The Estin Report: April 2016 Aspen Snowmass Real Estate Market Snapshot was released May 6, 2016inCurrent Reports. The Monthly Snapshots are posted on or near the 1st Monday of the month.
Excerptfrom the Apr 16 Aspen Snowmass Real Estate Market Snapshot:
“Bottom line:The Aspen Snowmass real estate market continued its significant retreat this year from a sizzling 2015. For the total combined marketplace. April 2016 had the poorest April sales activity in the past eight years since April 2009. The Aspen market alone is off 44%-61% year-to-date and in specific property categories and neighborhoods the decline is more. Historically, April is one of the highest performing months of the year as buyers close on property placed under contract during the ski season.”
See recent Before/After redevelopment‘flip job’ examplesin Miscellaneous Info at the bottom of the Menu Bar on the left. These are properties that have been recently or are currently being redeveloped for re-sale. This post is updated (02/16/16) as additional re-sale properties come on the market at significantly higher prices.
Last week’s Aspen and Snowmass sales activity appears below. Scroll down the page for 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 search the blog archives by year and date to 2008. Or useSearchEstinAspenin the menu bar to search by topic, address, subdivision, complex, date, etc. If it’s about Aspen real estate, the information should be here.
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Market Activity Week 17, April 24 – May 1, 2016
Aspen Snowmass real estate weekly sales and under contract activity appears below for all Aspen, Snowmass 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.
Closed (12):MLS#’s: 52875, 138891, 140306, 139292, 143718, 141221, 141258,141934, 138966, 138005, 143152, 142088.This link is valid until 5/31/2016.
Under Contract/Pending (13):MLS#’s: 141979, 139731, 141731, 140146, 141139, 138921, 138922, 139448, 141150, 141233, 137592, 143692, 143768. This link is valid until 5/31/2016.
Aspen Snowmass Solds Last Week:
MLS #99826 – Central Core, 128 E Main Street, Aspen, CO: Sold Price: $23,090,000/$1,548 sq ft; furnished. More details below photos.
MLS #99826 – Central Core, 128 E Main Street, Aspen, CO: Sold Price: $23,090,000/$1,548 sq ft; furnished. Sold off market. (Original Price: $23,500,000 and on/off on the market since 7/11/07 starting at $21.5M.) This is a 1892 built and 2004 remodeled, 9 bedroom/6 bath/4 half-bath, 14,919 sq ft total single family and guest residence on a 17,744 sq ft lot. The property was owned for 40 years by mortician Tom Sardy, who operated it as a funeral parlor and hospital. In April 1985, Sardy sold it for $1,000,000 to Aspen developers Frank Peters and Daniel Delano, who converted it into a luxury hotel and restaurant. The owners did a multimillion-dollar renovation of the building in 2003 and turned it back into a private residence, later selling it for $16.25 million in November 2006. The main house encompasses 9,243 square feet, while the carriage house is 5,676 square feet, Pitkin County assessor records indicate. Broker comments, “Historic landmark property in downtown Aspen. Irreplaceable size and amenities for a single family home. 6-bedroom main house with 8 additional bedroom suites, caretakers quarters and separate townhome. Home of the largest Christmas tree in the country. A rare and special opportunity.” 2004 Taxes: $18,728. Under Contract Date: Sold Date: 04/28/16. (Photos and broker comments courtesy of Douglas Elliman/Joshua and Co Aspen)
MLS #138891 – Aspen Highlands, West Aspen, ski in / out vacant lot, 395 Thunderbowl Lane, Aspen, CO: Sold Price: $4,050,000. More details below photos.
MLS #138891 – Aspen Highlands, West Aspen, ski in / out vacant lot, 395 Thunderbowl Lane, Aspen, CO: Sold Price: $4,050,000. Asking Price: $4,200,000. (Original Price: $4,200,000 and 376 days on the market since 04/10/2015.) This is a 27,834 sq ft vacant lot. Broker comments are “Considered one of Aspen Highlands most buildable lots, this premiere building site is one of only two other offerings with ski access for sale in Aspen. Views span from Thunderbowl and Goldenhorn to Maroon Creek and back across the Aspen Valley towards Red Mountain. Build up to 9400 sq ft. (5400 above grade, 4000 below grade) Drawings provided by well known Aspen Highlands architect David Johnston. Owners privileges include Ritz Carlton’s world class amenities, dining, pool, spa, fitness center and complimentary taxi service to and from downtown Aspen and the Aspen Airport. Truly an incredible opportunity to build your Aspen ski home!” 2015 Taxes: $78,787. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/12/2016; Sold Date: 04/20/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #140306 – Shadowview, West End, 324 W Hopkins Avenue Unit B, Aspen, CO: Sold Price: $2,795,000/$1,730 sq ft; furnished. More details below photos.
