The Oct 2016 YTD Aspen Snowmass Real Estate Market 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 45, November 6 – 13, 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 (9):MLS#s 135448, 137958, 142690, 143846, 143949, 144363, 145264, 145636, 146077.This link is valid until 12/12/2016.
Under Contract/Pending (9):MLS#s 134826, 138831, 140447, 143256, 144716, 144731, 145001, 146257, 146388.This link is valid until 12/12/2016.
Aspen Snowmass Solds Last Week:
MLS #135448 – Pitkin Green, Red Mountain, 720 Willoughby Way, Aspen, CO. Sold Price on 11/10/16: $24,000,000/$2,755 sq ft; unfurnished. The property was re-listed as MLS 146778 on 11/21/2016 at $32M/$3,719 sq ft. Call Tim Estin for info 970-309-6163. More details below photos.
MLS #135448 – Pitkin Green, Red Mountain, 720 Willoughby Way, Aspen, CO. Sold Price on 11/10/16: $24,000,000/$2,755 sq ft; unfurnished. The property was re-listed on 11/21/2016 at $32M/$3,719 sq ft. Call Tim Estin for info 970-309-6163. Asking Price: $24,500,000. (Original Price: $24,500,000 and 841 days on the market since 07/23/2014, but it has been under contract since 08/22/14.) This is a 2015 built, 6 bedroom/6 bath/2 half-bath, 8,710 sq ft single family residence with a 3 car garage on a 38,000 sq ft lot. Broker comments are “Situated on a stunning front row lot on prestigious Willoughby Way, is a vision of contemporary style & sophistication. Intelligently designed by David Johnston Architects & meticulously crafted by Paul Rasmussen, Pitkin Green will be well served by its newest addition. Comprising 8,710 square feet of elegant yet comfortable heated living spaces, the development team has brought all of their experience & expertise to bear on this unique project. The home utilizes 3 levels to incorporate 6 bedroom suites (including a spectacular upper level master), 6 full baths, 2 half baths, exercise room, wine room/bar, office, 750 square foot three car garage, & 2,960 square feet of patios & decks. The comprehensive landscape plan allows for enjoyment of the outdoor experience as much as the indoor. Brand new construction just completed!” HOA Dues: $615 per Qtr. Under Contract Date: 08/09/2016; Sold Date: 11/10/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #144363 – West End, 440 N Fifth Street, Aspen, CO. Sold Price: $8,000,000/$1,519 sq ft; furnished. More details below photos.
MLS #144363 – West End, 440 N Fifth Street, Aspen, CO. Sold Price: $8,000,000/$1,519 sq ft; furnished. Asking Price: $8,400,000. (Original Price: $8,695,000 and 688 days on the market since 03/26/2015.) This is a 2006 built, 4 bedroom/4 bath/2 half-bath, 5,265 sq ft single family residence with a 2 car garage on a 6,000 sq ft lot. Broker comments are “A highly coveted setting on a prominent corner lot in the West End, this home exudes privacy yet remains central to Aspen’s prime attractions. Endless entertaining possibilities from the open living, dining, kitchen, sitting room to the upper outdoor terrace complete with a built-in outdoor grill or the stone-paved hot tub terrace. The media room with a large bar is adjacent to the billiard room and wine room. The large master closet was the fifth bedroom and could easily be converted back.” 2015 taxes: $20,412. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 08/22/2014; Sold Date: 11/10/2016. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
MLS #142690 – Fox Crossing, Smuggler, 559 Race Street, Aspen, CO. Sold Price: $5,700,000/$942 sq ft; furnished. More details below photos.
MLS #142690 – Fox Crossing, Smuggler, 559 Race Street, Aspen, CO. Sold Price: $5,700,000/$942 sq ft; furnished. Asking Price: $6,800,000. (Original Price: $7,600,000 and 267 days on the market since 02/16/2016.) This is a 2016 built, 5 bedroom/5 bath/2 half-bath, 6,045 sq ft single family residence with a 2 car garage on a 6,515 sq ft lot. Broker comments are “Brand new construction in Fox Crossing! Enjoy beautiful views of Aspen Mountain less than a mile away from the gondola. This mountain modern five bedroom, 6,045 square foot single family home contains three above grade bedrooms, an office, three outdoor decks, three fireplaces, an elevator and sits on a quiet street. Open floorplan combining the living areas and kitchen include a chenille white marble fireplace, Wolf appliances, and a mudroom off of the two car garage. Entertaining area includes a bar, billiards area, and media center.” HOA Dues: $1,590 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/24/2016; Sold Date: 11/09/2016. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
MLS #146077 – Hunter Creek, Smuggler, 333 Vine Street 333, Aspen, CO. Sold Price: $725,000/$825 sq ft; furnished. More details below photos.
