Nov 5 – 12, 2017 Estin Report: Last Week’s Aspen Snowmass Real Estate Sales & Stats: Closed (13) + Under Contract / Pending (6)

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 46, Nov 5 – 12, 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 (13):  MLS#s 151487, 142876, 146964, 147724, 147979, 148995, 149130, 149536, 149573, 149690, 149874, 150188, 151538. This link is valid until 12/12/2017.

Under Contract/Pending (6): MLS#s: 139835, 145881, 146038, 148192, 149307, 151007. This link is valid until 12/12/2017.

Aspen Snowmass Solds Last Week:  

MLS #149874 – West End, 203 E Hallam, Aspen, CO. Sold Price: $12,400,000/$2,278 sq ft; furnished. More details below photos.

MLS #149874 – West End, 203 E Hallam, Aspen, CO. Sold Price: $12,400,000/$2,278 sq ft; furnished. Aspen single family home for sale. Ask Price: $12,995,000. (Original Price: $14,500,000 and 291 days on the market since 12/23/2016.) This is a 2017 built, 6 bedroom/5 bath/1 half-bath, 5,443 sq ft single family home with 2 car garage on a 6,000 sq ft lot. Broker comments are “Brand new quality construction in Aspen’s coveted West End. Not a spec home. This contemporary Z Group designed corner lot home boasts soaring floor-to-ceiling windows providing abundant natural light and various mountain views. Sliding glass doors and great patio provide for indoor outdoor living and entertaining. Located just blocks to the downtown Central Core, this fully furnished, six bedroom residence features superior quality custom finishes throughout. Poggenpohl custom kitchen, luxury tile work by Ann Sachs, rich woods, various entertaining areas and great outdoor space, including a two-car garage.” 2016 taxes: $9,589. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/07/2017; Sold Date: 11/08/2017. (Photos and broker comments courtesy of Compass)

MLS #150188 – West End, 327 S 7th Street, Aspen, CO. Sold Price: $9,000,000/$1,992 sq ft; unfurnished. More details below photos.

MLS #150188 – West End, 327 S 7th Street, Aspen, CO. Sold Price: $9,000,000/$1,992 sq ft; unfurnished. Aspen single family home for sale. Ask Price: $10,900,000. (Original Price: $10,900,000 and 97 days on the market since 07/26/2017.) This is an older house purchase with terrific rebuild potential in a private not well known part of west side Aspen. This is a 1984 built, 5 bedroom/5 bath/1 half-bath, 4,516 sq ft single family home with 1 car garage on a 30,056 sq ft lot. Broker comments are “Rarely offered South 7th Street dry stacked stone home, fronting on a portion of the Marolt Open Space that provides Castle Creek frontage (in effect), and access. Fish in and out in a beautiful section of Castle Creek amidst car sized boulders. Fall asleep to the sounds of the river. All park lands on the other side. Located outside Aspen City limits on a dead end street, with an ”Old Aspen” quiet, country feel, yet blocks to downtown and on the town side of the Castle Creek Bridge. Walk, ride, or take the free Downtowner shuttle app. On the sunny side of Shadow Mt. with no HOA. Walk your dog in the park. Cross country ski out your door to the Marolt tracks in the winter. Great for the whole family. You will love the peace, quiet, and freedom.” 2016 taxes: $11,986. Under Contract Date: 09/10/2017; Sold Date: 10/31/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #147979 – tktkin Row, Central Core, 710 E Hopkins Avenue 3, Aspen, CO. Sold Price: $7,655,000/$2,100 sq ft; furnished. More details below photos.

