The March 2017 Aspen Snowmass Real Estate Monthly Market Snapshot was posted in Current Reports Apr 3, 17. The Monthly Snapshots are usually posted on or near the 1st Monday of the month. The Q1 2017 & 2016 Year End report will be released later the last week of April week, as will Q4 2016 stats.

An article appeared in the Denver Post Sunday Feb 26th on Colorado Mountain resort real estate including Aspen and Pitkin County. 

Bottom Line Mar 2017 Snapshot Excerpt:

“For year-to-date (YTD), Jan 1 through Mar 31, 2017, the total combined Aspen Snowmass Village market is up 22% in dollar sales to $224M from $184M same time last year and up 11% in unit sales with (78) sales in 2017 versus (70) last year-to-date.

The number of under contract properties for the combined Aspen Snowmass Village market is up 121% to (35) in Mar 2017 versus (24) same time last year.

Under Contracts are used as an indicator of future activity when compared to the prior year.”

040317 Estin Report AspSMV Q117 and 2016Yr Performance Comparison 590w 72res
Click tables to enlarge

New Charts Below: Historic Pace of Aspen and Snowmass Village Homes, Condos and Vacant Land / Lots by Dollar Sales and Unit Sales Updated with Q1 2017. (These charts are very popular and will be updated every quarter):

These new charts were originally posted in Current Reports on 02/15/17 through Q4 2016. They have been updated with Q1 2017 stats. The charts are: the historic pace of dollar and unit sales since 2006 separately for Aspen and Snowmass Village (SMV) by property types: 1) all properties combined; 2) single family homes; 3) condos; 4) vacant land / lots. (Fractionals, with the exception of extreme sales, are not included.)

Sales velocity, or pace, whether by dollar volume or unit sales is extremely useful to consider ss the unit sales drop-off in the 2nd Half 2007 so foreshadowed the Great Recession. 

While many real estate professionals use dollar volume sales as the single metric for sales performance (it often looks ‘better’), unit sales are a more reliable measure of market activity. Dollar sales can be skewed disproportionately by extreme high or low end priced sales.

Clients often ask, “Where are we now compared to the Great Recession…?”. These charts offer a solid reference for that conversation. In this instance, the starting point for the trend line is 2006, but, of course, where the trend line commences will affect its outcome…If the charts had started at 2009, the trend would be more upwards at present than is shown here.

As this is written, post-election Nov 2016 through Feb 15, 2017, sales have picked up considerably and are decidedly on an upward trajectory.

021517 Estin Report Aspen Real Estate Historic All Properties Unit Sales 590w96res

Click chart to see additional breakdown charts for Aspen and SMV by property types.

“Flip Job” Examples: See recent Before/After redevelopment  in the new Flip Jobs Section near the bottom of the Menu Bar on the left. These are properties that have been recently or are currently in the process of redevelopment for re-sale. This post is updated (01/04/17) as additional re-sale properties come on the market at significantly higher prices.

___________

Market Activity Week 16, April 16 – 23, 2017

Aspen Snowmass real estate weekly sales and under contract activity appears below for all Aspen, Snowmass Village, Brush Cr Village, Woody Creek and Old Snowmass properties over $250,000 excluding fractionals in the upper Roaring Fork Valley. As the MLS links below expire after 30 days, photos and written descriptions of select closed properties (those with excellent photography) are posted here to preserve an archive of sold market activity.  Scroll down the page for home photos and details of weekly sales and under contract / pending Aspen properties in the past 4 weeks. For earlier dates, use the down arrow to quickly find blog archives by year and date to 2008. Or use SearchEstinAspen in the menu bar to search by topic, address, subdivision, complex, date, etc.  If it’s about Aspen real estate, the information should be here.

Closed (9):  MLS#s 148504, 133798, 141583, 144142, 145399, 146813, 147083, 147537, 147727. This link is valid until 5/23/2017.

Under Contract/Pending (8): MLS#s 141942, 139716, 133641, 143702, 144842, 146899, 147742, 148392. This link is valid until 5/23/2017.

