The Estin Report - Aspen, Colorado
The Estin Report - Aspen, Colorado The Estin Report - Aspen, Colorado The Estin Report - Aspen, Colorado

  The Estin Report
 
Aspen real estate intelligence ©

  

Be informed, be educated, be advised by one the town's best real estate brokers according to local media. Aspen Sotheby's Int'l broker agent Tim Estin MBA, GRI authors the primary market guide for Aspen Snowmass real estate, homes for sale and property info - the #1 trusted Aspen real estate market resource.  Original reports and over 14,000 pages of current and archived content. Call Tim for expert guidance and counsel.

   The Estin Report
      
Aspen real estate intelligence ©

 

Be informed, be educated, be advised by one the town's best real estate brokers reports the local media. Aspen Sotheby's Int'l broker agent Tim Estin MBA, GRI authors the primary market guide for Aspen Snowmass real estate, homes for sale and property info - the #1 trusted Aspen real estate market resource. Original reports and over 14,000 pages of current and archived content. For expert guidance and counsel, please call or txt 970.309.6163.

Tim Estin

Tim Estin MBA, GRI
970.309.6163 cell + text

 



Broker Associate
Aspen Snowmass Sotheby's
International Real Estate
300 S.Spring St #100
Aspen, CO 81611

 

Aspen Mountain Standard Time 
(MST)

 

Feb 2017
Market-at-a-Glance
Heading into peak
season: Feb-Apr.
Sales activity rising
significantly...
Trump trade:
Financial markets up.
Rates rising.
Inventory declining
in most desirable areas.
Market favors sellers
in West End and Downtown
Core, but favors buyers
outside these areas where
opportunities abound.
Two tiered pricing levels:
1) New-built contemporary
= premium prices;
2) Everything else
= negotiable.

.

 

(See Interest Rate Historical Chart

since 1790 and

Consumer Price Calculator)

 

 

The Estin Report - Aspen, Colorado
The Estin Report - Aspen, Colorado
The Estin Report - Aspen, Colorado

Feb 12 - 19, 2017 Estin Report: Last Week's Aspen Snowmass Real Estate Sales & Stats: Closed (6) + Under Contract / Pending (11)


The Jan 2017 Aspen Snowmass Real Estate Monthly Market Snapshot has been posted in Current ReportsThe Monthly Snapshots are usually posted on or near the 1st Monday of the month. The Q4 and Year 2016 report will be released soon.

 

Bottom Line

The Jan 2017 Aspen real estate market* is up 33% in unit sales and 117% in dollar volume over Jan 2016. But in Jan ‘16, the stock market was plummeting and the local real estate market went deep south. The year-to-year comparison is from a low base. Current sales are approximately 50% better than Jan 2016 and 50% less than a sizzling Jan 2015  - we’re in the middle of the past two years of performance.

Post Nov.‘16 election sales finally started picking up relative to the dismal 1st Half of 2016 caused by paralyzing political uncertainty. Sales continue to be on the rise now.

Of particular note, in Jan 2017 the number of under contracts (UC's)/Pendings exceeded Jan 2016 by 142%, (29) now versus (12) then. UC's - properties that are have gone under contract but not yet closed (and may not)  - are viewed as an indicator of future activity.

*In Jan 2017, Aspen unit and dollar sales represent 67% of total Aspen and SMV combined sales.Typically, they represent 70-80% of total combined sales.

New Charts: Historic Pace of Aspen and Snowmass Village Homes, Condos and Vacant Land / Lots by Dollar Sales and Unit Sales

These charts were posted in Current Reports on 02/15/17. 

Here are new charts to be updated every quarter. They are: the historic pace of dollar and unit sales since 2006 with trend lines for Aspen and Snowmass Village (SMV) separately by: 1) all properties combined; 2) single family homes; 3) condos; 4) vacant land / lots. (Fractionals, with the exception of extreme sales, are not included.)
As the unit sales drop-off in the 2nd Half 2007 so foreshadowed the Great Recession, sales velocity or pace, whether by dollar or unit sales, is extremely useful to consider.
While many real estate professionals use dollar sales as the single metric for sales performance (it often looks 'better'), unit sales are a better measure of market activity. Dollar sales can be skewed disproportionately by extreme high or low end 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 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 7, February 12 - 19, 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 (6):  MLS#s 147590, 144754, 142138, 147216, 141898, 146065. This link is valid until 3/21/2017.

Under Contract/Pending (11)MLS#s 141518, 140627, 141786, 142825, 143570, 144612, 145291, 146266, 146882, 147396, 147516. This link is valid until 3/21/2017.

Aspen Snowmass Solds Last Week:  


No Photo available in MLS for this Central Core condo. 
 
MLS #147590 - Aspen Townhouse Central Condos, Central Core, 124 E Durant treet 2, Aspen, CO. Sold Price: $1,650,000/$1,690 sq ft. Aspen condo for sale. Ask Price: $1,650,000. (Original Price: $1,650,000 and on the market since 02/15/2017. The seller paid $1.1M on 08/06/13.)) This is a 1968 built, 3 bedroom/2 bath, 976 sq ft condo. Broker comments are "Sold before MLS." 2015 taxes: $3,041. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 02/15/2017; Sold Date: 02/15/2017. (Photos and broker comments courtesy of Douglas Elliman Real Estate-Hyman Ave) 
 
MLS #144754 - Aspen Square Condominiums, Central Core, 617 E Cooper Avenue Unit 103, Aspen, CO. Sold Price: $1,505,000/$1,800 sq ft; furnished. More details below photos.
Aspen real estate 021917 144754 617 E Cooper Avenue Unit 103 1 590W  Aspen real estate 021917 144754 617 E Cooper Avenue Unit 103 2 590W  Aspen real estate 021917 144754 617 E Cooper Avenue Unit 103 3 190H Aspen real estate 021917 144754 617 E Cooper Avenue Unit 103 4 190H  Aspen real estate 021917 144754 617 E Cooper Avenue Unit 103 5 190H Aspen real estate 021917 144754 617 E Cooper Avenue Unit 103 6 190H
MLS #144754 - Aspen Square Condominiums, Central Core, 617 E Cooper Avenue Unit 103, Aspen, CO. Sold Price: $1,505,000/$1,800 sq ft; furnished. Aspen condo for sale. Asking Price: $1,525,000. (Original Price: $1,525,000 and 246 days on the market since 06/13/2016.) This is a 1969 built, 2 bedroom/2 bath, 836 sq ft condo. Broker comments are "Experience the unparalleled convenience of this two-bedroom, two-bath Aspen Square condominium. This is a rare opportunity to own a dream location for skiers and snowboarders with direct access from your own private patio just 67 steps to Gondola Plaza. Enjoy south facing light and views of Aspen Mountain up S. Spring Street with easy access to City Market, The Grog Shop, or any of Aspen’s world-class shops and restaurants. A second common patio area is located on the north side of the unit. Two owner lock-off closets and exterior ski storage offer plenty of owner storage for all your sports gear. In addition to the master suite with king bed, twin beds in the guest bedroom, and a pull out couch in the living area will accommodate friends and family. A wood-burning fireplace warms the open kitchen, living and dining area, an ideal après ski setting to entertain. The complex is maintained beautifully year-round, with amenities that include full-time front desk, daily housekeeping, concierge services, fitness room, pool, hot tubs, fire pit, underground parking, and conference facilities." 2015 taxes: $3,016; HOA Dues: $32,703 per Yr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/30/2017; Sold Date: 02/14/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Hyman Mall)
 
