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. The Oct 2016 Snapshot will be posted late Tus 11/1 or Wed 11/2.
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 43, October 23 – 30, 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 (12):MLS#s 142103, 142349, 141912, 132382, 134311, 138805, 140139, 142464, 143315, 145634, 145966, 146502.This link is valid until 11/29/2016.
Under Contract/Pending (6):MLS#s 133391, 143889, 143949, 144957, 145063, 145264.This link is valid until 11/29/2016.
Aspen Snowmass Solds Last Week:
MLS #134311 – West End, 323 N Fifth Street, Aspen, CO. Sold Price: $5,375,000/$1,536 sq ft; unfurnished. More details below photos.
MLS #134311 – West End, 323 N Fifth Street, Aspen, CO. Sold Price: $5,375,000/$1,536 sq ft; unfurnished. Asking Price: $5,499,000. (Original Price: $6,200,000 and 889 days on the market since 05/21/2014.) This is a 1996 built and 2008 remodeled, 3 bedroom/4 bath/1 half-bath, 3,499 sq ft single family residence with 1 car garage on a 4,500 sq ft corner lot. Broker comments are “Can easily be converted to a 4th bedroom….Stroll to the Music Tent or walk to town for dinner. Quintessential West End home located on the corner of Francis and Fifth Street. Offering all the amenities of a luxury home with an amazing upstairs dedicated to the master suite. From the master balcony, relax with a good book while drinking in views of Smuggler Mountain, Aspen Mountain, Shadow Mountain, and the backside of Highlands Bowl. Lower level can be converted to 4th bedroom and family room. Architects drawing available” 2013 taxes: $11,053. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/23/2016; Sold Date: 10/26/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #140139 – Aspen Grove vacant lot, East Aspen, 287 Mcskimming Road, Aspen, CO. Sold Price: $3,000,000. More details below photos.
MLS #140139 – Aspen Grove vacant lot, East Aspen, 287 Mcskimming Road, Aspen, CO. Sold Price: $3,000,000. Asking Price: $3,295,000. (Original Price: $3,575,000 and 1,176 days on the market since 07/26/2013.) This is a 31,720 sq ft single family vacant lot. Broker comments are “Almost an acre of land with big views, privacy and the ability to build more program than most lots in the jurisdiction of the City of Aspen. This flat building site is situated on a bench and has major views of Aspen Mountain, the City of Aspen, Mt. Sopris and beyond. Conveniently located just a couple of minutes from the central core and serviced by Dial-A-Ride. Check out plans, site plan and landscaping under the ”Documents” tab.” 2015 taxes: $26,814. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/13/2016; Sold Date: 10/24/2016. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
MLS #138805 – River Bluff, Smuggler, 155 Lone Pine Road C-2, Aspen, CO. Sold Price: $2,647,000/$1,466 sq ft; furnished. More details below photos.
MLS #138805 – River Bluff, Smuggler, 155 Lone Pine Road C-2, Aspen, CO. Sold Price: $2,647,000/$1,466 sq ft; furnished. Asking Price: $2,647,000. (Original Price: $2,695,000 and 494 days on the market since 04/30/2015.) This is a 1980 built and 2012 remodeled, 3 bedroom/3 bath, 1,805 sq ft townhouse with 2 car garage. Broker comments are “Steeped in sunlight from bountiful south-facing windows, this townhome lives big and emanates a warm, lodge feeling that is perfect for family gatherings. Majestic Ajax views, soaring pine-log ceilings, and comfortable, Mountain West furnishings mark this as your true Colorado home. A magnificent master suite invites you to steal away, while a private flagstone patio beckons you outdoors. The rare, two-car garage is quite the added bonus. An easy trip into town and to the ski slopes. Grab this one as your personal family lodge, year-round residence, or as a short- or long-term rental.” 2015 taxes: $6,705; HOA Dues: $1,400 per Month. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 08/22/2016; Sold Date: 10/20/2016. (Photos and broker comments courtesy of Berkshire Hathaway HomeServices | Aspen Snowmass Properties)
MLS #143315 – Mountain Valley, East Aspen, 143 E Lupine Drive, Aspen, CO. Sold Price: $2,075,000/$924 sq ft; unfurnished. More details below photos.
