Dec 3 – 10, 2017 Estin Report: Last Week’s Aspen Snowmass Real Estate Sales & Stats: Closed (12) + Under Contract / Pending (11)

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

The 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 50, Dec 3 – 10, 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 (12):  MLS#s: 135715, 139835, 140408, 143239, 144099, 146913, 149637, 149918, 150682, 150943, 151152, 151805. This link is valid until 1/9/2018.

Under Contract/Pending (11): MLS#s: 136969, 143855, 143884, 146803, 147587, 147746, 149456, 150485, 150922, 151665, 151793. This link is valid until 1/9/2018.

Aspen Snowmass Solds Last Week: 

MLS #144099 – River Park, Central Core, 134 N Spring Street, Aspen, CO. Sold Price: $11,585,000/$2,049 sq ft; furnished. More details below photos.

MLS #144099 – River Park, Central Core, 134 N Spring Street, Aspen, CO. Sold Price: $11,585,000/$2,049 sq ft; furnished. Aspen townhouse for sale. Ask Price: $12,995,000. (Original Price: $12,500,000 and 566 days on the market since 05/17/2016.) This is a 1992 built and 2016 remodeled, 4 bedroom/4 bath/2 half-bath, 5,653 sq ft townhouse with 2 car garage. Broker comments are “Completely renovated with a warm and contemporary palate. Marble, wood, architectural steel and stone finishes of the highest caliber. The privacy of this location is truly unique given that it’s on the doorstep to downtown Aspen. The home features Aspen Mountain views, sunny roof top deck, private two car garage, elevator, on-site management and a common area with a pool and spa. 4 bedrooms, 4 full baths, and 2 half baths. The neighboring home (132 North Spring Street) was recently remodeled/furnished and is available for purchase to create a 9 bedroom, two home compound.” 2017 taxes: $15,471; HOA Dues: $12,890 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 10/10/2017; Sold Date: 12/04/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #140408 – West End, 110 E Bleeker Street, Aspen, CO. Sold Price: $9,500,000/$2,070 sq ft; unfurnished. More details below photo.

MLS #140408 – West End, 110 E Bleeker Street, Aspen, CO. Sold Price: $9,500,000/$2,070 sq ft; unfurnished. Aspen single family home for sale. Ask Price: $9,500,000. (Original Price: $8,995,000 and 857 days on the market since 07/31/2015.) This is a 1888 built and 2016 remodeled, 4 bedroom/4 bath/1 half-bath, 4,588 sq ft single family home with 2 car garage on a 6,000 sq ft lot. The house was remodeled beautifully110 E Bleeker Renderings & Floorplans. The result absolutely stunning. Broker comments are “Tremendous Coveted Location for a single family home that has all the prestige of the West End but still so convenient to the commercial core only one block to the Jerome. The gorgeous remodel incorporates Vintage Aspen with chic custom contemporary details that every buyer wants today. Gracious parking and garage area which is exceptional for this location. Spectacular south facing exposure with Wonderful patios and yard with Aspen Mountain views.  This is a rare gem fully remodeled to the studs with air conditioning two car garage snow melt driveway. Brand new lower level and new guest suite over the garage are just a few new additions. Floor plans and survey located in Documents. Completion Fall of 2016” 2015 taxes: $10,444. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 10/02/2016; Sold Date: 12/04/2017. (Photos and broker comments courtesy of Whitman Fine Properties)

MLS #151805 – Pitkin Green, Red Mountain, 69 Herron Hollow Road, Aspen, CO. Sold Price: $9,500,000/$1,517 sq ft. More details below photos.

