The Estin Report Aspen Snowmass Real Estate Weekly Market Update – Closed (4) and Under Contract (3): Oct. 23 – 30, 11

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, it is likely 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

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Click image for executive summary and complete report pdf. Released Oct. 6, 2011

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 (3):MLS #s: 122056, 120763, 120194. This link is valid for 30 days until 11/29/11. Photos and descriptions of under contracts are not posted unless special circumstances or significance dictate.

Closed (4): MLS #’s: 121159, 121496, 122477, 121457. This link is valid for 30 days until 11/29/11.

Sold Aspen Snowmass Properties Last Week
MLS #121496 – Aspen, East Aspen single-family home, 521 McSkimming Road, Aspen, CO: Sold Price: $3,225,000/$885 sq ft partially furnished. More details below photos.

MLS #121496 – Aspen, East Aspen single-family home, 521 Mcskimming Road, Aspen, CO: Sold Price: $3,225,000/$885 sq ft partially furnished. (Original Price: $4,495,000 and 134 days on the market since 06/09/2011.) This 1960 built/2005 remodeled East Aspen single-family home has 3 bedrooms/3 baths/1 half bath, 3 car garage, 3,641 sq ft. Broker comments are, “Fabulous Fritz Benedict designed home in the style of Frank Lloyd Wright’s Fallingwater masterpiece. Built naturally into the heavily treed hillside and adjacent to BLM, this is an iconic mid-century modern period piece that has been lovingly restored and updated with all the modern conveniences. Large glass windows throughout take advantage of views from Independence Pass to downtown Aspen to Mount Sopris. An art lover’s dream come true.” 2010 Taxes: $9,883. Under Contract Date: 07/22/2011; Sold Date: 10/21/2011. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. (Photos and broker comments courtesy of SDS Real Estate, Inc.)

MLS #122477 – Snowmass Village, Horse Ranch Subdivision, 1314 Horse Ranch Drive, Snowmass Village, CO: Sold Price: $3,600,000/$720 sq ft partially furnished. More details below photos.

MLS #122477 – Snowmass Village, Horse Ranch Subdivision, 1314 Horse Ranch Drive, Snowmass Village, CO: Sold Price: $3,600,000/$720 sq ft partially furnished. (Original Price: $3,995,000 and 66 days on the market since 08/19/2011.) This 1998 built single-family home in Horse Ranch Subdivision has 5 bedrooms/5 baths/1 half bath, 2 car garage, 4,996 sq ft. Broker comments are, “An elegant, contemporary mountain home at the top of this lovely neighborhood. Gorgeous views from almost every room of all 4 ski areas. Beveled glass front entry doors. Hardwood floors in main living areas. Huge kitchen with granite counters, stainless appliances, wine cooler. Informal and formal dining areas. Master and guest master suites on main level – family room and guest bedrooms on lower level. Great family floor plan. Spa and many outdoor living spaces. Located at end of quiet cul-de-sac.” 2010 Taxes: $12,409; HOA Dues: $190 Yr. Under Contract Date: 09/12/2011; Sold Date: 10/24/2011. Town of Snowmass Transfer Tax of approx. 1% payable by buyer. (Photos and broker comments courtesy of B.J. Adams & Co.)

MLS #121457 – Aspen, East Aspen single-family home, 1404 Crystal Lake Road (Aspen Club Rd), Aspen, CO: Sold Price: $6,675,000/$1,259 sq ft furnished. More details below photos.

MLS #121457 – Aspen, East Aspen single-family home, 1404 Crystal Lake Road, Aspen, CO: Sold Price: $6,675,000/$1,259 sq ft furnished. (Original Price: $8,300,000 and 150 days on the market since 05/31/2011.) This 2002 built single-family home in East Aspen has 4 bedroom/4 baths/1 half bath, 2 car garage, 5,300 sq ft. Broker comments are, “Beautiful proportions create harmony in this elegantly appointed and furnished 4 BR stone and timber residence. Timeless architecture is enhanced by hand trowel finishes, rock facings and limestone floors. Reclaimed 150 year old beams frame the 28 Ft Great Room ceiling. Lush landscaping complements the private mountain setting – minutes from the gondola. The house features a fully equipped chef’s kitchen with sunny breakfast alcove, library & media center, master suite w/sitting room and terrace; 3 additional bedrooms w/en-suite baths. Stone terraces, spa hot tub, 4 fireplaces, sky lighting and a heated 2 car garage complete a perfect package. Warning: Don’t come to look unless you’re prepared to fall in love.” 2010 Taxes: $12,409; HOA Dues: $1,649 Yr. Under Contract Date: 09/14/2011; Sold Date: 10/28/2011. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. (Photos and broker comments courtesy of Morris & Fyrwald, Sotheby’s Intl Realty.)

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 to his 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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