Hunter Creek condos test $1M mark
ASPEN Sales at the Hunter Creek Condominiums, long regarded as an enclave of affordable living in Aspen, are poised to top the million-dollar mark.Two three-bedroom units are on the market with asking prices higher than $1 million. The highest sale there up until now was for $810,000, Hunter Creek Properties manager Jennifer Bennett said Thursday.Prices at Hunter Creek have been “rising dramatically, just like everything else in town,” Bennett said.Jill Shore, a real estate agent with Joshua and Co., has listed her Hunter Creek condominium for $1.1 million. She considers it the best value in town for a three-bedroom condo. It’s nearly impossible to find another unit with that many bedrooms for less than $2 million, Shore said.Her home of 20 years has a luxurious master bedroom that is as large as the living room, according to her advertisement. She put in wood floors, and refurbished the bathroom and kitchen.Shore said Hunter Creek is attractive because it has a large swimming pool, tennis courts, lots of parking and convenient bus service. It’s also within easy walking distance to downtown Aspen.Shore said she is confident the unit will sell for more than $1 million, given the soaring prices throughout the Roaring Fork Valley. She has established record sales prices in Hunter Creek before. Shore said she sold a Hunter Creek unit for a then-record price of $375,000 “at least 10 or 12 years ago.”There are 295 condominiums at Hunter Creek, of which 217 are free-market units with no restrictions on sales prices. The remaining 78 are part of the affordable housing inventory, so they have restrictions on selling prices, and buyers must qualify under asset and income limits.The condo complex was built in 1972 and underwent a major remodel in 1984.The condos listed for more than $1 million are free-market units. In addition to Shore’s residence, another unit is on the market for $1,199,000.Bennett concurred that it is a matter of time before sales top $1 million at Hunter Creek.A handful of one-bedroom condos have sat on the market for around $575,000 without selling. Bennett said real estate agents told her “at these prices, people are going downvalley” where they can get a house and a yard.The opposite scenario exists with two-bedroom, two-bathroom condos. Demand has pushed the price for those into the $750,000 to $800,000 range.”I could sell them all day long,” Bennett said.The problem is, there is no inventory. None of the current owners are willing to part with them “because they don’t have anywhere to go” in the upper valley even if they sold at that hefty price, she said. Many of the Hunter Creek homeowners like living there so much they are unwilling to sell at any price, according to Bennett.”The homeowners here feel like they’ve got a little slice of heaven,” she said.Scott Condon’s e-mail address is email@example.com
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