The Sept 2016 YTD Aspen Snowmass Real Estate Market Snapshot was posted on Mon Oct 3rd in Current Reports.The Monthly Snapshots are usually posted on or near the 1st Monday of the month.
Sep 2016 Real Estate Transfer Tax (RETT) receipts:
These taxes are paid by real estate buyers at closing on properties within the City of Aspen and account for approximately 1.5% of the purchase price. The Affordable Housing RETT accounted for collections of $905,000 in September, down -44% from $1.63M in Sep 2015. The Wheeler Opera House RETT portion drew $485,000, down -43% from $846,276 in Sep 2015.
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 42, October 16 – 23, 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 141979, 142081, 140335, 140299, 141636, 139876, 144213, 144866, 145479, 145705, 146412.This link is valid until 11/22/2016.
Under Contract/Pending (5):MLS#s 141955, 143224, 144358, 144489, 146281, 146077.This link is valid until 11/22/2016.
Aspen Snowmass Solds Last Week:
MLS #140299 – Red Butte Sub, West Aspen, 1300 Red Butte Drive, Aspen, CO. Sold Price: $11,200,000/$1,928 sq ft; furnished. More details below photos.
MLS #140299 – Red Butte Subd, West Aspen, 1300 Red Butte Drive, Aspen, CO. Sold Price: $11,200,000/$1,928 sq ft; furnished. Asking Price: $11,950,000. (Original Price: $10,995,000 and 447 days on the market since 07/28/2015. The seller, a very active investment group involved in numerous “flips” purchased the property on 7/16/15 for $6.5M/$1,266 sq ft. when it was immediately re-listed at $8.9M/$1,762 sq ft and described as, “A mature aspen grove welcomes you into an escape from the hustle and bustle of downtown Aspen where the Roaring Fork River is the main attraction throughout the home. Existing home is in the process of beginning a remodel, the list price is for the home “as-is”. “). This is a 1993 built and 2016 remodeled, 5 bedroom/5 bath/1 half-bath, 5,807 sq ft single family residence with 2 car garage on a 37,026 sq ft lot. Broker comments for the finished remodel are “A mature aspen grove welcomes you into an escape from the hustle and bustle of downtown Aspen where the Roaring Fork River is the main attraction throughout the contemporary five bedroom home. David Johnston design with interiors by Della + Zella combine for an incredible remodel/expansion of the existing residence. The Rio Grande trail and regular shuttle bus service at the end of the street provide multiple opportunities for easy downtown access. Construction is complete and furnishings are installed.” 2015 taxes: $18,032. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/16/2016; Sold Date: 10/17/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #142081 – 223 E. Hallam Street Lot Split, Central Core, 223 E Hallam Street, Aspen, CO. Sold Price: $5,600,000/$2,028 sq ft; unfurnished. More details below photo.
MLS #142081 – 223 E. Hallam Street Lot Split, Central Core, 223 E Hallam Street, Aspen, CO. Sold Price: $5,600,000/$2,028 sq ft; unfurnished. Asking Price: $5,995,000. (Original Price: $7,295,000 and 297 days on the market since 12/21/15.) The seller, a developer, purchased this property on 02/04/15 for $4.25M/$1,863 sq ft. It was re-listed in Dec. 2015 as a developement project pictured above at a pre-construction price of $13.2M/$2,266 sq ft, for a 7,061 sq ft “interior livable” new home. Construction was to have begun in Jan 2016.) The existing home is a 1888 built, 5 bedroom/3 bath, 2,760 sq ft single family residence with 1 car garage on a 6,000 sq ft lot. Broker comments are “This is your rare opportunity to buy a single family home-site fully approved by Aspen’s Historic Preservation Committee (HPC) for permit, only half a block to Hotel Jerome, and one block to Matsuhisa. Approved plans include an amazing integration of the 1888 historic home with all new construction. Plans include single family home with 6 bedroom suites, two living areas, wonderful family kitchen/dining. Core location with all the benefits of a west end single family home. Neighboring lot closed for 7.4 million with less single family FAR. Call listing agent for details.” 2013 taxes: $6,000. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 10/13/2016; Sold Date: 10/13/2016. (Photos and broker comments courtesy of Bowden Properties)
MLS #144866 – Racquet Club Condo, Smuggler, 1050 Matchless Drive Unit #2, Aspen, CO. Sold Price: $2,550,000/$1,563 sq ft; unfurnished. More details below photos.
