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 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. 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, CO
Mountain Standard Time 
(MST)

 

Feb 2017
Low-Down

Heading into peak
season: Feb-Apr.
Sales activity rising
significantly...
think 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 greater 
opportunities exist.
Two tiered
pricing levels:
1) New-built
contemporary =
> greater demand
> premium prices;
2) Everything else =
 > more days on
market

< less demand 
> more negotiable
> better possible
discounts

> more seller

motivation.

During Recession,
there was little
new construction
creating a 4-5 yr
void in new product.
New product sales

now are raising 
the comparable avgs.
whch masks realtiy
for older home

for sale where

it's tougher.

 

See recent 2/23/17 WSJ
on 
luxury home sales,
"High-end home sellers

across the country are

offering discounts as

luxury market softens...

Buyers are very price

sensitive...If it’s not

priced right it’s going to
sit until the cows come
home...expensive

trophy estates have

generally become

challenging to sell

to today’s ...millennial

buyers....these behemoth

trophy properties… have

become very hard to sell

to the people who can

afford them.”

 

 

(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

March 12 - 19, 2017 Estin Report: Last Week's Aspen Snowmass Real Estate Sales & Stats: Closed (5) + Under Contract / Pending (27)


The Feb 2017 Aspen Snowmass Real Estate Monthly Market Snapshot was posted in Current Reports this morning, Mar 6th.  The Monthly Snapshots are usually posted on or near the 1st Monday of the month. The Q4 and Year 2016 report will be released soon.


An article appeared in the Denver Post Sunday Feb 26th on Colorado Mountain resort real estate including Aspen and Pitkin County. 

Bottom Line Feb 2017 Excerpt:

"For year-to-date (YTD), Jan 1 through Feb 28, 2017, the total combined Aspen Snowmass Village market is up 19% in dollar sales to $139M from $117M same time last year and no change in unit sales with (43) in 2017 versus (43) last year.

The number of under contract properties for the combined Aspen Snowmass Village market is up 52% to (35) in Feb 2017 versus (23) same time last year.

Under Contracts are used as an indicator of future activity when compared to the prior year."

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

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

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.

___________

Market Activity Week 11, March 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 (5):  MLS#s 145398, 147141, 147396, 147327, 141615. This link is valid until 4/18/2017.

Under Contract/Pending (27)MLS#s 141963, 142373, 126639, 141210, 141581, 139156, 139689, 139690, 139711, 140546, 140780, 144142, 144584, 145050, 145253, 145399, 146449, 146868, 147083, 147474, 147478, 147536, 147727, 147905, 147994, 148013, 148030. This link is valid until 4/18/2017.

Aspen Snowmass Solds Last Week:  


MLS #145398 - Calderwood, Central Core, 1096 Waters Avenue, Aspen, CO. Sold Price: $5,300,000/$2,176 sq ft; half-duplex on the river, furnished. More details below photos.
Aspen real estate 031917 145398 1096 Waters Avenue 1 590W  Aspen real estate 031917 145398 1096 Waters Avenue 2 590W  Aspen real estate 031917 145398 1096 Waters Avenue 3 190H Aspen real estate 031917 145398 1096 Waters Avenue 4 190H  Aspen real estate 031917 145398 1096 Waters Avenue 5 190H Aspen real estate 031917 145398 1096 Waters Avenue 6 190H
MLS #145398 - Calderwood, Central Core, 1096 Waters Avenue, Aspen, CO. Sold Price: $5,300,000/$2,176 sq ft; furnished. Aspen river home for sale. Ask Price: $5,595,000. (Original Price: $6,500,000 and 379 days on the market since 03/02/2016.) This is a 2016 built, 4 bedroom/4 bath/1 half-bath, 2,435 sq ft duplex/half-duplex with 1 car garage on a 6,786 sq ft lot. Broker comments are "The property is located in Aspen’s downtown core with the Roaring Fork River streaming in the backyard and big Aspen Mountain views to the south. Listen to the sounds of the Roaring Fork River and watch trout rise from the private walkout patio of this brand new contemporary Aspen ski home. Located on a quiet cul-de-sac in the heart of downtown Aspen, only four blocks to the Silver Queen Gondola and dining and shopping. The Ute and East Aspen hiking and biking trails are just around the corner. This Aspen home seeks to redefine the mountain contemporary aesthetic by seamlessly blending indoor/outdoor living with approachable, warm contemporary construction layered with organic materials and custom, high end finishes." 2016 taxes: $9,791. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 02/16/2017; Sold Date: 03/16/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Hyman Mall)
 
MLS #147141 - Shadowview, West End, 324 W Hopkins Avenue Unit B, Aspen, CO. Sold Price: $2,650,000/$1,640 sq ft. More details below photos.
Aspen real estate 031917 147141 324 W Hopkins Avenue Unit B 1 590W  Aspen real estate 031917 147141 324 W Hopkins Avenue Unit B 2 590W  Aspen real estate 031917 147141 324 W Hopkins Avenue Unit B 3 190H Aspen real estate 031917 147141 324 W Hopkins Avenue Unit B 4 190H
MLS #147141 - Shadowview, West End, 324 W Hopkins Avenue Unit B, Aspen, CO. Sold Price: $2,650,000/$1,640 sq ft. Aspen condo townhouse for sale. Ask Price: $2,795,000. (Original Price: $2,895,000 and 85 days on the market since 10/25/2016. The property previously sold at $2.75M/$1,702 sq ft on 4/26/16.) This is a 1975 built and 2015 remodeled, 2 bedroom/1 bath/1 3/4-bath/1 half-bath, 1,615 sq ft townhouse. Broker comments are "Truly a rare find  just a few walkable blocks from downtown Aspen. Very private and quiet location on the Hopkins pedestrian/ bikeway provides easy access to town and trails. The beautiful, contemporary finishes compliment bright, and generous living spaces. High ceilings and skylights make this a spacious and cheerful residence. Additional features include 2 master suites with private offices and baths, vaulted ceilings, ample storage, a covered carport, and a private courtyard." 2015 taxes: $4,518; HOA Dues: $1,615 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 02/06/2017; Sold Date: 03/08/2017. (Photos and broker comments courtesy of Aspen Real Estate Company)
 
