This is the 502th weekly blog post on the Estin Report !! Check out the SearchEstinAspen Section to find all kinds of hidden treasures. Over ten years have gone into building this archive.


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… If you want to find good-to-great values and motivated sellers in to-die-for stunningly beautiful settings 5-15 minutes beyond downtown Aspen, play the contrarian hand and rediscover and embrace the areas and neighborhoods the Aspen settler generation of the 1960’s through the 1980’s came to Aspen for…””

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 Mar 31, 2017(see charts through Q1 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 link to see additional charts
for Aspen and SMV by property types thru Mar 31, 2017 (Q1).

“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 18, April 30 – May 7, 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 (10):  MLS#s 141518, 139711, 144524, 145223, 146009, 146584, 146892, 147082, 147293, 147757. This link is valid until 6/6/2017.

Under Contract/Pending (11): MLS#s 141933, 132594, 143169, 143225, 143689, 143854, 145125, 146684, 146688, 147639, 148086. This link is valid until 6/6/2017.

Aspen Snowmass Solds Last Week:  


MLS #146584 – Mountain Valley, East Aspen, 91 E Lupine Drive, Aspen, CO. Sold Price: $7,950,000/$1,474 sq ft. More details below photos.
Aspen real estate 050717 146584 91 E Lupine Drive 1 590W  Aspen real estate 050717 146584 91 E Lupine Drive 2 590W  Aspen real estate 050717 146584 91 E Lupine Drive 3 190H Aspen real estate 050717 146584 91 E Lupine Drive 4 190H  Aspen real estate 050717 146584 91 E Lupine Drive 5 190H Aspen real estate 050717 146584 91 E Lupine Drive 6 190H
MLS #146584 – Mountain Valley, East Aspen, 91 E Lupine Drive, Aspen, CO. Sold Price: $7,950,000/$1,474 sq ft. Aspen single family residence for sale. Ask Price: $8,950,000. (Original Price: $8,950,000 and 214 days on the market since 09/30/2016.) This is a 2008 built and 2015 remodeled, 5 bedroom/5 bath/2 half-bath, 5,393 sq ft single family residence with 2 car garage on a 15,114 sq ft lot. Broker comments are “This sleek, modern home was designed as an homage to the Case Study Homes of the 1950 with countless gorgeous details in keeping with the luxury standards of today. The exterior is composed of custom zinc panels, sandblasted concrete, aluminum windows, floor glazing system, and tempered glass railings. A private garden and rooftop patio complete the outdoor living space. The lower level is completely below grade and offers the ideal family space including two guest rooms, exercise room , media room, and spacious wine cellar. On the main entry level, you will find two guest bedrooms, laundry and mudroom, and the spacious garage. The uppermost level is host to a cohesive dining room, kitchen, and living space with views glaore, opening to a balcony. The master suite also enjoys the views of the top floor. The private garden is accessible via cantilevered steel stairs on the exterior. Details such as the dumbwaiter are sure to charm.” 2015 taxes: $13,441. Under Contract Date: 03/17/2017; Sold Date: 05/02/2017. (Photos and broker comments courtesy of Palladium Properties)
MLS #139711 – Starwood, McLain Flats, 567 N Starwood Drive, Aspen, CO. Sold Price: $5,100,000/$984 sq ft; furnished. More details below photos.
Aspen real estate 050717 139711 567 N Starwood Drive 1 590W  Aspen real estate 050717 139711 567 N Starwood Drive 2 590W  Aspen real estate 050717 139711 567 N Starwood Drive 3 190H Aspen real estate 050717 139711 567 N Starwood Drive 4 190H  Aspen real estate 050717 139711 567 N Starwood Drive 5 190H Aspen real estate 050717 139711 567 N Starwood Drive 6 190H
MLS #139711 – Starwood, McLain Flats, 567 N Starwood Drive, Aspen, CO. Sold Price: $5,100,000/$984 sq ft; furnished. Aspen single family residence for sale. Ask Price: $5,995,000. (Original Price: $5,995,000 and 1,526 days on the market since 02/06/2013.) This is a 1977 built and 2012 remodeled, 4 bedroom/4 bath/1 half-bath, 5,178 sq ft single family residence with 2 car garage on a 2.17 acres lot. Broker comments are “Turn-key mountain contemporary home on over 2 acres with amazing mountain views! The light & bright open floor plan is perfect for casual family living & entertaining, and features 4 bedrooms, 4.5 baths, 5,178 square feet, modern kitchen with Wolf & SubZero appliances, office, 4 gas fireplaces, 2 bars, hardwood floors, and a 570 square foot two car garage. Conveniently located close to the Starwood gate, yet very private and just minutes to downtown Aspen.” 2015 taxes: $16,086; HOA Dues: $217 per Yr. Under Contract Date: 03/17/2017; Sold Date: 05/05/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #147757 – Meadowood, West Aspen, 0270 Heather Lane, Aspen, CO. Sold Price: $4,950,000/$1,051 sq ft; unfurnished. More details below photos.
