The Estin Report:May and YTD 2016 Aspen Snowmass Real Estate Market Snapshot was released June 7, 2016inCurrent Reports. The Monthly Snapshots are posted on or near the 1st Monday of the month. The June Market Snapshot will be posted late July 11, 16. The Estin Report: Q2 and 1st Half 2016State of the Aspen Market is in process …The executive summary was posted un Current Reports July 9, 2016. The full report with narrative, charts, tables photos shoild be posted around July 15-17th.

Excerpt from May Snapshot:

“Depending on the metrics one looks at, the Aspen market is off by about 50% year-to-date through May 31, 2016 over last year…Aspen’s most desirable locations, the West End and Red Mountain, have experienced little or no sales, and luxury sales of properties $10M and over, typically accounting for roughly 25-30% of total dollar sales, were 15% of the total market sales dollars in May 2016 YTD versus 27% in May 2015 YTD: $10M and over sales are down -64% in unit sales to (4) this year versus (11) last year and -71% in dollar sales to $48M in from $166M same time last year.”

See recent Before/After redevelopment‘flip job’ examplesin Miscellaneous Info at the bottom of the Menu Bar on the left. These are properties that have been recently or are currently in the process of redevelopment for re-sale. This post is updated (05/16/16) as additional re-sale properties come on the market at significantly higher prices.

_______________________

Market Activity Week 28, July 3 – 10, 2016

Aspen Snowmass real estate weekly sales and under contract activity appears below for all Aspen, Snowmass 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 (8):MLS#s 142998, 144035, 141233, 141395, 127952, 139584, 142336, 143187.This link is valid until 8/9/2016.

Under Contract/Pending (6):MLS#’s: 141974, 139496, 133031, 144417, 144418, 144683. This link is valid until 8/9/2016.

Aspen Snowmass Solds Last Week:

MLS #142998 – Townsite of Aspen, Central Core, 120 E Hyman Avenue, Aspen, CO. Sold Price: $5,500,000/$1,485 sq ft; furnished. More details below photos.
Aspen real estate 071016 142998 120 E Hyman Avenue 1 590WAspen real estate 071016 142998 120 E Hyman Avenue 2 590WAspen real estate 071016 142998 120 E Hyman Avenue 3 190HAspen real estate 071016 142998 120 E Hyman Avenue 4 190HAspen real estate 071016 142998 120 E Hyman Avenue 5 190HAspen real estate 071016 142998 120 E Hyman Avenue 6 190HAspen real estate 071016 142998 120 E Hyman Avenue 7 285WAspen real estate 071016 142998 120 E Hyman Avenue 8 285W
MLS #142998 – Townsite of Aspen, Central Core, 120 E Hyman Avenue, Aspen, CO. Sold Price: $5,500,000/$1,485 sq ft; furnished. Asking Price: $6,000,000. (Original Price: $6,000,000 and 82 days on the market since 03/08/2016.) This is a 1982 built, 5 bedroom/4 bath/2 3/4-bath, 3,702 sq ft duplex/half duplex with 3 car garage on a 4,500 sq ft lot. Broker comments are “2 Bl to Restaurant Row; 6 Bl to Gondola; 3 Parks in 3 Bl; South-facing, Vws of Aspen Mtn up Corkscrew; All Bdrms above/at grade, 3 Car Garage at Grade; 3 wood burng firepl; Lg top Fl Mstr Suite w/his & her baths + fireplace + vaulted ceilg, 4 Balconies total, new Landscpg, 800sf more than currently allowed FAR. Excellent Condition, Dated Interior, Great Remodel Potential; 698sf of total heated livable sq ft are attributable to 1 Bdrm/1 Bath EDU. Rental Restriction: 6 Mos or 2 Wks. Closing Date After 05/20/2016.” 2015 taxes: $10,755. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 04/25/2016; Sold Date: 06/30/2016. (Photos and broker comments courtesy of Cheryl L. Schmidt)