MLS #144866 – Racquet Club Condo, Smuggler, 1050 Matchless Drive Unit #2, Aspen, CO. Sold Price: $2,550,000/$1,563 sq ft; unfurnished. Asking Price: $2,795,000. (Original Price: $2,795,000 and 112 days on the market since 06/28/2016.) This is a 1977 built and 2002 remodeled, 3 bedroom/2 bath/1 half-bath, 2,484 sq ft townhouse. Broker comments are “This rare and hidden treasure located in a quiet enclave is within walking distance to town, hiking trails, and the free RFTA bus. This unique 4 unit townhome complex is located on a large peaceful and private south facing setting with magnificent Aspen Mtn. views on one side and Smuggler Mtn. on the other. Hickory floors, cherry and alder cabinets, marble and granite slab counters, Sub Zero refrigerator, Thermador professional duel fuel range stove, Kitchen Aid dishwasher, gas fireplace, steam shower, lovely landscaping and two Ipe decks for dining are some of the amenities. Its light filled interior, vaulted ceilings add spaciousness to this special gem. Lives like a single family home with an added bonus of lots of storage.” 2015 taxes: $4,142; HOA Dues: $2,300 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 07/25/2016; Sold Date: 10/18/2016. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
MLS #141636 – Central Core Commercial, 300 S Spring Street 102, Aspen, CO. Sold Price: $1,325,000/$1,194 sq ft. More details below photos.
MLS #141636 – Central Core Commercial, 300 S Spring Street 102, Aspen, CO. Sold Price: $1,325,000/$1,194 sq ft. Asking Price: $1,395,000. (Original Price: $1,395,000 and 1,794 days on the market since 05/03/2011.) This is a 1969 built, 1-5 units, 1,110 sq ft commercial industria on a 6,054 sq ft lot. This is a 1,110 sq ft office space unit. Broker comments are “Commercial space 1 block from City Market and across from the new Aspen Art Museum site in the heart of Aspen. Zoning allows for service or office in this superior bright 1st floor location.” 2014 taxes: $12,664; HOA Dues: $1,134 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 05/03/2016; Sold Date: 10/17/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #144213 – Gant, Central Core, 610 S West End Street G304, Aspen, CO. Sold Price: $1,325,000/$1,252 sq ft; furnished. More details below photos.
MLS #144213 – Gant, Central Core, 610 S West End Street G304, Aspen, CO. Sold Price: $1,325,000/$1,252 sq ft; furnished. Asking Price: $1,595,000. (Original Price: $1,695,000 and 158 days on the market since 05/09/2016.) This is a 1972 built, 2 bedroom/2 bath, 1,058 sq ft condo. Broker comments are “Top floor, prime location at The Gant. This condominium has it all- great top floor location with vaulted ceilings featuring views towards Independence Pass and Smuggler Mountain. Enjoy great morning light on the deck and cool afternoons looking east. Larger floor plan provides plenty of space for family and friends in the living area and each bedroom has an en suite bath. No cars, no crowds, just peace and quiet overlooking the back pool and grill area. Enjoy all of the amenities at Aspen’s Finest Condominium Resort including pool, hot tubs, exercise facility, shuttle service and on site concierge. The new conference center with café and roof deck has raised the bar once again for ski condominium properties. Sold furnished with great rental potential.” 2015 taxes: $3,812; HOA Dues: $26,810 per Yr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 08/20/2016; Sold Date: 10/14/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #141979 – Chateau Chaumont, Central Core, 731 E Durant Street, #23, Aspen, CO. Sold Price: $975,000/$965 sq ft; furnished. More details below photos.
MLS #141979 – Chateau Chaumont, Central Core, 731 E Durant Street, #23, Aspen, CO. Sold Price: $975,000/$965 sq ft; furnished. Asking Price: $1,049,000. (Original Price: $1,075,000 and 262 days on the market since 12/14/2015.) This is a 1968 built, 2 bedroom/2 bath, 1,010 sq ft condo. This is a very good value sale – the condo complex is near the redevelopment project of the Sky Hotel to break ground spring 2017. As an adjacent complex to the Sky, this property should benefit from the redevelopemet coat-tails the immediate area – within 1-block perimeter of the Gondola and Little Nell Hotel – will experience. Broker comments are “Prime location…just steps away from Aspen’s Silver Queen gondola. Corner unit that is light and bright. Easy access from Durant Street. Convenient for walking to downtown core shops and restaurants. Remodeled kitchen with granite counters. Full-size washer/dryer in unit. Chateau Chaumont offers heated garage parking and outdoor hot tub. Pets allowed. Great rental opportunity. 2nd room is non-conforming bedroom (with no egress/no window).” 2015 taxes: $2,053; HOA Dues: $2,247 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 08/06/2016; Sold Date: 10/14/2016. (Photos and broker comments courtesy of Leverich & Carr)
MLS #145479 – Columbine, Central Core, 801 E Hopkins Avenue 2, Aspen, CO. Sold Price: $950,000/$1,196 sq ft; unfurnished. More details below photos.
MLS #145479 – Columbine Condominiums, Central Core, 801 E Hopkins Avenue 2, Aspen, CO. Sold Price: $950,000/$1,196 sq ft; unfurnished. Asking Price: $1,075,000. (Original Price: $1,075,000 and 75 days on the market since 08/03/2016.) This is a 1976 built, 1 bedroom/1 bath, 794 sq ft unique condo. Broker comments are “This downtown unit has not been offered in over 35 years! Great views of Aspen Mountain, unusual fenced in back yard and patio, off-street parking, lots of light, and ready for a great remodel.” 2015 taxes: $1,887; HOA Dues: $6,000 per Yr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/17/2016; Sold Date: 10/17/2016. (Photos and broker comments courtesy of Palladium Properties)
MLS #145705 – Christiana Aspen, West End, 501 W Main Street A102, Aspen, CO. Sold Price: $470,000/$1,386 sq ft; unfurnished. More details below photos.
