Palm Beach Can Learn Something From Aspen’s Real Estate Boom

(Bloomberg) — Compared to last year, Aspen’s luxury real estate market had a spectacular September.


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New signed contracts for homes from $10 million to $19.99 million were up 800% (nine were signed compared to last September’s one), while new listings in the same price range were up 600% year-over-year, according to a new report by Douglas Elliman.

These numbers come hot on the heels of a booming August (75% year-over-year increase for that price range) and a truly unprecedented July in which a staggering 23 new contracts were signed in that range—a 1,050% year-over-year increase.

“This summer was—the word’s been overused now, but it was unprecedented,” says Andrew Ernemann, a broker at Aspen Snowmass Sotheby’s International Realty. “We went from no activity in April and the early part of May—when I think, at one point, we had a total of 12 contracts in all of Aspen. And then

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