The Feb 2017 Aspen Snowmass Real Estate Monthly Market Snapshot was posted in Current Reportson March 6th. The Monthly Snapshots are usually posted on or near the 1st Monday of the month. The Q4 and Year 2016 report will be released soon.

An article appeared in the Denver Post Sunday Feb 26th on Colorado Mountain resort real estate including Aspen and Pitkin County.

Bottom Line Feb 2017 Excerpt:

“For year-to-date (YTD), Jan 1 through Feb 28, 2017, the total combined Aspen Snowmass Village market is up 19% in dollar sales to $139M from $117M same time last year and no change in unit sales with (43) in 2017 versus (43) last year.

The number of under contract properties for the combined Aspen Snowmass Village market is up 52% to (35) in Feb 2017 versus (23) same time last year.

Under Contracts are used as an indicator of future activity when compared to the prior year.”

New Charts: Historic Pace of Aspen and Snowmass Village Homes, Condos and Vacant Land / Lots by Dollar Sales and Unit Sales

These new charts were posted inCurrent Reportson 02/15/17.They are: the historic pace of dollar and unit sales since 2006 with trend lines for Aspen and Snowmass Village (SMV) separately by: 1) all properties combined; 2) single family homes; 3) condos; 4) vacant land / lots. (Fractionals, with the exception of extreme sales, are not included.)

Sales velocity, or pace, whether by dollar volume or unit sales is extremely useful to consider ss the unit sales drop-off in the 2nd Half 2007 so foreshadowed the Great Recession.

While many real estate professionals use dollar volume sales as the single metric for sales performance (it often looks ‘better’), unit sales are a more reliable measure of market activity. Dollar sales can be skewed disproportionately by extreme high or low end priced sales.

Clients often ask, “Where are we now compared to the Great Recession…?”. These charts offer a solid reference for that conversation. In this instance, the starting point for the trend line is 2006, but, of course, where the trend line commences will affect its outcome…If the charts had started at 2009, the trend would be more upwards at present than is shown here.

As this is written, post-election Nov 2016 through Feb 15, 2017, sales have picked up considerably and are decidedly on an upward trajectory.

021517 Estin Report Aspen Real Estate Historic All Properties Unit Sales 590w96res

Click chart to see additional breakdown chartsfor Aspen and SMV by property types.

“Flip Job” Examples: See recent Before/After redevelopmentin the new Flip Jobs Sectionnear 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 (01/04/17) as additional re-sale properties come on the market at significantly higher prices.

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Market Activity Week 12, March 19 – 26, 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 (10):MLS#s 137490, 139448, 142825, 144023, 144130, 146047, 146627, 147013, 147478, 147577.This link is valid until 4/25/2017.

Under Contract/Pending (13):MLS#s 142133, 141563, 139230, 139928, 144011, 146584, 146743, 147293, 147581, 147653, 147748, 147784, 147902.This link is valid until 4/25/2017.

Aspen Snowmass Solds Last Week:

 

