The Estin Report:May 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 22, May 29 – June 5, 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 (7):MLS#’s: 144285, 141269, 142724, 141967, 141932, 143522, 141731.This link is valid until 7/5/2016.
Under Contract/Pending (4):MLS#’s: 135562, 142387, 139443, 144120. This link is valid until 7/5/2016.
Aspen Snowmass Solds Last Week:
MLS #144285 – Jerome Proffessional, Central Core, 201 N Mill Street Penthouse B, Aspen, CO. Sold Price: $7,250,000/$3,625 sq ft; unfurnished. More details below photos.
MLS #144285 – Jerome Proffessional, Central Core, 201 N Mill Street Penthouse B, Aspen, CO. Sold Price: $7,250,000/$3,625 sq ft; unfurnished. Asking Price: $7,250,000. (Original Price: $7,250,000 and on/off on the market since 04/02/2015.) This is a 2016 built, 3 bedroom/3 bath/1 half-bath, 2,000 sq ft condo on a 12,000 sq ft lot. Broker comments are “Sold before MLS. Aspen welcomes its most sought luxury offering: four exceptionally designed pied-a-tier residences. Separate entrance for residents. Each unit combines impeccable design with cutting edge technology: over 2000 sq feet of living space, private elevator access and parking, geothermal heating/cooling system, solar generated domestic hot water, a green roof along with breathtaking views from each unit and a prime location just two blocks from restaurant row. Never again can this type of residence be built in Aspen. Call for pricing on other 3 units.” Under Contract Date: 05/18/2016; Sold Date: 05/18/2016. (Photos and broker comments courtesy of Tru Real Estate)
MLS #141269 – Aspen Villas, West End, 814 W Bleeker Street A-2, Aspen, CO. Sold Price: $1,195,000/$850 sq ft; unfurnished. More details below photos.
MLS #141269 – Aspen Villas, West End, 814 W Bleeker Street A-2, Aspen, CO. Sold Price: $1,195,000/$850 sq ft; unfurnished. Asking Price: $1,225,000. (Original Price: $1,195,000 and 249 days on the market since 07/27/2015.) This is a 1972 built and 2006 remodeled, 3 bedroom/1 bath/2 3/4-bath, 1,405 sq ft townhouse. Broker comments are “This beautiful townhome enjoys the most serene and desirable location in the entire complex; nestled in a stand of mature cottonwood trees, overlooking the quiet pedestrian trail and enjoying the sounds of a babbling brook right outside your dining room door. Located in the Aspen School District and conveniently located just a short walk or bus ride to downtown Aspen. Hardwood floors, upgraded bathrooms and extensive built-in living room bookshelves and cabinetry make this a very livable home. Freshly painted.” 2014 taxes: $2,167; HOA Dues: $1,800 Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 04/08/2016; Sold Date: 05/25/2016. (Photos and broker comments cousrtesy of Aspen Core Realty)
MLS #142724 – Hunter Creek, Smuggler, 1327 Vine Street, Aspen, CO. Sold Price: $580,000/$913 sq ft; partial-furnished. More details below photos.
MLS #142724 – Hunter Creek, Smuggler, 1327 Vine Street, Aspen, CO. Sold Price: $580,000/$913 sq ft; partial-furnished. Asking Price: $582,000. (Original Price: $582,000 and 82 days on the market since 02/18/2016.) This is a 1980 built and 2008 remodeled, 1 bedroom/1 bath, 635 sq ft condo. Broker comments are “”Totally Cool” describes this Rowland and Broughton remodeled Hunter Creek condo! Built with efficiency of space in mind, this light and bright 1-bedroom unit has built in washer/dryer, built-in entertainment system, built-in desk, built-in dining table and a new floor to ceiling sliding glass door in which to enjoy the views of a grassy knoll with a backdrop of Smuggler. (Nice view of Tiehack out the front.) The materials are all the finest with cork floors, Caesar stone countertops, stainless appliances, Walnut tops, modern ceiling fans, Bosch and Kitchen Aid appliances. With nearby bus on regular schedule throughout the year, 8 minute walk to town, and the best of nature literally out your front door, the location can’t be beat. Low HOA dues of $221/month! Easy to show!” 2015 taxes: $1,204; HOA Dues: $200 Month. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 04/16/2016; Sold Date: 05/27/2016. (Photos and broker comments cousrtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #141967 – Mill Street Condo, Central Core, 415 Rio Grande Place 302, Aspen, CO. Sold Price: $495,000/$482 sq ft; unfurnished. More details below photos.