Aspen Snowmass Solds Last Week:  

MLS #141583 – Central Core, 936 King Street, Aspen, CO. Sold Price: $15,185,000/$2,151 sq ft; furnished. More details below photos.
Aspen real estate 042317 141583 936 King Street 1 590W  Aspen real estate 042317 141583 936 King Street 2 190H Aspen real estate 042317 141583 936 King Street 3 190H  Aspen real estate 042317 141583 936 King Street 4 190H Aspen real estate 042317 141583 936 King Street 5 190H
MLS #141583 – Central Core, 936 King Street, Aspen, CO. Sold Price: $15,185,000/$2,151 sq ft; furnished. Aspen single family residence for sale. Ask Price: $17,950,000. (Original Price: $12,950,000 and 529 days on the market since 11/06/2015. For detailed info on this re-development project, see recent “flip” job section. The property was purchased for $7.9M/$1,119 sq ft on 10/13/15 and then rebuilt.). This sale is amongst a recent few reaching new high price per sq ft levels…especially as this Smuggler Area fringe-of-Core location is not officially in the Core. It is in Smuggler but has been represented as in the Core. A big stretch. This is a 1998 built and 2016 remodeled, 6 bedroom/6 bath/2 half-bath, 7,059 sq ft single family residence with 2 car garage on a 18,500 sq ft lot. Broker comments are “Start with an over-sized lot, add a remarkable home and round it out with an over-the-top remodel inside and out. Beautiful five bedroom residence with a separate one bedroom apartment and plans for an outdoor makeover including an infinity edge pool/hot tub, outdoor kitchen and a putting green! Only the finest finishes have been selected including a variety of marble surfaces, stone exterior and impressive steel accents throughout the home. Views of Aspen Mountain, walkable to Aspen’s shops and restaurants and around the corner from the Rio Grande pedestrian path and Herron Park.” 2015 taxes: $16,243. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 12/23/2016; Sold Date: 04/18/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #148504 – Red Mountain, 54 Shady Lane, Aspen, CO: Sold Price: $8,350,000/$2,673 sq ft; unfurnished. More details below photo.
Aspen real estate 042317 148504 54 Shady Lane 1 590W
MLS #148504 – Red Mountain, 54 Shady Lane, Aspen, CO: Sold Price: $8,350,000/$2,673 sq ft; unfurnished. Aspen single family residence for sale. Ask Price: $8,350,000. (+18% over the $7.1M the seller paid on 12/23/14. The property was not on the market.) This is a 1971 built and 2006 remodeled,4 bedroom/4 bath, 3,123 sq ft single family residence on a 30,280 sq ft lot. It is located at the base of Red Mountain in a wooded lot off Red Mtn Road with Hunter Creek flowing adjacent to the home. It is easily walkable into town and to the Rio Grande Trail nearby. Highly desirable. The cement block design of the house is fits the description of ‘”1970’s retro-cool, tres chic”, perfect for a young couple or single person. Broker comments are “Sold before MLS”. 2016 Taxes: $16,634. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 12/23/2016; Sold Date: 04/18/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #144142 – Eastwood, East Aspen, 82 Eastwood Drive, Aspen, CO: Sold Price: $5,925,000/$1,021 sq ft; partial-furnished. More details below photos.
Aspen real estate 042317 144142 82 Eastwood Drive 1 590W  Aspen real estate 042317 144142 82 Eastwood Drive 2 590W  Aspen real estate 042317 144142 82 Eastwood Drive 3 190H Aspen real estate 042317 144142 82 Eastwood Drive 4 190H  Aspen real estate 042317 144142 82 Eastwood Drive 5 190H Aspen real estate 042317 144142 82 Eastwood Drive 6 190H