MLS #147396 - Hunter Creek, Smuggler, 1112 Vine Street 1112, Aspen, CO. Sold Price: $625,000/$1,075 sq ft; unfurnished. More details below photos.
Aspen real estate 031917 147396 1112 Vine Street 1112 1 590W  Aspen real estate 031917 147396 1112 Vine Street 1112 2 590W  Aspen real estate 031917 147396 1112 Vine Street 1112 3 285W Aspen real estate 031917 147396 1112 Vine Street 1112 4 285W
MLS #147396 - Hunter Creek, Smuggler, 1112 Vine Street 1112, Aspen, CO. Sold Price: $625,000/$1,075 sq ft; unfurnished. Aspen condo for sale. Ask Price: $645,000. (Original Price: $645,000 and 45 days on the market since 01/27/2017.) This is a 1980 built and 2017 remodeled, 1 bedroom/1 bath, 581 sq ft condo. Broker comments are "Newly renovated, first floor, one bedroom unit views out towards the pool/hottub and tennis courts. This beautiful unit has an open floor plan with brand new appliances, quartzite countertops, high end finishes. Easy walk to town or take the bus." 2016 taxes: $828; HOA Dues: $271 per Month. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 02/08/2017; Sold Date: 03/13/2017. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
 
MLS #147327 - Snowmass Mountain, 55 Woodbridge Road J-3, Snowmass Village, CO: Sold Price: $515,000/$512 sq ft; furnished. More details below photos.
Aspen real estate 031917 147327 55 Woodbridge Road J 3 1 590W  Aspen real estate 031917 147327 55 Woodbridge Road J 3 2 590W  Aspen real estate 031917 147327 55 Woodbridge Road J 3 3 190H Aspen real estate 031917 147327 55 Woodbridge Road J 3 4 190H  Aspen real estate 031917 147327 55 Woodbridge Road J 3 5 190H Aspen real estate 031917 147327 55 Woodbridge Road J 3 6 190H
MLS #147327 - Snowmass Mountain, 55 Woodbridge Road J-3, Snowmass Village, CO: Sold Price: $515,000/$512 sq ft; furnished. Aspen condo for sale. Ask Price: $515,000. (Original Price: $515,000 and 421 days on the market since 12/23/2015.) This is a 1973 built, 2 bedroom/2 bath, 1,005 sq ft condo. Broker comments are "This beautiful 2 bedroom, 2 bath condo is turn-key with unobstructed views looking across Snowmass towards the Continental Divide. A perfectly situated end unit, with extra windows maximize the surrounding views, with comfortable finishes throughout. BBQ year round on the patio over-looking the nature trail, this south facing unit enjoys an in-unit washer/dryer, upgraded fireplace, and perfectly situated living spaces. Low HOA dues with easy access to the Snowmass Village Shuttle, & Private Parking. Amenities include a heated pool, outdoor hot tub, fitness center, sauna, locker rooms, and a Party/meeting room." 2016 Taxes: $1,786; HOA Dues: $2,176 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 01/26/2017; Sold Date: 03/17/2017. (Photos and broker comments courtesy of Alpine Real Estate, Inc)
 
MLS #141615 - Crestwood, 400 Wood Road #3108, Snowmass Village, CO: Sold Price: $380,000/$422 sq ft; furnished. More details below photos.
Aspen real estate 031917 141615 400 Wood Road 3108 1 590W  Aspen real estate 031917 141615 400 Wood Road 3108 2 190H Aspen real estate 031917 141615 400 Wood Road 3108 3 190H  Aspen real estate 031917 141615 400 Wood Road 3108 4 190H Aspen real estate 031917 141615 400 Wood Road 3108 5 190H
MLS #141615 - Crestwood, 400 Wood Road #3108, Snowmass Village, CO: Sold Price: $380,000/$422 sq ft; furnished. Aspen condo for sale. Ask Price: $389,500. (Original Price: $459,000 and 780 days on the market since 11/21/2014.) This is a 1970 built and 2010 remodeled, 2 bedroom/2 bath, 900 sq ft condo. Broker comments are "ROCK BOTTOM PRICE on this Wonderful 2 bedroom/2 bath ski-in/ski-out condo on the slopes next to The Elk Camp Gondola and just a short walk to The Treehouse Kid's Adventure Center! Walk to the slopes, swim in the year-round heated pool, work-out in the fitness center, and soak in the 3 hot tubs, steam-rooms or sauna. Offered turn-key and fully furnished, just bring your skis, your friends or family and enjoy! HURRY - THIS WON'T LAST LONG AT THE NEW PRICE-BEST VALUE IN SNOWMASS VILLAGE!" 2014 Taxes: $2,264; HOA Dues: $19,459 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 02/25/2017; Sold Date: 03/13/2017. (Photos and broker comments courtesy of McKinley Sales)
 
 

Recent Estin Report tweets on Aspen Real Estate

EstinAspen Mar 12 - 19, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (5) + Under Contract (27) https://t.co/lWyx0P4xuO
EstinAspen Mar 5 - 12, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (7) + Under Contract (15) https://t.co/5TEYy2PeZG
EstinAspen Feb 26 - Mar 5, 17 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (5) + Under Contract (5) https://t.co/uxoY2PQdmk
EstinAspen #AspenRealEstate and others Down in 2016 as Colorado #MountainLuxuryRealEstate Sales Decline https://t.co/ilZ7NJ4htu
EstinAspen Feb 19 - 26, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (6) + Under Contract (14) https://t.co/nAiOLqoBCn
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

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."

____________________________________________________________________________________

March 5 - 12, 2017 Estin Report: Last Week's Aspen Snowmass Real Estate Sales & Stats: Closed (7) + Under Contract / Pending (15)


The Feb 2017 Aspen Snowmass Real Estate Monthly Market Snapshot was posted in Current Reports this morning, Mar 6th.  The Monthly Snapshots are usually posted on or near the 1st Monday of the month. The Q4 and Year 2016 report will be released soon.


An article appeared in the Denver Post Sunday Feb 26th on Colorado Mountain resort real estate including Aspen and Pitkin County. 

