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 mid-April, 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.

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Market Activity Week 15, April 9 – 16, 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 (8):  MLS#s 142133, 141210, 139281, 144933, 145253, 145357, 146646, 146979. This link is valid until 5/16/2017.

Under Contract/Pending (12): MLS#s 142152, 143697, 144426, 144465, 144706, 145223, 147352, 147458, 147759, 148208, 148370, 148384. This link is valid until 5/16/2017.

Aspen Snowmass Solds Last Week:  


MLS #146646 – Townsite of Aspen, Central Core, 118 E Cooper Avenue, Aspen, CO. Sold Price: $8,464,000/$1,265 sq ft. More details below photos.
Aspen real estate 041617 146646 118 E Cooper Avenue 1 590W  Aspen real estate 041617 146646 118 E Cooper Avenue 2 590W  Aspen real estate 041617 146646 118 E Cooper Avenue 3 190H Aspen real estate 041617 146646 118 E Cooper Avenue 4 190H  Aspen real estate 041617 146646 118 E Cooper Avenue 5 190H Aspen real estate 041617 146646 118 E Cooper Avenue 6 190H
MLS #146646 – Townsite of Aspen, Central Core, 118 E Cooper Avenue, Aspen, CO. Sold Price: $8,464,000/$1,268 sq ft. Aspen commercial industria for sale. Ask Price: $11,800,000. (Original Price: $11,800,000 and on the market since 06/18/16. Seller paid $5.1M on 03/03/14 and” completely renovated and transformed the former the former Little Red Ski Haus into a plush luxury vacation home”.) This is a 1888 built, 6,677 sq ft commercial lodge on a 4,500 sq ft lot. Broker comments are “In the center of town, best core location, this 6700 sq ft 14 bedroom, 13 and 1/2 bath with multiple entertaining areas is being offered at an unbeatable per square foot price, just blocks from the gondola and Lift 1A. Lowest price per sf on the Aspen mountain side of Main St. Currently operating as a vacation rental with impressive numbers. Residential and or commercial uses ok. Bed and breakfast ok. The possibilities are endless.” 2016 taxes: $31,765. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 02/05/2017; Sold Date: 04/14/2017. (Photos and broker comments courtesy of Douglas Elliman Real Estate-Hyman Ave)
MLS #139281 – West Meadow, West Aspen, 1330 Mountain View Drive, Aspen, CO. Sold Price: $7,300,000/$1,168 sq ft; furnished. More details below photos.
Aspen real estate 041617 139281 1330 Mountain View Drive 1 590W  Aspen real estate 041617 139281 1330 Mountain View Drive 2 590W  Aspen real estate 041617 139281 1330 Mountain View Drive 3 190H Aspen real estate 041617 139281 1330 Mountain View Drive 4 190H  Aspen real estate 041617 139281 1330 Mountain View Drive 5 190H Aspen real estate 041617 139281 1330 Mountain View Drive 6 190H
MLS #139281 – West Meadow, West Aspen, 1330 Mountain View Drive, Aspen, CO. Sold Price: $7,300,000/$1,168 sq ft; furnished. Aspen single family residence for sale. Ask Price: $8,295,000. (Original Price: $9,250,000 and 755 days on the market since 03/10/2015. The seller paid $1.8M on 06/17/13 for a 1978, 3 bdrm, 1,838 sq ft home – lot value.) Mountain View Dr is just of Cemetery Ln. This is a 2016 built, 6 bedroom/7 bath/1 half-bath, 6,250 sq ft single family residence with 2 car garage on a 15,029 sq ft lot. Broker comments are “Construction just completed. Located on a spacious south-facing lot in super family friendly Mountain View subdivision just off Cemetery Ln Bus Shuttle route in West Aspen, The 6,250 square feet includes 6 large en suite bedrooms, 7.5 spa-like baths, media room, wine room, fitness area, upper and lower laundries, generous storage areas, plus a 520 square foot two car garage. A floating staircase at the entryway serves as the central focal point of the home, complementing the expansive ground level that includes formal & informal dining areas, den, wonderful great room with gas fireplace, guest master bedroom suite, powder room, mud room, and sleek centrally positioned kitchen that is finished with a center island & bar, walk-in pantry, Caesarstone counters, walnut floors, private desk/office area, and premium stainless appliances including two dishwashers and a wine cooler. The upper level includes skylights, two en suite bedrooms, den/study, and the master suite with fireplace, sitting area/office & private patio. The glorious patio with a 48″ BBQ cooktop, fire pit and hot tub are divine for relaxing or entertaining. Less than 5 minutes to downtown Aspen.” 2016 taxes: $16,572; HOA Dues: $100 per Yr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 02/04/2017; Sold Date: 04/12/2017. (Photos and broker comments courtesy of Douglas Elliman Real Estate-Hyman Ave)