Aspen real estate 050717 147757 0270 Heather Lane 1 590W  Aspen real estate 050717 147757 0270 Heather Lane 2 590W  Aspen real estate 050717 147757 0270 Heather Lane 3 190H Aspen real estate 050717 147757 0270 Heather Lane 4 190H  Aspen real estate 050717 147757 0270 Heather Lane 5 190H Aspen real estate 050717 147757 0270 Heather Lane 6 190H
MLS #147757 – Meadowood, West Aspen, 0270 Heather Lane, Aspen, CO. Sold Price: $4,950,000/$1,051 sq ft; unfurnished. Aspen single family residence for sale. Ask Price: $5,200,000. (Original Price: $5,200,000 and 66 days on the market since 02/26/2017.) This is a 1975 built and 2001 remodeled, 5 bedroom/5 bath, 4,706 sq ft single family residence with 2 car garage on a 42,597 sq ft lot. This is a fantastic lot overlooking abundant open space near Aspen School District fo walking to school. The home is expected to be demolished. Broker comments are “Directly adjacent to the private Meadowood open space, and only 300 yards to the Aspen Public Schools. Located at the cul-de-sac of Heather Lane is this 3 level home, built in 1975, then greatly enlarged and remodeled in 2001. An open living room, dining room and country kitchen is the middle floor, which leads up to the spacious master bedroom and light-filled bath. Downstairs are two bedrooms and contemporary bath, plus a mother-in-law apartment. In the other wing is the guest master, mudroom, laundry room and large 2-car garage, The .98 acre is full of mature aspen trees, and the lot allows for a new or expanded home of over 8000 +/- Square feet, plus 750 car garage. Wraparound decks, beautiful landscaping and gardens, outdoor dining patio and outdoor hot tub!” 2016 taxes: $14,687; HOA Dues: $1,014 per Yr. Under Contract Date: 03/04/2017; Sold Date: 05/03/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #146892 – Hallam Addition, West End, 614 W North Street, Aspen, CO. Sold Price: $4,625,000/$1,249 sq ft; unfurnished. More details below photos.
Aspen real estate 050717 146892 614 W North Street 1 590W  Aspen real estate 050717 146892 614 W North Street 2 590W  Aspen real estate 050717 146892 614 W North Street 3 190H  Aspen real estate 050717 146892 614 W North Street 4 190H  Aspen real estate 050717 146892 614 W North Street 5 190H Aspen real estate 050717 146892 614 W North Street 6 190H
MLS #146892 – Hallam Addition, West End, 614 W North Street, Aspen, CO. Sold Price: $4,625,000/$1,249 sq ft; unfurnished. Aspen single family residence for sale. Ask Price: $5,450,000. (Original Price: $5,450,000 and 151 days on the market since 12/01/2016.) This is a 1900 built and 1994 remodeled, 5 bedroom/3 bath/1 half-bath, 3,702 sq ft single family residence with 1 car garage on a 4,050 sq ft lot. Broker comments are “This spacious 5-bedroom home is situated on a quiet street in the West End, meaning easy access to some of the most celebrated institutions in the world, The Aspen Music Festival, the Aspen Institute, and the Aspen Center for Physics. The main level encompasses an open floor plan with two entertaining areas, where both parents and children can host their friends at the same time, but separately. Upper level offers a divine master suite with high ceilings, massive windows and its own office & private deck. Two more bedrooms can be found on this level. Lower level has yet another tv area with two more bedrooms. The exterior of the house affords the owner a wonderful mountain/Victorian aesthetic, and this coveted location allows for great wintertime or summertime fun.” 2016 taxes: $9,696. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/25/2017; Sold Date: 05/01/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #145223 – Fox Crossing, Smuggler, 536 Walnut Street, Aspen, CO. Sold Price: $4,425,000/$1,212 sq ft; furnished. More details below photos.
Aspen real estate 050717 145223 536 Walnut Street 1 590W  Aspen real estate 050717 145223 536 Walnut Street 2 590W  Aspen real estate 050717 145223 536 Walnut Street 3 190H Aspen real estate 050717 145223 536 Walnut Street 4 190H  Aspen real estate 050717 145223 536 Walnut Street 5 190H Aspen real estate 050717 145223 536 Walnut Street 6 190H