MLS #147979 – Pitkin Row Townhomes, Central Core, 710 E Hopkins Avenue 3, Aspen, CO. Sold Price: $7,655,000/$2,100 sq ft; furnished. Aspen townhouse for sale. Ask Price: $7,987,000. (Original Price: $7,987,000 and 235 days on the market since 03/08/2017.) This is a 1989 built, 3 bedroom/3 bath/1 half-bath, 3,644 sq ft townhouse with 2 car garage. Broker comments are “Enjoy expansive views of Aspen Mountain and the excitement of being downtown. This wonderful townhome located in the Aspen Core, on Hopkins Avenue between Original and Spring St. Walking distance from an abundance of shops, restaurants, the gondola, and trails. 3 bedroom 3.5 bathroom home features; a rooftop balcony with 360 degree views, kitchen, living, and dining room on the top floor with a generous open floor plan perfect for hosting, two car garage, and a fenced in front yard.” 2016 taxes: $11,444; HOA Dues: $6,920 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/16/2017; Sold Date: 11/06/2017. (Photos and broker comments courtesy of Aspen Associates Realty)

MLS #149130 – Riverside, Central Core, 1035 E Hopkins Avenue, Aspen, CO. Sold Price: $6,497,500/$2,205 sq ft. More details below photos.

MLS #149130 – Riverside, Central Core, 1035 E Hopkins Avenue, Aspen, CO. Sold Price: $6,497,500/$2,205 sq ft. Aspen single family home for sale. Ask Price: $6,300,000. (Original Price: $6,300,000 and 118 days on the market since 05/25/2017. This property is an excellent example of market activity from the depths of the recession to our current record high market: the seller paid $3.375M/$1,145 sq ft on 9/26/11 after being on the market 526 days since 3/9/10 and originally priced then at $5.5M.) Multiple contracts on ths property ultimately selling for over ask price. Reasons? River fontage single family home at the eastern edge of Aspen’s downtown Core. This is a 1991 built and 2011 remodeled, 3 bedroom/3 bath/1 half-bath, 2,946 sq ft single family home with 1 car garage on a 4,000 sq ft lot. Broker comments are “It’s All About the River… Uniquely nestled on the bank of the Roaring Fork River, every room in this 3 bedroom, 3.5 bath single family home is designed for extraordinary river and mountain views that bring nature indoors. The tranquil sound of the river will rock you to sleep at night. Enjoy the spectacular natural light inside, the three outdoor decks and ground floor patio. Drop a line and fish from the lower level balcony. This peaceful A+ location offers both end-of-the cul-de-sac privacy, and an easy, convenient three-block walk or bike ride to Aspen shops, restaurants and the Saturday farmer’s market. Truly a rare find…” 2016 taxes: $14,057. Under Contract Date: 08/04/2017; Sold Date: 11/07/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Spring Street)

MLS #151487 – Red Mountain, 502 Wright Road, Aspen, CO. Sold Price: $6,350,000/$2,829 sq ft. More details below photos.

MLS #151487 – Red Mountain, 502 Wright Road, Aspen, CO. Sold Price: $6,350,000/$2,829 sq ft. Aspen single family home for sale. Ask Price: $6,350,000. This is a 1973 built, 3 bedroom/2 bath/1 half-bath, 2,244 sq ft single family home with 2 car garage on a 1 acre lot. Broker comments are “Sold before MLS.” 2016 taxes: $5,356. Under Contract Date: 08/04/2017; Sold Date: 11/03/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #148995 – Aspen Club, East Aspen, 1423 Crystal Lake, Aspen, CO. Sold Price: $4,100,000/$1,484 sq ft; unfurnished. More details below photos.
MLS #148995 – Aspen Club, East Aspen, 1423 Crystal Lake, Aspen, CO. Sold Price: $4,100,000/$1,484 sq ft; unfurnished. Aspen condo for sale. Ask Price: $4,250,000. (Original Price: $3,890,000 and 1,117 days on the market since 09/05/2014.) This is a 1976 buit and 2016 remodeled, 4 bedroom/3 bath/1 half-bath/1 3/4-bath, 2,761 sq ft condo. Broker comments are “Luxurious Aspen Club Condominium located within walking distance to all Aspen has to offer. Recently updated, this condominium has designer finishes throughout including Wolf stove, stainless steel counters, lacquered cabinets, SubZero refrigerator, etched front door, hardwood floors, wood burning fireplaces in living room, master & guest master. The master suite features marble counters, Jacuzzi tub, & walk-in closet w/ safe. The 2nd master features a jetted tub, marble counters, steam shower & walk-out deck with hot tub. The guest bedroom room is spacious with an en-suite bathroom. Other features include; fourth bedroom/media with gas fireplace, wet bar, 3/4 bath and braided leather handrails.” 2016 taxes: $9,066; HOA Dues: $5,198 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 08/21/2017; Sold Date: 11/07/2017. (Photos and broker comments courtesy of Compass)

MLS #149536 – Spruce Street, Smuggler, 40 Spruce Court, Aspen, CO. Sold Price: $3,600,000. More details below photos.

