Aspen vs. Vail – Is there really any comparison?

Aspen a small ski town with a rich history. Vail a larger ski town that was built to resemble a great ski town. Aspen has a community and is more of a destination resort. Vail is located right on Interstate 70 and is a destination resort and a front range ski destination. Vail does not have much of a history or a year around community. Aspen has strict growth restrictions that cap height of all buildings at 3 stories. Vail has no growth restrictions and grows with demand. Vail attracts up to five times the skiers than Aspen does.
This makes Vail’s slopes congested. It is a 3 mile catwalk from one side of Vail to the other. This is not a fun trek to make at the end of the day with the rest of the skiing crowds in Vail. Vail claims to have uncontested areas in its back bowls. However, Vail’s back bowls have southern exposure that ensures that they are crusty or icy most of the time.
If there is fresh powder in the back bowls, the bowls are not steep enough to ski. Aspen has four great mountains (Aspen Mountain, Aspen Highlands, Buttermilk, and Snowmass) and has steeps that Vail can only dream about. Aspen is surrounded by National Forest that prevent it from sprawling out with growth. Vail also is surrounded by National Forest but is not limited by growth restrictions. So, Vail builds up and has more and more density.
Up to the beginning of 2008, Aspen’s real estate prices had gained 25 to 30% annually for the past 35 years. Vail’s real estate prices had also realized similar appreciation. Aspen Colorado has now been affected by the economy just as much as anywhere else.
In the past, Aspen real estate was known for being the last one to feel a downturn and the first to recover from one. However, this time the economy is much more global. I still feel Aspen and Snowmass will recover well because of the limited supply of real estate here. However, supply is growing rapidly in Vail. Supply in Aspen is constantly being stuck with all the growth restrictions. Vail is seeing more and more density between Vail and Beaver Creek. Can the demand keep up with all the increased supply in the Vail Valley? Yes, it probably can because it has a great deal of demand. Vail and Beaver Creek build with demand. Whereas, in Aspen the supply is finite and the demand is huge. Aspen can not keep up with its demand. Now, Aspen, Snowmass, Vail, and Beaver Creek attract many international visitors.
The international visitors are interested in real estate in Aspen, Snowmass, Vail, and Beaver Creek. The international visitors find great value in these resorts with the dropping dollar. This has led to many international visitors finding resort real estate as more of a bargain than American visitors leading to even greater demand. It is amazing how many people in the world have money and find there way to Aspen, Snowmass, Vail, or Beaver Creek. However, I like the prospects of Aspen and Snowmass real estate over Vail and Beaver Creek because of our finite supply.
Ever increasing demand with finite supply leads to increased prices every time. Because of the finite supply, I love the appreciation of Aspen and Snowmass real estate for the future. I’ve lived in Aspen my entire life. So, I have a bias towards Aspen and Snowmass. I am an Aspen real estate broker for Aspen Snowmass Real Estate. At the same time, I am happy that most people do pick Vail over Aspen. We already have enough people coming to Aspen and Snowmass. I would hate to see Aspen and Snowmass attract 5 times the skiers and visitors. If this happened, the town would resemble Vail.
Uncontrollable growth and congestion. Nothing against Vail, but I prefer Aspen. Is there really any comparison? I think not! Feel free to contact me by email roget@aspen-snowmass-realestate.com or by phone (970) 319-9719.
Please contact me now for great opportunities in Aspen Real Estate and Snowmass Real Estate. Please also contact me now for more information on rentals in Aspen and Snowmass Village or see my website www.aspen-snowmass-realestate.com .
I CAN HELP YOU BUY, SELL, OR RENT PROPERTIES.
Roget Kuhn Owner/ Broker-Realtor
“An Honest Approach to Real Estate and Rentals”
Aspen Snowmass Real Estate
303 1/2 E. Main St.
Aspen, CO 81611
(970) 319-9719