MLS #140306 – Shadowview, West End, 324 W Hopkins Avenue Unit B, Aspen, CO: Sold Price: $2,795,000/$1,730 sq ft; furnished. Asking Price: $2,995,000. (Original Price: $2,995,000 and 275 days on the market since 07/28/2015.) This is a 1975 built and 2015 remodeled, 2 bedroom/2 bath/1 half-bath, 1,615 sq ft townhouse. Broker comments are “Another stunning Provine/Guerra ”turn key” remodel collaboration located just four blocks to the core on the W. Hopkins ”bike path”. Soft contemporary finishes and furnishings complement light, bright, and generous spaces. Additional features include 2 master suites with private offices and baths, vaulted ceilings, ample storage, a covered carport, and a private courtyard.” 2015 Taxes: $4,050; HOA Dues: $1,615 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 04/09/2016; Sold Date: 04/26/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #139292 – Castle Creek, West Aspen, 750 Cemetery Lane, Aspen, CO: Sold Price: $2,750,000/$1,094 sq ft; unfurnished. More details below photos.
MLS #139292 – Castle Creek, West Aspen, 750 Cemetery Lane, Aspen, CO: Sold Price: $2,750,000/$1,094 sq ft; unfurnished. Asking Price: $3,195,000. (Original Price: $3,500,000 and 378 days on the market since 04/14/2015.) This is a 1967 built and 1977 remodeled, 4 bedroom/2 bath, 2,513 sq ft duplex/half duplex with 2 car garage on a 21,344 sq ft lot. Broker comments are “Longtime local family 60’s home on beautiful treed and fenced duplex lot. Bordering both Castle Creek Drive and Cemetery Lane, this property is perfect for redevelopment. Dramatic views from Aspen Mountain to Aspen Highlands. Water rights included … the great majority of value is in the lot.” 2014 Taxes: $ 4,612. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 11/13/2015; Sold Date: 04/26/2016. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
MLS #143718 – Chateau Dumont, Central Core, 715 E Durant Avenue 8, Aspen, CO: Sold Price: $1,220,000/$1,284 sq ft. More details below photo.
MLS #143718 – Chateau Dumont, Central Core, 715 E Durant Avenue 8, Aspen, CO: Sold Price: $1,220,000/$1,284 sq ft. Asking Price: $1,300,000. (Original Price: $1,300,000 and 877 days on the market since 12/13/2013.) This is a 1968 built, 2 bedroom/2 bath, 950 sq ft condo. No broker comments. 2015 Taxes: $2,964. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/15/2016; Sold Date: 04/21/2016. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
MLS #141221 – Old Snowmass, 955 Snowmass Creek Road, Snowmass, CO: Sold Price: $1,050,000/$231 sq ft; partial furnished. More details below photos.
MLS #141221 – Old Snowmass, 955 Snowmass Creek Road, Snowmass, CO: Sold Price: $1,050,000/$231 sq ft; partial furnished. Asking Price: $1,250,000. (Original Price: $1,250,000 and 205 days on the market since 10/06/2015.) This is a 1971 built, 5 bedroom/4 bath/1 half-bath, 4,536 sq ft single family residence on a 261,360 sq ft lot. Broker comments are “Including a peaceful 6 acres, this intriguing mountain cabin with a rich history includes 4 bedrooms, 3 baths, 2,962 square feet, air conditioned 360 sq ft office & 816 sq ft recording studio, and a caretaker’s studio cabin with 398 sq ft & 1 bath – all with the unique sights, sounds, and direct access to Snowmass Creek. Additional parcels for sale. Refer to MLS #’s 136466 & 141222 or to MLS# 141223 for all parcels combined.” 2015 Taxes: $14,045. Under Contract Date: 01/15/2016; Sold Date: 04/28/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #141258 – Divide, 104 Divide, Snowmass Village, CO: Sold Price: $7,550,000/$1,100 sq ft; unfurnished. More details below photos.
