Oct. 9 – 16, 2011: Aspen Snowmass Real Estate Weekly Market Update Report: Closed (9) and Under Contract (3)

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

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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 ):122556, 122449, 114243. This link is valid for 30 days until 11/16/11. Photos and descriptions of under contracts are not posted unless special circumstances or significance dictate.

Closed (9): MLS #’s: 121213, 121923, 116298, 122036, 121591, 102279, 120156, 107704,123003. This link is valid for 30 days until 11/16/11.

Sold Aspen Snowmass Properties Last Week

MLS #121213 – West Aspen, East Owl Creek single-family home, 800 Cluny Road, Aspen, CO:Sold Price: $5,150,000/$947 sq ft unfurnished. More details below photos.

MLS #121213 – West Aspen, East Owl Creek single-family home, 800 Cluny Road, Aspen, CO: Sold Price: $5,150,000/$947 sq ft unfurnished; Ask Price: $5,995,000. (Original Price: $5.995,000 and 872 days on the market since 05/19/2009.) This Owl Creek single-family home has 4 bedrooms/4 baths/1 half bath, 5,437 square feet with 2 car garage. Broker comments are, “Fantastically situated on 4 private acres and adjacent to 100 acres of open space where wildlife abounds, this beautiful home features 4 bedrooms, 4.5 baths, 5437 square feet, open floor plan, expansive windows, no sub-grade space, main level master suite, large two car garage, patios & outdoor spaces for entertaining, seasonal pond & irrigation water, and mature landscaping ripe with wildflowers & perennials for color all summer long. The south-facing views of Snowmass ski area & Mt. Daly are spectacular & dramatically displayed, while a tranquil pond next to the home can be used to irrigate the large lawn that is great for outdoor games. Conveniently located between Aspen & Snowmass for a rural feel, yet just minutes to both. Priced to sell at land value.” 2010 Taxes: $16,978; HOA Dues: $4,000 Yr. Under Contract Date: 08/11/2011; Sold Date: 10/11/2011. (Photos and description courtesy of Morris & Fyrwald, Sotheby’s Intl. Realty.)

MLS #121923 – Snowmass Village Country Club townhome, 701 Snowmass Club Circle #86, Snowmass Village, CO:Sold Price: $2,725,000/$876 sq ft furnished. More details below photos.

MLS #121923 – Snowmass Village Country Club townhome, 701 Snowmass Club Circle #86, Snowmass Village, CO: Sold Price: $2,725,000/$876 sq ft furnished; Ask Price: $2,985,000. (Original Price: $2,985,000 and 94 days on the market since 07/01/2011.) This Country Club townhome has 5 bedrooms/4 baths/1 half bath, 3,110 square feet with 2-car garage. Broker comments are, “CCTH 86 is situated on the hill & has panoramic views from the 2 Creeks Ski Slopes to Mt. Daly with north views over the Snowmass Golf Course & the meadows of Horse Ranch. Within this complex, this townhome boasts the largest private yard with an expansive stone patio & hot tub, plus spacious decks on the N & S sides. It features 2 master bedroom suites with steam showers and Jacuzzi tubs – Upper suite includes a 112 sq. ft. walk-through closet to a gorgeous master bath, Lower level master is perfect for your VIP guests. Additionally, CCTH 86 includes a 400-bottle temperature-controlled wine room. The owner totally renovated & remodeled with high-end finishes throughout in 2007 – there is no other Country Club Townhome like it…impeccably done!” 2010 Taxes: $8,564; HOA Dues: $12,060 Yr. Under Contract Date: 08/29/2011; Sold Date: 10/03/2011. Town of Snowmass Transfer Tax of approx. 1% payable by buyer. (Photos and description courtesy of Chaffin Light Real Estate.)

MLS #116298 – Old Snowmass, Little Elk Creek single-family home, 262 Haystack Lane, Old Snowmass, CO:Sold Price: $1,270,000/$271 sq ft unfurnished. More details below photos.

MLS #116298 – Old Snowmass, Little Elk Creek single-family home, 262 Haystack Lane, Old Snowmass, CO: Sold Price: $1,270,000/$271 sq ft unfurnished; Ask Price: $1,395,000. (Original Price: $2,295,000 and 516 days on the market since 05/13/2010.) This Old Snowmass single-family home has 5 bedrooms/4 baths, 4,677 square feet with 2 car garage. Broker comments are, “Contemporary materials meet old world charm in this sunny home, built by its owners. Close to Aspen, at the end of a cul-de-sac, surrounded by expansive views and bucolic ranchland with a babbling creek flowing gently through and beautiful hikes and bike rides all around. You will never want to leave. It’s Switzerland in the Rockies with 360 degree views across rolling ranchland to snow capped peaks.” 2010 Taxes: $8,929; HOA Dues: $545 Qtr. Under Contract Date: 09/02/2011; Sold Date: 10/11/2011. (Photos and description courtesy of Chaffin Light Real Esate.)

MLS #122036 – West End Aspen, Aspen Villas townhome, 814 Bleeker Street, #E-6, Aspen, CO: Sold Price: $903,333/$642 sq ft partially furnished. More details below photos.

MLS #122036 – West End Aspen, Aspen Villas townhome, 814 Bleeker Street, #E-6, Aspen, CO: Sold Price: $903,333/$642 sq ft partially furnished; Ask Price: $997,500. (Original Price: $997,500 and 87 days on the market since 07/16/2011.) This Aspen Villas townhome has 3 bedrooms/2 baths, 1,406 square feet. Broker comments are, “An extraordinary 3-bedroom townhome value just a few minutes from the core of Aspen. Recently renovated with new kitchen, new baths, and wood flooring and featuring additional windows and an extended patio deck privately set in the trees. Also new HVAC and roof. Adjacent assigned off-street parking. A very quiet property in one of the best locations in this West Bleeker Place neighborhood, with views through the trees of Shadow Mtn, Buttermilk and Highlands. Near bike path and easy walk to music tent or to town. Around the corner from shuttle bus stop to all ski areas.” 2010 Taxes: $2,463; HOA Dues: $1,500 Qtr. Under Contract Date: 08/24/2011; Sold Date: 10/11/2011. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. (Photos and description courtesy of B.J. Adams & Company.)

