The Dec 2016 YTD Snapshot has been postedinCurrent Reports. The Monthly Snapshots are usually posted on or near the 1st Monday of the month. My year end 2016 report will be released 1st or 2nd week of Jan 2017.

Nov 2016 Market Snapshot excerpt:

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

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

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

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

See recent Before/After redevelopment‘flip job’ examplesin Miscellaneous Info Sectionat the bottom of the Menu Bar on the left. These are properties that have been recently or are currently in the process of redevelopment for re-sale. This post is updated (12/28/16) as additional re-sale properties come on the market at significantly higher prices.

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Market Activity Week 1, January 1 – 8, 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 useSearchEstinAspenin 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 145704, 145918, 120210, 145063, 124260.This link is valid until 2/7/2017.

Under Contract/Pending (10):MLS#s 140161, 142138, 138471, 140077, 142839, 144182, 144756, 145072, 145354, 146796This link is valid until 2/7/2017.

Aspen Snowmass Solds Last Week:


MLS #145704 – Villager Condos, Central Core, 1001 E Cooper #5, Aspen, CO. Sold Price: $2,375,000/$1,448 sq ft; partial-furnished. More details below photos.
Aspen real estate 010817 145704 1001 E Cooper 5 1 590WAspen real estate 010817 145704 1001 E Cooper 5 2 590WAspen real estate 010817 145704 1001 E Cooper 5 3 190HAspen real estate 010817 145704 1001 E Cooper 5 4 190HAspen real estate 010817 145704 1001 E Cooper 5 5 190HAspen real estate 010817 145704 1001 E Cooper 5 6 190H
MLS #145704 – Villager Condos, Central Core, 1001 E Cooper #5, Aspen, CO. Sold Price: $2,375,000/$1,448 sq ft; partial-furnished. Asking Price: $2,495,000. (Original Price: $2,495,000 and 294 days on the market since 07/01/2015.) This is a 1965 built and 2010 remodeled, 3 bedroom/3 bath, 1,640 sq ft townhouse. Broker comments are “Incredible opportunity to own a impeccably remodeled 3 bedroom, 3 bathroom downtown townhouse. Features included in this end unit vaulted ceilings, AC, south facing deck with Aspen mountain views, stainless appliances and hardwood floors. Remodeled in 2010 by renowned architects Rowland & Broughton, there is not a square inch that doesn’t have a use within this open, modern & cozy 2-level townhome. This unit belongs to a small complex that boasts low HOA’s. Additionally included is an office, media/play room, and one parking space… just blocks from the gondola.” 2014 taxes: $3,633. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 10/28/2016; Sold Date: 01/04/2017. (Photos and broker comments courtesy of Bowden Properties)
MLS #145918 – Water View Condo, Woody Creek, 101 Water View Road, Snowmass, CO: Sold Price: $265,000/$591 sq ft. More details below photos.
Aspen real estate 010817 145918 101 Water View Road 1 590WAspen real estate 010817 145918 101 Water View Road 2 590WAspen real estate 010817 145918 101 Water View Road 3 190HAspen real estate 010817 145918 101 Water View Road 4 190HAspen real estate 010817 145918 101 Water View Road 5 190HAspen real estate 010817 145918 101 Water View Road 6 190H
MLS #145918 – Water View Condo, Woody Creek, 101 Water View Road, Snowmass, CO: Sold Price: $265,000/$591 sq ft. Asking Price: $269,000. (Original Price: $269,000 and 122 days on the market since 09/03/2016.) This is a 1970 built and 2012 remodeled, 1 bedroom/1 bath, 448 sq ft condo. Broker comments are “Very affordable, furnished, riverfront 1 bed/1 bath and only 20 minutes to Aspen. This cute condo with low HOA fees including unit heat makes an excellent primary residence, vacation home or rental property. Both the bedroom and living room overlook the river and there’s a covered deck facing the river. The 16 unit complex features common laundry facilities, a common BBQ on a grassy area facing the river, owner storage and plenty of parking. Owners and renters may have a pet. Excellent opportunity in today’s market.” 2015 Taxes: $1,288; HOA Dues: $360 per Month. Under Contract Date: 11/08/2016; Sold Date: 01/03/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #120210 – Wood Run, 611 Edgewood Lane, Snowmass Village, CO: Sold Price: $9,050,000. More details below photos.
Aspen real estate 010817 120210 611 Edgewood Lane 1 590WAspen real estate 010817 120210 611 Edgewood Lane 2 590WAspen real estate 010817 120210 611 Edgewood Lane 3 190HAspen real estate 010817 120210 611 Edgewood Lane 4 190HAspen real estate 010817 120210 611 Edgewood Lane 5 190HAspen real estate 010817 120210 611 Edgewood Lane 6 190H