MLS #151805 – Pitkin Green, Red Mountain, 69 Herron Hollow Road, Aspen, CO. Sold Price: $9,500,000/$1,517 sq ft. Aspen single family home for sale. Ask Price: $9,500,000. (Sold before MLS. Exactly 3 yrs earlier, Dec 4, 14 the property sold at $6.8M/$1,085 sq ft.) This is a 1990 built and 2010 remodeled, 5 bedroom/5 bath/2 half-bath, 6,262 sq ft single family home with 2 car garage on a 1.07 acres lot. This older home sale, selectively remodeled but still dated, is all about location: it borders the west edge of Willoughby Way, Aspen’s most elite address, and apporx. 85-90% of the value of the sale was for the land. Broker comments are “Situated on over an acre of extraordinary mountain-view property and located on the ”Fifth Avenue” of Aspen, this unique estate truly defines living at its finest. Completely refurbished in 2010, this home provides exquisite finishes and the finest furnishings throughout. The expansive master suite includes a double-sided stone gas fireplace, two private decks, a reading nook, 700 sq. ft. of lavish bathroom space complete w/heated tavertine floors, steam shower, jetted tub, enormous walk-in closets, and dressing area. Gourmet, eat-in, chef’s kitchen, separate formal dinning area, & multiple living spaces with sweeping mountain & landscape views. Special features include a Western billiards room w/custom pool table, antique log bar, and a gym/massage room with infra-red sauna. Must See.” 2016 taxes: $14,747. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 12/04/2017; Sold Date: 12/04/2017. (Photos and broker comments courtesy of Whitman Fine Properties)

MLS #139835 – West End, 506 W Hallam Street, Aspen, CO. Sold Price: $4,900,000 sq ft; unfurnished. More details below photos.

MLS #139835 – West End, 506 W Hallam Street, Aspen, CO. Sold Price: $4,900,000 sq ft; unfurnished. Aspen single family home for sale. Ask Price: $5,495,000. (Original Price: $7,995,000 and 847 days on the market since 06/08/2015.) This is more-or-less a lot value sale for a significantly handicapped older home with a huge solitary evergreen tree situated in the front yard. The City of Aspen restrictive tree removal process is expensive, if allowed, and arduous (due to tree’s age and ‘historical’ significance) and the tree severely constrains house views and sunlight. This is a 1977 built and 2006 remodeled, 5 bedroom/5 bath/1 half-bath, 6,000 sq ft single family home on a 6,000 sq ft lot. Broker comments are “Beautifully renovated contemporary home in the heart of the historic West End. Sophisticated architecture and design, this unique residence features multiple bedroom suites, office, family room with bar, and spectacular rooftop deck. Magnificent landscaping, mature trees, dramatic views of Aspen Mountain and much much more.” 2014 taxes: $11,633. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 11/04/2017; Sold Date: 12/07/2017. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)

MLS #135715 – Starwood, McLain Flats, 574 Johnson Drive, Aspen, CO. Sold Price: $3,650,000/$574 sq ft; unfurnished. More details below photos.

MLS #135715 – Starwood, McLain Flats, 574 Johnson Drive, Aspen, CO. Sold Price: $3,650,000/$574 sq ft; unfurnished. Aspen single family home for sale. Ask Price: $3,995,000. (Original Price: $4,950,000 and 1,052 days on the market since 07/29/2014.) This is a 1984 built, 4 bedroom/4 bath/1 half-bath, 6,350 sq ft single family home with 3 car garage on a 3.83 acres lot. This is a sale at or near lot value for an older, very cool but dated home with an interior pool in the living room. Numerous Playboy Magazine-type photo shoots took place in this once very sexy pad. Broker comments are “Starwood’s Garden of Eden. Enjoy a touch of the tropics in the Rocky Mountains. Savor Starwood’s best panoramic views from Aspen Highlands to Mount Sopris from the 3.83 acres of rolling green grass and wilderness. Magical sunsets appear over Mount Sopris, Capital Peak and Mount Daly from the four bedroom four and a half bath, 6,350 square foot Bill Poss designed contemporary home.” 2014 taxes: $16,299; HOA Dues: $250 per Yr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/19/2017; Sold Date: 11/30/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #149637 – Villas of Aspen, West End, 100 N 8th Street 29, Aspen, CO. Sold Price: $2,300,000/$1,099 sq ft. More details below photos.

