Picture: Getty Images Words: Francesca Steele
Aspen, where Prada or one of its glamorous competitors lurks around every corner, is usually impervious to housing market fluctuations. Five years ago The Wall Street Journal dubbed it “the most expensive town in America”. Things have looked a little more jittery lately, with concerns about the election, oil, even Brexit, but normal service seems to be resuming.
The Knight Frank Wealth Report just listed the town as one of the top three ski chalet investment locations in the country. The average sales price in Aspen is $7.7 million, that’s if you want to be in or near Aspen itself. Even a two bedroom condo will set you back a minimum of $2 million.
Telluride, home to the September film festival, is not much cheaper so those on a budget should consider Vail. Not as historic as Telluride or Aspen, it sprang up in the 1960s and is neither as chic nor trendy, says broker Wendy Wogan, of Douglas Elliman. However, you could pick up a family home here for $800,000 – and the skiing is great.