MLS #149536 – Spruce Street, Smuggler, 40 Spruce Court, Aspen, CO. Vacant lot sale. Sold Price: $3,600,000. Aspen single family vacant lot for sale. Ask Price: $4,250,000. (Original Price: $4,250,000 and 931 days on the market since 09/16/2014.) This is a 1.02 acres single family vacant lot. Broker comments are “By far the most amazing lot opportunity for 2017! Very rare to find a flat acre of land within walking distance to the Core – this opportunity will not come again. Astounding views of Aspen Mountain, Smuggler Mountain,Red Mountain and Sopris from this private lot with plenty of room to build your dream home in Aspen. Gorgeous Aspen groves, walk to town and have the land to create an outdoor backyard recreational area that exceeds anything in Aspen with a FULL FLAT ACRE! This lot has easy easy and is also close to town. Very special and unique, the land has privacy and tremendous views. See the uploaded development rights. Seller will close as soon as the vested rights get extended for two more years. Rights to build 9173 square feet of heated plus a 750 square foot garage. Amazing.” 2016 taxes: $12,800. Under Contract Date: 09/07/2017; Sold Date: 11/09/2017. (Photos and broker comments courtesy of Whitman Fine Properties)

MLS #149690 – West End, 633 W Main Street, Aspen, CO. Sold Price: $2,700,000/$909 sq ft; unfurnished. More details below photos.

MLS #149690 – West End, 633 W Main Street, Aspen, CO. Sold Price: $2,700,000/$909 sq ft; unfurnished. Aspen single family home for sale. Ask Price: $2,850,000. (Original Price: $2,950,000 and 133 days on the market since 06/26/2017.) This is a 1885 built and 2002 remodeled, 3 bedroom/3 bath, 2,969 sq ft single family home with 1 car garage on a 3,000 sq ft lot. Broker comments are “Located right in the core of Aspen, this charming single family Victorian-style home has been modernized for comfortable living. You will love the natural light, the cozy intimate spaces and the attention to detail. Includes two off-street parking spaces and a one car garage. Beautifully maintained English garden. Easy to show!” 2016 taxes: $5,492. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/21/2017; Sold Date: 11/06/2017. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)

MLS #147724 – Chateau Roaring Fork, Central Core, 1039 E Cooper Avenue Unit 20-A, Aspen, CO. Sold Price: $2,200,000/$1,358 sq ft; furnished. More details below photos.

MLS #147724 – Chateau Roaring Fork, Central Core, 1039 E Cooper Avenue Unit 20-A, Aspen, CO. Sold Price: $2,200,000/$1,358 sq ft; furnished. Aspen condo for sale. Ask Price: $2,595,000. (Original Price: $2,200,000 and 252 days on the market since 02/20/2017.) This is a 1972 buit, 4 bedroom/3 bath, 1,620 sq ft condo. Broker comments are “The HOA approved exterior renovation will be substantially completed December 2017. Landscaping and other remaining work shall be completed spring 2018. Scope of work includes electrical vault and transformer, trash enclosure, ski lockers, exterior siding – Tru Grain Resysta and Equitone Concrete Panel, landscaping, doors, carpeting halls, lighting, paint, stain, and rails. Unit interior was renovated in 2014. This 4 bedroom, 3 bath deluxe condominium features an open living room and kitchen area with a wonderful deck overlooking the Roaring Fork River. Complex amenities include onsite parking, heated pool, hot tub, exercise facility, and a conference center. Enjoy the river and trees from your living room, while having in-town convenience just five blocks to the Silver Queen Gondola and the downtown central core.” 2016 taxes: $4,895; HOA Dues: $4,435 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/19/2017; Sold Date: 10/30/2017. (Photos and broker comments courtesy of Frias Properties of Aspen)

MLS #146964 – Villager Townhouse, Central Core, 1001 E Cooper Avenue 1, Aspen, CO. Sold Price: $2,000,000/$1,224 sq ft; furnished. More details below photos.

