This is the 501th weekly blog post on the Estin Report !! Check out the SearchEstinAspen Section to find all kinds of info on this site. Over time, the archival content builds and becomes more useful.

The April 2017 Aspen Snowmass Real Estate Monthly Market Snapshot was posted in Current Reports on Wed. May 3rd. 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 this week, I hope, 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:  Estin Report: Apr 2017 Aspen Real Estate Market Snapshot Excerpt:

“Aspen real estate is in turn-a-round mode from a dismal 2016 when global uncertainty curtailed buyers’ appetite for luxury high end 2nd home purchases. Post-election 2016, an upper-end Aspen real estate recovery is in full bloom.

In April 2017, for the combined Aspen/Snowmass Village market, the number of units sold is up +25%, from 28 last year to 35 this year. The number of properties that went under contract in April 2017 was 30 versus 25 last year. Under contracts are viewed as an indicator of future activity.

But the surging market activity grabbing local headlines is very specific: location specific, property specific, style/design specific, property age specific… There’s inside the roundabout and there’s outside. Not everyone’s partying at present.

If you want to pay through your teeth, pour money into developer’s pockets who saw these things coming 2-4 years ago, be a part of the great migration closer into town…”

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.

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Market Activity Week 17, April 23 – 30, 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 (11):  MLS#s 142373, 140442, 136466, 139230, 143520, 144612, 145372, 145843, 146882, 147536, 148658. This link is valid until 5/30/2017.

Under Contract/Pending (6): MLS#s 138827, 144655, 144945, 146806, 147382, 148592. This link is valid until 5/30/2017.

Aspen Snowmass Solds Last Week:  


