Note:The Estin Report will publish 2Q2009 Aspen and Snowmass Village – State of the Real Estate Market (April 1 – June 30, 09) by mid-week of July 6th. For the recently released (6/30/09) Land Title Guarantee Pitkin County Real Estate Market Summary for May ’09, go to the Aspen Real Estate Archives section, market statistics – here.

Market Activity Last Week:
This past week saw a remarkable concentration of official events in Aspen that seemed to rule out much actual real estate business. The events were:

  • 2009 Food & Wine Classic (5,000 participants)

  • Jazz Aspen week long series of concerts at Benedict Tent/Aspen Music Festival (participants 2-3,000)

  • Ride the Rockies (a Colorado biking event with 2,500 riders coming through Aspen last weekend.

There was so much going on that there were few actual property showings. Prospective buyers were just too busy. Still, there was some paper crossing desks. Here’s the Aspen and Snowmass Village real estate market summary for last week.

Under Contract/Pending (3): 105068, 105246,111287 (link valid until 7/28/09)

  • MLS # 105068 – 802 E. Cooper #2, Original St Condos. Ask Price: $820,000 (-18% off Original Price $995,000). 2 bdrm/2Ba, 728 sq. ft. condo in the Aspen Core. 402 days on the market.
  • MLS # 111287 – Lot Sale: 1245 Mountain View Dr off Cemetery Lane. Ask Price: $4,400,000. This is an approx. 1/2 acre lot with tear down house on it in a residential subdivision setting backing up against Red Butte Cemetery. This has been on the market for 44 days and I’m amazed it’s under contract with an ask price at $4.4M. I look forward to seeing the sold price which I would guess will be in high $2M’s or low $3M’s. But I have been suprised before and it certainly could happen again. The buyer could be in-laws buying the adjacent property next to their children with new-born grandchildren.
  • MLS # 105246 – 1500 Tiehack Rd, Skyview Subdivision within the Maroon Creek Club. Ask/Original Price: $15,500,000. This is a beautiful Richard Wax built 2008 home with 6 Bdrm/6 Ba, 11, 827 sq. ft with 3-car garage.Days on the market 391. This is one of only a handful of homes over $15M since Oct 2008 to be sold.

Closed/Sold (2): 110930, 109816 (link valid until 7/28/09)

  • MLS # 110930 – Residences at Little Nell unit. Ask Price: $1,000,000. (-9% off Original Price of $1,100,000.). This is a 3 bedroom/ 3 bath, 2800 sq ft fractional unit at the base of the Aspen Mountian Gondola. It’s been on the market for 48 days.
  • MLS # 109816 – 75 Bluebonnet, Meadowood Subdivision. Ask Price: $4,250,000; Sold Price: $3,550,000/$1,171 sq ft (-41% off Original Price $5,990,000 in December 2007).This is a 1989 single family home with 4 bdrms/4 baths, 3030 sq. ft., on 1/2 acre lot in Meadowood Subdivision known for its open spaces, adjacent proximity to Aspen schools, Aspen Recreation Center (ARC) and its closeness to the town of Aspen, 1.5 miles.