MLS #144142 – Eastwood, East Aspen, 82 Eastwood Drive, Aspen, CO: Sold Price: $5,925,000/$1,021 sq ft; partial-furnished. Aspen single family residence for sale. Ask Price: $6,300,000. (Original Price: $7,300,000 and 712 days on the market since 04/20/2015.) This is a 2007 built,5 bedroom/4 bath/2 half-bath, 5,801 sq ft single family residence with 2 car garage on a 15,442 sq ft lot. Broker comments are “Experience the beauty and convenience of the ”East End”. Truly the perfect family home located less than three minutes from downtown Aspen. Built in 2007, the property features 5 generous bedrooms, custom finishes, and great ceiling heights on both levels. The main level features a gourmet kitchen and an open living and dining room plan boasting expansive views to the south. Wake up to gorgeous light and open space towards Independence Pass. The beautiful deck provides views towards Ajax and the west. The walkout level includes 4 bedrooms, wine room and bar, family area, and a commercial grade laundry room with FOUR machines. Enjoy great access to town, The Aspen Club, and hiking trails. In the evenings, relax with the outdoor fire pit and a soak in the six person hot tub.” 2015 Taxes: $15,784. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/11/2017; Sold Date: 04/17/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #147083 – Cottonwood, Central Core, 124 W Hyman Avenue 2-E, Aspen, CO: Sold Price: $1,725,000/$1,402 sq ft; furnished. More details below photos.
Aspen real estate 042317 147083 124 W Hyman Avenue 2 E 1 590W  Aspen real estate 042317 147083 124 W Hyman Avenue 2 E 2 590W  Aspen real estate 042317 147083 124 W Hyman Avenue 2 E 3 190H Aspen real estate 042317 147083 124 W Hyman Avenue 2 E 4 190H  Aspen real estate 042317 147083 124 W Hyman Avenue 2 E 5 190H Aspen real estate 042317 147083 124 W Hyman Avenue 2 E 6 190H
MLS #147083 – Cottonwood, Central Core, 124 W Hyman Avenue 2-E, Aspen, CO: Sold Price: $1,725,000/$1,402 sq ft; furnished. Aspen condo for sale. Ask Price: $1,895,000. (Original Price: $1,895,000 and 114 days on the market since 12/26/2016.) This is a 1969 built and 2014 remodeled,3 bedroom/3 bath, 1,230 sq ft condo. Broker comments are “This Cottonwoods condo is 3 blocks to downtown Aspen Hyman Avenue mall. It is a beautiful three bedroom and three bath condo which was totally remodeled in 2014. Second floor with nice big views of Aspen Mountain from the Living Room and Deck. Granite countertops, multi-colored tile backsplash, slate tiles in the kitchen, living room and halls.Easy walk to everything downtown and located on a nice quiet street and neighborhood. 24 hours notice required for all showings.” 2015 Taxes: $3,742; HOA Dues: $3,154 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/10/2017; Sold Date: 04/19/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #133798 – Le Clairvaux, Central Core, 803 E Durant Avenue #7, Aspen, CO: Sold Price: $1,280,000/$1,333 sq ft; furnished. More details below photos.
Aspen real estate 042317 133798 803 E Durant Avenue 7 1 590W  Aspen real estate 042317 133798 803 E Durant Avenue 7 2 590W  Aspen real estate 042317 133798 803 E Durant Avenue 7 3 190H Aspen real estate 042317 133798 803 E Durant Avenue 7 4 190H  Aspen real estate 042317 133798 803 E Durant Avenue 7 6 190H Aspen real estate 042317 133798 803 E Durant Avenue 7 5 190H
MLS #133798 – Le Clairvaux, Central Core, 803 E Durant Avenue #7, Aspen, CO: Sold Price: $1,280,000/$1,333 sq ft; furnished. Aspen townhouse for sale. Ask Price: $1,399,000. (Original Price: $1,450,000 and 1,113 days on the market since 03/24/2014.) This is a 1965 built, 2 bedroom/2 bath, 960 sq ft townhouse. Broker comments are “This top floor two bedroom, two bath condo is all about the views and great downtown Aspen location. Spectacular Aspen Mountain views are enjoyed through the open living and kitchen area and from the front deck. In addition, there are beautiful Red Mountain views from the master and guest master suites, as well as the back deck. This condo boasts a fabulous core location, just two blocks from the gondola and City Market, and is the only top floor condo for sale in this complex. Extras include flat screen TVs, wood-burning fireplace,a newly remodeled kitchen and assigned parking. New upgrades throughout give this mountain condo a fresh feel! This is a fantastic real estate opportunity. Rental proformas attached.” 2015 Taxes: $2,663; HOA Dues: $1,808 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/05/2017; Sold Date: 04/12/2017. (Photos and broker comments courtesy of Whitman Fine Properties)
MLS #147727 – Chateau Chaumont, Central Core, 731 E Durant Ave. 23, Aspen, CO: Sold Price: $1,050,000/$1,039 sq ft; partial-furnished. More details below photos.