MLS #144035 – Townsite of Aspen, Central Core, 200 E Durant Avenue A, Aspen, CO. Sold Price: $5,100,000/$1,650 sq ft; unfurnished. More details below photos.
Aspen real estate 071016 144035 200 E Durant Avenue A 1 590WAspen real estate 071016 144035 200 E Durant Avenue A 2 590WAspen real estate 071016 144035 200 E Durant Avenue A 3 190HAspen real estate 071016 144035 200 E Durant Avenue A 4 190H
MLS #144035 – Townsite of Aspen, Central Core, 200 E Durant Avenue A, Aspen, CO. Sold Price: $5,100,000/$1,650 sq ft; unfurnished. Asking Price: $5,500,000. (Original Price: $5,500,000 and 49 days on the market since 05/13/2016.) This is a 1997 built, 4 bedroom/3 bath/1 half-bath, 3,090 sq ft townhouse with 2 car garage. Broker comments are “Rarely do Aspen in-town, townhomes become available for sale. This 3,090 square foot, handsome brick townhome is located on the corner of Durant and South Aspen Street featuring Aspen Mountain views. If convenience to Aspen Mountain, restaurants and downtown shopping are paramount for your buyer this is the property you have been waiting to come on the market. Entry level features two bedrooms, the master suite and a generous en-suite guest bedroom. The upper level is comprised of the south facing great room with a terrace and Aspen Mountain views, kitchen, pantry powder and north facing terrace. The lower levels include two additional bedrooms and a laundry room. There is also a two car garage. Enjoy as is or make it your own with a remodel. There is no substitute for this downtown location. Priced to sell.” 2015 taxes: $13,958; HOA Dues: $5,000 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 05/26/2016; Sold Date: 07/01/2016. (Photos and broker comments courtesy of Compass)

MLS #141233 – Galena Plaza Condos, Central Core, 426 E Main Street Units 1a,1b, 2a, 2b, 2c, Aspen, CO. Sold Price: $4,500,000 sq ft. More details below photos.
Aspen real estate 071016 141233 426 E Main Street Units 1a 1b 2a 1 590WAspen real estate 071016 141233 426 E Main Street Units 1a 1b 2a 2 190HAspen real estate 071016 141233 426 E Main Street Units 1a 1b 2a 3 190H
MLS #141233 – Galena Plaza Condos, Central Core, 426 E Main Street Units 1a,1b, 2a, 2b, 2c, Aspen, CO. Sold Price: $4,500,000 sq ft. Asking Price: $5,250,000. (Original Price: $5,250,000 and on/off on the market since 06/24/2009.) This is a 2009 built, 1-5 units, 4,500 sq ft commercial industria. Broker comments are “Fantastic opportunity to own commercial and employee housing in the downtown core of Aspen! Price includes a 907 square foot retail space, a 1,284 square foot office/retail space, and three ”Category 2” employee housing units (two with 2 bedrooms & 1 bath, and one studio with 1 bath) currently rented for a total of $3,050.35 per month. The location offers direct views of Aspen Mountain as well as tremendous visibility on Main Street. Walking distance to everything!” City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 04/06/2016; Sold Date: 07/05/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #141395 – West Aspen, Tbd Chatfield Road, Vacant lot sale, Aspen, CO. Sold Price: $4,500,000. More details below photo.
Aspen real estate 071016 141395 Tbd Chatfield Road 1 590W
MLS #141395 – West Aspen, Tbd Chatfield Road, vacant lot sale, Aspen, CO. Sold Price: $4,500,000. Asking Price: $4,550,000. (Original Price: $4,550,000 and 266 on the market since 10/08/2015.) This is a 17,412 sq ft vacant lot. Broker comments are “Unobstructed views of Independence Pass, Aspen Highlands, and Sopris Mnt located on the 1st and 2nd tee of the Aspen Golf Course. Build your dream home within minutes to Aspen Core. Allowable FAR for a single family home is 4,641 per Architect. Buyer shall confirm zoning and FAR with City of Aspen Department of Planning & Zoning.” 2014 taxes: $27,236. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/25/2016; Sold Date: 06/30/2016. (Photos and broker comments courtesy of Palladium Properties)