MLS #142138 - 352 Snowmass Creek Rd, Snowmass, CO: Vacant Land. Sold Price: $400,000. More details below photos.
Aspen real estate 021917 142138 352 Snowmass Creek Rd 1 590W  Aspen real estate 021917 142138 352 Snowmass Creek Rd 2 590W  Aspen real estate 021917 142138 352 Snowmass Creek Rd 3 190H Aspen real estate 021917 142138 352 Snowmass Creek Rd 4 190H
MLS #142138 - 352 Snowmass Creek Rd, Snowmass, CO: Vacant Land. Sold Price: $400,000. Old Snowmass vacant land for sale. Asking Price: $450,000. (Original Price: $450,000 and 782 days on the market since 01/02/2016.) This is a 1 acre single family vacant lot. Broker comments are "Come see this gorgeous lot on Snowmass Creek Road. This property sits on one acre overlooking Snowmass Creek with views South looking towards Old Snowmass and West looking up the Roaring Fork Valley. Live in the existing house while you plan your new home. This is a great development opportunity, with 5,750 SF of FAR. The property shares a driveway with Lot 1, a total of 59 acres, which is also on the market and could be purchased together to create a family compound, See MLS #142139. This property is 14 miles from Aspen and a short drive to some of the best hunting and fly fishing in the country. It also stands at a very short distance from the Roaring Fork Club, an incredible Private Club and Golf Course." 2014 Taxes: $1,655. Under Contract Date: 01/02/2017; Sold Date: 02/13/2017. (Photos and broker comments courtesy of Aspen Associates Realty)
 
MLS #147216 - Water View Condominiums, Woody Creek, 309 Waterview Drive, Snowmass, CO: Sold Price: $297,500/$601 sq ft; furnished. More details below photos.
Aspen real estate 021917 147216 309 Waterview Drive 1 590W  Aspen real estate 021917 147216 309 Waterview Drive 2 590W  Aspen real estate 021917 147216 309 Waterview Drive 3 190H Aspen real estate 021917 147216 309 Waterview Drive 4 190H  Aspen real estate 021917 147216 309 Waterview Drive 5 190H Aspen real estate 021917 147216 309 Waterview Drive 6 190H
MLS #147216 - Water View Condo, Woody Creek, 309 Waterview Drive, Snowmass, CO: Sold Price: $297,500/$601 sq ft; furnished. Aspen condo for sale. Asking Price: $315,000. (Original Price: $315,000 and 38 days on the market since 01/09/2017.) This is a 1970 built and 2013 remodeled, 1 bedroom/1 bath, 495 sq ft condo. Broker comments are "Top floor, furnished, riverfront 1 bed/1 bath condo, only 20 minutes to Aspen! Beautifully completely remodeled in 2013 in a contemporary style with wood floors and cabinetry, stainless appliances, sleek countertops and washer and dryer in unit. Private deck overlooking the river and the common lawn and BBQ area. Plenty of parking, assigned storage, low HOA fees which include the heat. Makes a great primary residence, second home or rental." 2016 Taxes: $1,573; HOA Dues: $382 per Month. Under Contract Date: 01/12/2017; Sold Date: 02/16/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Hyman Mall)
 
MLS #141898 - Horse Ranch, 380 Branding Lane, Snowmass Village, CO: Vacant Lot. Sold Price: $1,325,000. More details below photos.
Aspen real estate 021917 141898 380 Branding Lane 1 590W  Aspen real estate 021917 141898 380 Branding Lane 2 590W  Aspen real estate 021917 141898 380 Branding Lane 3 190H Aspen real estate 021917 141898 380 Branding Lane 4 190H
MLS #141898 - Horse Ranch, 380 Branding Lane, Snowmass Village, CO: Sold Price: $1,325,000. Vacant Lot for sale. Asking Price: $1,500,000. (Original Price: $1,500,000 and 435 days on the market since 12/06/2015.) This is a 24,786 sq ft single family vacant lot. Broker comments are "One of the last, and certainly best, vacant lots remaining in Snowmass. The seller, an original owner, had his choice of Horse Ranch sites, and this was it. End of cul-de-sac privacy and unfettered 270-degree views toward the Cont'l Divide, the tops of Ajax and Highlands, Burnt Mtn, Hidden Valley, the golf course and Horse Ranch pastures below. Flat building site and sunny all day. Property has been surveyed and staked (lot corners in pink, envelope corners in orange)." 2016 Taxes: $14,310; HOA Dues: $190 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 11/14/2016; Sold Date: 02/13/2017. (Photos and broker comments courtesy of Berkshire Hathaway Homeservices | Aspen Snowmass Properties)
 
MLS #146065 - Country Club Villas, 294 Snowmass Club Circle 1211, Snowmass Village, CO: Sold Price: $1,200,000/$648 sq ft; furnished. More details below photos.
Aspen real estate 021917 146065 294 Snowmass Club Circle 1211 1 590W  Aspen real estate 021917 146065 294 Snowmass Club Circle 1211 2 590W  Aspen real estate 021917 146065 294 Snowmass Club Circle 1211 3 190H Aspen real estate 021917 146065 294 Snowmass Club Circle 1211 4 190H  Aspen real estate 021917 146065 294 Snowmass Club Circle 1211 5 190H Aspen real estate 021917 146065 294 Snowmass Club Circle 1211 6 190H
MLS #146065 - Country Club Villas, 294 Snowmass Club Circle 1211, Snowmass Village, CO: Sold Price: $1,200,000/$648 sq ft; furnished. Snowmass Village condo for sale. Asking Price: $1,299,000. (Original Price: $1,375,000 and 159 days on the market since 09/09/2016.) This is a 1981 built, 3 bedroom/2 bath/1 half-bath, 1,850 sq ft condo. Broker comments are "Beautifully renovated Country Club Villa with the layout and size of a townhome. Two stories both with large decks, views of Mt. Daly and the golf course. Custom remodel, high end furnishings, air conditioning on second level. Use of covered parking space. Comes with a membership to the Snowmass Club, with $35 cart fee for golf, 5 pools, indoor and outdoor tennis, gym and spa facilities. Can be short term rental property or keep to yourself. HOA dues include cable, internet, phone, trash, water, grounds and building maintenance." 2016 Taxes: $4,365; HOA Dues: $5,318 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 01/23/2017; Sold Date: 02/15/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Snowmass Village)
 
 

Recent Estin Report tweets on Aspen Real Estate

EstinAspen Feb 12 - 19, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (6) + Under Contract (11) https://t.co/LWU2jMWVYR
EstinAspen NEW! #EstinReport Historic Pace of Sales Charts by Quarter for #AspenHomes, #AspenCondos & Lots in #AspenRealEstate https://t.co/qBqWgHc0VP
EstinAspen January 2017 #EstinReport Just Released #AspenRealEstate Market Snapshot: https://t.co/6zV9Mx95YH
EstinAspen Feb 5 - 12, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (5) + Under Contract (16) https://t.co/TCqfzE7mYk
EstinAspen Jan 22 - 29, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (4) + Under Contract (11) https://t.co/evcTYOvjlt
EstinAspen Jan 15 - 22, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (5) + Under Contract (10) https://t.co/pRxb7V5Nfd
EstinAspen Jan 8 -15, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (12) + Under Contract (8) https://t.co/HvqQYCTiui
EstinAspen Jan 1 - 8, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (5) + Under Contract (10) https://t.co/Pz76BjG1po

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 emailThe 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."

____________________________________________________________________________________

Feb 5 - 12, 2017 Estin Report: Last Week's Aspen Snowmass Real Estate Sales & Stats: Closed (5) + Under Contract / Pending (16)


The Jan 2017 Aspen Snowmass Real Estate Monthly Market Snapshot has been posted in Current ReportsThe Monthly Snapshots are usually posted on or near the 1st Monday of the month. The Q4 and Year 2016 report will be released soon.

 

Bottom Line

The Jan 2017 Aspen real estate market* is up 33% in unit sales and 117% in dollar volume over Jan 2016. But in Jan ‘16, the stock market was plummeting and the local real estate market went deep south. The year-to-year comparison is from a low base. Current sales are approximately 50% better than Jan 2016 and 50% less than a sizzling Jan 2015  - we’re in the middle of the past two years of performance.