MLS #142133 – Riverside, Central Core, 1024 E Cooper Avenue 7, Aspen, CO. Sold Price: $1,325,000/$1,457 sq ft; furnished. More details below photos.
Aspen real estate 041617 142133 1024 E Cooper Avenue 7 1 590W  Aspen real estate 041617 142133 1024 E Cooper Avenue 7 2 190H Aspen real estate 041617 142133 1024 E Cooper Avenue 7 3 190H  Aspen real estate 041617 142133 1024 E Cooper Avenue 7 4 190H Aspen real estate 041617 142133 1024 E Cooper Avenue 7 5 190H
MLS #142133 – Riverside, Central Core, 1024 E Cooper Avenue 7, Aspen, CO. Sold Price: $1,325,000/$1,457 sq ft; furnished. Aspen condo for sale. Ask Price: $1,495,000. (Original Price: $1,495,000 and 444 days on the market since 12/29/2015.) East Cooper St is also Hwy 82 heading east out of town towards Indeendence Pass. This is a 1970 built 2015 remodeled, 2 bedroom/2 bath/1 half-bath, 909 sq ft condo. Broker comments are “Contemporary two bedroom, two & a half bath condo completely remodeled December 2015. Enjoy the expansive open kitchen, living and dining area with soaring ceilings and views of Aspen Mountain. The kitchen has all new stainless steel appliances and stone counter tops. The spacious master suite is on the first floor with large walk-in closet. The upstairs guest room has a private deck with Aspen Mountain views.” 2015 taxes: $2,243; HOA Dues: $1,335 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/19/2017; Sold Date: 04/11/2017. (Photos and broker comments courtesy of Whitman Fine Properties)
MLS #145357 – Silver Glo Condos, Central Core, 940 Waters Avenue Unit #305, Aspen, CO. Sold Price: $750,000/$1,056 sq ft; furnished. More details below photos.
Aspen real estate 041617 145357 940 Waters Avenue Unit 305 1 590W  Aspen real estate 041617 145357 940 Waters Avenue Unit 305 2 590W  Aspen real estate 041617 145357 940 Waters Avenue Unit 305 3 190H Aspen real estate 041617 145357 940 Waters Avenue Unit 305 4 190H  Aspen real estate 041617 145357 940 Waters Avenue Unit 305 5 190H Aspen real estate 041617 145357 940 Waters Avenue Unit 305 6 190H
MLS #145357 – Silver Glo, Central Core, 940 Waters Avenue Unit #305, Aspen, CO. Sold Price: $750,000/$1,056 sq ft; furnished. Aspen condo for sale. Ask Price: $775,000. (Original Price: $849,000 and 534 days on the market since 06/03/2015.) This is a 1970 built 2008 remodeled, 2 bedroom/2 bath, 710 sq ft condo. Broker comments are “Desirable top floor 2 bedroom 2 bath completely renovated and furnished unit facing Aspen Mountain to the south and Red Mountain to the north. Units 305 and 306 are adjoining, opportunity to have 4 bedrooms next to each other. Located 3 blocks to City Market and 4 blocks to the gondola. Great rental potential. On site management, pool area and ample parking. 24 hrs notice to show.” 2016 taxes: $1,841; HOA Dues: $6,828 per Yr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/05/2017; Sold Date: 04/10/2017. (Photos and broker comments courtesy of Frias Properties of Aspen)
MLS #144933 – Country Club, 257 Fairway Drive, Snowmass Village, CO: Sold Price: $1,800,000/$634 sq ft; furnished. More details below photos.
Aspen real estate 041617 144933 257 Fairway Drive 1 590W  Aspen real estate 041617 144933 257 Fairway Drive 2 590W  Aspen real estate 041617 144933 257 Fairway Drive 3 190H Aspen real estate 041617 144933 257 Fairway Drive 4 190H  Aspen real estate 041617 144933 257 Fairway Drive 5 190H Aspen real estate 041617 144933 257 Fairway Drive 6 190H
MLS #144933 – Country Club, 257 Fairway Drive, Snowmass Village, CO: Sold Price: $1,800,000/$634 sq ft; furnished. Snowmass Village single family residence for sale. Ask Price: $1,950,000. (Original Price: $1,950,000 and 285 days on the market since 07/01/2016.) This is a 1988 built, 4 bedroom/3 bath, 2,836 sq ft single family residence with 2 car garage on a 8,487 sq ft lot. Broker comments are “Perfectly located on the Snowmass Golf course with big views of Mount Daily and towards the ski area. Skiing is just a short walk to top of street to Two Creeks lift and Snowmass Club a short walk in the other direction. Well maintained four bedroom home or 3 bedrooms plus den with oversized kitchen, breakfast nook, ski room and office. Great deck outside kitchen to soak up the sun. A great street with lots of community feeling.” 2016 Taxes: $5,742; HOA Dues: $100 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 11/15/2016; Sold Date: 04/12/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Snowmass Village)
MLS #141210 – Ridge Run Vacant Lot Sale, 1951 Faraway Road, Snowmass Village, CO: Sold Price: $1,600,000. More details below photos.
Aspen real estate 041617 141210 1951 Faraway Road 1 590W  Aspen real estate 041617 141210 1951 Faraway Road 2 590W  Aspen real estate 041617 141210 1951 Faraway Road 3 190H Aspen real estate 041617 141210 1951 Faraway Road 4 190H
