Dec 10 – 17, 2017 Estin Report: Last Week’s Aspen Snowmass Real Estate Sales & Stats: Closed (5) + Under Contract / Pending (12)

New in Current Reports 11/20/17: Where are we now? Chart Series: 2006 – Q3 2017 Historic Pace of Aspen and Snowmass Village Dollar and Unit Sales (updated every quarter).

    

Clients often ask, “Where are we now compared to the Great Recession…?”. My interest in creating this series of charts is to answer that question for myself and to offer a visual reference for that conversation – to compare Aspen and Snowmass Village sales activity now to pre-recession mid-2000’s levels…Read more

Estin Report: Nov. 2017 Aspen Snowmass Market Snapshot was posted on Dec 6th in Current Reports.

Nov 2017 Bottom Line

Nov 2017 continues the strong performance we’ve experienced throughout the year. We are close to beating the record year 2015.

Standout categories for the month of November are:

1) Aspen condo sales up 31% YTD while inventory of available listings is off -29%. In the 3-mos sales period from Sep-Nov 17, the avg condo/townhome sold at $1,731 sq ft over $1,346 in the same period Nov 2016, +29%.
2) Value outside Aspen Core: an example of excellent values away from the Aspen Core, Starwood had (3) sales Sep-Nov 17 at an avg $610 sq ft vs $830 sq ft same period a year ago, -26%.  The caveat: these sales were for older homes selling essentially at lot value, but for reference, compare this to the avg. (3) downtown SF home sale at $2,227 sq ft in the same period.
 3) Snowmass Village values: SMV has been very active in Nov 17 with (16) sales vs (7) last year, +129%; dollar sales even better – $29.7M vs $6.9M, +331%. Of (4) Ridge Run SFH sales Sep-Nov 17, the avg sale was $635 sq ft vs $1,095 same period last year. SMV opportunities continue…in general, prices are similar, if not down incrementally, from last year.

Deep Dive: Sales by Location ( See 3-mos sales avgs Sep-Nov ’17 on pgs 7 & 9:)

     

Aspen Sales by Neighborhood                  Snowmass Village Sales by Neighborhood

“Flip Job” Examples:
See recent Before/After Redeveloped Properties in the Flip Jobs Section.  These are properties that have been recently, or are currently, in the process of redevelopment for re-sale. This post is updated regularly (10/23/2017) as additional re-sale properties come on the market at significantly higher prices.

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Market Activity Week 51, Dec 10 – 17, 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 in the upper Roaring Fork Valley. Fractional/Timeshare sales are not included. Because the MLS links below expire after 30 days, photos and written descriptions of most closed properties (those with excellent photography) are posted here to preserve an archive of sold market activity. Scroll down the page for property photos and details of weekly sales and under contract / pending. For earlier dates, see the Estin Report blog archives from 2008 at the bottom of the page. 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: 151274, 145881, 149307, 150441, 151302. This link is valid until 1/16/2018.

Under Contract/Pending (12): MLS#s: 151525, 141832, 144583, 144934, 144942, 146100, 150254, 151637, 151711, 151736, 151833, 151874. This link is valid until 1/16/2018.

Aspen Snowmass Solds Last Week: 

MLS #149307 – Wildridge, 328 Oak Ridge Road, Snowmass Village, CO: Sold Price: $1,600,000/$751 sq ft. More details below photos.

MLS #149307 – Wildridge, 328 Oak Ridge Road, Snowmass Village, CO: Sold Price: $1,600,000/$751 sq ft. Snowmass Village single family home for sale. Ask Price: $1,795,000. (Original Price: $1,795,000 and 192 days on the market since 06/05/2017.) This is a 1970 built and 1992, 3 bedroom/2 bath/1 half-bath, 2,129 sq ft single family home with 2 car garage on a 1.07 acres lot. Broker comments are “A great lot on the sunny side of Snowmass, in the Aspen school district, over an acre and fronting onto open space, nice vegetation, superb views with snow-wrapped peaks. Livable while planning a new home. Oak Ridge Road is a great address and a charming quiet street. One floor living. ” 2016 Taxes: $5,367; HOA Dues: $90 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 11/04/2017; Sold Date: 12/14/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #151302 – Aspen Village, Woody Creek, 91 Aspen Village, Aspen, CO. Sold Price: $325,000/$362 sq ft; unfurnished. More details below photos.