Post Nov.‘16 election sales finally started picking up relative to the dismal 1st Half of 2016 caused by paralyzing political uncertainty. Sales continue to be on the rise now.

Of particular note, in Jan 2017 the number of under contracts (UC's)/Pendings exceeded Jan 2016 by 142%, (29) now versus (12) then. UC's - properties that are have gone under contract but not yet closed (and may not)  - are viewed as an indicator of future activity.

*In Jan 2017, Aspen unit and dollar sales represent 67% of total Aspen and SMV combined sales.Typically, they represent 70-80% of total combined sales.

New Charts: Historic Pace of Aspen and Snowmass Village Homes, Condos and Vacant Land / Lots by Dollar Sales and Unit Sales

These charts were posted in Current Reports on 02/15/17. 

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

We have learned lessons from the Great Recession: as the sales drop-off in the 2nd Half 2007 so foreshadowed the recession, sales velocity or pace, whether by dollar or unit sales, is extremely useful to consider.

Here are new charts I've recently completed: the historic pace of dollar and unit sales since 2006 with trend line for both Aspen and Snowmass Village (SMV) by all properties combined, by single family homes, by condos. and by vacant land / lots. (Fractionals, with the exception of extreme sales, are not included.)

Of course, the starting point for the trend line affects its outcome....the purpose of these charts is to highlight activity since the 2006 market peak as clients often ask, "Where are we now compared to...?"

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 (12/28/16) as additional re-sale properties come on the market at significantly higher prices.

___________

Market Activity Week 6, February 5 - 12, 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 (5):  MLS#s 146719, 143256, 143237, 144716, 142846. This link is valid until 3/14/2017.

Under Contract/Pending (16)MLS#s 140094, 140993, 139281, 142745, 141837, 142816, 144612, 145188, 146047, 146626, 146646, 147050, 147141, 147323, 147357, 147541. This link is valid until 3/14/2017.

Aspen Snowmass Solds Last Week:  


MLS #144716 - East Aspen, 1235 E Cooper Avenue Units #1-8, Aspen, CO. Sold Price: $5,000,000. More details below photos.
Aspen real estate 011217 144716 1235 E Cooper Avenue Units 1 8 1 590W  Aspen real estate 011217 144716 1235 E Cooper Avenue Units 1 8 2 590W Aspen real estate 011217 144716 1235 E Cooper Avenue Units 1 8 3 190H  Aspen real estate 011217 144716 1235 E Cooper Avenue Units 1 8 5 190H Aspen real estate 011217 144716 1235 E Cooper Avenue Units 1 8 6 190H
MLS #144716 - East Aspen, 1235 E Cooper Avenue Units #1-8, Aspen, CO. Sold Price: $5,000,000. Asking Price: $5,500,000. (Original Price: $6,80,000 and on the market since 03/17/15.) This is a 22,656 sq ft multi-family vacant lot. Broker comments are "Unique development opportunity located just a few blocks east of Aspen's commercial core. This 22,656 square foot lot is zoned R-6, which will allow for up to four (4) detached homes. See Development Analysis done by Alan Richman Planning Services. There is an existing/occupied 8 unit condominiumized multi family building with 8 separate owners. There exists the potential to rezone this property to Residential Multi Family (RMF) or Affordable Housing (AH) and increase the developable Floor Area Ratio to 1.5:1. The property is being sold ''as is''. While the existing units are all occupied and could generate significant rental income to a new owner, the assumption is that the building will be torn down and the land redeveloped." 2016 taxes: $10,255; HOA Dues:$12,168 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 11/09/2016; Sold Date: 02/02/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Hyman Mall)
 
MLS #142846 - Mountain Valley, East Aspen, 100 Mountain Laurel Court, Aspen, CO. Sold Price: $2,300,000/$1,060 sq ft. More details below photos.
Aspen real estate 011217 142846 100 Mountain Laurel Court 1 590W  Aspen real estate 011217 142846 100 Mountain Laurel Court 2 190H Aspen real estate 011217 142846 100 Mountain Laurel Court 3 190H  Aspen real estate 011217 142846 100 Mountain Laurel Court 4 190H Aspen real estate 011217 142846 100 Mountain Laurel Court 5 190H
MLS #142846 - Mountain Valley, East Aspen, 100 Mountain Laurel Court, Aspen, CO. Sold Price: $2,300,000/$1,060 sq ft. Asking Price: $2,495,000. (Original Price: $2,795,000 and 345 days on the market since 02/29/2016.) This is a 1967 built and 2014 remodeled, 4 bedroom/3 bath, 2,169 sq ft single family residence with 1 car garage on a 19,301 sq ft lot. Broker comments are "Located at the end of a cul-de-sac on Mountain Laurel Ct., this private 19,301 sq. foot lot backs up to US Forest Service land and has water rights in a seasonal ditch adjacent to the secluded back deck. The 4-bedroom home was remodeled in 2014 creating a balance of contemporary and rustic interiors. The open living, dining and kitchen areas have vaulted ceilings, wood-burning fireplace and views towards the ridgeline of Aspen Mountain. The master suite has access to both the front and back decks, a walk-in closet and the hot tub area. Public transportation and Dial-a-ride allows for easy access to town along with the trail systems. One of the lowest priced single family homes in the Aspen area." 2015 taxes: $4,693; HOA Dues: $200 per Yr. Under Contract Date: 02/01/2017; Sold Date: 02/08/2017. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
 
MLS #143237 - Chateau Chaumont, Central Core, 731 E Durant Avenue #6, Aspen, CO. Sold Price: $950,000/$1,139 sq ft; furnished. More details below photos.
Aspen real estate 011217 143237 731 E Durant Avenue 6 1 590W  Aspen real estate 011217 143237 731 E Durant Avenue 6 2 590W  Aspen real estate 011217 143237 731 E Durant Avenue 6 3 190H Aspen real estate 011217 143237 731 E Durant Avenue 6 4 190H  Aspen real estate 011217 143237 731 E Durant Avenue 6 5 190H Aspen real estate 011217 143237 731 E Durant Avenue 6 6 190H
MLS #143237 - Chateau Chaumont, Central Core, 731 E Durant Avenue #6, Aspen, CO. Sold Price: $950,000/$1,139 sq ft; furnished. Asking Price: $999,000. (Original Price: $1,495,000 and on the market since 02/19/08.) This is a 1968 built and 2006 remodeled, 2 bedroom/2 bath, 834 sq ft condo. It is located on the ground floor inside corner of the complex and gets indirect sun light with no views. On the plus side, it is less than 1/2 block to the Gondola and once Sky Hotel is redeveloped as a W Hotel (constructions starts spring/summer 2017) the location will be even more desirable. Broker comments are "This beautifully remodeled two bedroom, two bath Chateau Chaumont condo enjoys one of the best locations in town. Granite countertops, custom kitchen cabinets, updated bathrooms, and a wood burning fireplace are just some of the upgrades. This entry level condo opens to the spacious courtyard with hot tub and is just steps to the gondola, shopping, and restaurants. A fantastic condo to enjoy Aspen, as well as a great rental property! Actual furnishings may vary from photos." 2015 taxes: $2,237; HOA Dues: $2,250 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 12/01/2016; Sold Date: 02/03/2017. (Photos and broker comments courtesy of Whitman Fine Properties)
 