MLS #143315 – Mountain Valley, East Aspen, 143 E Lupine Drive, Aspen, CO. Sold Price: $2,075,000/$924 sq ft; unfurnished. Asking Price: $2,400,000. (Original Price: $2,850,000 and 230 days on the market since 03/05/2016.) This is a 1966 built, 3 bedroom/3 bath, 2,571 sq ft single family residence on a 20,022 sq ft lot. Broker comments are “Impeccably maintained single family one mile from City Market. Easy bus access. Large lot. Beautiful gardens and trees. Wood fireplace, Vulcan range, Subzero refrigerator, light and bright interior, great sunny views of Aspen Mountain, spacious redwood deck for grilling and sunsets. Best value in Aspen School District!” 2015 taxes: $3,442; HOA Dues: $200 per Yr. Under Contract Date: 09/09/2016; Sold Date: 10/21/2016. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
MLS #145634 – Aspen Villas, West End, 814 W Bleeker Street B-2, Aspen, CO. Sold Price: $1,225,000/$871 sq ft; unfurnished. More details below photos.
MLS #145634 – Aspen Villas, West End, 814 W Bleeker Street B-2, Aspen, CO. Sold Price: $1,225,000/$871 sq ft; unfurnished. Asking Price: $1,250,000. (Original Price: $1,250,000 and 49 days on the market since 08/15/2016.) This is a 1972 built and 2014 remodeled, 3 bedroom/2 bath, 1,405 sq ft condo. Broker comments are, “Privacy, trees, even a small stream running by your back door and all just minutes from the center of town. Aspen Villas, formerly known as West Bleeker Street, is a small condo complex just outside of the central core. Recently upgraded with a new master bathroom, new doors, new kitchen counters and backsplash, new fireplace surround, new cherry shelving in the living area and new flooring on the main level, this beautiful 3 bedroom/2 bath condo is priced to sell as the Owner has found a replacement property. B2 is located away from 82 and is surrounded on one side by trees and the seasonal stream. One dog is permitted by Owner or Renter, Aspen School District and there are no rental restrictions.” 2016 taxes: $2,406; HOA Dues: $1,700 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/16/2016; Sold Date: 10/26/2016. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-SMV)
No Photo Available in MLS for this townhouse in West Aspen.
MLS #146502 – Aspen Airport Business Center, West Aspen, 319 Aabc 300 7 N & P, Aspen, CO. Sold Price: $735,000/$546 sq ft. Asking Price: $735,000. (Original Price: $735,000 and on the market since 10/25/2016.) This is a 1982 built, 2 bedroom/2 bath, 1,344 sq ft townhouse. This is a deed restrcted property with Aspen Housing Authority (apcha.org) restrictions regarding Pitkin County residency. Broker comments are “SOLD BEFORE LISTED” 2015 taxes: $2,090. Under Contract Date: 10/25/2016; Sold Date: 10/25/2016. (Photos and broker comments courtesy of FSBO)
MLS #142349 – Gavilon, Central Core, 935 E Hopkins Avenue Unit #4, Aspen, CO. Sold Price: $660,000/$1,189 sq ft; furnished. More details below photos.