MLS #142373 – Pitkin Green, Red Mountain, 343 Willoughby Way, Aspen, CO. Sold Price: $30,000,000/$3,120 sq ft; unfurnished. More details below photos. 
Aspen real estate 043017 142373 343 Willoughby Way 1 590W  Aspen real estate 043017 142373 343 Willoughby Way 2 590W Aspen real estate 043017 142373 343 Willoughby Way 3 190H  Aspen real estate 043017 142373 343 Willoughby Way 4 190H Aspen real estate 043017 142373 343 Willoughby Way 5 190H
MLS #142373 – Pitkin Green, Red Mountain, 343 Willoughby Way, Aspen, CO. Sold Price: $30,000,000/$3,120 sq ft; unfurnished. Aspen single family residence for sale. Ask Price: $36,500,000. (Original Price: $42,500,000 and 305 days on the market since 01/15/2016.) This is a 2014 built, 5 bedroom/6 bath/1 half-bath, 9,613 sq ft single family residence with 3 car garage on a 38,705 sq ft lot. Willoughby Way is a marquee Aspen address offering spectaular big mountain and town views from a lower Red Mountain location and the abiility to easily walk or bike into town. Broker comments are “Unparalleled & exquisite contemporary home perched above the road with direct views of Aspen Mountain, this property has one of the most envious locations on the street. The sweeping panorama from Indy Pass to Mt. Sopris provides light & scenery from every part of the home. The exterior & interiors exemplify the highest level of craftsmanship & design. Spanish stone was precision cut & installed by the best of masons, while Epay wood was used for accents & all of the doors & walls were designed to float at their top & bottom. This gem includes a stunning master suite, gourmet kitchen, office w/fireplace, spa-like massage & steam room, 2000 bottle wine storage, media room, exercise room, & hot tub. In addition to state of the art lighting & electronics, the dining room opens onto an outdoor patio (with fireplace) via a disappearing glass wall to bring the outdoors in. The property is finished off with a sun-filled pool and spa area to enjoy the ultimate privacy or host the year’s best party! All furniture, art, personal effects & chandelier sculptures are excluded. Sculptures in the entry living area & master bath are included.” 2015 taxes: $28,461. Under Contract Date: 03/10/2017; Sold Date: 04/24/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #139230 – Conundrum, West Aspen, 243 Conundrum Road, Aspen, CO. Sold Price: $8,850,000/$1,352 sq ft; furnished. More details below photos.
Aspen real estate 043017 139230 243 Conundrum Road 1 590W  Aspen real estate 043017 139230 243 Conundrum Road 2 590W  Aspen real estate 043017 139230 243 Conundrum Road 3 190H Aspen real estate 043017 139230 243 Conundrum Road 4 190H  Aspen real estate 043017 139230 243 Conundrum Road 5 190H Aspen real estate 043017 139230 243 Conundrum Road 6 190H
MLS #139230 – Conundrum, West Aspen, 243 Conundrum Road, Aspen, CO. Sold Price: $8,850,000/$1,352 sq ft; furnished. Aspen single family residence for sale. Ask Price: $9,900,000. (Original Price: $14,000,000 and 703 days on the market since 05/26/2015.) This is a 2008 built and 2014 remodeled, 5 bedroom/5 bath/2 half-bath, 6,545 sq ft single family residence with 4+ car garage on a 2.45 acres lot. Broker comments are “This unique property, located about 4.5 miles up Castle Creek Rd from the round-a-bout, has the perfect combination of beauty, privacy & convenience. Located less than 5 miles from downtown Aspen: one of the most scenic drives in North America. This new modern log home features a main house w/5 generously sized bedrooms, each with a unique view of the river. Entire south & west sides of main floor have glass walls and doors uniting the inside & outside spaces. Open floor plan with the living, dining, kitchen & family areas flowing together. Special features include large sun room off the kitchen, custom walk-in pantry, Mozambique cabinetry, custom bar area, Nana doors exiting to the river patio & outside grill area with wood burning fireplace. Brand new detached game room above 6 car garage. There is an additional two car heated garage attached to the main house. Outdoor spa is located on a second level private deck.” 2017 taxes: $15,118. Under Contract Date: 03/18/2017; Sold Date: 04/28/2017. (Photos and broker comments courtesy of Laura Maggos Properties)
