The Nov 2016 YTD Aspen Snowmass Real Estate Market Snapshot will be posted late Tues Dec 6th.The Oct 2016 Snapshot was posted on Mon Nov 7th in Current Reports.The Monthly Snapshots are usually posted on or near the 1st Monday of the month.
Oct 2016 Market Snapshot excerpt:
“Oct ‘16 is down considerably compared to the same time last year – as was Sep ‘16. Demand (sales) is way off; supply (inventory of properties for sale) is increasing. Prices, with the exception of unique and like-new properties, are trending downward especially as sellers seasonally adjust downward to post-summer, pre-winter realities and greater motivation sets in. An average 5-10% discount to ask price is common, and in some cases more. Pages 7 and 9 of this Market Snapshot identify sales by Aspen and Snowmass Village location/neighborhood with average sales to ask and original price discounts.
The time of maximum uncertainty is often the best time to get into the market. There have been some great buys in the past two months, and buyers would do well to dig deep, find motivated sellers and pull the purchase trigger. This “down” year is not going to last indefinitely and many believe there will be a post-election turnaround sooner than later.”
The Estin Report:2nd Quarter and 1st Half 2016State of the Aspen Real Estate Market with narrative, charts, tables photos was posted inCurrent Reportsas PDF (v6.6) July 20. The print edition is available at kiosks around town, at Sothebys/415 E. Hyman Mall, Sothebys/300 S. Spring St and at the airport.
Click cover above for Exec. Summary and full 28-Pg Report PDF
See recent Before/After redevelopment‘flip job’ examplesin Miscellaneous Info Sectionat 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 48, November 27 – December 4, 2016
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 (11): MLS#s 141955, 112730, 139527, 140416, 138188, 143292, 143862, 143889, 144493, 145729, 146090. This link is valid until 1/3/2017.
Under Contract/Pending (8):MLS#s 130921, 139319, 141880, 143423, 143708, 143860, 144324, 144578 .This link is valid until 1/3/2017.
Aspen Snowmass Solds Last Week:
MLS #112730 – West Aspen, 813 Bonita Drive, Aspen, CO. Sold Price: $5,025,000/$939 sq ft; unfurnished. More details below photos.
MLS #112730 – West Aspen, 813 Bonita Drive, Aspen, CO. Sold Price: $5,025,000/$939 sq ft; unfurnished. Asking Price: $5,350,000. (Original Price: $7,950,000 and 2,656 days on the market since 08/17/2009.) This is a 2009 built, 5 bedroom/5 bath/2 half-bath/2 3/4-bath, 5,346 sq ft townhouse with a 2 car garage. Broker comments are “Rare oversized 5 bedroom residence directly on Aspen Championship Golf Course with stunning views of Pyramid Peak. This home features top floor Great Room/Dining Room, Kitchen and Master Suite with 4 additional Guest Suites, generous Family Room w/ wet bar, Wine Room, Theater and spacious outdoor porch with fireplace.” 2016 taxes: $13,052; HOA Dues: TBD per Yr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 08/25/2016; Sold Date: 11/29/2016. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
MLS #143889 – Ridge of Red Mountain, Red Mountain, 75 Bennett Court, Aspen, CO. Sold Price: $3,100,000/$1,095 sq ft; unfurnished. More details below photos.