MLS #144023 – North Nell, Central Core, 555 E Durant Avenue C1-A,C1-B,C1-C,C1-D,C1-E, Aspen, CO. Sold Price: $6,325,000 sq ft. More details below photos.
Aspen real estate 032617 144023 555 E Durant Avenue C1 A C1 B C1 C C1 D C1 E 1 590WAspen real estate 032617 144023 555 E Durant Avenue C1 A C1 B C1 C C1 D C1 E 2 590WAspen real estate 032617 144023 555 E Durant Avenue C1 A C1 B C1 C C1 D C1 E 3 190HAspen real estate 032617 144023 555 E Durant Avenue C1 A C1 B C1 C C1 D C1 E 4 190H
MLS #144023 – North of Nell Bldg, Central Core, 555 E Durant Avenue C1-A,C1-B,C1-C,C1-D,C1-E, Aspen, CO. Sold Price: $6,325,000 sq ft. Aspen commercial industria for sale. Ask Price: $6,750,000. (Original Price: $7,400,000 and 282 days on the market since 05/12/2016.) This is a 1968 built, 1-5 units, 3,217 sq ft commercial space on a 11,250 sq ft lot. Broker comments are “North of Nell Commercial units C-1A, C-1B, C-1C, C-1D and C1-E are currently leased by Starbucks and Aspen Sports at the base of Aspen Mountain..” 2015 taxes: $49,142; HOA Dues: $28,019 per Yr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 12/21/2016; Sold Date: 03/24/2017. (Photos and broker comments courtesy of Raczak Real Estate CO Inc.)
MLS #146627 – Maroon Creek Townhome, West Aspen, 204 Oregon Trail, Aspen, CO. Sold Price: $4,975,000/$1,073 sq ft; partial-furnished. More details below photos.
Aspen real estate 032617 146627 204 Oregon Trail 1 590WAspen real estate 032617 146627 204 Oregon Trail 2 590WAspen real estate 032617 146627 204 Oregon Trail 3 190HAspen real estate 032617 146627 204 Oregon Trail 4 190HAspen real estate 032617 146627 204 Oregon Trail 5 190HAspen real estate 032617 146627 204 Oregon Trail 6 190H
MLS #146627 – Maroon Creek Townhome, West Aspen, 204 Oregon Trail, Aspen, CO. Sold Price: $4,975,000/$1,073 sq ft; partial-furnished. Aspen townhouse for sale. Ask Price: $5,300,000. (Original Price: $5,500,000 and 395 days on the market since 02/23/2016.) This is a 1998 built and 2016 remodeled, 4 bedroom/4 bath/2 half-bath, 4,633 sq ft townhouse with 2 car garage. Broker comments are “Grand and spacious Maroon Creek Town home with ski access to Tiehack lift. With over 4600 square feet this very recently remodeled town home features: 4 bedrooms, a majestic entrance with a dramatic stairwell, a grand living and dining room area. The gourmet kitchen is a chefs dream with a separate prep kitchen. The master bedroom is spacious as well as the master bath. The master bedroom opens to a large and private patio area that offers a great outdoor entertaining area and includes a spectacular water feature. Close proximity to Aspen’s night life, the Maroon Creek Club, golf and tennis makes this a true value in the Aspen market.” 2016 taxes: $12,182; HOA Dues: $18,000 per Yr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/23/2017; Sold Date: 03/21/2017. (Photos and broker comments courtesy of Douglas Elliman Real Estate-SMV)
MLS #147013 – West Aspen, 1152 Cemetery Lane, Aspen, CO. Sold Price: $4,350,000/$1,254 sq ft; furnished. More details below photos.
Aspen real estate 032617 147013 1152 Cemetery Lane 1 590WAspen real estate 032617 147013 1152 Cemetery Lane 2 590WAspen real estate 032617 147013 1152 Cemetery Lane 3 190HAspen real estate 032617 147013 1152 Cemetery Lane 4 190HAspen real estate 032617 147013 1152 Cemetery Lane 5 190HAspen real estate 032617 147013 1152 Cemetery Lane 6 190H
MLS #147013 – West Aspen, 1152 Cemetery Lane, Aspen, CO. Sold Price: $4,350,000/$1,254 sq ft; furnished. Aspen duplex/half-duplex for sale. Ask Price: $4,495,000. (Original Price: $4,495,000 and 93 days on the market since 12/19/2016.) This is a 2013 built, 4 bedroom/4 bath/1 half-bath, 3,468 sq ft duplex/half-duplex with 2 car garage. Broker comments are “Perched above Red Butte as the last house on Cemetery Lane, views of the Roaring Fork River, Red Mountain and beyond are framed by strategically placed windows to capture the incredible surroundings. Appointed with classic contemporary finishes of white oak, Carrera marble and stacked stone blended with custom lighting and furnishings, the clean lines and inviting living spaces lend an air of sophistication and style to this three level duplex. With an entry level master, all of the gathering spaces are just one level away. The open kitchen and expansive great room comprise the upper level with an exceptional patio space for comfortable outdoor living, while the lower level with 3 guest suites, none of which are below grade, share a central sitting/media room. Enhanced with the latest Lutron and Control 4 technology, all lights, entertainment and environment are conveniently automated. The highly desirable West Aspen location is just steps from the Roaring Fork River and Rio Grande Trail with easy access to town and all ski areas via the Cemetery Lane bus route.” 