MLS #121591 – Snowmass Village, Country Club Villas condo, 240 Snowmass Club Circle #1439, Snowmass Village,CO: Sold Price: $815,000/$587 sq ft furnished. More details below photos.

MLS #121591 – Snowmass Village, Country Club Villas condo, 240 Snowmass Club Circle #1439, Snowmass Village, CO: Sold Price: $815,000/$587 sq ft furnished; Ask Price: $875,000. (Original Price: $875,000 and 114 days on the market since 06/20/2011.) This Country Club Villas condo has 2 bedrooms/2 baths and 1 car garage, 1,388 square feet. Broker comments are, “‘Best of the Country Club Villas’ Beautiful top floor, corner Penthouse in the 1400 building with extremely high ceilings in both living area and master bedrooms. Price includes ‘rare’ ONE CAR GARAGE. Spacious two bedrooms, two baths with large master and big south facing deck overlooking the golf course and ski area. Non rental for past 20 years. High end Ralph Lauren furniture included. Priced to sell quickly!” 2010 Taxes: $4,292; HOA Dues: $3,374 Qtr. Under Contract Date: 08/11/2011; Sold Date: 10/12/2011; Town of Snowmass Transfer Tax of approx. 1% payable by buyer. (Photos and description courtesy of Five Star Properties of Aspen & Snowmass LLC.)

MLS #122079 -Snowmass Village, Sinclair Meadows single-family vacant lot, 305 Gambel Way (Lot 15), Snowmass Village, CO: Sold Price: $625,000. More details below photo.

MLS #122079 -Snowmass Village, Sinclair Meadows single-family lot, 305 Gambel Way (Lot 15), Snowmass Village, CO: Sold Price: $625,000; Ask Price $695,000. (Original Price: $695,000 and 85 days on the market since 07/20/2011.) This 15,188 sq ft Sinclair Meadows single-family lot is located on a cul-de-sac and has city water and sewer. Broker comments are, “Views over the Snowmass Club and down the valley.” 2010 Taxes: $9,797; HOA Dues: $2,688 Yr. Under Contract Date: 08/26/2011; Sold Date: 10/13/2011; Town of Snowmass Transfer Tax of approx. 1% payable by buyer. (Photos and description courtesy of Chaffin Light Real Estate.)

MLS #120156 – Snowmass Village, Meadow Ranch duplex, 231 Bunting Court, Snowmass Village, CO: Sold Price: $535,000/$306 sq ft furnished. More details below photos.

MLS #120156 – Snowmass Village, Meadow Ranch duplex, 231 Bunting Court, Snowmass Village, CO: Sold Price: $535,000/$306 sq ft furnished; Ask Price: $635,000. (Original Price: $689,000 and 859 days on the market since 06/20/2009.) This Meadow Ranch duplex has 3 bedrooms/2 baths/1 half bath, 1,745 square feet. Broker comments are, “Duplex with lots of space–3 bedrooms plus a den area. Great for a family! New roof in 2010. Views towards Mt. Daly from den. Sunny deck. Close to ski slopes and golf course. Steps away from the shuttle bus.” 2010 Taxes: $3,669/HOA Dues: $1,175 Qtr. Under Contract Date: 08/10/2011; Sold Date: 10/11/2011. Town of Snowmass Transfer Tax of approx. 1% payable by buyer. (Photos and description courtesy of Morris & Fyrwald, Sotheby’s Intl Realty.)

MLS #107704 – Snowmass Village, Woodbridge condo, 35 Upper Woodbridge Road #3-Ab, Snowmass Village, CO: Sold Price $345,000/$379 sq ft furnished. More details below photos.

MLS #107704 – Snowmass Village, Woodbridge condo, 35 Upper Woodbridge Road #3-Ab, Snowmass Village, CO: Sold Price $345,000/$379 sq ft furnished; Ask Price $369,000. (Original Price: $695,000 and 1,108 days on the market since 09/30/2008.) This Woodbridge condo has 2 bedrooms/2 baths and common parking area, 910 square feet. Broker comments are, “Cozy two bedroom Woodbridge condo that is close to everything, on the shuttle route and stunning year round views.” 2010 Taxes: $1,824; HOA Dues: $2,100 Qtr. Under contract Date: 08/30/2011; Sold Date: 10/13/2011. Town of Snowmass Transfer Tax of approx. 1% payable by buyer. (Photos and description courtesy of Chaffin Light Real Estate.)

MLS #123003 – Central core, Aspen duplex, 855 Gibson Avenue Unit A, Aspen, CO: Sold Price: $5,173,000/$880 sq ft furnished. More details below photo.

MLS #123003 – Central core, Aspen duplex, 855 Gibson Avenue Unit A, Aspen, CO: Sold Price: $5,173,000/$880 sq ft furnished; Ask Price: $5,500,000. (Sold before entry into MLS) Original Price: $5,500,000 and 26 days on the market since 05/19/2009.) This Aspen duplex has 5 bedrooms/6 baths/1 half bath, 5,878 square feet with 2 car garage. This property went under contract the same day it was listed for sale. 2010 Taxes: $13,072. Under Contract Date: 09/15/2011; Sold Date: 10/11/2011. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. (Photos and description courtesy of Whitman Fine Properties.)

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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