MLS #141967 – Mill Street Condo, Central Core, 415 Rio Grande Place 302, Aspen, CO. Sold Price: $495,000/$482 sq ft; unfurnished. Asking Price: $550,000. (Original Price: $550,000 and 185 days on the market since 11/24/2015.) This is a 2001 built, 2 bedroom/2 bath, 1,026 sq ft condo with 1 car garage. Broker comments are “GREAT OPPORTUNITY for a Pitkin County Employer or property owner to purchase and own a condo unit in the center of Aspen (that allows pets) for use by employees and also INCLUDES ONE GARAGE PARKING SPACE. The unit is spacious with a modern kitchen, in-unit washer and dryer room, two full baths and large living, dinning and kitchen area. The unit also has an assigned parking space off-site. There is no restriction on sales price upon resale; however, the unit must be leased to ”Qualified Tenants” (i.e. Pitkin County employees that could include child care, housekeeper, caretaker for a Pitkin County property owner) in accordance with Aspen Pitkin County Housing Authority (APCHA) Guidelines with a term of at least 6 months or more. Current allowable rent is approximately $1,557 per month.” 2015 taxes: $1,458; HOA Dues: $382 Month. Under Contract Date: 04/08/2016; Sold Date: 05/27/2016. (Photos and broker comments cousrtesy of Zenith Realty Advisors LLC)
MLS #141932 – Mill Street Condo, Central Core, 415 Rio Grande Place 101, Aspen, CO. Sold Price: $490,500/$473 sq ft; unfurnished. More details below photos.
MLS #141932 – Mill Street Condo, Central Core, 415 Rio Grande Place 101, Aspen, CO. Sold Price: $490,500/$473 sq ft; unfurnished. Asking Price: $545,000. (Original Price: $545,000 and 185 days on the market since 11/24/2015.) This is a 2001 built, 2 bedroom/2 bath, 1,037 sq ft condo with 1 car garage. Broker comments are “GREAT OPPORTUNITY for a Pitkin County Employer or property owner to purchase and own a condo unit in the center of Aspen (that allows pets)for use by employees and also INCLUDES ONE GARAGE PARKING SPACE. The unit is spacious with a modern kitchen, in-unit washer and dryer room, two full baths and large living, dinning and kitchen area. The unit also has an assigned parking space off-site. There is no restriction on sales price upon resale; however, the unit must be leased to ”Qualified Tenants” (i.e. Pitkin County employees that could include child care, housekeeper, caretaker for a Pitkin County property owner) in accordance with Aspen Pitkin County Housing Authority (APCHA)Guidelines with a term of at least 6 months or more. Current allowable rent is approximately $1,557 per month.” 2014 taxes: $1,333; HOA Dues: $367 Month. Under Contract Date: 04/08/2016; Sold Date: 05/27/2016. (Photos and broker comments cousrtesy of Zenith Realty Advisors LLC)
MLS #143522 – Ridge Run, 107 Baby Doe Lane, Snowmass Village, CO: Sold Price: $3,210,000/$955 sq ft; furnished. More details below photos.
MLS #143522 – Ridge Run, 107 Baby Doe Lane, Snowmass Village, CO: Sold Price: $3,210,000/$955 sq ft; furnished. Asking Price: $3,345,000. (Original Price: $3,345,000 and 51 days on the market since 04/13/2016.) This is a 1984 built and 2003 remodeled, 4 bedroom/2 bath/1 half-bath, 3,361 sq ft single family residence with 1 car garage on a 21,888 sq ft lot. Broker comments are “Stunning, one-of-a-kind, timeless ski home adjacent to the US National Forest. Easy ski access from Elk Camp by way of West Fork and Eddy Out ski trails. Idyllic, private setting in Aspen and pine forest. Comfortably furnished and accessorized. Outstanding views of Snowmass Ski Area and surrounding peaks can be enjoyed from almost every room. Private master suite. Kitchen designed for the chef and host in mind. Media room could be used as a fifth sleeping area.” 2015 Taxes: $9,941; HOA Dues: $90 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 04/13/2016; Sold Date: 06/03/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Resalty-Snowmass Village)
MLS #141731 – Horse Ranch, 117 Spur Ridge Lane, Snowmass Village, CO: Sold Price: $2,100,000/$685 sq ft; unfurnished. More details below photos.
MLS #141731 – Horse Ranch, 117 Spur Ridge Lane, Snowmass Village, CO: Sold Price: $2,100,000/$685 sq ft; unfurnished. Asking Price: $2,395,000. (Original Price: $2,450,000 and 195 days on the market since 11/19/2015.) This is a 1993 built, 4 bedroom/3 bath/1 half-bath, 3,062 sq ft single family residence with 2 car garage on a 71,723 sq ft lot. Broker comments are “117 Spur Ridge is a spectacular family home on one of Horse Ranch’s largest parcels of land. The highly sought after Horse Ranch neighborhood (developed in the mid-nineties), the subdivision is conveniently located near to the town park, ball fields, pool and tennis courts at the Snowmass Recreation Center. It is also within a few miles of the world-renowned Snowmass Club and the Snowmass Ski Area. This 4 bedroom residence is perfect as a permanent, or vacation home. With exceptional privacy, newly designed kitchen, living room and master suite, it is Snowmass’ best single family home opportunity under $2.5M. The property is located on a quiet cul-de-sac street, surrounded by mature aspen and pines trees. Within the Aspen School District.” 2015 Taxes: $6,476; HOA Dues: $195 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 04/20/2016; Sold Date: 06/01/2016. (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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