MLS #146964 – Villager Townhouse, Central Core, 1001 E Cooper Avenue 1, Aspen, CO. Sold Price: $2,000,000/$1,224 sq ft; furnished. Aspen townhouse for sale. Ask Price: $2,195,000. (Original Price: $2,400,000 and 330 days on the market since 12/08/2016.) This is a 1965 built, 3 bedroom/2 bath, 1,633 sq ft townhouse. Broker comments are “Corner 3 bedroom townhome in downtown Aspen is also the largest in the complex. This two story unit features vaulted ceilings, skylight views of Aspen Mountain and a wraparound deck. With great views and plenty of natural light, this townhome is located just blocks from the Gondola and walking distance to all shops and restaurants. The small complex is only 8 units with low HOA dues. Perfect for someone looking for a great rental property or full time residence. One dog allowed per owner. One assigned parking space per unit.” 2015 taxes: $4,001; HOA Dues: $1,730 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/01/2017; Sold Date: 11/03/2017. (Photos and broker comments courtesy of Bowden Properties)

MLS #149573 – Central Core, 210 E Cooper Avenue 3G, Aspen, CO. Sold Price: $1,150,000/$1,179 sq ft; unfurnished. More details below photos.

MLS #149573 – Central Core, 210 E Cooper Avenue 3G, Aspen, CO. Sold Price: $1,150,000/$1,179 sq ft; unfurnished. Aspen condo for sale. Ask Price: $1,395,000. (Original Price: $1,500,000 and 123 days on the market since 06/19/2017.) This is a 1965 buit, 2 bedroom/2 bath, 975 sq ft condo. Broker comments are “Bring your ideas! Conveniently situated in downtown Aspen, this top floor, end-unit condo is the perfect blank canvas for a new owner to showcase their personalized touch and taste. Located just one block to Wagner Park and easy walking distance to the gondola and restaurant row, this unit is on the quiet side of the building and offers 2 bedrooms, 2 bathrooms, wood burning fireplace, abundant natural light, 2 balconies and extra storage. Views of Aspen Mountain and convenient underground parking complete the package!” 2016 taxes: $2,819; HOA Dues: $1,734 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/26/2017; Sold Date: 11/06/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #151538 – Chateau Chaumont, Central Core, 731 E Durant Avenue #13, Aspen, CO. Sold Price: $1,000,000/$1,199 sq ft; unfurnished. More details below photo.

MLS #151538 – Chateau Chaumont, Central Core, 731 E Durant Avenue #13, Aspen, CO. Sold Price: $1,000,000/$1,199 sq ft; unfurnished. Aspen condo for sale. Ask Price: $1,050,000. (Original Price: $1,050,000 and 38 days on the market since 10/02/2017.) This is a 1968 buit, 2 bedroom/2 bath, 834 sq ft condo. No broker comments. 2016 taxes: $2,556. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 10/04/2017; Sold Date: 11/09/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #142876 – Country Club Villas, 240 Snowmass Club Circle 1411, Snowmass Village, CO: Sold Price: $800,000/$561 sq ft; furnished. More details below photos.

MLS #142876 – Country Club Villas, 240 Snowmass Club Circle 1411, Snowmass Village, CO: Sold Price: $800,000/$561 sq ft; furnished. Snowmass Village condo for sale. Ask Price: $845,000. (Original Price: $895,000 and 617 days on the market since 02/29/2016.) This is a 1984 built, 3 bedroom/2 bath, 1,426 sq ft condo with 1 car garage. Broker comments are “Terrific two bedroom plus den with an attached garage. The den can be used as a third bedroom, office or media room. Ground level location with spectacular mountain views. Included is a Snowmass Club Membership that offers a state of the art workout facility, pools and tennis courts. Nordic trails right out your back door. Free Snowmass Shuttle to mountain slopes.” 2016 Taxes: $3,268; HOA Dues: $3,941 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 09/29/2017; Sold Date: 11/07/2017. (Photos and broker comments courtesy of Douglas Elliman Real Estate-SMV)

 

Recent Estin Report tweets on Aspen Real Estate

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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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