Bottom Line Feb 2017 Excerpt:

"For year-to-date (YTD), Jan 1 through Feb 28, 2017, the total combined Aspen Snowmass Village market is up 19% in dollar sales to $139M from $117M same time last year and no change in unit sales with (43) in 2017 versus (43) last year.

The number of under contract properties for the combined Aspen Snowmass Village market is up 52% to (35) in Feb 2017 versus (23) same time last year.

Under Contracts are used as an indicator of future activity when compared to the prior year."

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

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

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.

___________

Market Activity Week 10, March 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 (7):  MLS#s 145302, 140715, 142691, 144491, 144890, 145188, 147323. This link is valid until 4/11/2017.

Under Contract/Pending (15)MLS#s 137729, 133798, 141196, 143520, 143563, 144130, 144283, 144516, 145357, 145358, 145372, 145756, 146782, 146813, 147757. This link is valid until 4/11/2017.

Aspen Snowmass Solds Last Week:  


MLS #144491 - Fox Crossing, Smuggler, 552 Walnut Street, Aspen, CO. Sold Price: $6,250,000/$1,350 sq ft; furnished. More details below photos.
Aspen real estate 031217 144491 552 Walnut Street 1 590W  Aspen real estate 031217 144491 552 Walnut Street 2 590W  Aspen real estate 031217 144491 552 Walnut Street 3 190H Aspen real estate 031217 144491 552 Walnut Street 4 190H  Aspen real estate 031217 144491 552 Walnut Street 5 190H Aspen real estate 031217 144491 552 Walnut Street 6 190H
MLS #144491 - Fox Crossing, Smuggler, 552 Walnut Street, Aspen, CO. Sold Price: $6,250,000/$1,350 sq ft; furnished. Aspen home for sale Ask Price: $6,845,000. (Original Price: $6,995,000 and 270 days on the market since 06/09/2016.) This is a 2006 built, 5 bedroom/5 bath/2 half-bath, 4,627 sq ft single family residence with 2 car garage on a 6,607 sq ft lot. Broker comments are "Set at the entrance to the Fox Crossing neighborhood of 18 luxury residences lies a classic mountain contemporary home, strategically located within easy walking distance to downtown Aspen and boasting unobstructed views of Aspen Mountain and Shadow Mountain. The upper level living areas with vaulted ceilings and fine finishes of dry stacked stone, expansive ceiling trusses, marble, granite and manufactured wood floors consist of an open great room, large dining area with room for ten and gourmet kitchen - all positioned to take in the views while relaxing and entertaining. In the warmer months, step outside to the covered deck for all day enjoyment. The entry level with large master suite, south-facing patio, and private covered area with water feature and gas fireplace create a welcome oasis enjoyable in any season. The lower level with its warm gathering areas offer options to relax and unwind in front of the large flat screen television, or entertain in the bar and billiards area while watching the big game. The four adjacent guest suites, including a large bunkroom, allow the fun to continue well into the night." 2016 taxes: $10,971; HOA Dues: $1,592 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/12/2017; Sold Date: 03/06/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Hyman Mall)
 
MLS #140715 - Townsite of Aspen, West End, 533 W Hallam Street, Aspen, CO. Sold Price: $4,375,000/$1,941 sq ft; unfurnished. More details below photos.
Aspen real estate 031217 140715 533 W Hallam Street 1 590W  Aspen real estate 031217 140715 533 W Hallam Street 2 590  Aspen real estate 031217 140715 533 W Hallam Street 3 590W Aspen real estate 031217 140715 533 W Hallam Street 4 190H  Aspen real estate 031217 140715 533 W Hallam Street 5 190H Aspen real estate 031217 140715 533 W Hallam Street 6 190H
MLS #140715 - Townsite of Aspen, West End, 533 W Hallam Street, Aspen, CO. Sold Price: $4,375,000/$1,941 sq ft; unfurnished. Aspen home for sale Ask Price: $4,600,000. (Original Price: $4,995,000 and 548 days on the market since 08/20/2015. See Flip Jobs: Before/After Section for this 530 W Hallam property redevelopment.) This is a 1886 built and 1995 remodeled, 4 bedroom/3 bath/1 half-bath, 2,253 sq ft single family residence with 1 car garage on a 6,000 sq ft lot. Broker comments are "In the heart of the West End...533 W. Hallam is an authentic Victorian home built in the 1800's and situated on a 6,000 sq ft corner lot. Its location is perfect: just out of the chaotic downtown core, but still within walking distance. The home can be lived in as-is or remodeled to your taste. With approval from the Historic Preservation Commission, the lot allows for up to 3,740 sq ft above grade + garage and below grade space. A true jewel in Aspen's best neighborhood." 2015 taxes: $8,692. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/18/2017; Sold Date: 03/06/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Hyman Mall)
 
MLS #145302 - Riverside, East Aspen, 490 S Riverside Avenue, Aspen, CO. Sold Price: $2,670,000/$2,436 sq ft; unfurnished. More details below photos.
Aspen real estate 031217 145302 490 S Riverside Avenue 1 590W  Aspen real estate 031217 145302 490 S Riverside Avenue 2 590W  Aspen real estate 031217 145302 490 S Riverside Avenue 3 190H Aspen real estate 031217 145302 490 S Riverside Avenue 4 190H
MLS #145302 - Riverside, East Aspen, 490 S Riverside Avenue, Aspen, CO. Sold Price: $2,670,000/$2,436 sq ft; unfurnished. Aspen home for sale Ask Price: $2,995,000. (Original Price: $2,995,000 and 234 days on the market since 07/18/2016.) This is a 1952 built, 2 bedroom/1 bath, 1,096 sq ft single family residence on a 5,133 sq ft lot. Broker comments are "As acquaintances of Herbert Bayer and Lazo Moholy - Nagy and at the urging of Walter Paepcke, the Richard family acquired this property in the early 50’s. Enjoy straight-on, unobstructed views of Aspen Mountain looking over city owned Anderson Park. You also see Red Mtn , Shadow Mtn, Traynor Ridge and Ute Rock from the property. The view is unique and unlike the cross-valley vistas from Red Mountain. Adjacent to historic Anderson Park and the Roaring Fork River, the property is located on a quiet street away from the fray yet walking distance to the Aspen core. The lot is perfect for a medium sized home in an excellent location with an incredible view." 2016 taxes: $4,311. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/23/2016; Sold Date: 03/09/2017. (Photos and broker comments courtesy of Berkshire Hathaway HomeServices | Aspen Snowmass Properties)
 