2016 taxes: $10,053. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/09/2017; Sold Date: 03/22/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #147577 – Part of Actress Melanie Griffith estate sells in Castle Creek, West Aspen, 88 Lower Hurricane Road (Back of Aspen Mountain), Aspen, CO. Sold Price: $2,240,000/$2,041 sq ft; furnished. More details below photos.
Aspen real estate 032617 147577 88 Lower Hurricane Road 1 590WAspen real estate 032617 147577 88 Lower Hurricane Road 2 590WAspen real estate 032617 147577 88 Lower Hurricane Road 3 190HAspen real estate 032617 147577 88 Lower Hurricane Road 4 190HAspen real estate 032617 147577 88 Lower Hurricane Road 5 190HAspen real estate 032617 147577 88 Lower Hurricane Road 6 190H
MLS #147577 – Part of Actress Melanie Griffith estate sells in Castle Creek, West Aspen, 88 Lower Hurricane Road, (Back of Aspen Mountain) Aspen, CO. Sold Price: $2,240,000/$2,041 sq ft; furnished. Aspen single family residence / cabin for sale. Ask Price: $2,240,000. (Original Price: $2,240,000 and 39 days on the market since 02/12/2017.) This is a 1997 built, 2 bedroom/2 bath, 1,097 sq ft single family residence on a 10.3 acres lot. Broker comments are “Come enjoy this mountain retreat located in the national forest on the backside of Aspen Mountain with breathtaking views. These two remarkable cabins which are part of a larger compound are now being offered for sale separately and can be purchased without the main house. Located where rustic wilderness meets modern comfort, this luxurious cabin setup has a gourmet kitchen, large open living space, fireplace with pizza oven and a patio with unbelievable views. Both cabins have one bed and one bath. This property is just steps from endless outdoor activities. Enjoy the wildlife, back country skiing, biking, horseback riding, hiking, snowshoeing, snowmobiling, 4 wheeling, hunting or just relaxing.” 2016 taxes: $3,886. Under Contract Date: 02/21/2017; Sold Date: 03/23/2017. (Photos and broker comments courtesy of Aspen Associates Realty)
MLS #144130 – Gant, Central Core, 610 S West End Street J203, Aspen, CO. Sold Price: $950,000/$959 sq ft; furnished. More details below photos.
Aspen real estate 032617 144130 610 S West End Street J203 1 590WAspen real estate 032617 144130 610 S West End Street J203 2 590WAspen real estate 032617 144130 610 S West End Street J203 3 190HAspen real estate 032617 144130 610 S West End Street J203 4 190HAspen real estate 032617 144130 610 S West End Street J203 5 190HAspen real estate 032617 144130 610 S West End Street J203 6 190H
MLS #144130 – Gant, Central Core, 610 S West End Street J203, Aspen, CO. Sold Price: $950,000/$959 sq ft; furnished. Aspen condo for sale. Ask Price: $1,095,000. (Original Price: $1,259,000 and 307 days on the market since 05/18/2016.) This is a 1972 built and 2006 remodeled, 2 bedroom/2 bath, 990 sq ft condo. Broker comments are “Premier Aspen location…charming, well appointed two bedroom Gant condominium. The perfect mountain retreat whether you want to get away from it all or take a short walk to downtown Aspen for world-class dining, shopping, skiing and nightlife. Wonderful location off Ute Ave. with access to the East Aspen walking and biking path that takes you by Northstar Preserve. Enjoy the views of Aspen Mountain from your living room and private deck. Take advantage of all the Gant’s amenities – pools, hot tubs, tennis courts and clubhouse with fitness center – all just steps from your door. Exceptional on-site management company and a new conference center with café provide an added opportunity to generate rental income (if desired).” 2016 taxes: $2,738; HOA Dues: $24,290 per Yr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/06/2017; Sold Date: 03/21/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Snowmass Village)
MLS #146047 – Alpenblick, Central Core, 631 S Galena Street 12, Aspen, CO. Sold Price: $733,500/$1,348 sq ft; furnished. More details below photos.
