The Estin Report: April and YTD 2015 Aspen Snowmass Real Estate Market Snapshot was released late Monday, May 4, 2015 inCurrent Reports

The Estin Report: The 4th Quarter and Year 2014 State of the Aspen Real Estate Market was released online Feb 7th inCurrent Reports.The print edition is available in racks around town and at Sotheby’s offices at 415 Hyman St Mall and 300 Spring Street (my office) opposite the new Aspen Art Museum.

See recent Before/After redevelopment ‘flip job’ examplesin Miscellaneous Info. These are properties that have been recently or are currently being redeveloped for re-sale. This post is updated (last -05/07/15) as additional re-sale properties come on the market at significantly higher prices.

Last week’s Aspen and Snowmass sales activity appears below. Scroll down the page for 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 search the 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, the information should be here.

Market Activity Week 20, May 10 – 17, 2015

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.

Closed (6):MLS #’s:135675,136829,137088,136820,120282,136960. This link is valid until 06/16/2015.

Under Contract/Pending (10):MLS#’s:137247,135661,129343,136073,137434,138131,138299,138814,138881,139004. This link is valid until06/16/2015.

Aspen Snowmass Solds Last Week:

MLS #135675 – Aspen Highlands, West Aspen, 115 Glen Eagle Drive, Aspen, CO: Sold Price: $4,218,000/$593 sq ft; unfurnished. More details below photos.

MLS #135675 – Aspen Highlands, West Aspen, 115 Glen Eagle Drive, Aspen, CO: Sold Price: $4,218,000/$593 sq ft; unfurnished; Asking Price: $4,950,000. (Original Price: $6,750,000 and 281 days on the market since 07/31/2014.) This is a 1976 built and 2001 remodeled, 7 bedroom/6 bath/1 half-bath, 7,109 sq ft single family home with 3 car garage on a 45,040 sq ft lot. This is a very dated home requiring extensive remodel for most buyers. The primary value in the property is the beautiful and large relatively flat 1+ acre lot with extensive landscaping. Broker comments are “Aspen’s finest family location. Beautiful and spacious yard, supreme privacy, fully landscaped, and ideal for family outdoor activities including a soccer field, pool and hot tub. Enjoy ski access and views of Aspen Highlands. Walk to Aspen Recreation Center and Aspen schools. Five minutes to town. This family home is ideally located with an abundance of space and storage, perfect for a family.” 2013 Taxes: $6,939. Under Contract Date: 03/18/2015; Sold Date: 05/08/2015. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #136829 – Single Family Vacant Lot, W/J Ranch, McLain Flats, 51 White Star Drive, Aspen, CO: Sold Price: $2,700,000. More details below photos.

MLS #136829 – Single Family Vacant Lot, W/J Ranch, McLain Flats, 51 White Star Drive, Aspen, CO: Sold Price: $2,700,000; Asking Price: $3,500,000. (Original Price: $3,500,000 and 134 days on the market since 11/25/2014.) This is a 339,594 sq ft single family lot in Aspen. Broker comments are “Unquestionably the best lot in McLain Flats! The 7.8 acre flat lot offers up amazing views of all four ski areas, easy to build topography, large pond, generous activity envelope set apart from other home sites, and is adjacent to only one other home. Privacy is at a premium with hundreds of acres of meadows, grasslands, & extensive open space surrounding the lot. Fantastic water rights are included and all underground utilities are in place. Get right into the building process with included plans designed by architect David Johnston for homes of 5,000 square feet or 7,500 square feet. The lot is also approved for an agricultural building or 1,160 square foot barn for a total build of 8,660 square feet. If desired, a TDR is also available separately.” 2014 Taxes: $27,954; HOA Dues: $7,600 per year. Under Contract Date: 03/27/2015; Sold Date: 05/11/2015.(Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #137088 – Ardmore Subdivision, East Aspen, 89 Ardmore Court, Aspen, CO: Sold Price: $2,335,000/$1,052 sq ft; unfurnished. More details below photos.