MLS #148658 – Ridge of Red Mountain, 12 Salvation Circle, Aspen, CO. Sold Price: $5,800,000/$2,253 sq ft. More details below photos.
Aspen real estate 043017 148658 12 Salvation Circle 1 590W
MLS #148658 – Ridge of Red Mountain, 12 Salvation Circle, Aspen, CO. Sold Price: $5,800,000/$2,253 sq ft. Aspen teardown home / lot sale. Ask Price: $5,800,000. (Original Price: $5,800,000 and the property was not on the market.) Salvation Circle is located on the 2nd bench heading up Red Mountain overlooking town and big mountain views. This is a 1972 built, 4 bedroom/2 bath/2 half-bath, 2,574 sq ft single family residence with 2 car garage on a 31,100 sq ft lot. Broker comments are “Sold before MLS.”  2016 taxes: $6,794; HOA Dues: $371 per Yr. Under Contract Date: 04/28/2017; Sold Date: 04/28/2017. (Photos and broker comments courtesy of Douglas Elliman Real Estate-Durant)
MLS #144612 – West Aspen, 985 Cemetery Lane, Aspen, CO. Sold Price: $4,325,000/$956 sq ft; unfurnished. More details below photos.
Aspen real estate 043017 144612 985 Cemetery Lane 1 590W  Aspen real estate 043017 144612 985 Cemetery Lane 2 590W  Aspen real estate 043017 144612 985 Cemetery Lane 3 190H Aspen real estate 043017 144612 985 Cemetery Lane 4 190H  Aspen real estate 043017 144612 985 Cemetery Lane 5 190H Aspen real estate 043017 144612 985 Cemetery Lane 6 190H
MLS #144612 – West Aspen, 985 Cemetery Lane, Aspen, CO. Sold Price: $4,325,000/$956 sq ft; unfurnished. Aspen duplex/half-duplex for sale. Ask Price: $4,595,000. (Original Price: $4,850,000 and 320 days on the market since 06/11/2016.) This is a 2008 built and 2015 remodeled, 4 bedroom/4 bath/2 half-bath, 4,521 sq ft duplex/half-duplex with 2 car garage on a 14,810 sq ft lot. Broker comments are “This Janckila custom built ½ duplex lives like a single family home with newly installed sensational exterior hardscapes where you can relax in your own private spa. The entry has impressive 28’ high ceilings with a stairwell leading to the upper level great room with handsome arched trusses, a beautiful stone fireplace and is flooded with natural light. Cook and entertain like a pro in the chef’s kitchen with Wolf range, built-in espresso machine, impressive built-in wine refrigerator and more. Custom cabinetry by Genesis Innovations, hand-distressed alder doors, hardwood flooring, integrally color plaster walls and ceilings, stone slab countertops and everything a buyer might expect in an Aspen home. Beautiful master bedroom and bath leads out to the Diamond spa and fire pit.” 2016 taxes: $10,630. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 02/06/2017; Sold Date: 04/27/2017. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
MLS #145843 – Hunter Creek, Smuggler, 941 Vine Street 941, Aspen, CO. Sold Price: $554,775/$886 sq ft; partial-furnished. More details below photos.
Aspen real estate 043017 145843 941 Vine Street 941 1 590W  Aspen real estate 043017 145843 941 Vine Street 941 2 590W  Aspen real estate 043017 145843 941 Vine Street 941 3 190H Aspen real estate 043017 145843 941 Vine Street 941 4 190H  Aspen real estate 043017 145843 941 Vine Street 941 5 190H Aspen real estate 043017 145843 941 Vine Street 941 6 190H  Aspen real estate 043017 145843 941 Vine Street 941 7 190H Aspen real estate 043017 145843 941 Vine Street 941 8 190H
MLS #145843 – Hunter Creek, Smuggler, 941 Vine Street 941, Aspen, CO. Sold Price: $554,775/$886 sq ft; partial-furnished. Aspen condo for sale. Ask Price: $589,000. (Original Price: $589,000 and 238 days on the market since 08/30/2016.) This is a 1980 built and 2014 remodeled, 1 bedroom/1 bath, 626 sq ft condo. Broker comments are “Stunning Aspen Mountain views from this 3d floor 1 bedroom condo with recent makeover. Enjoy the tennis courts, pool and hot tub of this popular and well managed complex. Can have washer/dryer in unit.” 2015 taxes: $1,133; HOA Dues: $245 per Month. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 02/17/2017; Sold Date: 04/25/2017. (Photos and broker comments courtesy of LJ Erspamer Distinctive Real Estate)
MLS #136466 – Dickson, Tbd Snowmass Creek Road, Snowmass, CO: Sold Price: $850,000. Vacant riverfront 32.5 acre lot. More details below photos.