MLS #143889 – Ridge of Red Mountain, Red Mountain, 75 Bennett Court, Aspen, CO. Sold Price: $3,100,000/$1,095 sq ft; unfurnished. Asking Price: $3,449,000. (Original Price: $3,975,000 and 264 days on the market since 02/25/2016.) This is a 1981 built and 2014 remodeled, 4 bedroom/3 bath, 2,930 sq ft single family residence with a 3 car garage on a 24,718 sq ft lot. This is an older home on a limited view lot with a Red Mountain address. Broker comments are “This is a rare opportunity to own property on the exclusive Ridge of Red Mountain in this price range. This four bedroom, three bath property is priced at land value. The house is very livable or rentable while you design your dream home this large view, quiet cul-de-sac. This property is ready for a remodel or for a new building project . The lot is 24,718 square feet with 270 degree views. There are stellar views to the west for those wonderful mountain Sunsets, to the north looking back at Red Mountain and Hunter Creek and to the south at the panorama of Aspen Mountain, Highlands and Buttermilk. You can currently build 5,750 square feet, 3,160 above grade, 1840 below grade and a 750 square foot garage. This is a county TDR receiver site. So you could build an additional 2,500 squ” 2015 taxes: $5,357; HOA Dues: $260 per Yr. Under Contract Date: 10/03/2016; Sold Date: 11/14/2016. (Photos and broker comments courtesy of Compass)
MLS #138188 – Chateau Eau Claire, Central Core, 1034 E Cooper Avenue 3A, Aspen, CO. Sold Price: $2,200,000/$1,523 sq ft; unfurnished. More details below photos.
MLS #138188 – Chateau Eau Claire, Central Core, 1034 E Cooper Avenue 3A, Aspen, CO. Sold Price: $2,200,000/$1,523 sq ft; unfurnished. Asking Price: $2,395,000. (Original Price: $2,595,000 and 924 days on the market since 03/03/2014.) This is a 1972 built, 3 bedroom/2 bath, 1,444 sq ft condo. The Chat EC exterior was remodeled in 2011-2012 with a new elevator installed. Much of Aspen’s condo stock is in need of comprehensive exterior upgrades that will require expensive special assesments in the near and relatively near future. The Chateau Eau Claire condominiums is a superior stand-out complex for the following reasons: beautiul riverfront location, walking distance to town, recent exterior remodel/upgrade, a large number of owners are upgrading their units. Broker comments are “Fabulous top floor elevator building in the core with views of Aspen Mountain located on the Roaring Fork River. 3 spacious bedrooms with 2 balconies, 2 oversized bathrooms, separate laundry room all with high end finishes throughout. This could the perfect Aspen vacation spot to call home. Adjoining complex has pool, hot tub and meeting room for private events.” 2014 taxes: $3,971; HOA Dues: $4,155 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 10/27/2016; Sold Date: 11/25/2016. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
MLS #144493 – Aspen Hof, Central Core, 520 E Cooper 403, Aspen, CO. Sold Price: $2,095,000/$1,720 sq ft; furnished. More details below photos.
MLS #144493 – Aspen Hof Condominiums, Central Core, 520 E Cooper 403, Aspen, CO. Sold Price: $2,095,000/$1,720 sq ft; furnished. Asking Price: $2,250,000. (Original Price: $2,250,000 and 176 days on the market since 06/08/2016.) This is a 1970 built and 2009 remodeled, 3 bedroom/2 bath, 1,218 sq ft condo. Center of downtown Aspen location. Broker comments are “Unbelievable views of Aspen Mountain from this spectacular core Penthouse. Just upstairs from Pitkin County Dry Goods this 3 bedroom 2 bath condo overlooking downtown Aspen is a mere 1.5 blocks to the gondola. Tastefully remodeled with great natural light compliments of three skylights, this high end flat boasts attractive finishes that include top tier appliances, granite, gorgeous furniture and custom wood work throughout. Humidified central air, highly insulated double pane windows with an underground parking spot cradle you in a zen type environment that will suit the needs of the most discriminating buyer. No detail has been overlooked. This unit is the Aspen dream home in a dream location. Make an appointment to see this unit today! Art work and some furnishings artwork and some furnishings Excluded. See exclusion list in document.” 2016 taxes: $4,780; HOA Dues: $2,500 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 06/24/2016; Sold Date: 12/01/2016. (Photos and broker comments courtesy of McKinley Sales)
MLS #143862 – Chateau Roaring Fork, Central Core, 1039 E Cooper Avenue Unit 16, Aspen, CO. Sold Price: $2,000,000/$1,237 sq ft; furnished. More details below photos.