MLS #141210 – Ridge Run Vacant Lot Sale, 1951 Faraway Road, Snowmass Village, CO: Sold Price: $1,600,000. Snowmass Village single family vacant lot for sale. Ask Price: $1,895,000. (Original Price: $1,995,000 and 517 days on the market since 09/21/2015.) This is a 34,848 sq ft single family vacant lot.
Ski access is nearby – see aerial photo and ski access map. Broker comments are “Build the dream home in one of the last remaining lots in Snowmass Village. Off of upper loop of Faraway Road, this vacant lot has a flat building area and up to 4,500 square feet is allowed by right. The lot has potential for amazing views with easy driveway access. Ski in access is 3 house’s away and ski out is just as easy down West Fork run to Two Creeks. Homes sold on the across the street this past year for above $6,000,000. Do not let this opportunity pass you by.” 2016 Taxes: $14,309; HOA Dues: $90 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 03/14/2017; Sold Date: 04/12/2017. (Photos and broker comments courtesy of Douglas Elliman Real Estate-SMV)
MLS #145253 – Shadowbrook, 105 Campground Lane Unit 406, Snowmass Village, CO: Sold Price: $1,500,000/$695 sq ft; furnished. More details below photos.
Aspen real estate 041617 145253 105 Campground Lane Unit 406 1 590W  Aspen real estate 041617 145253 105 Campground Lane Unit 406 2 590W  Aspen real estate 041617 145253 105 Campground Lane Unit 406 3 190H Aspen real estate 041617 145253 105 Campground Lane Unit 406 4 190H  Aspen real estate 041617 145253 105 Campground Lane Unit 406 5 190H Aspen real estate 041617 145253 105 Campground Lane Unit 406 6 190H
MLS #145253 – Shadowbrook, 105 Campground Lane Unit 406, Snowmass Village, CO: Sold Price: $1,500,000/$695 sq ft; furnished. Snowmass Village condo for sale. Ask Price: $1,595,000. (Original Price: $1,595,000 and 268 days on the market since 07/20/2016.) This is a 1968 built and 2012 remodeled, 4 bedroom/3 bath, 2,156 sq ft condo. Broker comments are “Fantastic location with direct ski access from your door to the slopes! Spacious four bedroom with 2,156 sq ft. Amazing corner location next to park and stream. Beautifully furnished and remodeled in 2012. Direct ski-in and ski-out. Excellent rental property with outstanding rental management. Deck off of living room faces park and stream. Patio off living room with access to slopes, pool, jacuzzi. Super location to both Base Village and the Snowmass Mall. If you are looking for the perfect ski retreat for your family and friends – this is IT!” 2016 Taxes: $5,070; HOA Dues: $18,657 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 03/15/2017; Sold Date: 04/14/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Snowmass Village)
MLS #146979 – Meadow Ranch, 131 Meadow Ranch Drive, Snowmass Village, CO: Sold Price: $1,095,000/$624 sq ft. More details below photos.
Aspen real estate 041617 146979 131 Meadow Ranch Drive 1 590W  Aspen real estate 041617 146979 131 Meadow Ranch Drive 2 590W  Aspen real estate 041617 146979 131 Meadow Ranch Drive 3 190H Aspen real estate 041617 146979 131 Meadow Ranch Drive 4 190H  Aspen real estate 041617 146979 131 Meadow Ranch Drive 5 190H Aspen real estate 041617 146979 131 Meadow Ranch Drive 6 190H
MLS #146979 – Meadow Ranch, 131 Meadow Ranch Drive, Snowmass Village, CO: Sold Price: $1,095,000/$624 sq ft. Snowmass Village duplex/half-duplex for sale. Ask Price: $1,095,000. (Original Price: $1,095,000 and 72 days on the market since 12/15/2016.) This is a 1978 built, 3 bedroom/3 bath, 1,753 sq ft duplex/half-duplex. Broker comments are “One of a kind Meadow Ranch Duplex with 3 bedrooms, 3 full bathrooms and 1753 sq. ft. The property backs up to open space on two sides providing unique privacy and views. The large lower deck features a hot tub, has access from the master and guest bedrooms, and the ability walkout to a flat, manicured lawn area. Light and bright with high ceilings, large windows, skylights and recessed LED lighting. Enjoy a chefs kitchen with Wolf gas range, built-in appliances, granite slab counters, and under cabinet lighting. Living room with wood burning fireplace with hearth and pull down TV mount adjoins a bonus space currently used as a playroom with built-in cabinetry and large walk-in storage.” 2015 Taxes: $2,805; HOA Dues: $1,610 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 02/22/2017; Sold Date: 04/07/2017. (Photos and broker comments courtesy of Douglas Elliman Real Estate-Durant)

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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 the source: “The Estin Report on Aspen Real Estate.”

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