Aspen’s Luxury Market Heats Up: Bill Koch Lists $125M Mountain Estate
Aspen’s real estate market is making headlines again with a record-setting listing. Billionaire Bill Koch has put his sprawling 52-acre mountain retreat on the market for $125 million, making it the priciest listing in the state. As Aspen continues to attract ultra-high-net-worth buyers, this listing highlights the growing demand for exclusive, one-of-a-kind estates in Colorado.
The property itself is a masterpiece of mountain luxury. The 16,600-square-foot main lodge features seven bedrooms, 30-foot ceilings, and grand living spaces designed to maximize breathtaking views of the Elk Mountain Range. In addition to seven guest cabins, the estate boasts rustic yet refined details like flagstone flooring, log beams, and a dramatic floor-to-ceiling stone fireplace. Walls of windows invite in the stunning natural surroundings, and the property includes private cross-country skiing trails, private ponds, and multiple outdoor spaces for year-round enjoyment.
Originally built in 1990, the home was previously used as an event venue before Koch purchased it in 2007 for $26.5 million. Over the years, he expanded the property by adding 30 acres and enhancing its features to create a private mountain sanctuary. This isn’t his first attempt to sell—he initially listed it for $100 million in 2015, later reduced it to $80 million, and sold a portion of the land in 2020 for $14.5 million. More recently, the estate has been available as a luxury rental for $35,000 per night or $300,000 per month.
While this home is at the farthest end of Colorado’s real estate spectrum, it reflects broader market trends. In 2024, Aspen saw its first-ever home sale over $100 million when a property on Willoughby Way closed for $108 million. This record-breaking transaction underscores the growing demand for ultra-luxury estates in Aspen and beyond. Even in Denver, Boulder, and the surrounding metro areas, buyers at all levels continue prioritizing lifestyle and long-term value in their real estate investments.
Whether you’re keeping an eye on the luxury market or simply curious about Colorado’s most extravagant listings, this sale is a reminder of the diversity and dynamism of our real estate landscape. While most of us aren’t shopping for a $125 million retreat, it’s always fascinating to see how Colorado continues to attract attention from across the globe.
A Market Finding Its Footing
January brought more of the same market conditions we saw in 2024—mortgage rates hovering near or above 7%, rising inventory, and prices holding steady with modest growth. However, one key difference has emerged: more people seem to have accepted that interest rates aren’t changing significantly anytime soon. This is our market environment, and it’s likely here to stay for the foreseeable future.
“In some ways, that brings stability—decisions become more complex when too many unknowns exist. We expect mortgage rates to remain steady, while price growth has stabilized,” says Amanda Snitker of the DMAR Market Trends Committee. This shift means those waiting for the perfect conditions to buy or sell are stepping back, while those with a strong need or desire to move are taking action. They recognize that holding out won’t change the market—only delay their plans.
The biggest highlight of January was the surge in new inventory. Both attached and detached homes saw an increase of more than 100% from December and were up 38.50% and 29.11%, respectively, from January 2024. While a rise in new listings from December to January is expected as sellers return to the market after the holidays, this year’s increase was unusually high. Historically, active listings decline by nearly 4% from December to January. This year, they rose by 11.6%—a record-high percentage change. The Denver market typically considers late January the start of the spring selling season, but this year, it may have begun even earlier. By the end of the month, active inventory had risen 57.83% year-over-year to 7,688, giving buyers more choices than they’ve had in years. However, perspective is key—the long-term average for active January listings (1985–2024) is 12,032, with a record high of 24,550 in 2008 and a record low of 1,184 in 2022.
Buyer activity remained steady, with 3,061 pending contracts in January compared to 3,063 the year before—a nearly imperceptible 0.07% decrease. While this stability in pending sales doesn’t indicate a major shift, certain market segments are seeing increased demand. Some homes are going under contract within days, and multiple offers are becoming more common, though nowhere near the intensity of the pandemic market.
Closed sales in Metro Denver dropped 30.6% from December to January, a significant month-over-month shift. However, when compared year-over-year, the decline was just 2.31%, signaling a more stable trend. Despite softer overall demand, prices remained firm. The median price for single-family homes in January was $638,000, reflecting a modest 0.5% increase from December, while condos saw a slightly higher increase of 2%, reaching a median price of $398,000. The median number of days on the MLS rose to 45—a 28.57% increase year-over-year and the longest time on the market since 2015. Many in the Denver Metro area are unfamiliar with this slower pace, as the past decade has been defined by rapid sales and low inventory.
For Sellers
Realistic pricing is more important than ever. Overpricing a home in today’s market often leads to extended time on the market and eventual price reductions, as buyers have more options and are less likely to engage with an overpriced listing. The quickest and most profitable sales come from homes that are "parade ready"—well-staged, thoroughly cleaned, and free of clutter. When combined with accurate pricing, this approach helps your home stand out, attract serious buyers, and maximize your return.
For Buyers
Colorado homeowners remain among the strongest in the country, second only to Washington. Just 1.9% of mortgaged homes in the state are delinquent, and only 0.1% are in foreclosure. The Denver Metro market’s median sale price has risen from $317,000 in January 2016 to $575,000 in January 2025—an 81.38% increase, averaging 9.04% per year. This steady growth underscores the lasting value of real estate as a wealth-building asset.
With increased inventory and less buyer competition, now is the time to focus on how to make homeownership work instead of looking for reasons it won’t.
As the market finds its footing, we’re seeing a shift toward a more balanced environment where preparation and strategy matter more than ever. While the headlines may focus on short-term fluctuations, the bigger picture remains clear—real estate in the Denver Metro area continues to be a strong, long-term investment. Whether you're considering buying, selling, or just exploring your options, a well-informed approach will put you in the best position to succeed. Let’s build a strategy tailored to your goals—reach out today to get started!
We use reasonable efforts to include accurate and up-to-date information. The real estate market changes often. We make no guarantees of future real estate performance and assume no liability for any errors or omission in the content.
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