MLS #141258 – Divide, 104 Divide, Snowmass Village, CO: Sold Price: $7,550,000/$1,100 sq ft; unfurnished. Asking Price: $8,400,000. (Original Price: $8,400,000 and 383 days on the market since 03/16/2015.) This is a 2015 built, 5 bedroom/6 bath/1 half-bath, 6,860 sq ft single family residence with 3 car garage on an almost 2 acre or 78,408 sq ft lot. Broker comments are “*****CURRENTLY UNDER CONSTRUCTION***** This meticulously planned, BRAND NEW home offers easy ski access, stunning 360 degree views and a completely fresh contemporary design rarely found in Snowmass Village. This is largest home in The Divide and, at the $1,224/sf for brand new construction, it represents THE BEST VALUE IN SNOWMASS VILLAGE.” 2014 Taxes: $28,511; HOA Dues: $5,485 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 11/25/2015; Sold Date: 03/28/2016. (Photos and broker comments courtesy of Aspen Core Realty)
MLS #141934 – Wood Run Place, 425 Wood Road 26, Snowmass Village, CO: Sold Price: $2,050,000/$978 sq ft; furnished. More details below photos.
MLS #141934 – Wood Run Place, 425 Wood Road 26, Snowmass Village, CO: Sold Price: $2,050,000/$978 sq ft; furnished. Asking Price: $2,195,000. (Original Price: $2,195,000 and 383 days on the market since 01/09/2015.) This is a 1983 built and 2014 remodeled, 4 bedroom/4 bath, 2,094 sq ft condo. Broker comments are “One of the most exceptional 4 bedroom/4 bath condominiums in Snowmass on the market today. Completely renovated in 2014, this top-floor penthouse is located in the highly sought-after ’TOWER’ of Woodrun Place. Access to the Penthouse does not require any steps, as the elevator delivers you directly to the 4th floor. The residence has vaulted ceilings and mesmerizing views of Wildcat Ridge and surrounding mountains. Three of the four bedrooms enjoy its own en-suite bathroom, complete with steam shower in each. Woodrun Place offers direct ski in/out access to Fanny Hill and is a high-amenity property including ski storage, pool, hot tub spa, front desk and concierge service. This residence comes with one, dedicated parking space.” 2015 Taxes: $3,564. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 03/03/2016; Sold Date: 04/27/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Snowmass Village)
MLS #138966 – Gateway To Snowmass, 1311 Gateway Road, Snowmass Village, CO: Sold Price: $1,050,000/$369 sq ft; unfurnished. More details below photos.
MLS #138966 – Gateway To Snowmass, 1311 Gateway Road, Snowmass Village, CO: Sold Price: $1,050,000/$369 sq ft; unfurnished. Asking Price: $1,150,000. (Original Price: $1,200,000 and 354 days on the market since 05/11/2015.) This is a 1985 built, 3 bedroom/2 bath/1 half-bath, 2,844 sq ft single family residence with 2 car garage on a 161,607 sq ft lot. Broker comments are “An authentic adobe Santa Fe-style home custom built with an adjacent two-acre lot fully approved for a home of up to 5750 square feet. Ceilings of vigas from Montana Lodgepole pine and latillas of cedar grape sticks from Santa Fe complement the warm patina of old Mexican Saltillo tile floors. Built-in banquettes frame a traditional beehive fireplace. A sunroom and skylights enhance the passive solar advantages of the adobe construction. Warm in the winter and cool in the summer, this is a home that hugs you. Seated on almost 4 acres (house on 1.58 acres + a separate subdivided lot on 2.13 acres) of mature pinon trees, junipers, and sagebrush, this boutique one-of-a-kind home commands stunning views of the Elk Mountain Range from Independence Secluded and quiet, yet minutes away from Aspen and Basalt.” 2015 Taxes: $7,487. Under Contract Date: 03/19/2016; Sold Date: 04/29/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Spring Street)
MLS #138005 – Country Club Villas, 240 Snowmass Club Circle 1413, Snowmass Village, CO: Sold Price: $968,000/$662 sq ft; furnished. More details below photos.
