The Estin Report Aspen Snowmass Real Estate Weekly Market Update: Closed (6) and Under Contract (9): Oct. 2 – 9, 2011

Tim Estin is an active Aspen real estate broker with Mason Morse located in the center of Aspen. This blog, www.AspenRealEstateBlog.com or Tim Estin’s blog, is released Monday mornings and sometimes in-between. The Estin Reports are released quarterly or semi-annually, annually and also special reports. For blog archives, scroll to bottom of this page and search by date or topic. Or search this site in SearchEstinAspen.com on the menu bar. If it’s about Aspen real estate, chances are there’s something about it here. Follow @EstinAspen on twitter for Aspen Snowmass real estate news, market updates, statistics, commentary and reports or subscribe to RSS feeds with the button on the left.

The Estin Report: 3rd Quarter 2011 (July 1 – Sept. 30, 2011)
State of the Aspen Real Estate Market

Click image

Click image for executive sumary and complete report pdf. Released Oct. 6, 2011 (v12)

Last Week’s Market Highlights –Aspen Snowmass real estate weekly sales statistics and under contract activity appears below for all Aspen, Snowmass Village, Woody Creek and Old Snowmass properties over $250,000 in the upper Roaring Fork Valley excluding fractionals. Because the MLS links below expire after 30 days, photos and written descriptions of closed properties with excellent photography are posted here to preserve a public archive of sold market activity. For past sales, scroll to page bottom and search by time period.

Under Contract / Pending (9): MLS #119497, 121405, 121821, 120871, 122055, 119937, 121184, 122493. This link is valid for 30 days until 11/7/2011. Photos and descriptions of under contract properties are not posted unless special circumstances dictate.

Closed (6): MLS #119387, 121002, 121660, 107808, 122920, 115609. This link is valid for 30 days until 11/7/2011.

Select Sold Aspen Snowmass Properties Last Week

MLS #121660 – Downtown core, Obermeyer Place, Aspen condo, 501 Rio Grande Place #204, Aspen, CO: Sold Price: $4,560,000/$1,556 sq ft furnished. More details below photos.

MLS #121660 – Downtown core, Obermeyer Place, Aspen condo, 501 Rio Grande Place #204, Aspen, CO: Sold Price: $4,560,000/$1,556 sq ft furnished; Ask Price: $4,995,000. (Original Price: $4,995,000 and 72 days on the market since 6/23/2011.) This top floor Obermeyer Place condo with views of Aspen Mountain has 4 bedrooms/4 baths/1 half bath, 2,930 square feet with 2-car garage. Brokers comments are, “a fabulous location within walking distance to everything! Features include 12 foot ceilings, hardwood floors, gourmet kitchen with wine cooler & warming drawer, air conditioning, custom gas fireplaces,heated bathroom floors, Jacuzzi tub & steam shower in master bath, private & covered balcony with custom BBQ & snowmelt floor, underground 2 car garage with elevator to the condo, storage unit and landscaped grounds with pedestrian walkways & paths. Likely the best condo in the entire complex!” 2010 Taxes: $10,405; HOA Dues: $4,082 Qtr. Under Contract Date: 08/01/2011; Sold Date: 10/05/2011. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. (Photos and description courtesy of Morris & Fyrwald, Sotheby’s Intl. Realty.)

MLS #107808 – Central core riverfront Aspen townhome, 1035 E. Durant Avenue #1, Aspen, CO: Sold Price: $4,600,000/$1,081 sq ft furnished. More details below photos.

MLS #107808 – Central core riverfront Aspen townhome, 1035 E. Durant Avenue #1, Aspen, CO: Sold Price: $4,600,000/$1,081 sq ft furnished; Ask Price: $5,100,000. (Original Price: $6,595,000 and 1,084 days on the market since 10/10/2008.) This property would have sold 2-3 years ago at the price it closed at had seller responded to what the market was saying – similar townhome(s) were selling in the $1000-$1,100 sf range. This 3 floor River Glen condo situated on the Roaring Fork River has 5 bedrooms/5baths, 4,255 square feet with common garage. No broker comments. Built in 2000, additional features include hot tub on the lower deck, ski storage locker and elevator. 2010 Taxes: $15,682; HOA Dues: $13,495 Yr. Under Contract Date: 08/30/2011; Sold Date: 09/29/2011. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. (Photos and description courtesy of Chaffin Light Real Estate.)

MLS #119387 – Downtown Aspen Square condominium, 617 E. Cooper Avenue #309, CO: Sold Price: $600,000/$1,209 sq ft furnished:

MLS #119387 – Downtown Aspen Square condominium, 617 E. Cooper Avenue #309, CO: Sold Price: $600,000/$1,209 sq ft furnished; Ask Price: $795,000. (Original Price: $895,000 and 266 days on the market since 01/12/2011.) This third floor Aspen Square condo has 1 bedroom/1 bath, 496 square feet with common garage. No broker comments. 2010 Taxes $2,326; HOA Dues: $17,922 Yr. Under Contract Date: 09/06/2011; Sold Date: 10/05/2011. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. (Photos and description courtesy of Aspen Real Estate Company.)

MLS #121002 – East End Aspen single family house, 18 Roaring Fork Drive, Aspen, CO: Sold Price: $1,100,000/$328 sq ft unfurnished:

MLS #121002 – East End Aspen, Mountain Valley area, single family house, 18 Roaring Fork Drive, Aspen, CO: Sold Price: $1,100,000/$328 sq ft unfurnished; Ask Price: $1,100,000. (Original Price: $1,100,000 and 372 days on the market since 09/28/2010.) This is a distressed sale of a single family east end Aspen house has 5 bedrooms/5 baths, 3,345 square fee with a 1-car garage. Additional features include a large corner lot and patio/deck. 2010 Taxes: $8,023; HOA Dues: N/A. Under Contract Date: 05/16/2011; Sold Date: 09/19/2011. (Photos and description courtesy of Manifest Brokerage.)

Links to recent market articles and report:
“Sales of Colorado Mountain Resort Homes in July Lowest in Years”, 09/09/11 Business Section, Denver Post
“Mega-mansion Deals Spur Rebound in Aspen Market”, 07/17/11 Sunday Business, Grand Junction Sentinel
The Estin Report: 1st Half 2011 State of the Aspen Market
(released 07/14/11)

Tim Estin welcomes your business, inquiries and comments. Email him or call 970.920.7387. Subscribe to The Estin Report and Tim Estin’s AspenRealEstateBlog.com on twitter @EstinAspen by clicking “Join the conversation” button below or click subscribe button in the menu bar on left:

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