MLS #146077 – Hunter Creek, Smuggler, 333 Vine Street 333, Aspen, CO. Sold Price: $725,000/$825 sq ft; furnished. Asking Price: $739,900. (Original Price: $739,900 and 53 days on the market since 09/15/2016.) This is a 1980 built, 2 bedroom/2 bath, 878 sq ft codo. Broker comments are “Hunter Creek unit 333 is undoubtedly one of the best condominiums in the entire complex. Phase 1 is built with brick interior and exterior walls which drastically reduce noise between units and interior hallways which offer more privacy compared to the other buildings. Enjoy all day sunshine in the top floor south facing unit with unobstructed views of Aspen Mountain and Shadow Mountain. Watch your friends ski down Ajax and watch the gondola. Two bedrooms, two bathrooms, 878 sq ft with a private patio and the wood burning river rock fireplace is great for cold winter evenings. No other Aspen condominium complex in this price range compares to Hunter Creek. Enjoy the beautifully maintained grounds, 2 new tennis courts, 2 hot tubs, sunshine and 360 degree views at the Hunter Creek pool. Have a picnic at your outdoor grill behind the unit with sounds of the Roaring Fork River. Easy access to the Hunter Creek Trail, Smuggler Mountain and the Rio Grande Trail are in close proximity. It is a short 8 minute walk to the downtown core, the Hunter Creek bus runs every 20 minutes so access to and from town is very convenient. During the ski season, the Galena St shuttle runs every 10 minutes and will drop you off by Ruby Park and at the Silver Queen Gondola. Hassle free living makes Hunter Creek very desirable to locals, 2nd homeowners and investors alike.” 2015 taxes: $1,798; HOA Dues: $352 per Month. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 10/05/2016; Sold Date: 11/07/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #137958 – 1137 Little Woody Creek Road, Woody Creek, CO. Sold Price: $6,000,000/$688 sq ft; furnished. More details below photos.
MLS #137958 – 1137 Little Woody Creek Road, Woody Creek, CO. Sold Price: $6,000,000/$688 sq ft; furnished. Asking Price: $6,400,000. (Original Price: $8,900,000 and 641 days on the market since 02/05/2015.) This is a 1995 built and 2000 remodeled, 7 bedroom/7 bath/2 half-bath, 8,714 sq ft single family residence with a 2 car garage on a 20.03 acres lot. This property is part of the Woody Creek Sam and Carles Wyly Estate divestiture and bank’s selling off of 3-4 properties. For more information, call Tim Estin. Broker comments are “Spacious log and stone home on 20 acres with stunning views of the Elk Mountain Range. This special western residence features seven bedrooms, seven and a half baths, including two spacious master suites. Dramatic Great Room with vaulted beam ceilings, stone fireplace and sophisticated gourmet kitchen. Additional features include two offices, media/tv room, outdoor hot tub on spacious multi-level deck. 20 acre site allows for additional barn, outbuildings and horses. Superior water rights and irrigated pastures.” 2014 taxes: $21,855. Under Contract Date: 09/21/2016; Sold Date: 11/07/2016. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
MLS #143846 – 181 Liberty Lane, Woody Creek, CO. Sold Price: $5,450,000/$1,078 sq ft; unfurnished. More details below photos.