MLS #142349 – Gavilon, Central Core, 935 E Hopkins Avenue Unit #4, Aspen, CO. Sold Price: $660,000/$1,189 sq ft; furnished. Asking Price: $699,000. (Original Price: $749,000 and 286 days on the market since 01/14/2016. Seller paid $695,000 on 11/07/14.) This is a 1972 built and 2013 remodeled, 1 bath, 555 sq ft condo. Broker comments are “This stylish downtown Aspen studio was completely remodeled with hand scraped, radiant heated teak floors, custom cabinets, mosaic glass tile, and granite countertops. Dual south facing glass sliders walk out to a back yard patio and green space…The quiet and well maintained complex of only twelve units boasts low HOA fees and off street parking. Pets are allowed for owners with approval. The Roaring Fork River and Hopkins Ave. pedestrian bridge with easy access to Smuggler Mountain are nearby. It is only three blocks to the Silver Queen Gondola and walking distance to Aspen’s best dining and shopping. The new Aspen Art Museum is just two blocks away. Additional storage is located off of the common hallway. Sold fully furnished.” 2015 taxes: $1,645; HOA Dues: $1,064 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/09/2016; Sold Date: 10/26/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #142464 – Hunter Creek, Smuggler, 1112 Vine Street Unit 1112, Aspen, CO. Sold Price: $427,500/$735 sq ft. More details below photos.
MLS #142464 – Hunter Creek, Smuggler, 1112 Vine Street Unit 1112, Aspen, CO. Sold Price: $427,500/$735 sq ft. Asking Price: $433,500. (Original Price: $460,000 and 258 days on the market since 01/26/2016.) This is a 1980 built, 1 bedroom/1 bath, 581 sq ft condo. Broker comments are “Walking distance to downtown Aspen, this one-bedroom lower level condo in Hunter Creek could be your perfect Aspen pied-a-terre. Complex boasts pool, tennis courts and reasonable HOA dues. This unit is located on the main level and features a patio walkout facing North towards the tennis courts and common area.” 2015 taxes: $817; HOA Dues: $246 per Month. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 08/22/2016; Sold Date: 10/21/2016. (Photos and broker comments courtesy of Stirling Peak Properties, LLC)
MLS #132382 – Lazy O Ranch, 2322 Lazy O Road, Old Snowmass, CO: Sold Price: $2,370,500/$359 sq ft; unfurnished. More details below photos.
MLS #132382 – Lazy O Ranch, 2322 Lazy O Road, Old Snowmass, CO: Sold Price: $2,370,500/$359 sq ft; unfurnished. Asking Price: $2,650,000. (Original Price: $3,960,000 and 1,055 days on the market since 07/24/2013.) This is a 1997 built and 2000 remodeled, 5 bedroom/5 bath/1 half-bath, 6,595 sq ft single family residence with 3 car garage on a 7.02 acres lot. There is a reason for this considerable discount and the appearance of a staggering deal: the property requires a lot of deferred maintenance work and it is a large remodel or redevelopment project. It is a “huge” dated home with large, vast rooms. It feels like it could be a used as a corporate retreat. The value of the land was far easier to value than the structure – sales comps were negligible.. Broker comments are “Nestled on a beautiful and private knoll in Lazy O Ranch, this traditional home is on approx 7 acres with expansive views and great outdoor space. Features include 5 bedrooms, 5.5 baths, 6,595 sqft, 3 car garage, a main level Master Suite with hers/his walk-in closets and a gas fireplace, ample spaces for family & guests, an expansive and well-appointed kitchen with granite counter tops & custom cabinetry, formal dining room, great room with vaulted ceilings and a wood fireplace, a generous office, a family/media room, abundant storage and 3 equal guest suites. Outdoor highlights include extensive landscaping with sprinklers, backyard hot tub, patio and lawn area for entertaining & a front deck overlooking Lazy O’s valley.” 2015 Taxes: $17,165; HOA Dues: $16,000 per Yr. Under Contract Date: 08/30/2016; Sold Date: 10/20/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Snowmass Village)
MLS #142103 – Ridge Run, 44 Ridge Road, Snowmass Village, CO: Sold Price: $4,525,000/$1,126 sq ft; furnished. More details below photos.