MLS #143256 - Sagewood Townhomes, West End, 910 W Hallam Street #3, Aspen, CO. Sold Price: $730,000/$834 sq ft; partial-furnished. More details below photos.
Aspen real estate 011217 143256 910 W Hallam Street 3 1 590W  Aspen real estate 011217 143256 910 W Hallam Street 3 2 590W  Aspen real estate 011217 143256 910 W Hallam Street 3 3 190H Aspen real estate 011217 143256 910 W Hallam Street 3 4 190H  Aspen real estate 011217 143256 910 W Hallam Street 3 5 190H Aspen real estate 011217 143256 910 W Hallam Street 3 6 190H
MLS #143256 - Sagewood Townhomes, West End, 910 W Hallam Street #3, Aspen, CO. Sold Price: $730,000/$834 sq ft; partial-furnished. Asking Price: $765,000. (Original Price: $825,000 and 297 days on the market since 03/28/2016.) This is a 1970 built and 2010 remodeled, 2 bedroom/1 bath, 875 sq ft condo. The complex is located on the north side of Hwy 82/ at the entry of the S-Turn coming into town from the airport. It is on the main Aspen bus line and convenient to all points. Broker comments are "Charming south facing two bedroom condo located in Aspen’s West End. Walk to the music tent, the Aspen Meadows & Institute, the golf course, and numerous hiking and biking trails. Bike or walk to town. Grab a We-Cycle across the street. Catch free buses everywhere, including all ski areas, mere steps from your front door. Open floor plan, hard wood floors, sun porch, wood burning fireplace, stainless appliances, remodeled bath with Jacuzzi tub and separate shower, washer & dryer, storage, onsite parking, and low HOA fees including everything but electric. Relax on your deck while grilling or enjoying your own private garden. Dogs allowed for owners and renters. This is the best kept secret in Aspen. Summer rental was $4,500 per month." 2015 taxes: $1,623; HOA Dues: $15,60 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 12/13/2016; Sold Date: 02/03/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Hyman Mall)
 
MLS #146719 - BANK REO SALE, Melton Ranch, 365 Sinclair Road, Snowmass Village, CO: Sold Price: $1,312,500/$384 sq ft. More details below photos.
Aspen real estate 011217 146719 365 Sinclair Road 1 590W  Aspen real estate 011217 146719 365 Sinclair Road 2 590W  Aspen real estate 011217 146719 365 Sinclair Road 4 190H Aspen real estate 011217 146719 4 Sinclair Road 3 190H  Aspen real estate 011217 146719 365 Sinclair Road 5 190H Aspen real estate 011217 146719 365 Sinclair Road 6 190H
MLS #146719 - BANK REO SALE, Melton Ranch, 365 Sinclair Road, Snowmass Village, CO: Sold Price: $1,312,500/$384 sq ft. Asking Price: $1,399,000. (Original Price: $1,600,000 and 134 days on the market since 01/21/2016. The property sold previously at $1,937,500 on 05/28/2006.) This is a 1969 built, 6 bedroom/3 bath, 3,410 sq ft single family residence with 2 car garage on a 25,087 sq ft lot. The property is located within the Aspen chool District. Broker comments are "SOLD AS-IS*BUYER TO VERIFY HOA & INFORMATION PROVIDED. Great value for this Snowmass Village single family home. Private location with stunning views. Lots of potential to make this the ski home of your dreams! Bright, open floor plan w/ vaulted ceilings. Mother in-law suite on lower level. Great outdoor living space & expansive decks with views galore. Close to hiking trails & steps to bus line. Don't miss out on this great Snowmass home! Auction will be open from 12/10-12/15/16" 2015 Taxes: $4,408; HOA Dues: $90 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 12/29/2016; Sold Date: 02/06/2017. (Photos and broker comments courtesy of Mercury Alliance Mountain Properties)
 
 

Recent Estin Report tweets on Aspen Real Estate

EstinAspen Feb 12 - 19, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (6) + Under Contract (11) https://t.co/LWU2jMWVYR
EstinAspen NEW! #EstinReport Historic Pace of Sales Charts by Quarter for #AspenHomes, #AspenCondos & Lots in #AspenRealEstate https://t.co/qBqWgHc0VP
EstinAspen January 2017 #EstinReport Just Released #AspenRealEstate Market Snapshot: https://t.co/6zV9Mx95YH
EstinAspen Feb 5 - 12, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (5) + Under Contract (16) https://t.co/TCqfzE7mYk
EstinAspen Jan 22 - 29, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (4) + Under Contract (11) https://t.co/evcTYOvjlt
EstinAspen Jan 15 - 22, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (5) + Under Contract (10) https://t.co/pRxb7V5Nfd
EstinAspen Jan 8 -15, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (12) + Under Contract (8) https://t.co/HvqQYCTiui
EstinAspen Jan 1 - 8, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (5) + Under Contract (10) https://t.co/Pz76BjG1po

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 emailThe 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."

____________________________________________________________________________________

Jan 29 - Feb 5, 2017 Estin Report: Last Week's Aspen Snowmass Real Estate Sales & Stats: Closed (11) + Under Contract / Pending (10)


The Jan 2016 Aspen Snowmass Real Estate Monthly Market Snapshot has been posted  in Current Reports. The Monthly Snapshots are usually posted on or near the 1st Monday of the month. My Q4 and Year 2016 report will be released soon.

Below is a new chart I'm working on: the historic pace of sales since 2006 with a trend line (to be added). Additional charts are: pace of sales by property types: all property types combined separately for Aspen and SMV; by area and property types - Aspen and Snowmass single family homes, condos. and vacant land. (Fractionals are not included.)
Unit sales are the true measure of market activity - as the sales drop-off in the 2nd Half 2007 so presaged the coming recession, sales velocity or pace is useful to consider. 

An Aspen Times article in August  2016,  "Aspen real estate: Was 2015 that good or is 2016 that bad?", suggested that it was misguided to compare 2016 to a record year like 2015. This chart, and many other Estin Report Monthly Snapshots posted during 2016, demonstrate that thinking wrong. 2016 was a very bad Aspen real estate year, especially the 1st Half, the worst since 2010. Most notably, Aspen single family home sales for the year were off 50-60% and sales of properties over $10M were down a stunning 65%. Everyone including me,  blamed the election and the attendant uncertainty. Few suggested the lack of sales may have been due to speculative and unrealistic pricing turning buyers off and away. As we head into 2017, we shall see.  Since the election, sales activity has been picking up as the charts indicate.

To enlarge, click on either chart.

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

 

 011817 Estin Report Historic Aspen real estate pace of sales since 2006 96res590w

 

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

Nov 2016 Market Snapshot excerpt:

"Nov '16 has been less 'bad' than Oct or Sep. The uncertainty of the election has passed, the "Trump Trade" has pushed the stock market to record highs and the financial markets are bullish. Historically, these are good omens for Aspen real estate.

For the past two years, the Aspen residential market is being driven by speculative activity in the form of a small handful of REIT type investment groups. In particular, these groups dominated buyer activity in 2015 and new-built home listings in 2016. There are approximately 20-25 brand new spec homes in various stages of construction with some having sold or are under contract validating never-seen-before new pricing levels in specifically the Aspen Core, Historic West End and newer homes on Red Mountain.."

The Estin Report: 2nd Quarter and 1st Half 2016 State of the Aspen Real Estate Market with narrative, charts, tables photos was posted in Current Reports as PDF (v6.6) on July 20th. The print edition is available at kiosks around town, at Sothebys/415 E. Hyman Mall, Sothebys/300 S. Spring St and at the airport. 

072016 Q2 H1 2015 Estin Report State of the Aspen Market cover final 96Res 350wX457Click cover above for Exec. Summary and full 28-Pg Report PDF

See recent Before/After redevelopment 'flip job' examples in Miscellaneous Info Section at 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 (12/28/16) as additional re-sale properties come on the market at significantly higher prices.

___________

Market Activity Week 5, January 29 - February 5, 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 130921, 145208, 142426, 143749, 144582, 145072, 145354, 145397, 145730, 146209, 146659. This link is valid until 3/7/2017.

Under Contract/Pending (10)MLS#s 123936, 142401, 136612, 142846, 143224, 144754, 146813, 147156, 147215, 147220. This link is valid until 3/7/2017.

