Aspen and Palm Beach Face Off in Ultra Luxury Real Estate
Once considered a niche luxury destination, Aspen has seen a dramatic surge in ultra high end home sales over the past five years. An influx of billionaires and global investors has pushed prices to historic highs, putting the Colorado mountain town in direct competition with Palm Beach. While one offers alpine privacy and the other beachfront prestige, both markets are defined by limited inventory, exclusivity, and soaring demand.
Key Points
• Aspen recorded 34 home sales above $20 million last year, a massive increase from just a few annually five years ago
• Median single family home prices reached $13.95 million in Aspen compared to $9.97 million in Palm Beach during Q3 2025
• Both markets have tightly constrained inventory with fewer than 100 homes listed above $10 million
• Palm Beach leads in nine figure transactions, while Aspen continues to set new records with growing frequency
As global wealth continues to concentrate in lifestyle driven destinations, Aspen and Palm Beach remain at the forefront of ultra luxury real estate. With limited land and ever rising demand, both markets appear poised for continued price escalation.
By: E.B. Solomont | The Wall Street Journal | January 8, 2026
Photo: Hugh Carey/Colorado Sun/Zuma Press