MLS #144890 - Ridge, 800 Ridge Road Unit 14, Snowmass Village, CO: Sold Price: $1,411,500/$884 sq ft; furnished. More details below photos.
Aspen real estate 031217 144890 800 Ridge Road Unit 14 1 590W  Aspen real estate 031217 144890 800 Ridge Road Unit 14 2 590W  Aspen real estate 031217 144890 800 Ridge Road Unit 14 3 190H Aspen real estate 031217 144890 800 Ridge Road Unit 14 4 190H  Aspen real estate 031217 144890 800 Ridge Road Unit 14 5 190H Aspen real estate 031217 144890 800 Ridge Road Unit 14 6 190H
MLS #144890 - Ridge Condominiums, 800 Ridge Road Unit 14, Snowmass Village, CO: Sold Price: $1,411,500/$884 sq ft; furnished. Aspen condo for sale Ask Price: $1,575,000. (Original Price: $1,575,000 and 254 days on the market since 06/29/2016.) This is a 1982 built, 3 bedroom/1 den/2 bath, 1,596 sq ft condo. Broker comments are "Enjoy this spectacular top floor, three bedroom plus den condominium with designer furniture, fixtures and finishes. Thoughtfully and beautifully designed to maximize the use of interior space while incorporating the mountain views and setting. The extra windows and vaulted ceilings in this corner location create a light, bright and spacious home for you and your family to enjoy any time of year. The private ski access trail is just steps away from your front door as is the pool and hot tub. After a spectacular day of skiing the Green to Double Black Diamond slopes, come home to a warm fire with views of the surrounding mountains. The Ridge condominiums have an added benefit of assigned covered parking with a large storage closet. Snowmass free local bus service is available." 2016 Taxes: $4,163; HOA Dues: $2,396 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 01/23/2017; Sold Date: 03/10/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Snowmass Village)
 
MLS #142691 - Enclave, 360 Wood Road 303, Snowmass Village, CO: Sold Price: $780,000/$706 sq ft; furnished. More details below photos.
Aspen real estate 031217 142691 360 Wood Road 303 1 590W  Aspen real estate 031217 142691 360 Wood Road 303 2 590W  Aspen real estate 031217 142691 360 Wood Road 303 3 190H Aspen real estate 031217 142691 360 Wood Road 303 4 190H  Aspen real estate 031217 142691 360 Wood Road 303 5 190H Aspen real estate 031217 142691 360 Wood Road 303 6 190H
MLS #142691 - Enclave, 360 Wood Road 303, Snowmass Village, CO: Sold Price: $780,000/$706 sq ft; furnished. Aspen condo for sale Ask Price: $825,000. (Original Price: $825,000 and 384 days on the market since 02/12/2016.) This is a 1977 built, 2 bedroom/2 bath, 1,104 sq ft condo. Broker comments are "Enjoy the beautiful views from this 2 bedroom/2 bath, top floor Enclave property. Located on the sunny side of Assay Hill, this property has incredible ski-in/ski-out access in one of Snowmass' most sought after property, The Enclave." 2016 Taxes: $3,754; HOA Dues: $21,521 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 01/06/2017; Sold Date: 03/02/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Snowmass Village)
 
MLS #147323 - Aspenwood, 600 Carriage Way J-10, Snowmass Village, CO: Sold Price: $273,778/$434 sq ft; furnished. More details below photos.
Aspen real estate 031217 147323 600 Carriage Way J 10 1 590W  Aspen real estate 031217 147323 600 Carriage Way J 10 2 590W  Aspen real estate 031217 147323 600 Carriage Way J 10 3 190H Aspen real estate 031217 147323 600 Carriage Way J 10 4 190H  Aspen real estate 031217 147323 600 Carriage Way J 10 5 190H Aspen real estate 031217 147323 600 Carriage Way J 10 6 190H
MLS #147323 - Aspenwood, 600 Carriage Way J-10, Snowmass Village, CO: Sold Price: $273,778/$434 sq ft; furnished. Aspen condo for sale Ask Price: $297,000. (Original Price: $297,000 and 52 days on the market since 01/13/2017.) This is a 1967 built, 1 loft/1 bath, 630 sq ft condo. Broker comments are "Top-floor-Corner, Studio/Loft, facing east & totally south, location doesn't get any better... You can update the interior, but you can't change this fabulous location! Just steps to the White River National Forest for skiing, biking & hiking! Owner storage, easy and happy..." 2016 Taxes: $941; HOA Dues: $8,576 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 02/07/2017; Sold Date: 03/06/2017. (Photos and broker comments courtesy of Berkshire Hathaway HomeServices | Aspen Snowmass Properties)
 
MLS #145188 - Aspenwood, 600 Carriage Way K-7, Snowmass Village, CO: Sold Price: $265,000/$582 sq ft; furnished. More details below photos.
Aspen real estate 031217 145188 600 Carriage Way K 7 1 590W  Aspen real estate 031217 145188 600 Carriage Way K 7 2 590W  Aspen real estate 031217 145188 600 Carriage Way K 7 3 190H Aspen real estate 031217 145188 600 Carriage Way K 7 4 190H  Aspen real estate 031217 145188 600 Carriage Way K 7 5 285W Aspen real estate 031217 145188 600 Carriage Way K 7 6 285W
MLS #145188 - Aspenwood, 600 Carriage Way K-7, Snowmass Village, CO: Sold Price: $265,000/$582 sq ft; furnished. Aspen condo for sale Ask Price: $299,000. (Original Price: $299,000 and 240 days on the market since 07/11/2016.) This is a 1967 built and 2016 remodeled, 1 bath, 455 sq ft condo. Broker comments are "It doesn’t get better than this! The perfect vacation get-away, or remarkable rental income property, this studio has been completely remodeled with a stunning contemporary palette highlighted with barn wood, natural chiseled stone and well-placed accent lighting. Turn-key and move-in ready. Ski slope just 300 yards from the front door. No need to spend time and extra money; fully stocked kitchen with Whirlpool and Haier appliances, beautifully decorated and furnished to sleep 4 with queen bedroom plus sofa sleeper. Reasonable HOA dues for the inclusions that attract strong rental income: beautiful grounds, exceptional management, complex pool, hot tub, work-out room and laundry area. This is an extraordinary remodel – a breath of fresh air!" 2015 Taxes: $642; HOA Dues: $7,625 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 02/07/2017; Sold Date: 03/08/2017. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-SMV)
 