Aspen Snowmass Solds Last Week:  


MLS #130921 - Moore, McLain Flats, 455 Sunnyside Lane, Aspen, CO. Sold Price: $24,406,000/$1,741 sq ft. More details below photos.
Aspen real estate 020517 130921 455 Sunnyside Lane 1 590W  Aspen real estate 020517 130921 455 Sunnyside Lane 2 590W  Aspen real estate 020517 130921 455 Sunnyside Lane 3 190H Aspen real estate 020517 130921 455 Sunnyside Lane 4 190H  Aspen real estate 020517 130921 455 Sunnyside Lane 5 190H Aspen real estate 020517 130921 455 Sunnyside Lane 6 190H
MLS #130921 - Moore, McLain Flats, 455 Sunnyside Lane, Aspen, CO. Sold Price: $24,406,000/$1,741 sq ft. Asking Price: $36,000,000. (Original Price: $36,000,000 and 1,284 days on the market since 07/23/2013.) This is a 2015 built, 8 bedroom/8 bath/3 half-bath, 14,017 sq ft single family residence with 3 car garage on a 4.9 acres lot. Broker comments are "Introducing Sunnyside Ridge. The final Aspen Lakes home is now completed in Bowden Development's exclusive McLain Flats neighborhood. Fully furnished and move-in ready. On 5 acres, the property boasts year round water, all day sun and valley wide views. The home comprises 14,000 square feet offering 8 bedrooms, 11 baths, grand entertaining rooms, and intimate family spaces. Extras include theater, indoor pool/spa, outdoor pool/spa, full outdoor kitchen, cabana spaces, all wrapped in the new ''mountain modern'' style." 2014 taxes: $10,906. Under Contract Date: 11/28/2016; Sold Date: 02/01/2017. (Photos and broker comments courtesy of Bowden Properties)
 
MLS #142426 - Townsite of Aspen, West End, 720 W Smuggler Street, Aspen, CO. Sold Price: $6,600,000/$1,341 sq ft; furnished. More details below photos.
Aspen real estate 020517 142426 720 W Smuggler Street 1 590W  Aspen real estate 020517 142426 720 W Smuggler Street 2 590W  Aspen real estate 020517 142426 720 W Smuggler Street 3 190H Aspen real estate 020517 142426 720 W Smuggler Street 4 190H
MLS #142426 - Townsite of Aspen, West End, 720 W Smuggler Street, Aspen, CO. Sold Price: $6,600,000/$1,341 sq ft; furnished. Asking Price: $6,995,000. (Original Price: $7,995,000 and 358 days on the market since 01/11/2016.) This is a 2001 built, 5 bedroom/5 bath/1 half-bath, 4,920 sq ft single family residence with 2 car garage on a 6,000 sq ft lot. Broker comments are "A timeless designed, well priced home in Aspen's coveted West End, with recent price reduction only $1421 per sqft. Located on the North side of the street with Aspen Mountain views and southern exposure. Home features a two car, oversized, garage accessed from the rear alley, two patios, outdoor hot tub/spa, elevator, master on entry level, office (could be en-suite fifth bedroom), temperature and humidity controlled 350 bottle wine room and new audio/visual system. Finishes include; marble and granite counter tops, knotty alder cabinetry, oak floors - a handsome home for the discerning buyer." 2015 taxes: $18,344. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 10/01/2016; Sold Date: 01/31/2017. (Photos and broker comments courtesy of Compass)
 
MLS #144582 - Starwood Subd. Vacant Lot, McLain Flats, Tbd Carroll Drive, Aspen, CO. Sold Price: $2,050,000. More details below photos.
Aspen real estate 020517 144582 Tbd Carroll Drive 1 590W  Aspen real estate 020517 144582 Tbd Carroll Drive 2 190H Aspen real estate 020517 144582 Tbd Carroll Drive 3 190H
MLS #144582 - Starwood Subd. Vacant Lot, McLain Flats, Tbd Carroll Drive, Aspen, CO. Sold Price: $2,050,000. Asking Price: $2,750,000. (Original Price: $2,750,000 and 219 days on the market since 05/31/2016.) This is a 4.05 acres single family vacant lot. Broker comments are "Beautiful building site in the exclusive Starwood gated community. Encompassing over 4 total acres, with a 1.4 acre activity envelope, this wooded site borders its own nearly 3 acre pasture tract insuring view protection and privacy. Portion of pasture tract may be reserved for easement." 2016 taxes: $26,748; HOA Dues: $362 per Yr. Under Contract Date: 01/17/2017; Sold Date: 01/31/2017. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
 
MLS #146209 - Eastwood Subd Vacant Lot, East Aspen, 310 Eastwood Drive, Aspen, CO. Sold Price: $1,635,000. More details below photos.
Aspen real estate 020517 146209 310 Eastwood Drive 1 590W  Aspen real estate 020517 146209 310 Eastwood Drive 2 590W  Aspen real estate 020517 146209 310 Eastwood Drive 3 190H Aspen real estate 020517 146209 310 Eastwood Drive 4 190H
MLS #146209 - Eastwood Sound. Vacant Lot, East Aspen, 310 Eastwood Drive, Aspen, CO. Sold Price: $1,635,000. Asking Price: $1,795,000. (Original Price: $1,795,000 and 621 days on the market since 06/27/2015.) This is a 15,142 sq ft single family vacant lot with constrained - or tight- access. Broker comments are "Fantastic Single family lot that you have been waiting for. Secluded in the woods, yet only a short walk to the core. The driveway installation is complete and all the power lines have been buried. Private access with wonderful views of Aspen Mountain and overlooking town. Renderings attached. Great development opportunity. FAR is 3185." 2015 taxes: $13,642. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/09/2017; Sold Date: 01/31/2017. (Photos and broker comments courtesy of Compass)
 
MLS #145072 - Hy-West, Central Core, 835 E Hyman Avenue E, Aspen, CO. Sold Price: $1,304,000/$1,365 sq ft; furnished. More details below photos.
Aspen real estate 020517 145072 835 E Hyman Avenue E 1 590W  Aspen real estate 020517 145072 835 E Hyman Avenue E 2 590W  Aspen real estate 020517 145072 835 E Hyman Avenue E 3 190H Aspen real estate 020517 145072 835 E Hyman Avenue E 4 190H  Aspen real estate 020517 145072 835 E Hyman Avenue E 5 190H Aspen real estate 020517 145072 835 E Hyman Avenue E 6 190H
MLS #145072 - Hy-West, Central Core, 835 E Hyman Avenue E, Aspen, CO. Sold Price: $1,304,000/$1,365 sq ft; furnished. Asking Price: $1,299,000. (Original Price: $1,299,000 and 372 days on the market since 01/21/2016.) This is a 1969 built and 2015 remodeled, 2 bedroom/2 bath, 955 sq ft condo. Broker comments are "Walk to everything from this ideally-located condominium. Only 3 blocks from the gondola, but on a quiet residential street. This light and bright 2BR is a second floor corner unit with eastern and northern exposures. Enjoy views of Smuggler and Red Mountains from the spacious deck.Great for a local owner or use as a rental property. Pets allowed! Recently remodeled, contemporary finishes, gourmet kitchen, in-unit washer and dryer. Great storage space - one ski closet on ground level, plus two secure storage closets. One assigned off-street parking space." 2016 taxes: $2,663; HOA Dues: $1,489 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 12/22/2016; Sold Date: 01/31/2017. (Photos and broker comments courtesy of Douglas Elliman Real Estate-Hyman Ave)
 
