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.
Excerpt:
“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.
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Market Activity Week 24, June 12 – 19, 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 141139, 138221, 142090, 140192, 143480, 142118, 133494, 130581.This link is valid until 7/20/2016.
Under Contract/Pending (6):MLS#’s: 136132, 139851, 137403, 142655, 144463, 144565. This link is valid until 7/20/2016.
Aspen Snowmass Solds Last Week:
MLS #141139 – Eagle Pines, West Aspen, 200 Eagle Pines Drive, Aspen, CO. Sold Price: $12,100,000/$1,307 sq ft; unfurnished. More details below photos.
MLS #141139 – Eagle Pines, West Aspen, 200 Eagle Pines Drive, Aspen, CO. Sold Price: $12,100,000/$1,307 sq ft; unfurnished. Asking Price: $12,995,000. (Original Price: $12,995,000 and 261 days on the market since 09/28/2015.) This is a 2004 built and 2012 remodeled, 7 bedroom/7 bath/3 half-bath, 9,255 sq ft single family residence on a 5,5 acre or 239,580 sq ft lot. Broker comments are “One of my favorite homes” is not an exaggeration! A perfect blend of contemporary, traditional and indoor/outdoor living with absolutely no sub-grade space! Located in the Eagle Pines subdivision just 10 minutes to downtown Aspen, this luxury home has 9,255 square feet of heated living area, 7 bedrooms, 7 full baths, 3 half baths, abundant outdoor entertaining areas surrounded by manicured lawns and beautiful gardens, ski access to Buttermilk Mountain, and an 817 square foot three car garage. In addition to privacy and views, the fabulous floor plan features a thoughtful design where every room is warm and inviting with a timeless elegance. Designed by Galambos Architects and built by Brikor Construction as a custom end-user primary residence.” 2015 taxes: $29,780; HOA Dues: $1,000 per Qtr. Under Contract Date: 04/29/2016; Sold Date: 06/15/2016. (Photos and broker comments cousrtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #138221 – Jerome Proffessional (Commercial/Office), Central Core, 201 N Mill Street Unit 301, Aspen, CO. Sold Price: $1,200,000/$1,528 sq ft. More details below photos
MLS #138221 – Jerome Proffessional (Commercial/Office), Central Core, 201 N Mill Street Unit 301, Aspen, CO. Sold Price: $1,200,000 sq ft. Asking Price: $1,200,000/$1,526 sq ft. (Original Price: $960,000 and on/off on the market since 04/02/2015.) This is a 2015 built, 786 sq ft commercial /office on a 12,000 sq ft lot. Broker comments are “The Mill Building is being built to the highest standards in Aspen and will feature only 4 commercial/office spaces. Have exposure to the Mill St. corridor. Your customers can walk in right off of the sidewalk. This unit could be combined with unit #201 directly below it. See photos and attachments for plan. Come be a part of the finest new building in Aspen at the most reasonable rental rates going. Parking available but not included.” HOA Dues: $5 per Month. Under Contract Date: 04/11/2016; Sold Date: 06/10/2016. (Photos and broker comments cousrtesy of Tru Real Estate)
MLS #142090 – Winfield Arms Condos, Central Core, 119 E Cooper Avenue 17, Aspen, CO. Sold Price: $490,000/$1,555 sq ft; furnished. More details below photos.
MLS #142090 – Winfield Arms Condos, Central Core, 119 E Cooper Avenue 17, Aspen, CO. Sold Price: $490,000/$1,555 sq ft; furnished. Asking Price: $499,000. (Original Price: $539,000 and 396 days on the market since 09/16/2014.) This is a 1969 built and 2015 remodeled, 1 bath, 315 sq ft condo. Broker comments are “Settle in with a hot toddy after a day of skiing in this cozy, sophisticated mountain studio. This jewel box is warm and inviting… with reclaimed barn wood walls, plush Balentine carpeting, Restoration Hardware bureaus and an 85” flat-screen TV. Soak in the bathtub surrounded with Carrara marble before going out to hit the hotspots of Aspen… all within walking distance. Always immaculate, The Winfield Arms offers incredibly low dues that include cable, electricity and heat. With amenities of extra storage, jacuzzi hot tub, pet friendliness and an easy walk to the gondola, this property offers the best in convenience. Add to that a private, underground, parking space in a heated garage and you’ve got it all!” 2014 taxes: $770; HOA Dues: $340 per Month. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 06/02/2016; Sold Date: 06/13/2016. (Photos and broker comments cousrtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #140192 – Mountain River Manor Condos, Central Core, 900 E Hopkins Avenue 7, Aspen, CO. Sold Price: $361,000/$1,303 sq ft; furnished. More details below photos.
MLS #140192 – Mountain River Manor Condos, Central Core, 900 E Hopkins Avenue 7, Aspen, CO. Sold Price: $361,000/$1,303 sq ft; furnished. Asking Price: $365,000. (Original Price: $395,000 and 330 days on the market since 07/21/2015.) This is a 1972 built, 1 bath, 277 sq ft condo. Broker comments are “Walk everywhere from this central core studio. Enjoy the view and sounds of the Roaring Fork River and views of Red Mountain from inside the unit. Common areas include a beautiful back yard and a large heated common area with a separate assigned 40sf storage unit (6′-7”x 6′-2”) on the lower level. Built-in Murphy bed. Assigned parking for owner occupants. Assigned parking on lottery basis for non-owner occupants. Low dues with all utilities, cable and internet included. Rentals are restricted to minimum terms of 6 months with no more that two shorter tenancies per year. No Pets.” 2015 taxes: $736; HOA Dues: $1,000 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 04/16/2016; Sold Date: 06/15/2016. (Photos and broker comments cousrtesy of Setterfield & Bright)
MLS #143480 – Samuelson Sub, 50 Mountain Shadow Way, Old Snowmass, CO: Sold Price: $1,025,000/$265 sq ft; unfurnished. More details below photos.