MLS #120210 – Wood Run, 611 Edgewood Lane, Snowmass Village, CO: Sold Price: $9,050,000. Asking Price: $12,500,000. (Original Price: $12,500,000 and 2,121 days on the market since 3/21/11.) This is a 1.87 acres single family vacant lot. Broker comments are “Two gently sloping contigous ski in/out lots. An absolute one of a kind opportunity to create a private two home compound in Snowmass. No other opportunity exists like this in all of Snowmass. Surface water rights to create ponds and water features. Adjacent to open space for added privacy. Low in subdivision for quick easy access and walking distance to the mall. Only offered together as a package.” 2014 Taxes: $28,576; HOA Dues: $180 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 10/03/2016; Sold Date: 01/04/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Snowmass Village)
MLS #145063 – Country Club Homes, 366 Snowmass Club Circle Unit 3, Snowmass Village, CO: Sold Price: $1,700,000/$726 sq ft; furnished. More details below photos.
Aspen real estate 010817 145063 366 Snowmass Club Circle Unit 3 1 590WAspen real estate 010817 145063 366 Snowmass Club Circle Unit 3 2 590WAspen real estate 010817 145063 366 Snowmass Club Circle Unit 3 3 190HAspen real estate 010817 145063 366 Snowmass Club Circle Unit 3 4 190HAspen real estate 010817 145063 366 Snowmass Club Circle Unit 3 5 190HAspen real estate 010817 145063 366 Snowmass Club Circle Unit 3 6 190H
MLS #145063 – Country Club Homes, 366 Snowmass Club Circle Unit 3, Snowmass Village, CO: Sold Price: $1,700,000/$726 sq ft; furnished. Asking Price: $1,850,000. (Original Price: $1,975,000 and 181 days on the market since 07/08/2016.) This is a 1981 built and 2014 remodeled, 3 bedroom/4 bath, 2,340 sq ft townhouse with 1 car garage. Broker comments are “Perfect townhome to enjoy the Snowmass life. Country Club Townhome #3 has 3 bedrooms + office/den + loft with space and grace for everyone to enjoy. Remodeled in 2008 with new kitchen and 2014 with new baths, this unit is over 2,300 square feet. Large gourmet kitchen with farm table and formal dining area offers seating for all. The unit is completely wired for asound system, and has an active solar system to keep the electric bills low! Country Club Townhome #3 has views of golf course and Big Burn ski area from the expansive deck. Beautiful landscaping and snow removal provided by the Association. New roof installed last year and there is natural gas located close to this unit if the wood-burning fireplace isn’t desirable. Rental Restrictions under documents LEASING IS RESTRICTED to rentals or leasing to a single occupancy group of NOT LESS THAN FOUR MONTHS IN DURATION except for a single two-week rental period or two one-week rental periods permitted annually.” 2015 Taxes: $6,087; HOA Dues: $16,186 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 12/06/2016; Sold Date: 01/05/2017. (Photos and broker comments courtesy of Douglas Elliman Real Estate-SMV)
MLS #124260 – Timberline, 690 Carriage Way, D-2f, Snowmass Village, CO: Sold Price: $360,000/$517 sq ft; furnished. More details below photos.
Aspen real estate 010817 124260 690 Carriage Way D 2f 1 590WAspen real estate 010817 124260 690 Carriage Way D 2f 2 590WAspen real estate 010817 124260 690 Carriage Way D 2f 3 190HAspen real estate 010817 124260 690 Carriage Way D 2f 4 190HAspen real estate 010817 124260 690 Carriage Way D 2f 5 190HAspen real estate 010817 124260 690 Carriage Way D 2f 6 190H
MLS #124260 – Timberline, 690 Carriage Way, D-2f, Snowmass Village, CO: Sold Price: $360,000/$517 sq ft; furnished. Asking Price: $395,000. (Original Price: $445,000 and 1,794 days on the market since 02/01/2012.) This is a 1972 built and 2010 remodeled, 1 bedroom/1 bath, 696 sq ft condo. Broker comments are “A sweet one-bedroom property perfectly located slopeside on Fanny Hill. Super easy ski-access, but if you’re curled up in front of the fireplace, you can also watch skiers come down the trail. South-facing, so great sun on patio and up-mountain views. Conveniently located near pool, hot tub and restaurant. One of the best one-bedroom values in Snowmass.” 2015 Taxes: $1,249; HOA Dues: $825 per Month. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 12/18/2016; Sold Date: 12/30/2016. (Photos and broker comments courtesy of BERKSHIRE HATHAWAY HomeServices | Aspen Snowmass Properties)

Recent Estin Report tweets on Aspen Real Estate

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Disclaimer: The statements made in The Estin Report and on Aspen broker Tim Estin’s blog represent the opinions of the author and should not be relied upon exclusively to make real estate decisions. A potential buyer and/or seller is advised to make an independent investigation of the market and of each property before deciding to purchase or to sell. To the extent the statements made herein report facts or conclusions taken from other sources, the information is believed by the author to be reliable, however, the author makes no guarantee concerning the accuracy of the facts and conclusions reported herein. Information concerning particular real estate opportunities can be requested from Tim Estin at970.309.6163or byemail.The Estin Report is copyrighted 2017 and all rights reserved. Use is permitted subject to the following attribution with a live link to the source:“The Estin Reporton Aspen Real Estate.”

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