Aspen real estate 043017 136466 Tbd Snowmass Creek Road 1 590W  Aspen real estate 043017 136466 Tbd Snowmass Creek Road 2 590W  Aspen real estate 043017 136466 Tbd Snowmass Creek Road 3 190H Aspen real estate 043017 136466 Tbd Snowmass Creek Road 4 190H
MLS #136466 – Dickson, Tbd Snowmass Creek Road, Snowmass, CO: Sold Price: $850,000. Snowmass Village riverfront vacant lot for sale. Ask Price: $995,000. (Original Price: $1,750,000 and 913 days on the market since 10/21/2014.) This is a 32.5 acres single family vacant lot. Broker comments are “Fantastic building opportunity along the banks of beautiful Snowmass Creek! Located on 32+ acres, this single family lot offers privacy, mountain views, and approximately 1,000 feet of river frontage.” 2015 Taxes: $37,149. Under Contract Date: 10/09/2016; Sold Date: 04/21/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #143520 – Country Club Villas, 150 Snowmass Club Circle 1517, Snowmass Village, CO: Sold Price: $725,000/$589 sq ft; furnished. More details below photos.
Aspen real estate 043017 143520 150 Snowmass Club Circle 1517 1 590W  Aspen real estate 043017 143520 150 Snowmass Club Circle 1517 2 590W  Aspen real estate 043017 143520 150 Snowmass Club Circle 1517 3 190H Aspen real estate 043017 143520 150 Snowmass Club Circle 1517 4 190H  Aspen real estate 043017 143520 150 Snowmass Club Circle 1517 5 190H Aspen real estate 043017 143520 150 Snowmass Club Circle 1517 6 190H
MLS #143520 – Country Club Villas, 150 Snowmass Club Circle 1517, Snowmass Village, CO: Sold Price: $725,000/$589 sq ft; furnished. Snowmass Village condo for sale. Ask Price: $762,500. (Original Price: $775,000 and 372 days on the market since 04/13/2016.) This is a 1987 built, 3 bedroom/3 bath, 1,229 sq ft condo. Broker comments are “Ground floor corner condominium, beautifully decorated and furnished with direct views of Mt. Daly and Snowmass Ski area. Rated as a ”Premier” residence by the management company. Many new upgrades to include lighting, ceiling fans, flat screen TV’s, patio furniture and grill, new dishwasher and microwave. Special feature, the additional window added in the dining room offering additional light and views. Full service property with a front desk and located on the Snowmass shuttle route. Snowmass Club Gold membership included with access to all of the amenities to enjoy the country club lifestyle.” 2016 Taxes: $2,797; HOA Dues: $3,694 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 03/06/2017; Sold Date: 04/20/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Snowmass Village)
MLS #146882 – Wood Run Place, 425 Wood Road 3, Snowmass Village, CO: Sold Price: $480,000/$434 sq ft; furnished. More details below photos.
Aspen real estate 043017 146882 425 Wood Road 3 1 590W  Aspen real estate 043017 146882 425 Wood Road 3 2 190H Aspen real estate 043017 146882 425 Wood Road 3 3 190H  Aspen real estate 043017 146882 425 Wood Road 3 4 190H Aspen real estate 043017 146882 425 Wood Road 3 5 190H
MLS #146882 – Wood Run Place, 425 Wood Road 3, Snowmass Village, CO: Sold Price: $480,000/$434 sq ft; furnished. Snowmass Village condo for sale. Ask Price: $519,000. (Original Price: $519,000 and 136 days on the market since 12/05/2016.) This is a 1983 built, 2 bedroom/2 bath/1 half-bath, 1,106 sq ft condo. Broker comments are “Desirable Woodrun Place townhome with ski in ski out access. Large 2 bedroom 2.5 bath two-story townhome provides ample living space with vaulted ceilings and two private covered decks with down valley views. Peaceful setting on the small stream for summer time enjoyment. Townhome has stackable washer/ dryer and one assigned covered carport.” 2016 Taxes: $1,948; HOA Dues: $20,200 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 02/17/2017; Sold Date: 04/20/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Snowmass Village)
MLS #140442 – Terrace House, 65 Campground Lane #65, Snowmass Village, CO: Sold Price: $475,000/$523 sq ft; furnished. More details below photos.
Aspen real estate 043017 140442 65 Campground Lane 65 1 590W  Aspen real estate 043017 140442 65 Campground Lane 65 2 590W  Aspen real estate 043017 140442 65 Campground Lane 65 3 190H Aspen real estate 043017 140442 65 Campground Lane 65 4 190H  Aspen real estate 043017 140442 65 Campground Lane 65 5 190H Aspen real estate 043017 140442 65 Campground Lane 65 6 190H