Aspen real estate 032617 146047 631 S Galena Street 12 1 590WAspen real estate 032617 146047 631 S Galena Street 12 2 590WAspen real estate 032617 146047 631 S Galena Street 12 3 190HAspen real estate 032617 146047 631 S Galena Street 12 4 190HAspen real estate 032617 146047 631 S Galena Street 12 5 190HAspen real estate 032617 146047 631 S Galena Street 12 6 190H
MLS #146047 – Alpenblick, Central Core, 631 S Galena Street 12, Aspen, CO. Sold Price: $733,500/$1,348 sq ft; furnished. Aspen condo for sale. Ask Price: $747,000. (Original Price: $747,000 and 187 days on the market since 09/15/2016.) This is a 1965 built and 2014 remodeled, 1 bedroom/1 3/4-bath, 544 sq ft condo. Broker comments are “This chic, contemporary 1 bed / 1 bath garden level condominium was designed to use every inch of space to maximize comfort and livability. Less than two blocks to central core.” 2016 taxes: $1,823; HOA Dues: $1,851 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 02/04/2017; Sold Date: 03/21/2017. (Photos and broker comments courtesy of Berkshire Hathaway HomeServices | Aspen Snowmass Properties)
MLS #137490 – Woody Creek, 7950 Upper River Road, Woody Creek, CO. Sold Price: $3,700,000/$643 sq ft; unfurnished. More details below photos.
Aspen real estate 032617 137490 7950 Upper River Road 1 590WAspen real estate 032617 137490 7950 Upper River Road 2 590WAspen real estate 032617 137490 7950 Upper River Road 3 190HAspen real estate 032617 137490 7950 Upper River Road 4 190HAspen real estate 032617 137490 7950 Upper River Road 5 190HAspen real estate 032617 137490 7950 Upper River Road 6 190H
MLS #137490 – Woody Creek, 7950 Upper River Road, Woody Creek, CO. Sold Price: $3,700,000/$643 sq ft; unfurnished. Woody Creek single family residence for sale. Ask Price: $4,200,000. (Original Price: $5,700,000 and 777 days on the market since 02/03/2015.) This is a 2009 built, 4 bedroom/3 bath/2 half-bath, 5,749 sq ft single family residence with 3 car garage on a 2.75 acres lot. This is the deal of 2017 so far.The very beautiful home with horse barn and art studio is negatively impacted by its proximity and lack of privacy to Woody Creek Rd near the Woody Creek Tavern. Still. it’s a charming small 2.5 acre gentleman’s ranchette. Broker comments are “Create the mountain compound of your dreams in eclectic Woody Creek, Colorado at the Woody Creek Estate. Set with views of all 4 Aspen ski mountains, this rare 2.75-acre compound, within the coveted Aspen School District, offers over 5,600 sq ft between the main residence, artists studio and barn for enjoyment or expansion. No expense was spared to outfit this cool Colorado homestead in top-tier materials including Colorado Buff sandstone floors, Alder wood ceilings and Pennsylvania Lilac stone. Enjoy magnificent Rocky Mountain sunsets on the generous alfresco living room with fireplace and outdoor kitchen. Easily remove or convert the equestrian facilities to create a welcoming guest retreat or build upon the intricate landscaping to include a tranquil pond. Idyllic Colorado weather, endless recreation and peaceful privacy combine at Woody Creek Estate.” 2015 taxes: $6,017. Under Contract Date: 01/20/2017; Sold Date: 03/20/2017. (Photos and broker comments courtesy of Compass)
MLS #147478 – 69 Lazy Glen, Snowmass, CO: Sold Price: $375,000/$208 sq ft; unfurnished. More details below photos.
Aspen real estate 032617 147478 69 Lazy Glen 1 590WAspen real estate 032617 147478 69 Lazy Glen 2 590WAspen real estate 032617 147478 69 Lazy Glen 3 190HAspen real estate 032617 147478 69 Lazy Glen 4 190HAspen real estate 032617 147478 69 Lazy Glen 5 190HAspen real estate 032617 147478 69 Lazy Glen 6 190H
