This is the 504th weekly Estin Report blog post on Aspen real estate. But who’s counting, really? Check out the SearchEstinAspen Section to find all kinds of accumulated information on Aspen homes, condos and properties – ten years have gone into building this searchable database and archive that becomes a more useful as a resource over time. 


The April 2017 Aspen Snowmass Real Estate Monthly Market Snapshot was posted in Current Reports on Wed. May 3rd. The Monthly Snapshots are usually posted on or near the 1st Monday of the month. The Q1 2017 & 2016 Year End report will be released this week, I hope, as will Q4 2016 stats.

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

Bottom Line:  Estin Report: Apr 2017 Aspen Real Estate Market Snapshot Excerpt:

“Aspen real estate is in turn-a-round mode from a dismal 2016 when global uncertainty curtailed buyers’ appetite for luxury high end 2nd home purchases. Post-election 2016, an upper-end Aspen real estate recovery is in full bloom.

In April 2017, for the combined Aspen/Snowmass Village market, the number of units sold is up +25%, from 28 last year to 35 this year. The number of properties that went under contract in April 2017 was 30 versus 25 last year. Under contracts are viewed as an indicator of future activity.

But the surging market activity grabbing local headlines is very specific: location specific, property specific, style/design specific, property age specific..
. There’s inside the roundabout and there’s outside. Not everyone’s partying at present.

If you want to pay through your teeth, pour money into developer’s pockets who saw these things coming 2-4 years ago, be a part of the great migration closer into town… If you want to find good-to-great values and motivated sellers in to-die-for stunningly beautiful settings 5-15 minutes beyond downtown Aspen, play the contrarian hand and rediscover and embrace the areas and neighborhoods the Aspen settler generation of the 1960’s through the 1980’s came to Aspen for…””

040317 Estin Report AspSMV Q117 and 2016Yr Performance Comparison 590w 72res
Click tables to enlarge

New Charts Below: Historic Pace of Aspen and Snowmass Village Homes, Condos and Vacant Land / Lots by Dollar Sales and Unit Sales Updated with Q1 2017. (These charts are very popular and will be updated every quarter):

These new charts were originally posted in Current Reports on 02/15/17 through Q4 2016. They have been updated with Q1 2017 stats. The charts are: the historic pace of dollar and unit sales since 2006 separately for Aspen and Snowmass Village (SMV) by property types: 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 Mar 31, 2017(see charts through Q1 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 link to see additional charts
for Aspen and SMV by property types thru Mar 31, 2017 (Q1).

“Flip Job” Examples: See recent Before/After redevelopment  in the new Flip Jobs Section near 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 20, May 14 – 21, 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 use SearchEstinAspen in 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 141581, 140780, 142935, 143689, 143697, 144516, 146684, 147871. This link is valid until 6/20/2017.

Under Contract/Pending (4): MLS#s 139835, 145712, 146108, 147702. This link is valid until 6/20/2017.

Aspen Snowmass Solds Last Week:  