MLS #142103 – Ridge Run, 44 Ridge Road, Snowmass Village, CO: Sold Price: $4,525,000/$1,126 sq ft; furnished. Asking Price: $4,750,000. (Original Price: $4,895,000 and 306 days on the market since 12/24/2015.) This is a 2016 built, 5 bedroom/5 bath/1 half-bath, 4,018 sq ft single family home with 3 car gargae on a 19,602 sq ft lot, almost 1/2 acre. Broker comments are “Beautifully designed and newly built, this Ridge Run home in Snowmass Village has everything you’d want in a mountain home. With 5 bedrooms and 5 and one-half baths, there is plenty of room for family and friends. Kick back in the media room and enjoy an apres ski cocktail on the open patio. Soak in the mountain views and direct vista of Mt. Daly from the living room. Enjoy the private yard and massive amounts of trees surrounding the property. Ski back to the home utilizing the private ski trails of the Ridge Condominiums. This is the only single-family home to enjoy membership and access to the Ridge Condominiums including hot tub spa, heated pool, work out facility and ski-in/out access to Assay Hill.” 2015 Taxes: $4,066; HOA Dues: see addendum per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 09/19/2016; Sold Date: 10/25/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Snowmass Village)
MLS #141912 – Chamonix, 476 Wood Road #20, Snowmass Village, CO: Sold Price: $732,500/$583 sq ft; furnished. More details below photos.
MLS #141912 – Chamonix, 476 Wood Road #20, Snowmass Village, CO: Sold Price: $732,500/$583 sq ft; furnished. Asking Price: $797,000. (Original Price: $797,000 and 323 days on the market since 12/08/2015.) This is a 1985 built and 2015 remodeled, 2 bedroom/2 bath, 1,256 sq ft condo. Broker comments are “A beautifully redecorated, 2-story townhome, unique to The Chamonix. No unit above, below or adjacent. Three decks – sunny views through aspens of the top of Sam’s Knob and tip of Mt. Daly. Very private and quiet. Vaulted ceilings and 3 walls of windows bring the outside in. Solarium dining room. Rated ‘Exceptional’, the highest rating, by Snowmass Lodging Company. Elevator access to entry foyer directly from assigned space in garage. Easy access to ski room and to the Funnel ski trail, gondola midstation, Base Village. Property is not being rented this winter so easy to show any time.” 2015 Taxes: $2,827; HOA Dues: $26,985 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 09/21/2016; Sold Date: 10/26/2016. (Photos and broker comments courtesy of BERKSHIRE HATHAWAY HomeServices | Aspen Snowmass Properties)
MLS #145966 – Viceroy, 130 Wood Road 516, Snowmass Village, CO: Sold Price: $407,700/$739 sq ft; furnished. More details below photos.
MLS #145966 – Viceroy, 130 Wood Road 516, Snowmass Village, CO: Sold Price: $407,700/$739 sq ft; furnished. Asking Price: $453,000. (Original Price: $453,000 and 46 days on the market since 09/08/2016.) This is a 2010 built, 1 bedroom/1 bath, 551 sq ft condo. Broker comments are “Enjoy luxurious amenities and whole ownership at The Residences Viceroy Snowmass. This is resort living at its best! Located in Snowmass Base Village, Leed Gold certified Viceroy Snowmass offers it all: sophisticated and lavishly appointed residences; ski-in/ski-out access; award-winning Wellness Spa; highly-acclaimed Eight K and Nest restaurants; all-season, full-service outdoor pool and hot tub area; together with the refined level of service that the Viceroy is known for worldwide. Property awards include Travel + Leisure Top 50 Hotels for Families, Conde Nast Traveler Gold List 2015, Conde Nast Best Resorts 2014, and Travel + Leisure World’s Best Award 2014. Please contact the listing agent for information on our experienced preferred lenders.” 2015 Taxes: $ 3,299; HOA Dues: $3,715 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 09/07/2016; Sold Date: 10/24/2016. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-SMV)
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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