MLS #149637 – Villas of Aspen, West End, 100 N 8th Street 29, Aspen, CO. Sold Price: $2,300,000/$1,099 sq ft. Aspen townhouse for sale. Ask Price: $2,450,000. (Original Price: $2,450,000 and 167 days on the market since 06/21/2017.) This is a 1972 built, 3 bedroom/3 bath/1 half-bath, 2,092 sq ft townhouse. Broker comments are “Location. Perched overlooking Castle Creek, this townhouse is in the only Villas of Aspen building with walkout lower level. Set at the quiet rear of the complex, you feel like you are in the country. Great sunset views over the Castle Creek valley with sounds of Castle Creek year round. Exterior redo has already been completed on this complex.” 2016 taxes: $4,591; HOA Dues: $1,781 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 10/20/2017; Sold Date: 12/05/2017. (Photos and broker comments courtesy of Furth Realty Group, LLC)

MLS #151152 – Fifth Ave Condo, Central Core, 800 S Mill Street 3, Aspen, CO. Sold Price: $1,450,000/$1,362 sq ft; furnished. More details below photos.

MLS #151152 – Fifth Ave Condo, Central Core, 800 S Mill Street #3, Aspen, CO. Sold Price: $1,450,000/$1,362 sq ft; furnished. Aspen condo for sale. Ask Price: $1,597,000. (Original Price: $1,597,000 and 288 days on the market since 06/11/2016.) This is a 1965 built and 2013 remodeled, 3 bedroom/3 bath, 1,064 sq ft condo. Broker comments are “Clean and fresh 3 bedroom condo in Aspen Central Core. All on one level and no steps to the unit! Recent exterior renovation lends to a contemporary feel of one of Aspen’s classic condominium complexes. Ski access to Aspen Mtn. Gondola.” 2016 taxes: $2,530; HOA Dues: $3,109 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 10/16/2017; Sold Date: 12/01/2017. (Photos and broker comments courtesy of Berkshire Hathaway HomeServices | Aspen Snowmass Properties)

MLS #146913 – Fifth Ave Condo, Central Core, 800 S Mill Street #307, Aspen, CO. Sold Price: $1,320,000/$1,116 sq ft; furnished. More details below photos.

MLS #146913 – Fifth Ave Condo, Central Core, 800 S Mill Street #307, Aspen, CO. Sold Price: $1,320,000/$1,116 sq ft; furnished. Aspen condo for sale. Ask Price: $1,395,000. (Original Price: $1,598,500 and 604 days on the market since 09/18/2015.) This is a 1965 built, 3 bedroom/2 bath, 1,182 sq ft condo. Broker comments are “The third-floor location of this convenient, in-town condominium rewards you with an in-the-trees setting and close-up Aspen Mountain views. Toast to après ski on the balcony as you watch the last skiers descend the mountain. Catch the scenery through windows that span the ceiling as you warm by the fireplace.” 2016 taxes: $3,026; HOA Dues: $3,375 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 10/29/2017; Sold Date: 12/04/2017. (Photos and broker comments courtesy of Berkshire Hathaway HomeServices | Aspen Snowmass Properties)

MLS #150682 – Ridge Run, 95 Ridge Road, Snowmass Village, CO: Sold Price: $2,462,500/$571 sq ft; furnished. More details below photos.

MLS #150682 – Ridge Run, 95 Ridge Road, Snowmass Village, CO: Sold Price: $2,462,500/$571 sq ft; furnished. Snowmass Village single family home for sale. Ask Price: $2,595,000. (Original Price: $2,595,000 and 98 days on the market since 08/28/2017.) This is a 1989 built, 4 bedroom/4 bath/1 half-bath/1 den, 4,311 sq ft single family home with 2 car garage on a 30,017 sq ft lot. Broker comments are “A perfect place to call home in Ridge Run! Fantastic views are framed by the cathedral ceilings in the great room. The elegant floor plan creates an innate flow to the house while keeping separation for guests. Master suite is on the main floor which is the same level as the great room and kitchen. The lower level bedrooms, including second master suite, walk out to the back yard and all are en suite. Located off Ridge Road with a shared driveway, the home has views and easy access to skiing, shopping, and restaurants. Dial-a-ride is also available during the winter season.” 2016 Taxes: $9,630; HOA Dues: $90 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 09/20/2017; Sold Date: 12/04/2017. (Photos and broker comments courtesy of Douglas Elliman Real Estate-SMV)

MLS #149918 – Ridge, 810 Ridge Road Unit 6, Snowmass Village, CO: Sold Price: $1,972,500/$875 sq ft; furnished. More details below photos.