MLS #145223 – Fox Crossing, Smuggler, 536 Walnut Street, Aspen, CO. Sold Price: $4,425,000/$1,212 sq ft; furnished. Aspen single family residence for sale. Ask Price: $5,395,000. (Original Price: $5,600,000 and 298 days on the market since 07/08/2016.) This is a 2008 built, 4 bedroom/4 bath/2 half-bath, 3,649 sq ft single family residence with 2 car garage. Broker comments are “New look, new price! The Fox Crossing neighborhood is a short distance to downtown Aspen and offers Aspen Mountain views and panoramic views from Mt. Sopris to Independence Pass. This 4-bedroom home features a handsome timeless designed exterior and upgrades including; handscraped walnut floors; Caesarstone, limestone, and slate finishes, security system, air-conditioning, elevator, built-ins, Crestron A/V system with i-Pod docking stations throughout; outdoor hot tub, top-of-the-line appliances and Holly Hunt fixtures. The home is being sold furnished which includes custom beds, flat screens in every room, and more. This is a great full-time home or vacation home, is turnkey and provides one of the best single-family home values in Aspen. Great quality, great location, great value.” 2015 taxes: $9,634; HOA Dues: $1,592 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 04/11/2017; Sold Date: 05/02/2017. (Photos and broker comments courtesy of Compass)
MLS #147082 – Starwood, McLain Flats, 81 Danielson Drive, Aspen, CO. Sold Price: $3,750,000/$546 sq ft. More details below photos.
Aspen real estate 050717 147082 81 Danielson Drive 1 590W  Aspen real estate 050717 147082 81 Danielson Drive 2 190H Aspen real estate 050717 147082 81 Danielson Drive 3 190H
MLS #147082 – Starwood, McLain Flats, 81 Danielson Drive, Aspen, CO. Sold Price: $3,750,000/$546 sq ft. Aspen single family residence for sale. Ask Price: $3,800,000. (Original Price: $3,800,000 and 871 days on the market since 09/12/2014.) This is a 1980 built and 1995 remodeled, 5 bedroom/5 bath/1 half-bath/1 den/1 bonus room, 6,858 sq ft single family residence with 3 car garage on a 2.26 acres lot. Older home on a nice view lot selling at or near lot value. Broker comments are “This spacious home has an open floor plan almost 7,000 sq feet with roof top decks. Every window has views of the 4 ski areas.Located in Starwood an exclusive gated community in Aspen. Enjoy the Starwood lifestyle and still be so close to town. The house needs some of your personal touches to turn it into a spectacular show place.” 2016 taxes: $16,702; HOA Dues: $350 per Yr. Under Contract Date: 03/29/2017; Sold Date: 04/14/2017. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
MLS #141518 – Townsite of Aspen, West End, 735 W Bleeker Street, Aspen, CO. Sold Price: $1,852,500/$1,649 sq ft; partial-furnished. More details below photos.
Aspen real estate 050717 141518 735 W Bleeker Street 1 590W  Aspen real estate 050717 141518 735 W Bleeker Street 2 590W  Aspen real estate 050717 141518 735 W Bleeker Street 3 190H Aspen real estate 050717 141518 735 W Bleeker Street 4 190H  Aspen real estate 050717 141518 735 W Bleeker Street 5 190H Aspen real estate 050717 141518 735 W Bleeker Street 6 190H
MLS #141518 – Townsite of Aspen, West End, 735 W Bleeker Street, Aspen, CO. Sold Price: $1,852,500/$1,649 sq ft; partial-furnished. Aspen single family residence for sale. Ask Price: $1,895,000. (Original Price: $2,295,000 and 480 days on the market since 10/29/2015.) This is a 1900 built and 2004 remodeled, 2 bedroom/2 bath, 1,526 sq ft single family residence on a 3,000 sq ft lot. Broker comments are “One of Aspen’s most charming historical cabins! The perfect vacation home or a redevelopment opportunity with convenience and notability in Aspen’s coveted West End. The welcoming living room with vaulted ceiling, hardwood floors and potbelly stove are complementary to the hospitable front yard. Two sleeping lofts offer an extra 403 square feet for the kids play area or overnight guests. Features: radiant heat, central A/C, kitchen with gas range and stone and tile counters, steam shower, private patio with hot tub, mature landscaping, private no-through-street location, walk to the Music Tent and skier shuttle, fenced yard, ample basement storage and extra storage shed. Price per sq ft when including 2 sleeping lofts is $1,242.” 2017 taxes: $4,006. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/21/2017; Sold Date: 05/04/2017. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-SMV)
MLS #144524 – Sagewood Townhomes, West End, 910 W Hallam 10, Aspen, CO. Sold Price: $725,000/$887 sq ft; unfurnished. More details below photos.