Aspen real estate 042317 147727 731 E Durant Ave 23 1 590W  Aspen real estate 042317 147727 731 E Durant Ave 23 2 590W  Aspen real estate 042317 147727 731 E Durant Ave 23 3 190H Aspen real estate 042317 147727 731 E Durant Ave 23 4 190H
MLS #147727 – Chateau Chaumont, Central Core, 731 E Durant Ave. 23, Aspen, CO: Sold Price: $1,050,000/$1,039 sq ft; partial-furnished. Aspen condo for sale. Ask Price: $1,195,000. (Original Price: $1,195,000 and 63 days on the market since 02/17/2017.) This is a 1968 built, 2 bedroom/2 bath, 1,010 sq ft condo. Broker comments are “AAA Location..Pied a Terre with prime position steps from gondola, City Market and Glory Hole Park. Incredible value in the heart of core. Excellent rental income and remodel potential.” 2015 Taxes: $2,053; HOA Dues: TBD per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/07/2017; Sold Date: 04/21/2017. (Photos and broker comments courtesy of Lester Properties)
MLS #147537 – Gant, Central Core, 610 S West End Street C-204, Aspen, CO: Sold Price: $799,250/$1,110 sq ft; furnished. More details below photos.
Aspen real estate 042317 147537 610 S West End Street C 204 1 590W  Aspen real estate 042317 147537 610 S West End Street C 204 2 590W  Aspen real estate 042317 147537 610 S West End Street C 204 3 190H Aspen real estate 042317 147537 610 S West End Street C 204 4 190H  Aspen real estate 042317 147537 610 S West End Street C 204 5 190H Aspen real estate 042317 147537 610 S West End Street C 204 6 190H
MLS #147537 – Gant, Central Core, 610 S West End Street C-204, Aspen, CO: Sold Price: $799,250/$1,110 sq ft; furnished. Aspen condo for sale. Ask Price: $879,000. (Original Price: $879,000 and 64 days on the market since 02/09/2017.) This is a 1972 built, 1 bedroom/1 bath, 720 sq ft condo. Broker comments are “This remodeled one-bedroom, second floor Gant condominium is convenient to the lobby and shuttle service, and just twelve steps to the elevator. An east facing deck off of the living room enjoys filtered morning light through mature fir trees, and enhanced privacy. The upgraded kitchen includes solid slab granite kitchen counter tops with full-length granite back splash, Stainless GE appliances, and custom cabinetry. Abundant lock-off storage is located beneath the full-length bar. A convenient entryway bench and tiled entry are ideal for removing ski and snowboard boots after a day on the mountain. A brick wood-burning fireplace creates a warm and comfortable ambiance in the living room. Contemporary furnishings accent the carpeted living and dining area. The bedroom features custom built-in’s with a flat panel television overhead. The Molly Campbell Conference center with fitness facility, meeting space, and cafe was completed in 2016. Strong rental history with only eleven one-bedroom units at the Gant. Property amenities include two year round heated pools and hot tubs, fire pit, fitness and tennis, on site management, concierge, daily maid service, and shuttle. Located just a few blocks from the Aspen Club & Spa and the Ute Trail. A peaceful and relaxing location, walking distance to everything!” 2016 Taxes: $1,995; HOA Dues: $18,880 per Yr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 02/20/2017; Sold Date: 04/14/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #145399 – Ridge Run, 124 Baby Doe, Snowmass Village, CO: Sold Price: $4,475,000/$927 sq ft; unfurnished. More details below photos.
Aspen real estate 042317 145399 124 Baby Doe 1 590W  Aspen real estate 042317 145399 124 Baby Doe 2 590W  Aspen real estate 042317 145399 124 Baby Doe 3 190H Aspen real estate 042317 145399 124 Baby Doe 4 190H  Aspen real estate 042317 145399 124 Baby Doe 5 190H Aspen real estate 042317 145399 124 Baby Doe 6 190H