 

Recent Estin Report tweets on Aspen Real Estate

EstinAspen Mar 12 - 19, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (5) + Under Contract (27) https://t.co/lWyx0P4xuO
EstinAspen Mar 5 - 12, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (7) + Under Contract (15) https://t.co/5TEYy2PeZG
EstinAspen Feb 26 - Mar 5, 17 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (5) + Under Contract (5) https://t.co/uxoY2PQdmk
EstinAspen #AspenRealEstate and others Down in 2016 as Colorado #MountainLuxuryRealEstate Sales Decline https://t.co/ilZ7NJ4htu
EstinAspen Feb 19 - 26, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (6) + Under Contract (14) https://t.co/nAiOLqoBCn
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

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


The Feb 2017 Aspen Snowmass Real Estate Monthly Market Snapshot was posted in Current Reports this morning, Mar 6th.  The Monthly Snapshots are usually posted on or near the 1st Monday of the month. The Q4 and Year 2016 report will be released soon.


An article appeared in the Denver Post Sunday Feb 26th on Colorado Mountain resort real estate including Aspen and Pitkin County. 

Bottom Line Feb 2017 Excerpt:

"For year-to-date (YTD), Jan 1 through Feb 28, 2017, the total combined Aspen Snowmass Village market is up 19% in dollar sales to $139M from $117M same time last year and no change in unit sales with (43) in 2017 versus (43) last year.

The number of under contract properties for the combined Aspen Snowmass Village market is up 52% to (35) in Feb 2017 versus (23) same time last year.

Under Contracts are used as an indicator of future activity when compared to the prior year."

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

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

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.

___________

Market Activity Week 9, February 26 - March 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 (5):  MLS#s 144182, 140993, 147050, 144756, 140161. This link is valid until 4/4/2017.

Under Contract/Pending (5)MLS#s 138870, 141615, 145207, 146533, 147227. This link is valid until 4/4/2017.

Aspen Snowmass Solds Last Week:  


MLS #144182 - Two Creeks Townhome, 408 Burnt Mountain Drive, Snowmass Village, CO: Sold Price: $3,590,000/$987 sq ft; furnished. More details below photos.
Aspen real estate 030517 144182 408 Burnt Mountain Drive 1 590W  Aspen real estate 030517 144182 408 Burnt Mountain Drive 2 590W  Aspen real estate 030517 144182 408 Burnt Mountain Drive 3 190H Aspen real estate 030517 144182 408 Burnt Mountain Drive 4 190H
MLS #144182 - Two Creeks Townhome, 408 Burnt Mountain Drive, Snowmass Village, CO: Sold Price: $3,590,000/$987 sq ft; furnished. Aspen townhouse for sale Ask Price: $3,590,000. (Original Price: $3,590,000 and 450 days on the market since 12/18/2015.) This is a 1997 built, 4 bedroom/4 bath/1 half-bath, 3,634 sq ft townhouse with a 2 car garage on a 3,484 sq ft lot. Broker comments are "This premier Owl Creek Townhome is conveniently located in Snowmass Village with direct ski in /out access from your townhome to the Two Creeks chair lift. With over 3600 square feet, this immaculate and well cared for property features 4 bedrooms, 4 full-baths, media room, gourmet kitchen, spacious bedrooms, vaulted ceilings, floor to ceiling windows in the main living room and views galore. Multiple decks, private hot tub and more." 2016 Taxes: $12,887; HOA Dues: $23,177 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 12/30/2016; Sold Date: 03/01/2017. (Photos and broker comments courtesy of Douglas Elliman Real Estate-Durant)
 
MLS #140993 - Country Club Homes, 700 Snowmass Club Circle 84, Snowmass Village, CO: Sold Price: $1,150,000/$600 sq ft; unfurnished. More details below photos.
Aspen real estate 030517 140993 700 Snowmass Club Circle 84 1 590W  Aspen real estate 030517 140993 700 Snowmass Club Circle 84 2 190H Aspen real estate 030517 140993 700 Snowmass Club Circle 84 3 190H  Aspen real estate 030517 140993 700 Snowmass Club Circle 84 4 190H Aspen real estate 030517 140993 700 Snowmass Club Circle 84 5 190H
MLS #140993 - Country Club Homes, 700 Snowmass Club Circle 84, Snowmass Village, CO: Sold Price: $1,150,000/$600 sq ft; unfurnished. Aspen townhome for sale Ask Price: $1,253,000. (Original Price: $1,283,000 and 452 days on the market since 09/14/2015.) This is a 1989 built and 2007 remodeled, 2 bedroom/2 bath/1 half-bath, 1,914 sq ft townhouse with 1 car garage. Broker comments are "Freshly painted throughout, new appliances in kitchen, and newly created laundry-mudroom make this well priced town home an exceptional opportunity. Rarely available 2 bedroom floorplan with bedrooms on lower level and living room, kitchen and powder room on the upper level to maximize the views and the volume created by the vaulted ceilings in the entire living area. Terrific location on the creek, close to the Snowmass Club with expansive mountain views and abundant sunshine. This location also provides open space across the creek and at both ends of building 15." 2014 Taxes: $5,587; HOA Dues: $12,198 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 02/10/2017; Sold Date: 02/28/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Snowmass Village)
 
