Nov 19 – 26, 2017 Estin Report: Last Week’s Aspen Snowmass Real Estate Sales & Stats: Closed (9) + Under Contract / Pending (2)

The Estin Report: Oct 2017 Aspen Real Estate Monthly Snapshot was posted in Current Reports on 11/14/17. The Snapshots are usually posted on or near the 1st Monday of the month.

October 2017 Bottom Line

Bottom Line:
For 2017 YTD thru Oct, the total combined Aspen Snowmass dollar market is nearing the 2015 YTD mark, $1.23B versus $1.38B;  in unit sales, it is 349 sales vs 341 respectively.

Overall inventory of available properties for sale in Oct 2017 has declined 13% since Oct 2015. For Aspen condos specifically – a particularly hot segment of the market, it has declined 17% in the same period.

Deep Dive: Sales by Location (Pgs 7 & 9 of Snapshot)

– Aspen: Sales by Neighborhoods
            – Snowmass Village: Sales by Neighborhoods

“Flip Job” Examples:
See recent Before/After Redevelopment in the 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 (07/4/17) as additional re-sale properties come on the market at significantly higher prices.

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Market Activity Week 48, Nov 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 in the upper Roaring Fork Valley. Fractional/Timeshare sales are not included. Because the MLS links below expire after 30 days, photos and written descriptions of most closed properties (those with excellent photography) are posted here to preserve an archive of sold market activity. Scroll down the page for property photos and details of weekly sales and under contract / pending in the past 4 weeks. For earlier dates, see the Estin Report blog archives from 2008 at the bottom of the page. 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 (9):  MLS#s 141809, 144258, 145236, 147097, 147317, 147966, 148579, 149208, 151118. This link is valid until 12/26/2017.

Under Contract/Pending (2): MLS#s: 149015, 145025. This link is valid until 12/26/2017.

Aspen Snowmass Solds Last Week: 

MLS #149208 – Maroon Creek Club, West Aspen, TBD Pfister Drive, Aspen, CO. Sold Price: $4,000,000. More details below photos.

MLS #149208 – Maroon Creek Club, West Aspen, TBD Pfister Drive, Aspen, CO. Sold Price: $4,000,000. Aspen single family vacant lot. Ask Price: $4,500,000. (Original Price: $4,950,000 and _ days on the market since _.) This is a 2.01 acres single family home vacant lot. Broker comments are “One of the finest, most private lots in the Maroon Creek Club, with beautiful views overlooking the golf course and a pond. End of the cul-de-sac on Pfister Drive. Build up to 14,000 square feet- 10,000sqft above grade and 4,000sqft below grade.” 2017 taxes: $35,549; HOA Dues: $5,082 per Yr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 10/26/2017; Sold Date: 11/21/2017. (Photos and broker comments courtesy of Aspen Associates Realty)

MLS #144258 – West Aspen, 777 Castle Creek Drive, Aspen, CO. Sold Price: $3,700,000/$909 sq ft; unfurnished. More details below photos.

MLS #144258 – West Aspen, 777 Castle Creek Drive, Aspen, CO. Sold Price: $3,700,000/$909 sq ft; unfurnished. Aspen duplex/half-duplex for sale. Ask Price: $3,875,000. (Original Price: $4,500,000 and 542 days on the market since 05/27/2016.) This is a 1993 built and 2015 remodeled, 5 bedroom/4 bath/2 half-bath, 4,066 sq ft duplex/half-duplex with 2 car garage. Broker comments are “Newly remodeled duplex with a tasteful blend of traditional and contemporary design, conveniently located between downtown Aspen and the ski slopes! This expansive property includes 5 bedrooms, 4 full bathrooms and 2 1/2 baths. The gourmet kitchen boasts a large island with seating, 2 sinks, stainless steal appliances that are sure to please the discriminating chef. The 3 sided fireplace enhances the 20 foot vaulted ceilings in the great room, kitchen and dining room. All bedrooms are above grade with ample natural light. The large recreation and media room has a built in bar and plenty of room for a pool table. Radiant heat throughout. Attached 2 car garage, Caretaker suite. Convenient to free bus shuttle.” 2015 taxes: $8,712. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/29/2017; Sold Date: 11/20/2017. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)

MLS #147317 – Central Core, 210 E Cooper Avenue 3b, Aspen, CO. Sold Price: $1,185,000/$1,405 sq ft; furnished. More details below photos.