MLS #143862 – Chateau Roaring Fork, Central Core, 1039 E Cooper Avenue Unit 16, Aspen, CO. Sold Price: $2,000,000/$1,237 sq ft; furnished. Asking Price: $2,149,000. (Original Price: $2,150,000 and 202 days on the market since 04/30/2016.) This is a 1972 built, 4 bedroom/3 bath, 1,616 sq ft condo. The unit is dated and in need of an extreme make-over. Broker comments are “Newly updated and refreshed 4 bedroom 3 bath condominium on the banks of the Roaring Fork River in Aspen’s Central Core. Parking, pool, hot tub, conference center and fitness room included in the complex. Unit has great rental history and is on the free skier shuttle route! Just minutes to the Silver Queen Gondola and downtown shops and restaurants.” 2015 taxes: $4,173; HOA Dues: $4,181 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 08/28/2016; Sold Date: 11/18/2016. (Photos and broker comments courtesy of Frias Properties of Aspen)
MLS #139527 – Aspen Alps, Central Core, 700 Ute Avenue #102, Aspen, CO. Sold Price: $1,255,000/$1,110 sq ft; furnished. More details below photos.
MLS #139527 – Aspen Alps, Central Core, 700 Ute Avenue #102, Aspen, CO. Sold Price: $1,255,000/$1,110 sq ft; furnished. Asking Price: $1,399,000. (Original Price: $1,595,000 and 521 days on the market since 06/12/2015.) This is a 1963 built and 2011 remodeled, 2 bedroom/2 bath, 1,130 sq ft condo. Broker comments are “This 2-bedroom Aspen Alps condo has the perfect combination of countless upgrades and a prime location. Beautifully finished with high-end appliances, new carpet, a large storage closet and updated bathrooms. The sunny, south-facing patio leads right out onto the courtyard. Along with the Aspen Alps on-site management, amenities and proximity to town, this condo encompasses the ultimate Aspen experience.” 2014 taxes: $3,251; HOA Dues: $2,366 per Month. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 10/13/2016; Sold Date: 11/28/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #145729 – 914 Waters, Central Core, 914 Waters Avenue 17, Aspen, CO. Sold Price: $875,000/$922 sq ft; unfurnished. More details below photos.
MLS #145729 – 914 Waters, Central Core, 914 Waters Avenue 17, Aspen, CO. Sold Price: $875,000/$922 sq ft; unfurnished. Asking Price: $1,150,000. (Original Price: $1,150,000 and 100 days on the market since 08/23/2016.) This is a 1998 built, 2 bedroom/1 bath/1 half-bath, 949 sq ft condo. Broker comments are “This bright, spacious and well-kept ski condo is located just two blocks from the gondola in the heart of downtown Aspen. Warm, winter sunshine streams into the south-facing, two-story corner unit. The ground level entrance welcomes you into an open kitchen and living area featuring a walk-out patio and small yard. Wooden beams, light finishes and a wood burning fireplace provide a cozy living space, and a half-bath with stackable washer and dryer add a touch of convenience. The upstairs features two south-facing bedrooms and one full bath. The master bedroom showcases views of Aspen Mountain from the private deck. At 950 square feet, this is one of the larger and more desired units in the building. It is perfect for short or long-term rentals with a separate owner’s closet with additional storage. Indeed, this is the ideal location for ski trips and summer getaways in Aspen.” 2015 taxes: $2,418; HOA Dues: $1,755 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/19/2016; Sold Date: 12/01/2016. (Photos and broker comments courtesy of Douglas Elliman Real Estate-Durant)
MLS #143292 – Alpine Grove, West Aspen, 414 Pacific Avenue H, Aspen, CO. Sold Price: $605,000/$625 sq ft; unfurnished. More details below photos.