MLS #137088 – Ardmore, East Aspen, 89 Ardmore Court, Aspen, CO: Sold Price: $2,335,000/$1,052 sq ft; unfurnished; Asking Price: $2,495,000. (Original Price: $2,495,000 and 146 days on the market since 12/20/2014.) This is a 1971 built, 4 bedroom/3 bath, 2,218 sq ft single family home with 2 car garage on a 8,000 sq ft lot. Broker comments are “Set amongst the Aspen trees on a quiet and natural 8,000 square foot Ardmore lot, this four bedroom, three bathroom single-family home includes fully approved plans for a spectacular new contemporary home. Submittal-ready Rowland and Broughton architectural drawings for a new 4,483 square feet, five bedrooms, five and a half bath awesome modern home are included. A design-build project team is in place that will turn-key this spectacular, innovative and welcoming home from inception to completion. The approximately 900 square foot three-sided grandfathered front deck with side yard enjoys all day sunshine and views of Aspen and Smuggler Mountains. Perfect for indoor/outdoor living, the upstairs great room opens to an oversized front deck. A media/family room separates three downstairs bedrooms. A wood stove with a slate hearth and custom tile surround warms the great room. Solid slab granite counter tops are found in the kitchen with stainless steel appliances and slate flooring. The two-car garage provides plenty of room for all of your toys. The Salvation Ditch flows behind the property. A Pitkin County address offers less mitigation costs and no transfer tax. Walking distance to downtown Aspen via the Hopkins Ave. Pedestrian Bridge. Access Smuggler Mountain via a National Forest Service Trail from the Ardmore neighborhood. The heavy lifting has already been done for this unique Aspen development opportunity.” 2014 Taxes: $3,304; HOA Dues:$600 per year. Under Contract Date: 03/19/2015; Sold Date: 05/15/2015. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #136820 – Durant Condos, Central Core, 738 S Galena Street 3-C, Aspen, CO: Sold Price: $1,650,000/$1,328 sq ft; partial-furnished. More details below photos.

MLS #136820 – Durant Condos, Central Core, 738 S Galena Street 3-C, Aspen, CO: Sold Price: $1,650,000/$1,328 sq ft; partial-furnished; Asking Price: $1,695,000. (Original Price: $1,695,000 and 565 days on the market since 11/17/2013.) This is a 1969 built, 3 bedroom/2 bath, 1,242 sq ft condo. Broker comments are “This is the only 3 bedroom, 2 bathroom currently listed in the Durant Condos. Floor to ceiling windows with breathtaking views of Aspen Mountain and Red Mountain, brand new remodeled bathrooms, ski in, ski out access, wood-burning fireplace, pool and hot tub in complex, onsite management, ski storage and fantastic in core location. Owner will pay the current assessment (for the full exterior renovation) up to $310,000.” 2012 Taxes: $3,727; HOA Dues:$3,700 per quarter. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/28/2015; Sold Date: 1,650,000. (Photos and broker comments courtesy of Weaver & Briscoe)

MLS #120282 – Single Family Vacant Lot, White Star Ranc, McLain Flats, Tbd Byers Court, Aspen, CO: Sold Price: $1,200,000. More details below photo.

MLS #120282 – Single Family Vacant Lot, White Star Ranc, McLain Flats, Tbd Byers Court, Aspen, CO: Sold Price: $1,200,000; Asking Price: $1,500,000. (Original Price: $1,995,000 and 2,301 days on the market since 03/10/2009.) This is a 92,347 sq ft single family lot in Aspen. Broker comments are “Located in Aspen’s premier single-family development, and easy driving distance to Aspen, Snowmass and Woody Creek. This small Exclusive subdivision has exceptional views, ponds on every lot and borders perpetual open space. Underground utilities are in place and home sites are ready for building plan submittals.” 2013 Taxes: $18,636; HOA Dues: $5,000 per year. Under Contract Date: 01/19/2015; Sold Date: 05/11/2015.(Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)

MLS #136960 – Wood Run, Snowmass, 1581 Wood Road, Snowmass, CO: Sold Price: $5,610,000/$891 sq ft; partial-furnished. Auction property. More details below photos.

MLS #136960 – Wood Run, Snowmass, 1581 Wood Road, Snowmass, CO: Sold Price: $5,610,000/$891 sq ft; partial-furnished; Asking Price: $7,950,000. (Original Price: $8,250,000 and 1,376 days on the market since 09/28/2007.) this property was sold at auction. This is an 1990 built and 2014 remodeled, 5 bedroom/5 bath/1 half-bath, 6,291 sq ft single family home with 2 car garage on a 50,207 sq ft lot. Broker comments are “AUCTION: April 11th. Selling Without Reserve, to the highest bidder. Northstar luxury chalet is a mountain Contemporary retreat with easy ski accessibility 150 yards from Adam’s Avenue ski run or a few steps away from the private Guggenheim Trail. Above-grade, walk out living in every room with incredible light. Meticulously designed with recent upgrades and perched on the mountainside, enjoy an open floor plan and awe-inspiring views. Open daily from 12:00-3:00PM or by appointment. Each room is perfectly situated to take full advantage of the spectacular views. Additional upgrades include steam shower in every bath, radiant & electric heat, humidification system, green construction throughout & electric skylight in kitchen.” 2014 Taxes: $13,247; HOA Dues: $100 per year. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 04/14/2015; Sold Date: 05/14/2015.(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 by email.The Estin Report is copyrighted 2015 and all rights reserved. Use is permitted subject to the following attribution with a live link to the source:“The Estin Report on Aspen Real Estate.”

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