MLS #140442 – Terrace House, 65 Campground Lane #65, Snowmass Village, CO: Sold Price: $475,000/$523 sq ft; furnished. Snowmass Village condo for sale. Ask Price: $505,000. (Original Price: $587,500 and 640 days on the market since 07/20/2015.) This is a 1972 built and 2002 remodeled, 2 bedroom/2 bath, 908 sq ft condo. Broker comments are “Top Floor, beautifully appointed 2 bedroom, 2 bathroom condo with 12′ 6” vaulted ceilings and great views. Fully furnished and turn key. Nice custom closets. Wood burning fireplace. Additional owners storage. Just steps away from Fanny Hill in Snowmass and located next to the Stonebridge Inn, where owners and guests can enjoy usage of a heated pool, hot tubs and work out facilities. The Terrace House also has a newly renovated hot tub. Walk to the Snowmass Mall or the new Base Village filled with shops and restaurants.” 2014 Taxes: $1,825; HOA Dues: $9,750 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 03/10/2017; Sold Date: 04/20/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #145372 – Willows Condo, 35 Campground Lane E-5, Snowmass Village, CO: Sold Price: $464,500/$519 sq ft; furnished. More details below photos.
Aspen real estate 043017 145372 35 Lane E 5 1 590W  Aspen real estate 043017 145372 35 Lane E 5 2 590W  Aspen real estate 043017 145372 35 Lane E 5 3 190H Aspen real estate 043017 145372 35 Lane E 5 4 190H  Aspen real estate 043017 145372 35 Lane E 5 5 190H Aspen real estate 043017 145372 35 Lane E 5 6 190H
MLS #145372 – Willows Condo, 35 Campground Lane E-5, Snowmass Village, CO: Sold Price: $464,500/$519 sq ft; furnished. Snowmass Village condo for sale. Ask Price: $497,000. (Original Price: $547,000 and 275 days on the market since 07/18/2016.) This is a 1967 built and 2009 remodeled, 2 bedroom/2 bath, 894 sq ft condo. Broker comments are “Top floor, corner property ideally located in the Village. Super easy access to the slopes, to the mall, to public transportation – walk to everything. Warm and comfortable living room with gas fireplace, a kitchen with all the necessities, dining area for 6. Master bedroom with queen has views down the valley. Twin guest bedroom has two window walls. Each has its own bath. Long, private porch outside with BBQ and handsome Balinese bench from which to watch the sun set through the trees. Outside ski storage locker. Low HOA dues. Exteriors all redone in 2007. The ”E” building is beautifully set in the loveliest grove of aspens.” 2016 Taxes: $1,883; HOA Dues: $7,896 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 02/28/2017; Sold Date: 04/19/2017. (Photos and broker comments courtesy of Berkshire Hathaway Homeservices | Aspen Snowmass Properties)
MLS #147536 – Tamarack Condos, 135 Carriage Way 4, Snowmass Village, CO: Sold Price: $450,000/$501 sq ft; furnished. More details below photos.
Aspen real estate 043017 147536 135 Carriage Way 4 1 590W  Aspen real estate 043017 147536 135 Carriage Way 4 2 590W  Aspen real estate 043017 147536 135 Carriage Way 4 3 190H Aspen real estate 043017 147536 135 Carriage Way 4 4 190H
MLS #147536 – Tamarack Condos, 135 Carriage Way 4, Snowmass Village, CO: Sold Price: $450,000/$501 sq ft; furnished. Snowmass Village condo for sale. Ask Price: $510,000. (Original Price: $510,000 and 75 days on the market since 02/09/2017.) This is a 1969 built, 2 bedroom/2 bath, 898 sq ft condo. Broker comments are “Great unit located just across from the Village Express ski lift and the new shops and restaurant of Base village. Excellent rental, easy access to all four ski areas, pool and for the kids, right across from the Treehouse Children’s Center.” 2016 Taxes: $1,584; HOA Dues: $10,140 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 03/13/2017; Sold Date: 04/25/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Snowmass Village)

Recent Estin Report tweets on Aspen Real Estate

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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 this website: “The Estin Report on Aspen Real Estate.”

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