MLS #142935 – Black Birch Estates, West Aspen river front home, 1130 Black Birch Drive, Aspen, CO. Sold Price: $7,600,000/$2,627 sq ft 05/16/2017, unfurnished. More details below photos.
Aspen real estate 052117 142935 1130 Black Birch Drive 1 590W  Aspen real estate 052117 142935 1130 Black Birch Drive 2 590W  Aspen real estate 052117 142935 1130 Black Birch Drive 3 190H Aspen real estate 052117 142935 1130 Black Birch Drive 4 190H  Aspen real estate 052117 142935 1130 Black Birch Drive 5 190H Aspen real estate 052117 142935 1130 Black Birch Drive 6 190H
MLS #142935 – Black Birch Estates, West Aspen river front home, 1130 Black Birch Drive, Aspen, CO. Sold Price: $7,600,000/$2,627 sq ft on 05/16/2017, unfurnished. Aspen single family home for sale. Ask Price: $7,900,000. (Original Price: $8,900,000 and 455 days on the market since 02/16/2016.) This is a 1972 built and 1995 remodeled, 4 bedroom/3 bath, 2,893 sq ft single family residence with 1 car garage on a 20,171 sq ft lot. The house is located at the end of Red Butte Dr off of Cemetery Ln. It looks out onto the confluence of the Roaring Fork River and Caslte Creek, a completely unique and dramatic river frontage setting. Broker comments are “Situated at the confluence of the Roaring Fork River and Castle Creek in Aspen, this may be the most spectacular river front property in the State of Colorado; it is as good as it gets. Early morning sun fills the nearly half acre property and continues throughout the day. Listen to the sounds of the river, and watch wildlife wonder the riparian setting. Fly fish from the back yard. A wooden bridge entry crosses a meandering stream through the front yard. The four-bedroom home was recently remodeled and tastefully appointed with new contemporary fixtures and furnishings. A two-sided large stone fireplace warms the living area. The kitchen enjoys river views from two sides. Wood flooring is throughout. The dining room walks out to a large deck on the river. Three main level bedrooms with two bathrooms, and an open entertainment room complete the main level. The master bedroom sits above the river with views upstream towards the Continental Divide of Sunshine and New York Peaks. Located at the end of a quiet, non-through street. Close to downtown Aspen via the Rio Grande or Cemetery Lane trails, or a five-minute drive or free bus ride away. The Aspen Meadows footbridge to the Benedict music tent is also nearby. A detached garage provides adequate storage. Additional Floor Area Ratio (FAR) is still available with numerous expansion and redevelopment opportunities. There is nothing else like this available today.” 2015 taxes: $12,936. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/18/2017; Sold Date: 05/16/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #147871 – Central Core, 122 W Main Street, Aspen, CO. Sold Price: $2,850,000/$999. sq ft on 05/18/2017. More details below photos.
Aspen real estate 052117 147871 122 W Main Street 1 590W  Aspen real estate 052117 147871 122 W Main Street 2 590W  Aspen real estate 052117 147871 122 W Main Street 3 190H Aspen real estate 052117 147871 122 W Main Street 4 190H  Aspen real estate 052117 147871 122 W Main Street 5 190H Aspen real estate 052117 147871 122 W Main Street 6 190H
MLS #147871 – Central Core, 122 W Main Street, Aspen, CO. Sold Price: $2,850,000/$999. sq ft on 05/18/2017. Aspen commericial industria for sale. Ask Price: $3,000,000. (Original Price: $3,000,000 and 73 days on the market since 03/06/2017.) This is a 1999 built, 1-5 units, 2,853 sq ft commercial industria on a 4,000 sq ft lot. Broker comments are “Well located property on Main street with plenty of exposure for a business use and/or a possible residential conversion of sorts. Lots of options to make this into a great commercial space with many uses or a potential residential conversion. Many ways you could change it up: from redevelopment to an investment with a solid return.” 2016 taxes: $15,195. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/30/2017; Sold Date: 05/18/2017. (Photos and broker comments courtesy of Aspen Associates Realty)
MLS #144516 – Villager Condos, Central Core, 1001 E Cooper Avenue #2, Aspen, CO. Sold Price: $1,620,000/$1,287 sq ft 05/15/2017; partial-furnished. More details below photos.
Aspen real estate 052117 144516 1001 E Cooper Avenue 2 1 590W  Aspen real estate 052117 144516 1001 E Cooper Avenue 2 2 590W  Aspen real estate 052117 144516 1001 E Cooper Avenue 2 3 190H Aspen real estate 052117 144516 1001 E Cooper Avenue 2 4 190H  Aspen real estate 052117 144516 1001 E Cooper Avenue 2 5 190H Aspen real estate 052117 144516 1001 E Cooper Avenue 2 6 190H