MLS #151302 – Aspen Village Mobile Park, Woody Creek, 91 Aspen Village, Aspen, CO. Sold Price: $325,000/$362 sq ft; unfurnished. Aspen mobile/single family home for sale. Ask Price: $325,000. (Original Price: $325,000 and 58 days on the market since 10/15/2017.) This is a 1999 built, 2 bedroom/1 bath, 896 sq ft mobile/single family home on a 3,175 sq ft lot. It is a permanent structure built on a standard mobile home space, 100′ x 300′. Broker comments are “Lovely Aspen Village home and land. This 896 sf home with 2 bedrooms and 1 bathroom sits on a 3,175 sf lot. Kitchen features ceramic countertops and laminate flooring. Vaulted ceilings throughout provide spacious ambiance. An open floor plan adjoins kitchen and living room making entertaining easy. Carport and parking for 2 cars + 1 additional parking spot. No dogs allowed. Located on bus route. Community pool, gym and club house. Deed Restricted to Resident Occupied (RO) by Aspen Pitkin County Housing Authority (www.apcha.org). Buyer must work a min. 1500 hrs/yr in the Roaring Fork Valley. Must be owner occupied. There is no sale price restriction.” 2016 taxes: $2,191. Under Contract Date: 10/23/2017; Sold Date: 12/12/2017. (Photos and broker comments courtesy of Janet Mitchell & Co)

About Aspen Village – From Aspen Pitkin County Housing Authority (apcha.org):
“Aspen Village was a rental mobile home park until 1996. Beginning in 1996, the tenants of the mobile home park began work on purchasing the Park with the ability to subdivide the lots. The Park became an ownership park in 2000 and consists today of 150 homes. The requirement to purchase a home in Aspen Village is a one-year full-time work history within the Roaring Fork Valley. In order to maintain ownership, the owner must continue to work within the Roaring Fork Valley full-time until retirement age as defined in the Aspen/Pitkin County Employee Housing Guidelines.”

MLS #150441 – Hayden Lodge, 120 Carriage Way #2307, Snowmass Village, CO: Sold Price: $995,000/$904 sq ft; furnished. More details below photos.

MLS #150441 – Hayden Lodge Condo, 120 Carriage Way #2307, Snowmass Village, CO: Sold Price: $995,000/$904 sq ft; furnished. Snowmass Village condo for sale. Ask Price: $1,095,000. (Original Price: $1,095,000 and 2,529 days on the market since 05/15/2008.) This is a 2007 built, 2 bedroom/2 bath, 1,101 sq ft condo. Broker comments are “Excellent Ski Access. This is the best of the best at the base of the mountain. Ultimate location and convenience. This top floor corner condo has vaulted ceilings, views, patio space, stainless appliances, gas range, wine cooler, and comfort. The prestigious Hayden Lodge has reserved parking, spa, ski lockers, and extra storage all located within the exclusive building. Restaurants, skiing, bike trails, hiking and shopping are just steps away. Never rented. Hardly used. Like new. It is the best buy in the building and would be an ideal rental property or awesome vacation retreat for family, friends and clients. It is a must see and easy to show.” 2016 Taxes: $9,078; HOA Dues: $4,398 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 10/24/2017; Sold Date: 12/08/2017. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-SMV)

MLS #151274 – Woodbridge, 35 Upper Woodbridge Road 31-EF, Snowmass Village, CO: Sold Price: $514,500/$562 sq ft; furnished. More details below photos.

MLS #151274 – Woodbridge Condominiums, 35 Upper Woodbridge Road 31-EF, Snowmass Village, CO: Sold Price: $514,500/$562 sq ft; furnished. Snowmass Village condo for sale. Ask Price: $549,000. (Original Price: $549,000 and 53 days on the market since 10/16/2017.) This is a 1973 built, 2 bedroom/2 bath, 916 sq ft condo. Broker comments are “Unparalleled views of the Snowmass ski area from this top floor Woodbridge Condominium. This light and bright, furnished 2 bed/2 bath (plus 108 sq.ft. sleeping loft) property features vaulted ceilings, huge picture windows facing the ski slopes, balconies off both the living area as well as the master bedroom, ski access via the ski bridge to Assay Hill, gas fireplace, open floor plan and sleeps up to 8. Enjoy as is or remodel to your tastes. No rental restrictions and owners can now add a washer/dryer. Complex has a swimming pool, hot tub, common laundry, ample parking, and direct shuttle transportation to the ski slopes, restaurants and shopping.” 2016 Taxes: $1,854; HOA Dues: $3,100 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 10/23/2017; Sold Date: 12/08/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #145881 – Seasons 4 Condos, 35 Lower Woodbridge Road 179, Snowmass Village, CO: Sold Price: $460,000$483 sq ft; furnished. More details below photos.

MLS #145881 – Seasons 4 Condos, 35 Lower Woodbridge Road 179, Snowmass Village, CO: Sold Price: $460,000/$483 sq ft; furnished. Snowmass Village condo for sale. Ask Price: $495,000. (Original Price: $525,000 and 478 days on the market since 08/12/2016.) This is a 1971 built and 2001 remodeled, 2 bedroom/1 bath/1 3/4-bath, 952 sq ft condo. Broker comments are “Nicely remodeled and lightly used. Not rented for last sixteen years, ready to go. Best value for housing in the upper valley. Below replacement cost. Great pool and Jacuzzi, best view from a Jacuzzi in the Village.” 2015 Taxes: $1,386; HOA Dues: $1,523 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 11/03/2017; Sold Date: 12/03/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

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