MLS #143846 – 181 Liberty Lane, Woody Creek, CO. Sold Price: $5,450,000/$1,078 sq ft; unfurnished. Asking Price: $6,250,000. (Original Price: $6,250,000 and 570 days on the market since 10/05/2014.) This is a 2001 built and 2009 remodeled, 3 bedroom/3 bath/1 half-bath, 5,054 sq ft single family residence with a 2 car garage on a 3 acres lot. Broker comments are “This Woody Creek home has it all! Space, Openness and Light. 200ft of river frontage, mountain views, custom built with 22 foot ceilings, home office, wine room, and most of all, 1883sf of outdoor living space with built-in kitchen,pizza oven,swimming pool, hot tub and extensive landscaping. Floor plan is all on one level with a pair of glass breezeways linking the living spaces. Reclaim maple floors, old timber chestnut and oak ceiling beams, expansive French windows. The east wing is a large master suite with sitting room and private office. The master bedroom with fireplace exits to the swimming pool and hot tub. West wing has 2 guest bedrooms with private bath and loft, and a custom design office overlooking the Roaring Fork river, with heated flooring and built in glass desk.” 2015 taxes: $5,892. Under Contract Date: 08/10/2016; Sold Date: 11/09/2016. (Photos and broker comments courtesy of Laura Maggos Properties)
MLS #145264 – Country Club Homes, 0408 Snowmass Club Circle #11, Snowmass Village, CO: Sold Price: $2,500,000/$879 sq ft; furnished. More details below photos.
MLS #145264 – Country Club Homes, 0408 Snowmass Club Circle #11, Snowmass Village, CO: Sold Price: $2,500,000/$879 sq ft; furnished. Asking Price: $2,679,000. (Original Price: $2,727,000 and 490 days on the market since 07/15/2016.) This is a 1981 built and 2013 remodeled, 3 bedroom/3 bath/1 half-bath, 2,844 sq ft duplex/half-duplex with 2 car garage. Broker comments are “This beautifully situated corner residence is located on the Snowmass Golf Course and only a short walk to the amenities of the Snowmass Club. The main level enjoys a wonderfully designed open living area with kitchen and dining access that creates a warm and cozy sense of space. The 2nd floor enjoys 3 bedrooms with vaulted ceilings and upgraded/remodeled bathrooms. The Upper Loft enjoys extra space for the Family with 3 Twin Beds, or perfect for an Office. Wrap around windows provide extra light, and an expanded outdoor patio takes full advantage of the beautiful views of the Snowmass Ski Area, Mt. Daly and the Golf Course. An additional yard area, a swing for the kids, and flower garden, truly enhances the livability of the home.” 2015 Taxes: $6,563; HOA Dues: $4,501 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 10/28/2016; Sold Date: 11/08/2016. (Photos and broker comments courtesy of Alpine Real Estate, Inc)
MLS #143949 – Seasons 4, 35 Lower Woodbridge Road 185, Snowmass Village, CO: Sold Price: $515,000/$542 sq ft; unfurnished. More details below photos.
MLS #143949 – Seasons 4, 35 Lower Woodbridge Road 185, Snowmass Village, CO: Sold Price: $515,000/$542 sq ft; unfurnished. Asking Price: $575,000. (Original Price: $595,000 and 182 days on the market since 05/09/2016.) This is a 1971 built and 2007 remodeled, 2 bedroom/2 bath, 950 sq ft condo. Broker comments are “This two-bedroom, two-bath corner Seasons 4 unit was beautifully remodeled in 2007. The unit has a copper-cladded wood burning fireplace, bamboo floors, granite countertops, stainless steel appliances, and an extra window in the dining area for additional light. The unit comes with an assigned parking spot and low HOA dues. HOA amenities include hot tub, pool, and sauna.” 2015 Taxes: $1,449; HOA Dues: $1,545 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 10/18/2016; Sold Date: 11/07/2016. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
MLS #145636 – Snowmass Mountain, 55 Upper Woodbridge D4, Snowmass Village, CO: Sold Price: $495,000/$376 sq ft; unfurnished. More details below photos.
MLS #145636 – Snowmass Mountain, 55 Upper Woodbridge D4, Snowmass Village, CO: Sold Price: $495,000/$376 sq ft; unfurnished. Asking Price: $585,000. (Original Price: $590,000 and 1,554 days on the market since 01/10/2012.) This is a 1973 built, 3 bedroom/2 bath, 1,316 sq ft condo. Broker comments are “Aspen School District, 2 bedroom & large private loft. Wood burning fireplace.” 2014 Taxes: $1,554; HOA Dues: $2,826 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 09/27/2016; Sold Date: 11/04/2016. (Photos and broker comments courtesy of Aspen Snowmass Real Estate, LLC)
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 at970.309.6163or 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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