MLS #143480 – Samuelson Sub, 50 Mountain Shadow Way, Old Snowmass, CO: Sold Price: $1,025,000/$265 sq ft; unfurnished. Asking Price: $1,150,000. (Original Price: $1,150,000 and 931 days on the market since 03/05/2012.) This is a 2005 built, 4 bedroom/3 bath/1 half-bath, 3,855 sq ft single family residence with 2 car garage on a 52,272 sq ft lot. Broker comments are “Gorgeous Custom home located on 1+ acre with pond, a stone firepit and gorgeous mountain views. This home features a two sided wood burning fireplace that opens onto the Great Room and also the informal living area & kitchen. The floorplan allows for mostly one level living with the master and 2 bedrooms on the main level. Upstairs you will find an open air loft ideally suited for a office space or extra sleep area. Plus there is a family room/bedroom and bath on the lower level. The Kitchen is spacious and welcoming with a large island perfect for entertaining and family dinners. The living spaces are inviting with French doors opening onto the patio areas. The Master Bedroom features a cozy sitting area next to the gas fireplace. Located just 2 minutes from the Roaring Fork Club.” Directions: From Basalt take Highway 82 towards Aspen. Go past Holland Hills & Hoagland Ranch. After passing under Pedestrian Bike Bridge – take a left on Mountain Shadow Way. 1st house on right. 2015 Taxes: $7,954; HOA Dues: $100 per Yr. Under Contract Date: 04/30/2016; Sold Date: 06/14/2016. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
MLS #142118 – Vacant Lot, 30603 Hwy 82, Snowmass, CO: Sold Price: $560,000. More details below photos.
MLS #142118 – Vacant lot, 30603 Hwy 82, Snowmass, CO: Sold Price: $560,000. Asking Price: $700,000. (Original Price: $770,000 and 2,500 days on the market since 03/03/2009.) This is a 8.8 acre or 386,813 sq ft vacant lot. Broker comments are “Amazing opportunity to build your dream home in the Aspen School District. Enjoy the tranquility and access of the Roaring Fork River from this lot. The parcel is zoned AR-10 which allows for a 5,750 square foot home plus 1,160 square foot non-dwelling outbuilding. Water augmentation plan is in place for irrigation and a pond.” Directions: Located on the Roaring Fork River off of Highway 82, perpendicular to Watsons Divide Rd.2015 Taxes: $5,481. Under Contract Date: 05/11/2016; Sold Date: 06/17/2016. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-SMV)
MLS #133494 – Pines at Owl Creek, 680 Pine Crest Drive, Snowmass Village, CO: Sold Price: $6,425,000/$1,099 sq ft; furnished. More details below photos.
MLS #133494 – Pines at Owl Creek, 680 Pine Crest Drive, Snowmass Village, CO: Sold Price: $6,425,000/$1,099 sq ft; furnished. Asking Price: $6,950,000. (Original Price: $7,750,000 and 836 days on the market since 03/04/2014.) This is a 2000 built and 2007 remodeled, 5 bedroom/5 bath/1 half-bath, 5,845 sq ft single family residence with 2 car garage on a 5,845 sq ft lot. Broker comments are “Enjoy the perfect mountain retreat with direct ski in/ski out (click in/click out) right to the house and with the best views of any home in the Pines. The home faces south for all day sun and dead-on views of High Alpine and the Cirque Headwall ski areas of Snowmass Mt. This home abuts National Forest with miles of some of the best wilderness nature hiking, biking, and cross country skiing out your back door. The home offers an open floor plan with vaulted ceiling for a sense of spaciousness yet well proportioned to feel warm and cozy. Snuggle up in front of the large fireplace on those cold winter evenings or relax your tired muscles in the sauna or outdoor hot tub.” Directions: Owl Creek Rd to Pine Crest Drive, house is on the left side of the road. 2015 Taxes: $27,067; HOA Dues: $5,700 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 04/26/2016; Sold Date: 06/17/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Snowmass Village)
MLS #130581 – Wood Run, 851 Wood Road, Snowmass Village, CO: Sold Price: $5,200,000/$1,115 sq ft; furnished. More details below photos.
MLS #130581 – Wood Run, 851 Wood Road, Snowmass Village, CO: Sold Price: $5,200,000/$1,115 sq ft; furnished. Asking Price: $5,500,000. (Original Price: $5,500,000 and 1,180 days on the market since 12/14/2012.) This is a 2003 built, 5 bedroom/5 bath/1 half-bath, 4,661 sq ft single family residence with 3 car garage on a 48,352 sq ft lot. Broker comments are “From the moment you drive up to this spectacular, custom built home, you will notice all the fine detail and attention that was put into it’s design and finishes. Beautiful massive log columns with timber siding and copper flashing. Incredible stone work with detailed relief. Gracious outdoor spaces which includes a covered stone porch, built-in fire pit and hot tub. Once inside, take notice of all the custom wood work, limestone fireplace, leather trim doors and the finest of finishes. Another great feature of this mountain home, one floor living. Great views and less than 2 minutes to Base Village. You will not find a home of this quality and location at this price anywhere in Snowmass—a true must see!” Directions: From brush creek road, turn left onto Wood Road. Home is just past the Wood Run V townhomes, entry on your right, first driveway on right.2015 Taxes: $14,539; HOA Dues: $90 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 05/01/2016; Sold Date: 06/15/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Snowmass Village)
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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 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.”
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