MLS #147317 – Central Core, 210 E Cooper Avenue 3b, Aspen, CO. Sold Price: $1,185,000/$1,405 sq ft; furnished. Aspen condo for sale. Ask Price: $1,300,000. (Original Price: $1,499,000 and 304 days on the market since 01/17/2017.) This is a 1965 built and 2007 remodeled, 2 bedroom/2 bath, 843 sq ft condo. Broker comments are “Located in downtown Aspen and literally within steps of the gondola, restaurant row, Wagner and Koch parks and so much more, this top floor condo with invaluable underground parking is a perfect combination of location and amenities. Offering 2 bedrooms, 2 bathrooms, updated kitchen with stainless steel appliances and granite countertops, abundant natural light from multiple skylights, balcony with Red Mountain views and a generous living room with a wood burning fireplace and Aspen Mountain front and center.” 2016 taxes: $2,327; HOA Dues: $1,536 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/15/2017; Sold Date: 11/17/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #147966 – Ridge Run, 305 Deer Ridge Lane, Snowmass Village, CO: Sold Price: $3,400,000/$685 sq ft; furnished. More details below photos.

MLS #147966 – Ridge Run, 305 Deer Ridge Lane, Snowmass Village, CO: Sold Price: $3,400,000/$685 sq ft; furnished. Snowmass Village single family home for sale. Ask Price: $3,995,000. (Original Price: $4,200,000 and 253 days on the market since 03/13/2017.) This is a 1987 built and 2004 remodeled, 5 bedroom/5 bath/1 half-bath/1 den/1 bonus room, 4,960 sq ft single family home with 2 car garage on a 37,462 sq ft lot. Broker comments are “Perched atop Deer Ridge at the end of the cul de sac sits a classic Snowmass ski home. Grand entrance of granite floors open to a large living room and a flagstone BBQ patio. Vaulted ceilings, dedicated den with built-in bookshelves, formal dining room for 10, and large kitchen are on main level. Upper level is Master Suite and separate office, which can be connected. Lower level has large guest master, two more bedrooms and separate living space. Mountain views and ski access via ”Funnel” run to the mid-point of the gondola. Easy access to Brush Creek Road and dial-a-ride access to all of Snowmass. A/C on upper 2 levels and humidification system isin place.” 2016 Taxes: $15,270; HOA Dues: $90 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 10/17/2017; Sold Date: 11/21/2017. (Photos and broker comments courtesy of Douglas Elliman Real Estate-SMV)

MLS #145236 – Ridge Run, 796 Faraway Road, Snowmass Village, CO: Sold Price: $1,925,000/$594 sq ft; unfurnished. More details below photos.
    
MLS #145236 – Ridge Run, 796 Faraway Road, Snowmass Village, CO: Sold Price: $1,925,000/$594 sq ft; unfurnished. Snowmass Village single family home for sale. Ask Price: $1,997,000. (Original Price: $2,497,000 and 490 days on the market since 07/18/2016.) This is a 1976 built and 1999 remodeled, 4 bedroom/4 bath/1 half-bath, 3,240 sq ft single family home with 2 car garage on a 30,056 sq ft lot. Broker comments are “Life in this warm, contemporary home centers around its great room w/ floor-to-ceiling windows, wood floors and a vaulted wood ceiling over the living room, dining room, and kitchen, all of which open out to a huge deck in the trees and to a lovely vegetable garden (which could be repurposed as a small yard). This property is owned by gourmet chefs, and it shows – a wonderful place to entertain. Very sunny and bright. Other features include a generous master suite with adjoining study, a walk-in closet, and a lovely bath, all of which were added to the house in 1999. Two other spacious guest bedrooms on the upper level are filled with light. Views through the trees across the valley from all. Downstairs is a family room with fireplace and a 4th bedroom/bath which space also has an exterior entry. Spacious garage with plenty of storage shelves and cabinetry and a sizeable adjoining closet, cool enough to store wine. This is a home in the treetops – it is the very definition of peace and serenity. There is room to expand – total allowable FAR is 3930 sq ft.” 2016 Taxes: $9,394; HOA Dues: $90 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 09/06/2017; Sold Date: 11/20/2017. (Photos and broker comments courtesy of Berkshire Hathaway HomeServices | Aspen Snowmass Properties)

MLS #148579 – Tamarack, 135 Carriage Way Unit 3, Snowmass Village, CO: Sold Price: $685,000/$568 sq ft; furnished. More details below photos.

MLS #148579 – Tamarack, 135 Carriage Way Unit 3, Snowmass Village, CO: Sold Price: $685,000/$568 sq ft; furnished. Snowmass Village condo for sale. Ask Price: $749,500. (Original Price: $765,000 and 1,096 days on the market since 10/16/2014.) This is a 1969 built and 2013 remodeled, 3 bedroom/3 bath, 1,204 sq ft condo. Broker comments are “Brand new complete top to bottom remodel including all new mechanicals. Mountain contemporary style 3 bedroom townhome located steps from the Treehouse and Base Village. Easy ski access right across the street. Townhome living close to everything Snowmass has to offer. Fully equipped designer kitchen with stainless steel appliances, granite countertops. Full size Whirlpool washer and dryer. Two gas fireplaces. Great rental history! See documents tab for 2013 and 2014 rental numbers. Clean lines. Incredible price for a 3 bedroom with ski access. Live the mountain lifestyle!” 2016 Taxes: $2,473; HOA Dues: $16,741 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 10/20/2017; Sold Date: 11/21/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Snowmass Village)

MLS #141809 – Top of Village, 855 Carriage Way Leaf 302, Snowmass Village, CO: Sold Price: $675,000/$625 sq ft; furnished. More details below photos.