MLS #145399 – Ridge Run, 124 Baby Doe, Snowmass Village, CO: Sold Price: $4,475,000/$927 sq ft; unfurnished. Snowmass Village single family residence for sale. Ask Price: $4,875,000. (Original Price: $4,750,000 and 266 days on the market since 07/29/2016.) This is a 1989 built and 2016 remodeled, 4 bedroom/4 bath/1 half-bath, 4,827 sq ft single family residence with 2 car garage on a 36,460 sq ft lot. Broker comments are “Located at the top of world on one of Ridge Run’s most private streets sits this incredible ski home. With four large bedroom suites and an open floorplan conducive to entertaining family and friends, this is the ultimate mountain retreat. The property has been completely renovated featuring a light and mountain contemporary style that is timeless. The natural materials include hardwood, Colorado Buff Sandstone on the fireplace and entry, and beautiful flagstone on the patios and media room. Soak in the private outdoor hot tub after a full day of skiing, hiking or biking. The grounds have been reconstructed to take advantage of the sensational mountain views and tremendous mature trees and landscape. Rarely can one find such a refined home with panoramic views in a most private setting with such close ski access to Snowmass Mt. This one is a treasure, but given the location on top of everything, it’s far from hidden.” 2016 Taxes: $11,162; HOA Dues: $90. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 03/09/2017; Sold Date: 04/21/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Snowmass Village)
MLS #146813 – Wood Run Place, 425 Wood Road 55, Snowmass Village, CO: Sold Price: $1,400,000/$778 sq ft; furnished. More details below photos.
Aspen real estate 042317 146813 425 Wood Road 55 1 590W  Aspen real estate 042317 146813 425 Wood Road 55 2 590W  Aspen real estate 042317 146813 425 Wood Road 55 3 190H Aspen real estate 042317 146813 425 Wood Road 55 4 190H  Aspen real estate 042317 146813 425 Wood Road 55 5 190H Aspen real estate 042317 146813 425 Wood Road 55 6 190H
MLS #146813 – Wood Run Place, 425 Wood Road 55, Snowmass Village, CO: Sold Price: $1,400,000/$778 sq ft; furnished. Snowmass Village condo for sale. Ask Price: $1,475,000. (Original Price: $1,475,000 and 128 days on the market since 11/28/2016.) This is a 1983 built, 3 bedroom/3 bath/1 half-bath, 1,798 sq ft condo. Broker comments are “One of the most desirable locations and interior floorplan available at Woodrun Place. With three bedrooms, three bathrooms, plus family room, this west-facing residence is easy to ski in and out of directly to Fanny Hill. The condominium has been completed remodeled and upgraded with the finest wood flooring, stone counters and custom cabinetry. The two-story plan offers a large living room and two outdoor patios accentuated by a cozy family room. Vaulted ceilings rise over 18 feet in parts of the property. Enjoy one dedicated space parking space in the private, heated garage. Woodrun Place owners and guests enjoy heated pool and hot tub spa, private ski storage and ski tuning, front desk and private shuttle service to and from Aspen airport. This residence and this property combine to make one of the most compelling luxury condominiums in Snowmass Village.” 2016 Taxes: $4,162; HOA Dues: $32,839 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 03/02/2017; Sold Date: 04/21/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Snowmass Village)

Recent Estin Report tweets on Aspen Real Estate

{loadposition articlepos}

Disclaimer: The statements made in The Estin Report and on Aspen broker Tim Estin’s blog represent the opinions of the author and should not be relied upon exclusively to make real estate decisions. A potential buyer and/or seller is advised to make an independent investigation of the market and of each property before deciding to purchase or to sell. To the extent the statements made herein report facts or conclusions taken from other sources, the information is believed by the author to be reliable, however, the author makes no guarantee concerning the accuracy of the facts and conclusions reported herein. Information concerning particular real estate opportunities can be requested from Tim Estin at 970.309.6163  or by email. The Estin Report is copyrighted 2017 and all rights reserved. Use is permitted subject to the following attribution with a live link to the source: “The Estin Report on Aspen Real Estate.”

____________________________________________________________________________________