MLS #145705 – Christiana Aspen, West End, 501 W Main Street A102, Aspen, CO. Sold Price: $470,000/$1,386 sq ft; unfurnished. Asking Price: $480,000. (Original Price: $480,000 and 56 days on the market since 08/18/2016.) This is a 2003 built, 1 bath, 339 sq ft studio condo. Broker comments are “A charming studio apartment with mountain views. Great location with an easy walk or shuttle to downtown. The unit includes granite counter tops, stainless steel appliances, Murphy bed, stackable washer/dryer, central air conditioning and private tree lined patio. The Christiana complex features outside heated pool and hot tub, courtyards, on-site parking for one vehicle, and spacious indoor heated storage area.” 2015 taxes: $1,113; HOA Dues: $264 per Month. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 08/29/2016; Sold Date: 10/13/2016. (Photos and broker comments courtesy of Aspen Associates Realty)
MLS #140335 – Country Club, 477 Fairway Drive, Snowmass Village, CO: Sold Price: $2,420,000/$690 sq ft; unfurnished. More details below photos.
MLS #140335 – Country Club, 477 Fairway Drive, Snowmass Village, CO: Sold Price: $2,420,000/$690 sq ft; unfurnished. Asking Price: $2,650,000. (Original Price: $2,895,000 and 451 days on the market since 07/23/2015.) This is a 1977 built and 2007 remodeled, 4 bedroom/4 bath, 3,506 sq ft single family residence with 1 car gargae on a 7,643 sq ft lot. Broker comments are “Clean lines and big views define this beautiful 4 bedroom home in Country Club Estates. This home was newly remodeled in 2007 to create a soothing blend of clean mountain contemporary styling with iconic unobstructed views of Mt. Daly. Gracious open floor plan with floor to ceiling glass, elevator, A/C, media room, and an expansive outdoor patio & entertainment area complete with a fire pit & outdoor swim spa. Ideally located on the Snowmass Club golf course with easy access to the slopes at Two Creeks makes this property the perfect mountain lifestyle hub for any season. Home has an Accessory Employee Unit and is subject to Town of Snowmass Village code.” 2014 Taxes: $6,955; HOA Dues: TBD. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 08/16/2016; Sold Date: 10/18/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
No Photo Available in MLS for this Condo in Snowmass Village.
MLS #146412 – Interlude, 70 Gallun Lane 205-B, Snowmass Village, CO: Sold Price: $750,000/$811 sq ft; furnished. Asking Price: $795,000. (Original Price: $890,000 and 1,579 days on the market since 12/13/2010.) This is a 1972 built and 2004 remodeled, 2 bedroom/2 bath, 924 sq ft condo. Broker comments are “Exceptional Interlude condominium with ski-in/ski-out access and views up to the top of the mountain. This two-bedroom, two-bath unit was completely remodeled in 2004 with top-of-the-line finishes and is being sold furnished. An assigned, covered parking spot with additional storage unit and elevator access makes this wonderful, care-free ownership opportunity. Heat is included in the homeowner’s dues–pay only for electric and phone. Come see the new snowmelt driveway into the Interlude complex. It’s located only steps from the Snowmass Mall with restaurants and shopping. 1 pet allowed with board approval.” 2015 Taxes: $2,564; HOA Dues: $2,914 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 10/14/2016; Sold Date: 10/20/2016. (Photos and broker comments courtesy of Douglas Elliman Real Estate-SMV)
MLS #139876 – Stonebridge, 30 Anderson Lane #817, Snowmass Village, CO: Sold Price: $489,000/$682 sq ft; furnished. More details below photos.
MLS #139876 – Stonebridge, 30 Anderson Lane #817, Snowmass Village, CO: Sold Price: $489,000/$682 sq ft; furnished. Asking Price: $499,000. (Original Price: $567,000 and 489 days on the market since 06/18/2015.) This is a 1970 built and 2008 remodeled, 1 bedroom/1 bath, 716 sq ft condo. Broker comments are “A sunny property, decorated in a warm mountain style, with a prime location just off Fanny Hill. One of the best in the entire complex. Easy access to/from ski slopes. South-facing views across grassy courtyard to Sam’s Knob and to the Skittles lift. Stone, gas fireplace, huge balcony, and renovated kitchen and bath. Nearby elevator. Underground assigned parking. Assessments include heat. Beautiful pool, spa, fitness facility and other common amenities, including large owner storage locker off parking garage. Exceptionally well-managed by a staff who’s been there for years and takes great pride in the complex.” 2015 Taxes: $2,119; HOA Dues: $9,586 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 08/29/2016; Sold Date: 10/19/2016. (Photos and broker comments courtesy of BERKSHIRE HATHAWAY HomeServices | Aspen Snowmass Properties)
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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