The second half of 2009 showed a significant upturn in sales hinting that the market has hit its bottom.  Aspen real estate offices have seen a large increase in showings/sales as Buyers are starting to realize that there is not going to be a collapse in the Aspen market like other parts of the country.  Sellers are realizing that Aspen area real estate prices are not what they used to be.  Both Buyers and Sellers are willing to work together to find acceptable middle ground.  Be careful if you are a Buyer waiting for prices to lower.  You may miss the opportunity that you have been waiting for by simply making an offer.  There is a lot of inventory and some very good buys right now.