MLS #138005 – Country Club Villas, 240 Snowmass Club Circle 1413, Snowmass Village, CO: Sold Price: $968,000/$662 sq ft; furnished. Asking Price: $985,000. (Original Price: $985,000 and 407 days on the market since 03/11/2015.) This is a 1984 built and 2013 remodeled, 2 bedroom/2 bath, 1,461 sq ft condo with 1 car garage. Broker comments are “From the private entry, to the beautifully renovated interior, this is a special home, the perfect layout for easy living. Generous size with a den that can be an office or third bedroom. Attached heated garage to hold all your toys. Renovations include custom LED lighting, window treatments, new carpeting, and extra sound insulation in ceiling. Large ground floor deck for enjoying barbeques and quick access to free cross country ski trails, or golf in the summer. The convenient free shuttle bus stops right in front of the building. Comes with a Snowmass Club membership, including golf, tennis, spa, 5 pools, right across the street. A perfect short term rental, or would work easily for full time, carefree retirement living. A must see.” 2014 Taxes: $2,491; HOA Dues: $4,528 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 02/22/2016; Sold Date: 04/21/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Snowmass Village)
MLS #143152 – Meadow Ranch, 154 Meadow Ranch Unit F-1-D, Snowmass Village, CO: Sold Price: $720,000/$581 sq ft; unfurnished. More details below photos.
MLS #143152 – Meadow Ranch, 154 Meadow Ranch Unit F-1-D, Snowmass Village, CO: Sold Price: $720,000/$581 sq ft; unfurnished. Asking Price: $769,000. (Original Price: $769,000 and 38 days on the market since 03/18/2016.) This is a 1976 built and 2006 remodeled, 2 bedroom/1 bath/1 3/4-bath, 1,238 sq ft condo. Broker comments are “This two bedroom, two bathroom condominium lives like a townhome and is conveniently located in a quiet part of the Meadow Ranch neighborhood. The property was remodeled down to the studs in 2006 which opened up the main floor, added a 3/4 bathroom, and a separate laundry room. The large kitchen has newer appliances and marble counter tops. ”Cozy up” in the living room with a wood burning fireplace, or plan your day in the heart of the Rocky Mountains from your master bedroom with a view of Mount Daly and Snowmass Mountain. The master bath has heated floors and double sinks. Generous storage space. 1 dog allowed for both owners and renters which makes this condo a great 1st home, vacation home, or rental investment. Great opportunity for the Aspen School District!” 2015 Taxes: $2,233; HOA Dues: $7,753 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 04/03/2016; Sold Date: 04/25/2016. (Photos and broker comments courtesy of Destination Holdings Carb)
MLS #142088 – Woodbridge, 35 Upper Woodbridge Road 23a, Snowmass Village, CO: Sold Price: $537,000/$599 sq ft; partial furnished. More details below photos.
MLS #142088 – Woodbridge, 35 Upper Woodbridge Road 23a, Snowmass Village, CO: Sold Price: $537,000/$599 sq ft; partial furnished. Asking Price: $550,000. (Original Price: $550,000 and 128 days on the market since 12/21/2015.) This is a 1973 built and 2015 remodeled, 2 bedroom/2 bath, 896 sq ft condo. Broker comments are “Impeccable Woodbridge condominium ready to move in! This 2 bedroom/2 bath unit was remodeled in 2015 with top of the line finishes, including stainless steel appliances, wood flooring, heated bathroom floors, washer/dryer, and added insulation for sound proofing. Offered partially furnished with a contemporary flair. The Woodbridge complex is an ideal location within Snowmass Village. Leave the car in the common parking just steps from the front door and take the quick walk to the Snowmass Center along the bike path or ski across the wood bridge to the base of Fanny Hill. The Town of Snowmass free shuttle stops in front of this building as well. HOA fees include all utilities including internet and basic cable.” 2015 Taxes: $1,404; HOA Dues: $2,700per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 03/07/2016; Sold Date: 04/27/2016. (Photos and broker comments courtesy of Douglas Elliman Real Estate-SMV)
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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 at970.309.6163or byemail.The Estin Report is copyrighted 2016 and all rights reserved. Use is permitted subject to the following attribution with a live link to the source:“The Estin Reporton Aspen Real Estate.”
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