MLS #147050 - Capitol Peak Condominiums, 90 Carriage Way Unit 3420, Snowmass Village, CO: Sold Price: $1,100,000/$827 sq ft; furnished. More details below photos.
Aspen real estate 030517 147050 90 Carriage Way Unit 3420 1 590W  Aspen real estate 030517 147050 90 Carriage Way Unit 3420 2 590W  Aspen real estate 030517 147050 90 Carriage Way Unit 3420 3 190H Aspen real estate 030517 147050 90 Carriage Way Unit 3420 4 190H  Aspen real estate 030517 147050 90 Carriage Way Unit 3420 5 190H Aspen real estate 030517 147050 90 Carriage Way Unit 3420 6 190H
MLS #147050 - Capitol Peak Condominiums, 90 Carriage Way Unit 3420, Snowmass Village, CO: Sold Price: $1,100,000/$827 sq ft; furnished. Aspen condo for sale Ask Price: $1,179,000. (Original Price: $1,179,000 and 408 days on the market since 11/23/2015.) This is a 2008 built, 3 bedroom/2 bath, 1,329 sq ft condo. Broker comments are "Unit 3420 is the only extra large two bedroom den unit in Capitol Peak. It has windows on three sides, vaulted ceilings, all day sun and panoramic views of the ski mountain. This two bedroom den Penthouse lives and rents like a three bedroom and the 1,329 sq./Ft is larger than many three bedrooms. The unit overlooks the planned events plaza and skating rink plus the fourth floor location has unobstructed ski mountain views. It is located at the core of Base Village and new development, with skiing only steps to the gondola and Village express. In addition, elevator access to a heated garage, restaurants, hot tubs, exercise center, with the Base Village shops, activities and events out your front door. This unit has it all, and it's priced under $900 per sq./FT." 2016 Taxes: $7,604; HOA Dues: $5,348 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 02/04/2017; Sold Date: 03/03/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Snowmass Village)
 
MLS #144756 - Country Club Villas, 150 Snowmass Club Circle 1514, Snowmass Village, CO: Sold Price: $694,500/$552 sq ft; furnished. More details below photos.
Aspen real estate 030517 144756 150 Snowmass Club Circle 1514 1 590W  Aspen real estate 030517 144756 150 Snowmass Club Circle 1514 2 590W  Aspen real estate 030517 144756 150 Snowmass Club Circle 1514 3 190H Aspen real estate 030517 144756 150 Snowmass Club Circle 1514 4 190H  Aspen real estate 030517 144756 150 Snowmass Club Circle 1514 5 190H Aspen real estate 030517 144756 150 Snowmass Club Circle 1514 6 190H
MLS #144756 - Country Club Villas, 150 Snowmass Club Circle 1514, Snowmass Village, CO: Sold Price: $694,500/$552 sq ft; furnished. Aspen duplex/half-duplex for sale Ask Price: $712,000. (Original Price: $726,900 and 877 days on the market since 07/08/2014.) This is a 1987 built, 3 bedroom/3 bath, 1,256 sq ft duplex/half-duplex. Broker comments are "Price reduced for quick sale. The best priced Villa available. Play golf off the back patio at the Snowmass Golf Course, take the family alpine skiing just a short distance to Two Creeks or cross country out your back door on the golf course. Relax at the spa, workout, swim, play tennis, socialize and dine at the famous Snowmass Club just across the street. Custom features include granite countertops, cabinetry, solid glass shower enclosures on all baths, large lockable owners' closets, updated electronics, and well-designed bunk room for the kids. Offered furnished." 2016 Taxes: $2,808; HOA Dues: $3,578 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 12/28/2016; Sold Date: 02/17/2017. (Photos and broker comments courtesy of McKinley Sales)
 
MLS #140161 - Woodbridge, 35 Upper Woodbridge Road 19a 19a, Snowmass Village, CO: Sold Price: $397,000/$447 sq ft; partial-furnished. More details below photos.
Aspen real estate 030517 140161 35 Upper Woodbridge Road 19a 19a 1 590W  Aspen real estate 030517 140161 35 Upper Woodbridge Road 19a 19a 2 590W  Aspen real estate 030517 140161 35 Upper Woodbridge Road 19a 19a 3 190H Aspen real estate 030517 140161 35 Upper Woodbridge Road 19a 19a 4 190H  Aspen real estate 030517 140161 35 Upper Woodbridge Road 19a 19a 5 190H Aspen real estate 030517 140161 35 Upper Woodbridge Road 19a 19a 6 190H
MLS #140161 - Woodbridge Condos, 35 Upper Woodbridge Road 19a 19a, Snowmass Village, CO: Sold Price: $397,000/$447 sq ft; partial-furnished. Aspen condo for sale Ask Price: $445,000. (Original Price: $445,000 and 557 days on the market since 07/15/2015.) This is a 1973 built, 2 bedroom/2 bath, 887 sq ft condo. Broker comments are "Buyer pays Woodbridge $20,000. special assessemnt. Woodbridge Condominium located adjacent to the open common space and above the pool area, Woodbridge 19A is a delightful 2 bedroom condominium with lots of windows and storage. The unique floor plan offers a spacious kitchen area with room for extra bar seating. The bathrooms have modern vanities and both bedrooms have two closets. Utilities are included in the homeowner’s fees, including internet access. The Woodbridge complex is an ideal location within Snowmass Village. Leave the car in the common parking steps from the front door and take the quick walk to the Snowmass Center along the bike path or ski across the wood bridge to the base of Fanny Hill. The Special Assessment is payable by one payment of $20,000 or by quarterly payments of $1,050 for five(5) years." 2016 Taxes: $1,550; HOA Dues: $3,000 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 01/03/2017; Sold Date: 03/01/2017. (Photos and broker comments courtesy of Douglas Elliman Real Estate-SMV)
 
 

Recent Estin Report tweets on Aspen Real Estate

EstinAspen Mar 12 - 19, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (5) + Under Contract (27) https://t.co/lWyx0P4xuO
EstinAspen Mar 5 - 12, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (7) + Under Contract (15) https://t.co/5TEYy2PeZG
EstinAspen Feb 26 - Mar 5, 17 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (5) + Under Contract (5) https://t.co/uxoY2PQdmk
EstinAspen #AspenRealEstate and others Down in 2016 as Colorado #MountainLuxuryRealEstate Sales Decline https://t.co/ilZ7NJ4htu
EstinAspen Feb 19 - 26, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (6) + Under Contract (14) https://t.co/nAiOLqoBCn
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

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 19 - 26, 2017 Estin Report: Last Week's Aspen Snowmass Real Estate Sales & Stats: Closed (6) + Under Contract / Pending (14)


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.