MLS #141809 – Top of Village, 855 Carriage Way Leaf 302, Snowmass Village, CO: Sold Price: $675,000/$625 sq ft; furnished. Snowmass Village condo for sale. Ask Price: $685,000. (Original Price: $795,000 and 726 days on the market since 11/25/2015.) This is a 1974 built and 2017 remodeled, 2 bedroom/2 bath, 1,080 sq ft condo. Broker comments are “Come see the new fresh remodeled look of Aspen Leaf #302. This unit has just been remodeled with new carpet, furniture, paint, lighting, and window coverings. The bathrooms have new flooring and vanity tops. The kitchen was remodeled earlier with new granite countertops and cabinets along with re-configuring extra dining space and seating. The large windows in the living area allow for an abundance of natural light, views out to the slopes and Continental divide, and warm morning sunlight, yet still provide privacy from other buildings and units. The open living room with the wood burning fireplace, wood veneer beams, and great covered deck located off the living room with a new gas grill make for a perfect winter vacation, sunny spring break or a relaxing summer get away for the family. A+ unit location, private with easy access to elevator, covered assigned parking, and only steps to the ski trails. Amenities include excellent management, rental/front desk services, fitness facilities, shuttle service, meeting room and outside heated pool and hot tub. The unit is vacant and easy to show at a moment’s notice.” 2016 Taxes: $2,211; HOA Dues: $14,163 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 10/21/2017; Sold Date: 11/20/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #151118 – Lichenhearth, 150 Carriage Way 39, Snowmass Village, CO: Sold Price: $375,000/$580 sq ft; furnished. More details below photos.

MLS #151118 – Lichenhearth, 150 Carriage Way 39, Snowmass Village, CO: Sold Price: $375,000/$580 sq ft; furnished. Snowmass Village condo for sale. Ask Price: $375,000. (Original Price: $375,000 and 52 days on the market since 09/29/2017.) This is a 1968 built and 2000 remodeled, studio/1 bath, 646 sq ft condo. Broker comments are “Rarely available, top floor, corner Lichenhearth unit ready to be called yours. As the largest studio available on the mountain side,Lichenhearth 39 is the quintessential ski studio with easy ski access, a pool/hot tub area, and views of the Snowmass Valley. Steps to Base Village and the Treehouse kids center, the Lichenhearth complex offers covered assigned carports, extra owners storage locker, and elevator access to all floors. Lichenhearth #39 is a non rental and available for immediate occupancy.” 2016 Taxes: $1,267; HOA Dues: $2,119 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 10/05/2017; Sold Date: 11/20/2017. (Photos and broker comments courtesy of Douglas Elliman Real Estate-SMV)

MLS #147097 – Laurelwood, 640 Carriage Way 201, Snowmass Village, CO: Sold Price: $275,000/$550 sq ft; furnished. More details below photos.

MLS #147097 – Laurelwood, 640 Carriage Way 201, Snowmass Village, CO: Sold Price: $275,000/$550 sq ft; furnished. Snowmass Village condo for sale. Ask Price: $285,000. (Original Price: $299,000 and 1,262 days on the market since 01/10/2013.) This is a 1969 built and 2011 remodeled, studio/1 bath, 500 sq ft condo. Broker comments are “Ski in and ski out to Fanny Hill! Close to the Snowmass mall restaurants and shopping. Completely remodeled spacious studio with separate sleeping area. Located on the quiet garden level with direct access in the landscaped courtyard and gardens. Finish your day of skiing or hiking with a soak in the large hot tub. Top notch management team on site for short term rentals OR live here full time. Great rental history.” 2016 Taxes: $980; HOA Dues: $9,276 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 10/19/2017; Sold Date: 11/20/2017. (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 represent the opinions of the author and they should not be relied upon exclusively to make real estate decisions. Information concerning particular real estate opportunities can be requested from Aspen real estate broker agent Tim Estin at 970.309.6163 or by email.  A potential buyer is advised to make an independent investigation of the market and of each property before deciding to purchase. Your opinions may be different. To the extent the statements made herein report facts or conclusions drawn 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 and the information provided is subject to change. The Estin Report is copyrighted 2017 and all rights are reserved. Use is permitted subject to the following attribution with an active link to the source:  “The Estin Report by broker Tim Estin MBA, GRI on Aspen real estate.“

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