MLS #147478 – Mobile Home Park, 69 Lazy Glen, Snowmass, CO: Sold Price: $375,000/$208 sq ft; unfurnished.Snowmass single family residence for sale. Ask Price: $375,000. (Original Price: $375,000 and 51 days on the market since 02/01/2017.) This is a 2004 built, 3 bedroom/3 bath, 1,800 sq ft single family residence on a 5,666 sq ft lot. Broker comments are “Lovely Lazy Glen Home + Land. This 1,800 sf, 3 bedroom,3 bath home sits on a 5,666 sf fenced lot. The open concept floor plan has abundant natural light & spacious, entertaining-friendly quarters. Vaulted ceilings throughout & large windows only add to the ambiance. The gourmet kitchen features a large center island, & a counter seating area. Luxurious master suite features spa like bath & walk-in closet. Exterior is complete with fenced yard for dogs, covered porch & storage shed. Located on the bus route. Close to Basalt & only about 25 min. from Aspen. Deed Restricted to Resident Occupied (RO) by Aspen Pitkin County Housing Authority (APCHA). Buyer must work a min. of 1500 hrs/yr. in the Roaring Fork Valley (Aspen to Glenwood). Must be owner occupied. There is no sale price restriction.” 2016 Taxes: $1,875; HOA Dues: $150 per Month. Under Contract Date: 02/28/2017; Sold Date: 03/24/2017. (Photos and broker comments courtesy of Janet Mitchell & Co)
MLS #142825 – Chamonix, 476 Wood Road, Snowmass Village, CO: Sold Price: $2,900,000/$898 sq ft; furnished. More details below photos.
Aspen real estate 032617 142825 476 Wood Road 1 590WAspen real estate 032617 142825 476 Wood Road 2 590WAspen real estate 032617 142825 476 Wood Road 3 190HAspen real estate 032617 142825 476 Wood Road 4 190HAspen real estate 032617 142825 476 Wood Road 5 190HAspen real estate 032617 142825 476 Wood Road 6 190H
MLS #142825 – Chamonix, 476 Wood Road, Snowmass Village, CO: Sold Price: $2,900,000/$898 sq ft; furnished. Snowmass Village condo for sale. Ask Price: $3,000,000. (Original Price: $3,300,000 and 387 days on the market since 02/24/2016.) This is a 1985 built, 4 bedroom/4 bath/1 half-bath, 3,227 sq ft condo. Broker comments are “Location, location, location and SIZE! 3,227 square feet on one level encompassing 4 en suite bedrooms. The expansive patio off of the living room compliments this airy, unique condominium with slope side access and mountain views. The large family room has comfy sofas and cushioning chairs for evening family gatherings. The private elevator offers an excellent security measure for family and friends. Two ski lockers in the members only ski room is just steps to the slopes and the outdoor pool and spa. Ski out your back door to The Gondola or Fanny Hill 6-pack to get your day started and ski home via Assay Hill. Or just have a cold one on the sun drenched patio and soak up another beautiful Colorado day. This is truly a remarkable, one of a kind, Snowmasss Condominium!” 2016 Taxes: $9,992; HOA Dues: $67,230 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 02/10/2017; Sold Date: 03/17/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #139448 – Ridge Run, 32 Elk Ridge Lane, Snowmass Village, CO: Sold Price: $2,425,000/$627 sq ft; furnished. More details below photos.
Aspen real estate 032617 139448 32 Elk Ridge Lane 1 590WAspen real estate 032617 139448 32 Elk Ridge Lane 2 590WAspen real estate 032617 139448 32 Elk Ridge Lane 3 190HAspen real estate 032617 139448 32 Elk Ridge Lane 4 190HAspen real estate 032617 139448 32 Elk Ridge Lane 5 190HAspen real estate 032617 139448 32 Elk Ridge Lane 6 190H
MLS #139448 – Ridge Run, 32 Elk Ridge Lane, Snowmass Village, CO: Sold Price: $2,425,000/$627 sq ft; furnished. Snowmass Village single family residence for sale. Ask Price: $2,655,000. (Original Price: $2,995,000 and 561 days on the market since 06/08/2015.) This is a 2007 built, 5 bedroom/4 bath/1 half-bath, 3,863 sq ft single family residence with 2 car garage on a 31,291 sq ft lot. Broker comments are “This home is truly a work of art in Snowmass Village. Styled in Mountain-contemporary fashion with a grand staircase surrounded by windows and a large open floor plan, this home was built in 2007. The wood, copper, and stone exteriors accent the hardwood floors and custom lighting throughout the interior. Kitchen has top-of-the-line appliances, custom cabinetry, and the bathrooms are reminiscent of today’s modern spas. Perfect for intimate entertaining or for a large gathering, this five bedroom home has four full baths and one powder room. Sonos sound and Lutron lighting system throughout home. The home is located off of Maple Ridge Lane, a private, peaceful area less than a mile up Faraway Road. Owners and renters can use the Snowmass Dial-a-Ride to be taken to the ski slopes, Base Village, Snowmass Club.” 2016 Taxes: $9,578; HOA Dues: $90 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 12/15/2016; Sold Date: 03/20/2017. (Photos and broker comments courtesy of Douglas Elliman Real Estate-SMV)

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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