MLS #127952 – Aspen Highlands, West Aspen, 32 Prospector, Aspen, CO. Sold Price: $4,450,000/$689 sq ft; furnished. More details below photos.
Aspen real estate 071016 127952 32 Prospector 1 590WAspen real estate 071016 127952 32 Prospector 2 590WAspen real estate 071016 127952 32 Prospector 3 190HAspen real estate 071016 127952 32 Prospector 4 190HAspen real estate 071016 127952 32 Prospector 5 190HAspen real estate 071016 127952 32 Prospector 6 190H
MLS #127952 – Aspen Highlands, West Aspen, 32 Prospector, Aspen, CO. Sold Price: $4,450,000/$689 sq ft; furnished. Asking Price: $4,750,000. (Original Price: $4,995,000 and 2,131 days on the market since 06/16/2009.) This is a 2002 built, 5 bedroom/6 bath/1 half-bath, 6,458 sq ft townhome/half duplex with 2 car garage. Broker comments are “This is the most convenient location at Aspen Highlands; ski-in/ski-out, and just steps to the spa, pool, fitness center, and restaurant at the Ritz Carlton. With 6,458 square feet of luxury, 5 over-sized bedrooms, and beds for 18 there is room for extended family or large groups of friends. Designer furnishings, elevator, and media room with billiard table and wet bar, all for $736/square foot make this property a real value.” 2014 taxes: $19,323; HOA Dues: $7,017 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/16/2016; Sold Date: 07/01/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #139584 – Chateau Eau Claire, Central Core, 1034 Cooper Ave 14-A, Aspen, CO. Sold Price: $1,612,500/$1,670 sq ft; unfurnished. More details below photos.
Aspen real estate 071016 139584 1034 Cooper Ave 14 A 1 590WAspen real estate 071016 139584 1034 Cooper Ave 14 A 2 590WAspen real estate 071016 139584 1034 Cooper Ave 14 A 3 190HAspen real estate 071016 139584 1034 Cooper Ave 14 A 4 190HAspen real estate 071016 139584 1034 Cooper Ave 14 A 5 285WAspen real estate 071016 139584 1034 Cooper Ave 14 A 6 285W
MLS #139584 – Chateau Eau Claire, Central Core, 1034 Cooper Ave 14-A, Aspen, CO. Sold Price: $1,612,500/$1,670 sq ft; unfurnished. Asking Price: $1,695,000. (Original Price: $1,895,000 and 357 days on the market since 06/15/2015.) This is a 1971 built and 2015 remodeled, 2 bedroom/2 bath, 965 sq ft condo. Broker comments are “”The River Loft” at the Chateau Eau Claire has been completely renovated. It features 2 bedroom/2 baths with views of Aspen Mountain. Enjoy relaxing on your private deck overlooking the roaring Fork river. The open floor plan and new stunning kitchen make entertaining perfect. Plenty of storage, elevator and parking make this the ultimate condo in Aspen. Hot tub and extra park to rear of unit with bike racks and also ski lockers” 2015 taxes: $2,587; HOA Dues: $3,380 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 06/06/2016; Sold Date: 07/01/2016. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)

MLS #142336 – Smuggler Park, Smuggler Mobile Park, 117 Maple Lane, Aspen, CO. Sold Price: $460,000/$575 sq ft; unfurnished. More details below photos.

Aspen real estate 071016 142336 117 Maple Lane 1 590WAspen real estate 071016 142336 117 Maple Lane 2 190HAspen real estate 071016 142336 117 Maple Lane 3 190H
MLS #142336 – Smuggler Park, Smuggler Mobile Park, 117 Maple Lane, Aspen, CO. Sold Price: $460,000/$575 sq ft; unfurnished. Asking Price: $495,000. (Original Price: $525,000 and 1,269 days on the market since 06/12/2012.) This is a 1968 built, 800 sq ft mobile home on a 2,745 sq ft lot. Broker comments are “BEST BUY IN SMUGGLER PARK! Excellent redevelopment opportunity for a qualified buyer. One can build approx. 2600 sq. feet, house plans included. Smuggler Park is a wonderful place to live and raise a family in the Aspen School District with convenient bus service, views straight up Aspen Mtn, easy access to the best hiking, biking and skiing Aspen has to offer. Smuggler Park’s low HOA dues now include Comcast Internet. This Lot must be purchased as a Primary residence and Buyer must be qualified by APCHA.” 2015 taxes: $1,201; HOA Dues: $200 per Month. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 06/18/2016; Sold Date: 07/08/2016. (Photos and broker comments courtesy of Lightfoot Real Estate)

MLS #143187 – Lazy Glen Mobile Park, 12 Lazy Glen, Snowmass, CO: Sold Price: $365,000/$238 sq ft; unfurnished. More details below photos.

Aspen real estate 071016 143187 12 Lazy Glen 1 590WAspen real estate 071016 143187 12 Lazy Glen 2 590WAspen real estate 071016 143187 12 Lazy Glen 3 190HAspen real estate 071016 143187 12 Lazy Glen 4 190H
MLS #143187 – Lazy Glen Mobile Park, 12 Lazy Glen, Snowmass, CO: Sold Price: $365,000/$238 sq ft; unfurnished. Asking Price: $395,000. (Original Price: $395,000 and 129 days on the market since 02/29/2016.) This is a 2002 built, 3 bedroom/2 bath, 1,528 sq ft single family residence on a 4,731 sq ft lot. Broker comments are “Great opportunity to live in Lazy Glen! Easy Hwy 82 access, close to Basalt and Aspen. Exceptional lot fronts the river. New laminate flooring, paint. Open plan living space. Hot tub. New hot tub cover and $5000 carpet allowance with full price offer.” 2015 Taxes: $1,881; HOA Dues: $150 per Month. Under Contract Date: 04/15/2016; Sold Date: 07/05/2016. (Photos and broker comments courtesy of Cheryl&Co. Real Estate, LLC)

Tim Estin welcomes your business, inquiries and comments. Call him at970.309.6163or email him from theContact Page. Subscribe to The Estin Report and blog on twitter@EstinAspenby clicking “Join the conversation” button below or click one of the different subscription options in banner at the top of page:

Recent Estin Report tweets on Aspen Real Estate

{loadposition articlepos}

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 2016 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.”

_______________________________________