MLS #145397 - Smuggler Mobile Park, Smuggler, 228 Cottonwood Lane, Aspen, CO. Sold Price: $630,000/$735 sq ft. More details below photos.
Aspen real estate 020517 145397 228 Cottonwood Lane 1 590W  Aspen real estate 020517 145397 228 Cottonwood Lane 2 590W  Aspen real estate 020517 145397 228 Cottonwood Lane 3 190H Aspen real estate 020517 145397 228 Cottonwood Lane 4 190H  Aspen real estate 020517 145397 228 Cottonwood Lane 5 190H Aspen real estate 020517 145397 228 Cottonwood Lane 6 190H
MLS #145397 - Smuggler Mobile Park, Smuggler, 228 Cottonwood Lane, Aspen, CO. Sold Price: $630,000/$735 sq ft. Asking Price: $699,000. (Original Price: $699,000 and 185 days on the market since 07/29/2016.) This is a 1968 built, 2 bedroom/1 bath, 856 sq ft mobile home/modular on a 2,779 sq ft lot. Broker comments are "Situated perfectly in Smuggler Park - Enjoy long summer evenings and Aspen Mountain views from your back yard. This two-bedroom home sits on a desirable corner lot. Gas stove in the kitchen, wonderful light in the sitting room, you won't be disappointed! Call the office of Coldwell Banker Mason Morse Aspen to set up showings. 87 Resident Occupied homes exist in Smuggler Park Subdivision. The owner must initially offer the property to persons actually employed within the City of Aspen or Pitkin County. If, after a four-month period from the date the property is first listed for sale, there are no buyers who are employed within the City of Aspen or Pitkin County, the property may be offered for sale to any resident of Pitkin County. The purchaser must agree as a condition of the sale that they will personally occupy the property as their primary residence. The occupancy of purchaser must be approved by APCHA and the Smuggler Homeowners' Association." 2015 taxes: $1,259; HOA Dues: $323 per Month. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 12/01/2016; Sold Date: 01/30/2017. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Carbondale)
 
MLS #146659 - Aspen Village, Woody Creek, 14 Aspen Village, Aspen, CO. Sold Price: $270,000/$251 sq ft; unfurnished. More details below photos.
Aspen real estate 020517 146659 14 Aspen Village 1 590W  Aspen real estate 020517 146659 14 Aspen Village 2 590W  Aspen real estate 020517 146659 14 Aspen Village 3 190H Aspen real estate 020517 146659 14 Aspen Village 4 190H  Aspen real estate 020517 146659 14 Aspen Village 5 190H Aspen real estate 020517 146659 14 Aspen Village 6 190H
MLS #146659 - Aspen Village, Woody Creek, 14 Aspen Village, Aspen, CO. Sold Price: $270,000/$251 sq ft; unfurnished. Asking Price: $275,000. (Original Price: $275,000 and 895 days on the market since 05/09/2014.) This is a 1965 built and 2016 remodeled, 2 bedroom/1 bath/1 half-bath, 1,072 sq ft single family residence on a 4,288 sq ft lot. Broker comments are "Almost totally remodeled in 2016. Desirable location close to Aspen. Open concept floor plan. Affordable 2 bedroom, 1 1/2 bathroom, 12x60, 1965 single wide mobile home plus +/- 10'x33' addition with family room & an office that could be a 3rd bedroom if a closet were added on a 4,288 sq.ft. lot. Community pool & gym. No HOA dues. In the Aspen School District & close to RFTA bus stop. Aspen Pitkin County Housing Authority(APCHA)has Deed Restricted Aspen Village to Resident Occupied(RO)-Owner occupied only. Buyer must work a minimum of 1500 hrs./yr. in the valley. There is no sale price restriction. No dogs allowed. Go to www.aspenvillage.info for the most updated Covenants and Declarations. Property is Under Contract for sale but taking back up offers." 2016 taxes: $2,591. Under Contract Date: 12/19/2016; Sold Date: 02/03/2017. (Photos and broker comments courtesy of Janet Mitchell & Co)
 
MLS #143749 - Shield O Terrac, 727 Shield O Road, Snowmass, CO. Sold Price: $750,000/$237 sq ft; unfurnished. More details below photos.
Aspen real estate 020517 143749 727 Shield O Road 1 590W  Aspen real estate 020517 143749 727 Shield O Road 2 590W  Aspen real estate 020517 143749 727 Shield O Road 3 190H Aspen real estate 020517 143749 727 Shield O Road 4 190H  Aspen real estate 020517 143749 727 Shield O Road 5 190H Aspen real estate 020517 143749 727 Shield O Road 6 190H
MLS #143749 - Shield O Terrac, 727 Shield O Road, Snowmass, CO. Sold Price: $750,000/$237 sq ft; unfurnished. Asking Price: $859,500. (Original Price: $889,000 and 280 days on the market since 04/28/2016.) This is a 1981 built and 2011 remodeled, 4 bedroom/4 bath, 3,159 sq ft single family residence with 2 car garage on 2.39 acres lot. Broker comments are "Charming 3,159 square foot log home with amazing unobstructed views of Snowmass Mountain. Located on Shield O Road in Old Snowmass, just a few miles from the Campground section of Snowmass Ski Area. Beautifully landscaped, 2 + acres with views, fenced garden, pergola and plenty of decks. The home has 4 bedrooms and 4 baths with a non-conforming apartment. Nicely done interiors with log construction, maple hardwood floors, stainless steel appliances, granite slab kitchen countertops and backsplash and a floor to ceiling custom red rock wood-burning fireplace." 2016 taxes: $3,687; HOA Dues: $1,000 per Yr(NO). Under Contract Date: 12/22/2016; Sold Date: 02/02/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Snowmass Village)
 
MLS #145208 - Lazy Glen Mobile Park,  69 Lazy Glen Lot: 69, Snowmass, CO. Sold Price: $350,000/$194 sq ft; unfurnished. More details below photos.
Aspen real estate 020517 145208 69 Lazy Glen Lot 69 1 590W  Aspen real estate 020517 145208 69 Lazy Glen Lot 69 2 590W  Aspen real estate 020517 145208 69 Lazy Glen Lot 69 3 190H Aspen real estate 020517 145208 69 Lazy Glen Lot 69 4 190H  Aspen real estate 020517 145208 69 Lazy Glen Lot 69 5 190H Aspen real estate 020517 145208 69 Lazy Glen Lot 69 6 190H
MLS #145208 - Lazy Glen Mobile Park,  69 Lazy Glen Lot: 69, Snowmass, CO. Sold Price: $350,000/$194 sq ft; unfurnished. Asking Price: $350,000. (Original Price: $395,000 and 139 days on the market since 07/18/2016.) This is a 2004 built, 3 bedroom/3 bath, 1,800 sq ft single family residence on 5,666 sq ft lot. Broker comments are "Live large only 20 minutes to Aspen. 1800 sq. feet with 3 bedrooms and 3 bathrooms. This home is in excellent condition on a quiet cul de sac. Plenty of parking. Large yard. Moments away from bus stop up and down valley. Dogs allowed. Storage sheds. Deed restricted to Resident Occupied. No sale price restriction." 2016 taxes: $1,890; HOA Dues: $150 per Month. Under Contract Date: 12/11/2016; Sold Date: 01/27/2017. (Photos and broker comments courtesy of Tim Harris Real Estate)
 
MLS #145354 - Two Creeks, 1170 Two Creeks Drive, Snowmass Village, CO: Sold Price: $7,650,000/$1,405 sq ft; furnished. More details below photos.
Aspen real estate 020517 145354 1170 Two Creeks Drive 1 590W  Aspen real estate 020517 145354 1170 Two Creeks Drive 2 190H Aspen real estate 020517 145354 1170 Two Creeks Drive 3 190H  Aspen real estate 020517 145354 1170 Two Creeks Drive 4 190H Aspen real estate 020517 145354 1170 Two Creeks Drive 5 190H
MLS #145354 - Two Creeks, 1170 Two Creeks Drive, Snowmass Village, CO: Sold Price: $7,650,000/$1,405 sq ft; furnished. Asking Price: $8,500,000. (Original Price: $8,500,000 and 2,615 days on the market since 06/09/2009.) This is a 2000 built, 5 bedroom/5 bath/2 half-bath, 5,442 sq ft single family residence with 2 car garage on a 1.61 acres lot. Broker comments are "Enjoy ski-in/ski-out access from this beautiful Two Creeks Estate. This George Draper custom home features a dramatic Great Room, Gourmet Kitchen and Dining Room, Movie/Rec Room, Den/Office, Generous Porch, Patio and Outdoor Hot Tub Slopeside! 8 Fireplaces with Amazing Views, and Much, Much, More! A Must See! Fully furnished and accessorized, move-in ready!" 2016 Taxes: $26,209; HOA Dues: $1,125 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 12/30/2016; Sold Date: 01/30/2017. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
 