MLS #144516 – Villager Condos, Central Core, 1001 E Cooper Avenue #2, Aspen, CO. Sold Price: $1,620,000/$1,287 sq ft on 05/15/2017; partial-furnished. Aspen townhouse for sale. Ask Price: $1,695,000. (Original Price: $1,825,000 and 339 days on the market since 06/10/2016.) This is a 1965 built and 2006 remodeled, 3 bedroom/2 bath, 1,258 sq ft townhouse. Broker comments are “Sunny 3 bedroom, 2-floor townhouse in downtown Aspen with tremendous potential. (Editor: This is an excellent target for remodel/upgrade.)This two story unit features vaulted ceilings with skylights and a private courtyard with hot tub and extra storage. The kitchen has been remodeled with granite and stainless appliances. This unit lives large with 2 balconies – north and south facing, great views and lots of natural light. Located just blocks to the gondola and walking distance to everything. This is a small complex with only 8 units and low HOA dues. A numer of the units in complex have been compeletey gutted and redone. (Editor: The principals of highly respected Aspen architecture firm Roland & Broughton, John Roland and Sarah Broughton, used to own an Aspen condo here and then proceeded to redevelop that unit plus 2 or 3 others in the building at the request of their neighbors / owners after they saw the beautiful and ingenious redesign Sarah and John had created.) Perfect for an investor looking for short term rental income or a full time residence. One dog allowed per owner. One assigned parking space per unit.” 2015 taxes: $4,188; HOA Dues: $1,735 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/08/2017; Sold Date: 05/15/2017. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
MLS #146684 – Chateau Blanc, Central Core, 901 E Hyman Avenue 9, Aspen, CO. Sold Price: $1,123,223/$1,283 sq ft on 05/18/2017; furnished. More details below photos.
Aspen real estate 052117 146684 901 E Hyman Avenue 9 1 590W  Aspen real estate 052117 146684 901 E Hyman Avenue 9 2 590W  Aspen real estate 052117 146684 901 E Hyman Avenue 9 3 190H Aspen real estate 052117 146684 901 E Hyman Avenue 9 4 190H  Aspen real estate 052117 146684 901 E Hyman Avenue 9 5 190H Aspen real estate 052117 146684 901 E Hyman Avenue 9 6 190H
MLS #146684 – Chateau Blanc, Central Core, 901 E Hyman Avenue 9, Aspen, CO. Sold Price: $1,123,223/$1,283 sq ft on 05/18/2017; furnished. Aspen condo for sale. Ask Price: $1,195,000. (Original Price: $1,295,000 and 195 days on the market since 11/04/2016.) This is a 1966 built and 2012 remodeled, 2 bedroom/2 bath, 875 sq ft condo. Broker comments are “Unique opportunity to own a 2 bdrm/2bath Aspen Central Core condo located on a quiet corner and just a short distance to everything downtown. Strong rental history, low HOA dues. Nicely furnished with a wood burning fireplace. Enjoy the convenience of washer/dryer in residence as well as onsite parking.” 2016 taxes: $1,840; HOA Dues: $247 per Month. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 04/19/2017; Sold Date: 05/18/2017. (Photos and broker comments courtesy of Compass)
MLS #143689 – Independence Square, Central Core, 404 S Galena Street 307, Aspen, CO. Sold Price: $510,000/$1,700 sq ft on 05/17/2017; furnished. More details below photos.
Aspen real estate 052117 143689 404 S Galena Street 307 1 590W  Aspen real estate 052117 143689 404 S Galena Street 307 2 590W  Aspen real estate 052117 143689 404 S Galena Street 307 3 190H Aspen real estate 052117 143689 404 S Galena Street 307 4 190H
MLS #143689 – Independence Square, Central Core, 404 S Galena Street 307, Aspen, CO. Sold Price: $510,000/$1,700 sq ft on 05/17/2017; furnished. Aspen condo for sale. Ask Price: $519,000. (Original Price: $549,000 and 400 days on the market since 04/12/2016.) This is a 1889 built and 2010 remodeled, 1 bath, 300 sq ft condo. (Editor: This is a hotel / condo complex with front desk management. The complex offers a perfect pied a terre small condo experience with hotel perks and services. This explains why HOA fees are as high as they are.) Broker comments are “This quiet, top floor east-facing unit with Independence Pass and Smuggler Mountain views is located in Aspen’s only Lodge on the downtown mall and in the heart of it all. Only 1 block to the gondola and step out to Aspen’s Downtown Core into the world renowned restaurants, entertainment and shopping. This highly requested unit comes fully furnished with a roof top hot tub/sun deck with arguably the best views in Aspen. As an owner or renter enjoy complimentary continental breakfast/après ski wine and cheese and spectacular full service accommodations, ski locker storage and A/C. Standard rated and excellent income potential, rent this core unit while you are not using. Pets welcome, owners.” 2015 taxes: $872; HOA Dues: $3,669 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 04/24/2017; Sold Date: 05/17/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #141581 – Horse Ranch, 47 Mustang Circle, Snowmass Village, CO: Sold Price: $3,565,000/$965 sq ft on 05/12/2017. More details below photos.
Aspen real estate 052117 141581 47 Mustang Circle 1 590W  Aspen real estate 052117 141581 47 Mustang Circle 2 590W  Aspen real estate 052117 141581 47 Mustang Circle 3 190H Aspen real estate 052117 141581 47 Mustang Circle 4 190H  Aspen real estate 052117 141581 47 Mustang Circle 5 190H Aspen real estate 052117 141581 47 Mustang Circle 6 190H