MLS #143292 – Alpine Grove, West Aspen, 414 Pacific Avenue H, Aspen, CO. Sold Price: $605,000/$625 sq ft; unfurnished. Asking Price: $650,000. (Original Price: $690,000 and 236 days on the market since 03/30/2016.) This is a 2002 built and 2013 remodeled, 2 bedroom/2 bath, 968 sq ft condo. Broker comments are “This beautiful two-bedroom, two-bathroom condo is conveniently located just minutes from downtown in the Aspen Airport Business Center. Situated in a quiet complex with swimming pool, hot tub and play area, this would be an idyllic home or fantastic investment opportunity. A bonus room provides extra living space with stunning mountain views from a spacious balcony. The loft-style master bedroom is on the top floor, providing privacy. Laundry is conveniently located in the master, walk-in closet. This is one of only two, two-story units in all of Alpine Grove. Outside city limits and exempt from 1.5% transfer tax.” 2015 taxes: $965; HOA Dues: $1,760 per Qtr. Under Contract Date: 09/26/2016; Sold Date: 11/21/2016. (Photos and broker comments courtesy of RE/MAX Premier Properties)
MLS #141955 – Aspen View, Smuggler-East Aspen, 326 Midland Avenue 301, Aspen, CO. Sold Price: $585,000/$696 sq ft; unfurnished. More details below photos.
MLS #141955 – Aspen View, Smuggler-East Aspen, 326 Midland Avenue 301, Aspen, CO. Sold Price: $585,000/$696 sq ft; unfurnished. Asking Price: $595,000. (Original Price: $695,000 and 433 days on the market since 09/22/2015.) This is a 1971 built, 2 bedroom/1 bath, 840 sq ft condo. Broker comments are “Top floor, corner unit with 2 bedrooms and 1 bathroom near Smuggler Mtn. Views of Aspen Mtn. Gas fireplace. Two assigned parking spaces and a separate storage unit. Low dues. 6 month minimum rental restriction. No dogs.” 2015 taxes: $736; HOA Dues: $1,296 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 10/14/2016; Sold Date: 11/28/2016. (Photos and broker comments courtesy of Setterfield & Bright)
MLS #146090 – Hunter Creek, Smuggler, 218 Vine, Aspen, CO. Sold Price: $535,000/$899 sq ft. More details below photos.
MLS #146090 – Hunter Creek, Smuggler, 218 Vine, Aspen, CO. Sold Price: $535,000/$899 sq ft. Asking Price: $545,000. (Original Price: $545,000 and 76 days on the market since 09/16/2016.) This is a 1980 built and 2009 remodeled, 1 bedroom/1 bath, 595 sq ft condo. Broker comments are “This one bedroom, ground floor condominium faces out to a serene lawn and wooded area. Enjoy the sounds of Hunter Creek from your patio. The unit has upgraded appliances, new counter tops and tile floors. Hunter Creek amenities include a pool, two hot tubs and two tennis courts. Complex is on city bus route or just a short walk to town.” 2015 taxes: $1,053; HOA Dues: $220 per Month. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/27/2016; Sold Date: 12/01/2016. (Photos and broker comments courtesy of Hunter Creek Properties)
MLS #140416 – Viceroy, 130 Wood Road 813, Snowmass Village, CO: Sold Price: $1,700,000/$790 sq ft; furnished. More details below photos.
MLS #140416 – Viceroy, 130 Wood Road 813, Snowmass Village, CO: Sold Price: $1,700,000/$790 sq ft; furnished. Asking Price: $1,856,000. (Original Price: $1,856,000 and 430 days on the market since 08/03/2015.) This is a 2009 built, 3 bedroom/4 bath, 2,150 sq ft condo. Broker comments are “This three bedroom plus den residence is a multiple deed unit(813,819). Enjoy luxurious amenities and whole ownership at The Residences Viceroy Snowmass. Located in Snowmass Base Village, Leed Gold certified Viceroy Snowmass offers it all: sophisticated and lavishly appointed residences; ski-in/ski-out access; award-winning Wellness Spa; highly-acclaimed Eight K and Nest restaurants; all-season, full-service outdoor pool and hot tub area; together with the refined level of service that the Viceroy is known for worldwide. Property awards include Travel + Leisure Top 50 Hotels for Families, Conde Nast Traveler Gold List 2015, Conde Nast Best Resorts 2014, and Travel + Leisure World’s Best Award 2014. Please contact the listing agent for information on our experienced preferred lenders.” 2015 Taxes: $13,853; HOA Dues: $13,983 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 09/16/2016; Sold Date: 11/21/2016. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-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 at970.309.6163 or 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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