MLS #149918 – Ridge, 810 Ridge Road Unit 6, Snowmass Village, CO: Sold Price: $1,972,500/$875 sq ft; furnished. Snowmass Village condo for sale. Ask Price: $2,100,000. (Original Price: $2,350,000 and 154 days on the market since 07/06/2017.) This is a 1982 built and 2014 remodeled, 3 bedroom/3 bath, 2,254 sq ft condo. Broker comments are “Ski-in, ski-out and spectacular Mt. Daly views. High-end remodel with all new contemporary décor and appliances, beautiful hardwood floors, custom cabinetry, stone counters, and designer furnishings. Step out of the large soaking tub in the master bath onto the luxurious heated floors! This Ridge unit has soaring vaulted ceilings with skylights and clerestory windows in the LR and in the two upstairs bedrooms allowing in abundant sunshine. Unobstructed Mt. Daly views upstairs and downstairs, direct ski in/out access, downhill both ways. Heated lap pool and hot tub just outside. New furnace, automatic blinds and custom built-in closets in every room. Low HOA dues. Covered, assigned parking and two dedicated storage units. Steps away from free Snowmass Shuttle.” 2016 Taxes: $5,568; HOA Dues: $12,843 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 10/26/2017; Sold Date: 12/07/2017. (Photos and broker comments courtesy of Aspen Signature Properties)

MLS #143239 – Capitol Peak, 110 Carriage Way 3308, Snowmass Village, CO: Sold Price: $865,000/$835 sq ft; furnished. More details below photos.

MLS #143239 – Capitol Peak, 110 Carriage Way 3308, Snowmass Village, CO: Sold Price: $865,000/$835 sq ft; furnished. Snowmass Village condo for sale. Ask Price: $895,000. (Original Price: $915,000 and 619 days on the market since 03/25/2016.) This is a 2008 built and remodeled, 2 bedroom/2 bath, 1,035 sq ft condo with 1 car garage. Broker comments are “Premier slopeside 2 bedroom condo steps to everything in Snowmass and a short bus ride to Aspen. Granite counters, stainless appliances, gas fireplace, wood floors and more. Fully furnished and ready for your first visit! Views from every room and deck to the ridge above Elk Camp. Underground parking and concierge services. Location and amenities make this the perfect ski get away and great rental income property: Ski locker, hot tubs, gym, pool room, underground parking, elevator, conference center. Just bring your tooth brush.” 2016 Taxes: $5,921; HOA Dues: $3,958 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 10/18/2017; Sold Date: 12/04/2017. (Photos and broker comments courtesy of Wendy Lucas Aspen)

MLS #150943 – Seasons 4, 35 Lower Woodbridge Road 192, Snowmass Village, CO: Sold Price: $654,575/$521 sq ft; partial-furnished. More details below photos.

MLS #150943 – Seasons 4, 35 Lower Woodbridge Road #192, Snowmass Village, CO: Sold Price: $654,575/$521 sq ft; partial-furnished. Snowmass Village condo for sale. Ask Price: $695,000. (Original Price: $695,000 and 52 days on the market since 09/20/2017.) This is a 1971 built and 2016 remodeled, 3 bedroom/3 bath, 1,257 sq ft condo. Broker comments are “Extensive recent remodel on this meticulously maintained, cute, comfortable 3 bedroom Snowmass Seasons 4 condo. Located 100 feet from the Village Bus Shuttle stop. Ski to within 200 yards of the unit over Woodbridge. The unit was extensively renovated in 2005 including radiant heat in the baths, new Brazilian cherry wood flooring; sandblasting and staining of the vaulted redwood ceiling; all new stained knotty Alder wood trim and beautiful solid-core doors; newly reconfigured kitchen with knotty Alder cabinets with center island, granite counter tops, handmade Aspen leaf ceramic back splash, stainless steel appliances; and, all new baths. The unit was again updated in the winter of 2016-2017 including the reconfiguration of the foyer and other improvements listed below. 3rd br is loft.” 2016 Taxes: $1,885; HOA Dues: $1,850 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 11/14/2017; Sold Date: 12/07/2017. (Photos and broker comments courtesy of McKinley Sales)

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