Aspen real estate 050717 144524 910 W Hallam 10 1 590W  Aspen real estate 050717 144524 910 W Hallam 10 2 590W  Aspen real estate 050717 144524 910 W Hallam 10 3 190H Aspen real estate 050717 144524 910 W Hallam 10 4 190H
MLS #144524 – Sagewood Townhomes, West End, 910 W Hallam 10, Aspen, CO. Sold Price: $725,000/$887 sq ft; unfurnished. Aspen condo for sale. Ask Price: $765,000. (Original Price: $795,000 and 326 days on the market since 06/09/2016.) This is a 1970 built, 2 bedroom/1 bath, 817 sq ft condo. Broker comments are “Not on Main St, No road noise. Best location in Sagewood. Upper floor, corner unit, facing Red Mt with vaulted ceiling and skylights. Custom built-in’s benched and loft area for additional storage, wood burning fireplace. Kitchen and Bath have been remodeled, new wood flooring. Low HOA dues, dogs allowed, washer/dryer in unit, and off street parking. Private locker downstairs, approximately 2x3x7ft.” 2015 taxes: $1,856; HOA Dues: $1,560 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 02/21/2017; Sold Date: 05/01/2017. (Photos and broker comments courtesy of Laura Maggos Properties)
MLS #146009 – Galena Lofts, Central Core, 434 E Main Street #104, Aspen, CO. Sold Price: $575,000/$1,306 sq ft; furnished. More details below photos.
Aspen real estate 050717 146009 434 E Main Street 104 1 590W  Aspen real estate 050717 146009 434 E Main Street 104 2 590W  Aspen real estate 050717 146009 434 E Main Street 104 3 190H Aspen real estate 050717 146009 434 E Main Street 104 4 190H  Aspen real estate 050717 146009 434 E Main Street 104 5 190H Aspen real estate 050717 146009 434 E Main Street 104 6 190H
MLS #146009 – Galena Lofts, Central Core, 434 E Main Street #104, Aspen, CO. Sold Price: $575,000/$1,306 sq ft; furnished. Aspen condo for sale. Ask Price: $625,000. (Original Price: $625,000 and 235 days on the market since 09/12/2016.) This is a 2002 built, 1 bedroom/1 bath, 440 sq ft condo. Broker comments are “Perfect and private, don’t miss this opportunity to own a one bedroom condo with a peaceful outdoor patio area. Studio living in the heart of downtown Aspen. Opportunities abound in this modern building with only nine condos, pets are welcome and short-term rentals are allowed. Walk to everything and convenient parking available in the public parking garage just across Galena Plaza. Great park just behind the building. Furnishings included.” 2015 taxes: $1,242; HOA Dues: $407 per Month. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/29/2017; Sold Date: 05/05/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #147293 – Little Elk Creek, 84 Haystack Lane, Snowmass, CO: Sold Price: $850,000/$365 sq ft. More details below photos.
Aspen real estate 050717 147293 84 Haystack Lane 1 590W  Aspen real estate 050717 147293 84 Haystack Lane 2 590W  Aspen real estate 050717 147293 84 Haystack Lane 3 190H Aspen real estate 050717 147293 84 Haystack Lane 4 190H  Aspen real estate 050717 147293 84 Haystack Lane 5 190H Aspen real estate 050717 147293 84 Haystack Lane 6 190H
MLS #147293 – Little Elk Creek, 84 Haystack Lane, Snowmass, CO: Sold Price: $850,000/$365 sq ft. Old Snowmass single family residence for sale. Ask Price: $970,000. (Original Price: $1,000,000 and 607 days on the market since 04/17/2015.) This is a 1976 built and 2005 remodeled, 3 bedroom/1 bath/1 3/4-bath, 2,327 sq ft single family residence with a 2 car garage on 1 acre lot. Broker comments are “There is currently an accepted offer on the property that is pending court approval. Tastefully and extensively updated home on an irrigated one acre home site. Included are hickory floors throughout, vaulted ceilings, two fireplaces, beautiful custom alder cabinetry, and abundance of windows which fill the home with natural light and spectacular Elk Mountain views. The master suite encompasses the entire lower level and includes a custom private office, fireplace, two walk-in closets, steam shower and claw-foot tub. There is surround sound both inside and out on the deck. The seasonal irrigation stream and small pond enhance your experience on the extensive decks. A short drive to Aspen or Basalt but only minutes to National Forest.” 2015 taxes: $4,917; HOA Dues: $795 per Qtr. Under Contract Date: 03/23/2017; Sold Date: 05/04/2017. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Carbondale)

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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