MLS #145730 - Timberline, 690 Carriage Way A-3e, Snowmass Village, CO: Sold Price: $755,000/$614 sq ft; furnished. More details below photos.
Aspen real estate 020517 145730 690 Carriage Way A 3e 1 590W  Aspen real estate 020517 145730 690 Carriage Way A 3e 2 590W  Aspen real estate 020517 145730 690 Carriage Way A 3e 3 190H Aspen real estate 020517 145730 690 Carriage Way A 3e 4 190H  Aspen real estate 020517 145730 690 Carriage Way A 3e 5 190H Aspen real estate 020517 145730 690 Carriage Way A 3e 6 190H
MLS #145730 - Timberline, 690 Carriage Way A-3e, Snowmass Village, CO: Sold Price: $755,000/$614 sq ft; furnished. Asking Price: $795,000. (Original Price: $795,000 and 169 days on the market since 08/18/2016.) This is a 1972 built, 3 bedroom/2 bath, 1,228 sq ft condo. Broker comments are "When a two bedroom is just not enough and a 3 bedroom is more than you want to invest, look no further than this 2 bedroom plus loft at the Timberline. Top-floor, corner location with it's own separate staircase. Enjoy the pluses of being on the top floor, no one above you, cathedral ceilings and instead of having to climb 3 flights of stairs to get to your property, you only have 1. Faces South, so nice natural light. Incredible ski access, 15 minute parking right outside for easy transport of groceries and luggage. The Timberline amenities include heated pool directly on Fanny Hill, hot tubs, work out room, shuttle service and an onsite restaurant and bar." 2016 Taxes: $2,923; HOA Dues: $1,101 per Month. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 12/15/2016; Sold Date: 02/03/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Snowmass Village)
 
 

Recent Estin Report tweets on Aspen Real Estate

EstinAspen Feb 12 - 19, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (6) + Under Contract (11) https://t.co/LWU2jMWVYR
EstinAspen NEW! #EstinReport Historic Pace of Sales Charts by Quarter for #AspenHomes, #AspenCondos & Lots in #AspenRealEstate https://t.co/qBqWgHc0VP
EstinAspen January 2017 #EstinReport Just Released #AspenRealEstate Market Snapshot: https://t.co/6zV9Mx95YH
EstinAspen Feb 5 - 12, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (5) + Under Contract (16) https://t.co/TCqfzE7mYk
EstinAspen Jan 22 - 29, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (4) + Under Contract (11) https://t.co/evcTYOvjlt
EstinAspen Jan 15 - 22, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (5) + Under Contract (10) https://t.co/pRxb7V5Nfd
EstinAspen Jan 8 -15, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (12) + Under Contract (8) https://t.co/HvqQYCTiui
EstinAspen Jan 1 - 8, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (5) + Under Contract (10) https://t.co/Pz76BjG1po

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 emailThe 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."

____________________________________________________________________________________

Jan 22 - 29, 2017 Estin Report: Last Week's Aspen Snowmass Real Estate Sales & Stats: Closed (4) + Under Contract / Pending (11)


The Dec 2016 YTD Snapshot has been posted  in Current Reports. The Monthly Snapshots are usually posted on or near the 1st Monday of the month. My Q4 and Year 2016 report will be released soon.

Below is a new chart I'm working on: the historic pace of sales since 2006 with a trend line (to be added). Additional charts are: pace of sales by property types: all property types combined separately for Aspen and SMV; by area and property types - Aspen and Snowmass single family homes, condos. and vacant land. (Fractionals are not included.)
Unit sales are the true measure of market activity - as the sales drop-off in the 2nd Half 2007 so presaged the coming recession, sales velocity or pace is useful to consider. 

An Aspen Times article in August  2016,  "Aspen real estate: Was 2015 that good or is 2016 that bad?", suggested that it was misguided to compare 2016 to a record year like 2015. This chart, and many other Estin Report Monthly Snapshots posted during 2016, demonstrate that thinking wrong. 2016 was a very bad Aspen real estate year, especially the 1st Half, the worst since 2010. Most notably, Aspen single family home sales for the year were off 50-60% and sales of properties over $10M were down a stunning 65%. Everyone including me,  blamed the election and the attendant uncertainty. Few suggested the lack of sales may have been due to speculative and unrealistic pricing turning buyers off and away. As we head into 2017, we shall see.  Since the election, sales activity has been picking up as the charts indicate.

To enlarge, click on either chart.

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

 

 011817 Estin Report Historic Aspen real estate pace of sales since 2006 96res590w

 

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

Nov 2016 Market Snapshot excerpt:

"Nov '16 has been less 'bad' than Oct or Sep. The uncertainty of the election has passed, the "Trump Trade" has pushed the stock market to record highs and the financial markets are bullish. Historically, these are good omens for Aspen real estate.

For the past two years, the Aspen residential market is being driven by speculative activity in the form of a small handful of REIT type investment groups. In particular, these groups dominated buyer activity in 2015 and new-built home listings in 2016. There are approximately 20-25 brand new spec homes in various stages of construction with some having sold or are under contract validating never-seen-before new pricing levels in specifically the Aspen Core, Historic West End and newer homes on Red Mountain.."

The Estin Report: 2nd Quarter and 1st Half 2016 State of the Aspen Real Estate Market with narrative, charts, tables photos was posted in Current Reports as PDF (v6.6) on July 20th. The print edition is available at kiosks around town, at Sothebys/415 E. Hyman Mall, Sothebys/300 S. Spring St and at the airport. 

072016 Q2 H1 2015 Estin Report State of the Aspen Market cover final 96Res 350wX457Click cover above for Exec. Summary and full 28-Pg Report PDF

See recent Before/After redevelopment 'flip job' examples in Miscellaneous Info Section at 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 (12/28/16) as additional re-sale properties come on the market at significantly higher prices.

___________

Market Activity Week 4, January 22 - 29, 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 (4):  MLS#s 141311, 146796, 146586, 141642. This link is valid until 2/28/2017.

Under Contract/Pending (11)MLS#s 141923, 138918, 138919, 137490, 144890, 145717, 146016, 146065, 146627, 147125, 147327. This link is valid until 2/28/2017.

Aspen Snowmass Solds Last Week:  


MLS #141311 - East Aspen, 302 Park Avenue, Aspen, CO. Sold Price: $6,140,000/$1,208 sq ft; furnished. More details below photos.
Aspen real estate 012917 141311 302 Park Avenue 1 590W  Aspen real estate 012917 141311 302 Park Avenue 2 190H Aspen real estate 012917 141311 302 Park Avenue 3 190H  Aspen real estate 012917 141311 302 Park Avenue 5 190H Aspen real estate 012917 141311 302 Park Avenue 5 190H
MLS #141311 - East Aspen, 302 Park Avenue, Aspen, CO. Sold Price: $6,140,000/$1,208 sq ft; furnished. Asking Price: $6,595,000. (Original Price: $6,995,000 and 470 days on the market since 10/12/2015.) This is a 2003 built, 6 bedroom/6 bath/1 half-bath, 5,082 sq ft single family residence with 3 car garage on a 5,275 sq ft lot. Broker comments are "Just a few blocks from the center of town, over the Roaring Fork River, is one of the most tasteful homes in Aspen. With an attention to quality finishes, this Provencal-style, six bedroom home has a great floor plan featuring the living room, dining room and kitchen on the entry level with access to multiple outdoor stone terraces with a hot tub and grill, to the private master suite with dramatic views of Aspen Mountain. A large family/media/billiard room is located on the same level as the four guest suites. An oversized garage is perfect for storing all that you need for your mountain lifestyle." 2015 taxes: $14,791. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 12/26/2016; Sold Date: 01/24/2017. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
 