MLS #141581 – Horse Ranch, 47 Mustang Circle, Snowmass Village, CO: Sold Price: $3,565,000/$965 sq ft on 05/12/2017. Snowmass Village single family residence for sale. Ask Price: $3,900,000. (Original Price: $4,650,000 and 876 days on the market since 12/19/2014.) This is a 2016 built, 4 bedroom/4 bath/1 half-bath, 3,693 sq ft single family residence with 2 car garage on a 13,750 sq ft lot. (Editor: This is a good example of the the Snowmass Village “discount” compared to Aspen prices. In the City of Aspen, a well-located comparable new contemporary home would cost at least 2X-3X as much.) Broker comments are “This stunning contemporary mountainside retreat was recently completed in the desirable Horse Ranch neighborhood in Fall 2016. An exceptional home for entertaining, this property features a dual sided indoor/outdoor fireplace and large deck spaces to take in the unobstructed mountain views. The finest of finishes have been carefully selected throughout, including high-end appliances, wood flooring, and 100% wool carpet in the bedrooms, all of which feature their own en-suite bathroom. Live within minutes to the ski lifts, while enjoying the quiet privilege of the Horse Ranch community.” 2015 Taxes: $11,663; HOA Dues: $190 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 03/08/2017; Sold Date: 05/12/2017. (Photos and broker comments courtesy of Woodbridge Realty Unlimited)
MLS #143697 – Country Club Homes, 444 Snowmass Club Circle #15, Snowmass Village, CO: Sold Price: $2,675,000/$1,052 sq ft; unfurnished. More details below photos.
Aspen real estate 052117 143697 444 Snowmass Club Circle 15 1 590W  Aspen real estate 052117 143697 444 Snowmass Club Circle 15 2 590W  Aspen real estate 052117 143697 444 Snowmass Club Circle 15 3 190H Aspen real estate 052117 143697 444 Snowmass Club Circle 15 4 190H
MLS #143697 – Country Club Homes, 444 Snowmass Club Circle #15, Snowmass Village, CO: Sold Price: $2,675,000/$1,052 sq ft on 05/15/2017; unfurnished. Snowmass Village townhouse for sale. Ask Price: $2,795,000. (Original Price: $2,895,000 and 362 days on the market since 04/15/2016. The seller paid $2.675 on 5/12/07.) This is a 1981 built and 2015 remodeled, 3 bedroom/3 bath/1 half-bath, 2,542 sq ft townhouse with 2 car garage. (Editor: Home design by local firm Della + Zella Interiors who have done some beautiful projects in the past few years and are fast coming to the attention of many.) Broker comments are “Every detail in this light & bright townhome was considered to create a gracious modern home made for entertaining. The open concept floor plan and clean lines carry through to the living room on the revamped fireplace wall which has textured Basalt stone tiles and a slab hearth with custom blackened steel surround. Throughout the main level, and in the master bath, large format porcelain tile from Belgium were used over radiant heat flooring to add to the simple luxury of the space. The kitchen is a chef’s dream featuring both a center island ideal for prep, and a peninsula with bar seating. Appliances are all top of the line, from Wolf and Sub Zero, including a built-in Wolf coffee station. The cabinetry finishes are a mix of espresso and grey topped with white Caesarstone counters a custom full-height glass backsplash. The spa-like baths feature porcelain tiles on the walls and floors, and plumbing fixtures from luxury brands Waterworks and Grohe. Decorative light fixtures from Waterworks, along with custom hand-blown glass pendants over the dining table complete the look. Completely gutted & remodeled in 2015. Gas was brought into the home from the street, in floor radiant heat was added, new windows, new roof, every surface was redone … simply beautiful.” 2016 Taxes: $6,916; HOA Dues: $18,372 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 04/07/2017; Sold Date: 05/15/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #140780 – Terrace House, 65 Campground Lane 71, Snowmass Village, CO: Sold Price: $480,000/$528 sq ft on 05/12/2017; furnished. More details below photos.
Aspen real estate 052117 140780 65 Campground Lane 71 1 590W  Aspen real estate 052117 140780 65 Campground Lane 71 2 590W  Aspen real estate 052117 140780 65 Campground Lane 71 3 190H Aspen real estate 052117 140780 65 Campground Lane 71 4 190H  Aspen real estate 052117 140780 65 Campground Lane 71 5 190H Aspen real estate 052117 140780 65 Campground Lane 71 6 190H
MLS #140780 – Terrace House, 65 Campground Lane 71, Snowmass Village, CO: Sold Price: $480,000/$528 sq ft 05/12/2017; furnished. Snowmass Village condo for sale. Ask Price: $499,000. (Original Price: $597,500 and 626 days on the market since 08/24/2015.) This is a 1972 built and 1999 remodeled, 2 bedroom/2 bath, 908 sq ft condo. Broker comments are “Comfortable two bedroom, two bath unit steps away from the slopes of Fanny Hill. Owners and renters enjoy skiing during the day and a quiet dinner at The Artisan in the evening. The exterior of the building underwent a major renovation and this unit interior was remodeled in 1999. Great proven rental income! Amenities include convenient parking, shuttle service, hot tub, use of the Stonebridge pool, ski storage, and on-site management. Offered as a two bedroom or purchase with the connecting two bedroom unit for a four bedroom property. See MLS #131828.” 2015 Taxes: $1,632; HOA Dues: $2,112 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 03/14/2017; Sold Date: 05/12/2017. (Photos and broker comments courtesy of Laura Maggos Properties)

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 at 970.309.6163  or by email. The Estin Report is copyrighted 2017 and all rights reserved. Use is permitted subject to the following attribution with a live link to this website: “The Estin Report on Aspen Real Estate.”

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