An article appeared in the Denver Post yesterday, Sunday, on the Colorado Mountain resort real estate including Aspen and Pitkin County. 

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

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 better 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.

___________

Market Activity Week 8, February 19 - 26, 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 142360, 123936, 140077, 144676, 144756, 146826. This link is valid until 3/28/2017.

Under Contract/Pending (14)MLS#s 139558, 140993, 141615, 141788, 142777, 144524, 144795, 145398, 145843, 145868, 146706, 146979, 147537, 147577. This link is valid until 3/28/2017.

Aspen Snowmass Solds Last Week:  


MLS #146826 - Aspen Highlands, West Aspen, 117 Thunderbowl Lane, Aspen, CO. Sold Price: $5,300,000/$845 sq ft. More details below photos.
Aspen real estate 022617 146826 117 Thunderbowl Lane 1 590W  Aspen real estate 022617 146826 117 Thunderbowl Lane 2 590W  Aspen real estate 022617 146826 117 Thunderbowl Lane 3 190H Aspen real estate 022617 146826 117 Thunderbowl Lane 4 190H  Aspen real estate 022617 146826 117 Thunderbowl Lane 5 190H Aspen real estate 022617 146826 117 Thunderbowl Lane 6 190H
MLS #146826 - Aspen Highlands, West Aspen, 117 Thunderbowl Lane, Aspen, CO. Sold Price: $5,300,000/$845 sq ft. Aspen townhouse for sale Ask Price: $5,500,000. (Original Price: $5,500,000 and 504 days on the market since 04/16/2015.) This is a 2006 built and 2016 remodeled, 5 bedroom/5 bath/1 half-bath, 6,266 sq ft townhouse with 2 car garage. Broker comments are "Highly coveted, premier ski-in/ski-out town home in Aspen Highlands, located just minutes from downtown Aspen. The current owner had first choice and selected this slopeside end lot for its commanding views of the Thunderbowl and Goldenhorn ski runs and direct ski access on to Smuggler. Built by well-known Highlands builder Paul Rasmussen and architect David Johnston, this newly updated mountain retreat has the largest floor plan of all of the Thunderbowl town homes. Property features include; hard wood floors, cathedral ceilings, custom beam trusses, stone gas fireplaces, spacious bedrooms, a media room, wine room and private elevator. Ownership includes Ritz Carlton amenities: outdoor pools and hot tubs, Willow Creek Bistro, weight room, spa and complimentary transportation to and from Aspen and the Aspen Airport." 2016 taxes: $27,556; HOA Dues: $5,787 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/11/2017; Sold Date: 02/14/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Hyman Mall)
 
MLS #140077 - Aspen Hof, Downtown Core Commercial, 520 E Cooper Avenue Rb-1, Aspen, CO. Sold Price: $3,400,000/$912 sq ft. More details below photos.
Aspen real estate 022617 140077 520 E Cooper Avenue Rb 1 1 590W  Aspen real estate 022617 140077 520 E Cooper Avenue Rb 1 2 590W  Aspen real estate 022617 140077 520 E Cooper Avenue Rb 1 3 190H Aspen real estate 022617 140077 520 E Cooper Avenue Rb 1 4 190H
MLS #140077 - Aspen Hof, Downtown Core Commercial, 520 E Cooper Avenue Rb-1, Aspen, CO. Sold Price: $3,400,000/$912 sq ft. Aspen commercial for sale Ask Price: $3,950,000. (Original Price: $4,400,000 and 573 days on the market since 07/14/2015.) This is a 1970 built, 1-5 units, 3,726 sq ft commercial industria. Broker comments are "Steady cash flow with long term tenants. Completely renovated with total rewire, plumbing and all mechanicals. This is a long term hold with 3% escalators annually. Cap Rate 5.7 and NOI $226.297. Seller is a licensed broker." 2014 taxes: $21,407; HOA Dues: $24,000. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 12/28/2016; Sold Date: 02/17/2017. (Photos and broker comments courtesy of Kruger and Company)
 
MLS #144676 - West End, 521 N Seventh Street, Aspen, CO. Sold Price: $3,200,000/$1,219 sq ft; unfurnished. More details below photos.
Aspen real estate 022617 144676 521 N Seventh Street 1 590W  Aspen real estate 022617 144676 521 N Seventh Street 2 590W  Aspen real estate 022617 144676 521 N Seventh Street 3 190H Aspen real estate 022617 144676 521 N Seventh Street 4 190H  Aspen real estate 022617 144676 521 N Seventh Street 5 190H Aspen real estate 022617 144676 521 N Seventh Street 6 190H
MLS #144676 - West End, 521 N Seventh Street, Aspen, CO. Sold Price: $3,200,000/$1,219 sq ft; unfurnished. Aspen duplex/half-duplex for sale Ask Price: $3,495,000. (Original Price: $3,650,000 and 253 days on the market since 06/13/2016.) This is a 1974 built and 2016 remodeled, 3 bedroom/3.5 Ba, 2,625 sq ft half duplex. Broker comments are "West End Charm Aspen’s West End only 2 blocks from the music festival. What could be better? Just remodeled including a New roof, New deck ,New hardwood flooring in the living room New carpeting Newly painted and more. This charming home is unique in its setting with large outdoor spaces and a summer stream. Quality gourmet kitchen,3 fireplaces and more. It has a one bedroom apartment that is attached and also has a separate entrance. From intimate dining indoors or out to large parties the level of comfort is amazing." 2015 taxes: $6,893. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/05/2017; Sold Date: 02/21/2017. (Photos and broker comments courtesy of Engel & Völkers)
 