MLS #146796 - Riverside, East Aspen, 1395 Riverside Drive, Aspen, CO. Sold Price: $4,485,000/$1,045 sq ft; partial-furnished. More details below photos.
Aspen real estate 012917 146796 1395 Riverside Drive 1 590W  Aspen real estate 012917 146796 1395 Riverside Drive 2 590W  Aspen real estate 012917 146796 1395 Riverside Drive 3 190H Aspen real estate 012917 146796 1395 Riverside Drive 4 190H  Aspen real estate 012917 146796 1395 Riverside Drive 5 190H Aspen real estate 012917 146796 1395 Riverside Drive 6 190H
MLS #146796 - Riverside, East Aspen, 1395 Riverside Drive, Aspen, CO. Sold Price: $4,485,000/$1,045 sq ft; partial-furnished. Asking Price: $4,349,000. (Original Price: $4,349,000 and 242 days on the market since 06/06/2016.) This is a 1999 built, 4 bedroom/4 bath/1 half-bath, 4,291 sq ft 1/2 duplex-townhouse with 2 car garage. Broker comments are "Modern Living for Today's Lifestyle!!! Situated on Riverside Drive just a 5 minute walk to the Aspen Core, this home has been perfectly curated to be the epitome of today's mountain living. It showcases all that the Aspen lifestyle has to offer. Dramatic cathedral ceilings, an abundance of light and modern upgrades provide the amenities that today's buyers seek to find. Surrounded by mature trees and landscaping with lovely Aspen Mountain views. This 4 bedrooms, 4 1/2 bath home provides 3 levels suitable for lavish entertaining or comfortable family living. The large separate family room, 2 car garage mud room and 2 decks are certainly a plus." 2016 taxes: $9,554. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 12/30/2016; Sold Date: 01/18/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Hyman Mall)
 
MLS #146586 - Snowmass Creek, 0876 Snowmass Creek Road North Parcel-Lot 1, Snowmass, CO. Sold Price: $880,000/$189 sq ft; unfurnished. More details below photos.
Aspen real estate 012917 146586 0876 Snowmass Creek Road North Parcel Lot 1 1 590W  Aspen real estate 012917 146586 0876 Snowmass Creek Road North Parcel Lot 1 2 590W  Aspen real estate 012917 146586 0876 Snowmass Creek Road North Parcel Lot 1 3 190H Aspen real estate 012917 146586 0876 Snowmass Creek Road North Parcel Lot 1 4 190H  Aspen real estate 012917 146586 0876 Snowmass Creek Road North Parcel Lot 1 5 190H Aspen real estate 012917 146586 0876 Snowmass Creek Road North Parcel Lot 1 6 190H
MLS #146586 - Snowmass Creek, 0876 Snowmass Creek Road North Parcel-Lot 1, Snowmass, CO. Sold Price: $880,000/$189 sq ft; unfurnished. Asking Price: $895,000. (Original Price: $895,000 and 672 days on the market since 03/24/2015.) This is a 1981 built and 2010 remodeled, 8 bedroom/6 bath, 4,644 sq ft single family residence with 2 car garage on 18.5 acres lot. Broker comments are "If you are looking for a property that feels like you are in the country yet you have the convenience of being minutes from the needed amenities for your lifestyle, then you must see the possibilities of the these lots. Each lot has 18.5 acres a shared well with 14.5 shares of water rights. Boasting of a 8 bedroom/5 bathroom residence (formerly RMI's Cliff House - employee housing). Excellent opportunity for employee housing or Build your own dream home with approvals in place for 2 -single family homes with 5750 sf. You can keep the properties as one. Amazing views of the Snowmass Valley yet the location is less than 3/4 mile to Highway 82. Every amenity & need only minutes" 2015 taxes: $7,407. Under Contract Date: 11/01/2016; Sold Date: 01/24/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Basalt)
 
MLS #141642 - Seasons 4 Condos, 35 Lower Woodbridge Road Seasons Four #114, Snowmass Village, CO: Sold Price: $500,000/$402 sq ft; furnished. More details below photos.
Aspen real estate 012917 141642 35 Lower Woodbridge Road Seasons Four 114 1 590W  Aspen real estate 012917 141642 35 Lower Woodbridge Road Seasons Four 114 2 590W  Aspen real estate 012917 141642 35 Lower Woodbridge Road Seasons Four 114 3 190H Aspen real estate 012917 141642 35 Lower Woodbridge Road Seasons Four 114 4 190H  Aspen real estate 012917 141642 35 Lower Woodbridge Road Seasons Four 114 5 190H Aspen real estate 012917 141642 35 Lower Woodbridge Road Seasons Four 114 6 190H
MLS #141642 - Seasons 4 Condos, 35 Lower Woodbridge Road Seasons Four #114, Snowmass Village, CO: Sold Price: $500,000/$402 sq ft; furnished. Asking Price: $525,000. (Original Price: $555,000 and 430 days on the market since 11/12/2015.) This is a 1971 built, 2 bedroom/1 loft/3 bath, 1,241 sq ft condo. Broker comments are "READY TO MOVE IN Light and bright this spacious top floor 2 bedroom with loft,3 bath condominium with vaulted ceilings is the perfect retreat for a second homeowner/rental or resident Aspen School District homeowner. Conveniently located on the Village paved bike paths and the free Village Shuttle. The Season’s Four amenities include onsite property management and a clubhouse with adjacent gated pool and hot tub/spa to be enjoyed any time of year. The wood burning fireplace creates a cozy warm and inviting ambiance during the ski season that opens up to a private balcony overlooking Brush Creek in the summer months. The homeowner’s association has recently completed improvements to the exterior, roof, pool area and condominium has new windows and glass sliders while continuing to keep the homeowner's association dues low. The second floor washer/dryer and designated parking space enhances the easy living in this delightful Season's Four." 2016 Taxes: $1,689; HOA Dues: $1,875 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 12/12/2016; Sold Date: 01/23/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Snowmass Village)
 
 

Recent Estin Report tweets on Aspen Real Estate

EstinAspen Feb 12 - 19, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (6) + Under Contract (11) https://t.co/LWU2jMWVYR
EstinAspen NEW! #EstinReport Historic Pace of Sales Charts by Quarter for #AspenHomes, #AspenCondos & Lots in #AspenRealEstate https://t.co/qBqWgHc0VP
EstinAspen January 2017 #EstinReport Just Released #AspenRealEstate Market Snapshot: https://t.co/6zV9Mx95YH
EstinAspen Feb 5 - 12, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (5) + Under Contract (16) https://t.co/TCqfzE7mYk
EstinAspen Jan 22 - 29, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (4) + Under Contract (11) https://t.co/evcTYOvjlt
EstinAspen Jan 15 - 22, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (5) + Under Contract (10) https://t.co/pRxb7V5Nfd
EstinAspen Jan 8 -15, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (12) + Under Contract (8) https://t.co/HvqQYCTiui
EstinAspen Jan 1 - 8, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (5) + Under Contract (10) https://t.co/Pz76BjG1po

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 emailThe 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."

____________________________________________________________________________________

 

 

Tim Estin | www.EstinAspen.com | 970.309.6163 | 300 S.Spring St | Opposite the Aspen Art Museum

More blog entries by year:

Powered by mod LCA
The Estin Report - Aspen, Colorado
The Estin Report - Aspen, Colorado

Sotheyby's International Realty

Global Difference

The Estin Report - Aspen, Colorado
The Estin Report - Aspen, Colorado The Estin Report - Aspen, Colorado The Estin Report - Aspen, Colorado

© 2006-2017 · Tim Estin · All Rights Reserved | Sitemap | XML Sitemap


View Desktop Version | View Mobile Version