MLS #123936 - Two Creeks, 120 Timber Ridge Lane, Snowmass Village, CO: Sold Price: $6,900,000/$1,214 sq ft; furnished. More details below photos.
Aspen real estate 022617 123936 120 Timber Ridge Lane 1 590W  Aspen real estate 022617 123936 120 Timber Ridge Lane 2 190H Aspen real estate 022617 123936 120 Timber Ridge Lane 3 190H  Aspen real estate 022617 123936 120 Timber Ridge Lane 4 190H Aspen real estate 022617 123936 120 Timber Ridge Lane 5 190H  Aspen real estate 022617 123936 120 Timber Ridge Lane 6 190H Aspen real estate 022617 123936 120 Timber Ridge Lane 7 190H
MLS #123936 - Two Creeks, 120 Timber Ridge Lane, Snowmass Village, CO: Sold Price: $6,900,000/$1,214 sq ft; funished. Aspen home for sale Ask Price: $7,500,000. (Original Price: $9,950,000 and 1,866 days on the market since 01/13/2012.) This is a 1998 built and 2000 remodeled, 5 bedroom/5 bath/1 half-bath, 5,682 sq ft single family residence with a 2 car garage on a 38,768 sq ft lot. Broker comments are "If you are looking for one of the most handsome single family homes in Two Creeks, ski-in and ski-out, contemporary in feel yet still a warm mountain look, end of the cul-de-sac privacy, you must see this house. Originally designed by Robert Trown, there are five very generous bedrooms, a wonderful master bathroom, five and a half baths, TV room, and new integrated Crestron system. Looking through the trees, enjoy the privacy, while accessing the Creekside ski slope on a private trail. Excellent layout with the master bedroom on the main living area, guest bedroom upstairs and the TV room and three bedrooms downstairs." 2016 Taxes: $23,770; HOA Dues: $1,115 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 01/28/2017; Sold Date: 02/21/2017. (Photos and broker comments courtesy of Douglas Elliman Real Estate-Hyman Ave)
 
MLS #142360 - Country Club Villas, 150 Country Club Circle #1511, Snowmass Village, CO: Sold Price: $775,000/$630 sq ft; furnished. More details below photos.
Aspen real estate 022617 142360 150 Country Club Circle 1511 1 590W  Aspen real estate 022617 142360 150 Country Club Circle 1511 2 590W  Aspen real estate 022617 142360 150 Country Club Circle 1511 3 190H Aspen real estate 022617 142360 150 Country Club Circle 1511 4 190H  Aspen real estate 022617 142360 150 Country Club Circle 1511 5 190H Aspen real estate 022617 142360 150 Country Club Circle 1511 6 190H
MLS #142360 - Country Club Villas, 150 Country Club Circle #1511, Snowmass Village, CO: Sold Price: $775,000/$630 sq ft; funished. Aspen condo for sale Ask Price: $795,000. (Original Price: $795,000 and 405 days on the market since 01/14/2016.) This is a 1987 built and 2015 remodeled, 3 bedroom/3 bath, 1,229 sq ft condo. Broker comments are "Welcome to the Villas at the Snowmass Club. Situated on the golf course with views of Burnt Mountain, this newly remodeled, Premier Rated, 3 bedroom, 3 bathroom condo is the perfect ski or golf getaway. As a corner unit with numerous windows there is abundant natural light and a private ground floor patio opening to green space. This turnkey unit features high end finishes throughout its open one-level floor plan. Owners have access to the Snowmass Club amenities which includes tennis, a 20,000 sf gym, spa, pools, esteemed restaurant, and Jim Engh golf course. The Villas also offer on-site, full-service management with concierge and short term rental coordination if desired. With acclaimed golf courses and hiking/biking trails, literally out the back door in the summer and easy access to Snowmass Mountain and 100 kilometers of cross country trails in the winter, Villas at Snowmass Club have everything your heart desires for a home-away-from-home." 2016 Taxes: $2,651; HOA Dues: $3,801 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 01/09/2017; Sold Date: 02/22/2017. (Photos and broker comments courtesy of Douglas Elliman Real Estate-Durant)
 
MLS #144756 - Country Club Villas, 150 Snowmass Club Circle 1514, Snowmass Village, CO: Sold Price: $694,500/$552 sq ft; furnished. More details below photos.
Aspen real estate 022617 144756 150 Snowmass Club Circle 1514 1 590W  Aspen real estate 022617 144756 150 Snowmass Club Circle 1514 2 590W  Aspen real estate 022617 144756 150 Snowmass Club Circle 1514 3 190H Aspen real estate 022617 144756 150 Snowmass Club Circle 1514 4 190H  Aspen real estate 022617 144756 150 Snowmass Club Circle 1514 5 190H Aspen real estate 022617 144756 150 Snowmass Club Circle 1514 6 190H
MLS #144756 - Country Club Villas, 150 Snowmass Club Circle 1514, Snowmass Village, CO: Sold Price: $694,500/$552 sq ft; funished. Aspen duplex/half-duplex for sale Ask Price: $712,000. (Original Price: $726,900 and 877 days on the market since 07/08/2014.) This is a 1987 remodeled, 3 bedroom/3 bath, 1,256 sq ft duplex/half-duplex. Broker comments are "Price reduced for quick sale! The best priced Villa available! Play golf off the back patio at the Snowmass Golf Course, take the family alpine skiing just a short distance to Two Creeks or cross country out your back door on the golf course. Relax at the spa, workout, swim, play tennis, socialize and dine at the famous Snowmass Club just across the street. Custom features include granite countertops, cabinetry, solid glass shower enclosures on all baths, large lockable owners' closets, updated electronics, and well-designed bunk room for the kids. Offered furnished and ready for you to enjoy!" 2016 Taxes: $2,808; HOA Dues: $3,578 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 12/28/2016; Sold Date: 02/17/2017. (Photos and broker comments courtesy of McKinley Sales)
 
 

Recent Estin Report tweets on Aspen Real Estate

EstinAspen Mar 12 - 19, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (5) + Under Contract (27) https://t.co/lWyx0P4xuO
EstinAspen Mar 5 - 12, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (7) + Under Contract (15) https://t.co/5TEYy2PeZG
EstinAspen Feb 26 - Mar 5, 17 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (5) + Under Contract (5) https://t.co/uxoY2PQdmk
EstinAspen #AspenRealEstate and others Down in 2016 as Colorado #MountainLuxuryRealEstate Sales Decline https://t.co/ilZ7NJ4htu
EstinAspen Feb 19 - 26, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (6) + Under Contract (14) https://t.co/nAiOLqoBCn
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

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."

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

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