The Estin Report: Sep 2015 Aspen Snowmass Market Snapshot wasposted 10/04/15 inCurrent Reports.The Snapshots are released on or near the 1st Monday of the month.

As an indicator of the market’s present strength, the Aspen Times reported that as of 2PM Fri Oct 9, 2015 “October’s total sales volume in Pitkin County was nearly $85 million, according to the Pitkin County Clerk and Recorder’s Office. October 2014 registered $149.5 million in total real estate sales. The strongest October since 2010 rang up $194 million.”

Separately, the Aspen Daily News reported on Oct 10th that “”Housing and Wheeler real estate transfer tax collections (payable by buyers of real property within the City of Aspen at approximately 1.5% of the purchase price) for September 2015 were up 57 percent and 46 percent, respectively, from the same period in 2014. Year-to-date collections are up 25 percent and 26 percent. Variances in percentage change largely reflects the exemption of deed restricted property transactions and the first $100,000 of valuation in all housing real estate transfer tax calculations.”

See recent Before/After redevelopment‘flip job’ examplesin Miscellaneous Info at the bottom of the Menu Bar on the left. These are properties that have been recently or are currently being redeveloped for re-sale. This post is updated (08/24/15) as additional re-sale properties come on the market at significantly higher prices.

Last week’s Aspen and Snowmass sales activity appears below. Scroll down the page for 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 search the 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, the information should be here.

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Market Activity Week 42, October 18 – 25, 2015

Aspen Snowmass real estate weekly sales and under contract activity appears below for all Aspen, Snowmass 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.

Closed (9):MLS#’s:137755, 135048, 137037, 139861, 139880, 140076, 140370, 140827, 141402. This link is valid until 11/24/2015.

Under Contract/Pending (12):MLS#’s:125312, 133053, 133535, 136279, 138823, 139701, 140146, 140791, 141170, 141174, 141175, 141116. This link is valid until11/24/2015.

Aspen Snowmass Solds Last Week:

MLS #141402 – Pitkin Green, Red Mountain, 1130 Willoughby, Aspen, CO. Sold Price: $11,575,000/$1,370 sq ft; furnished. More details below photo.

MLS #141402 – Pitkin Green, Red Mountain, 1130 Willoughby, Aspen, CO. Sold Price: $11,575,000/$1,370 sq ft; furnished.Asking Price: $13,500,000. (Original Price: $12,500,000 and 62 days on the market since 11/15/2014.) This is a 1960 built and 2000 remodeled, 7 bedroom/8 bath/1 half-bath, 8,445 sq ft single family home with 2 car garage on a 60,984 sq ft lot. Broker comments are “Sold before MLS” 2014 Taxes: $17,092; HOA Dues: $635 per Qtr. Under Contract Date: 11/17/2014; Sold Date: 01/16/2015. (Photos and broker comments courtesy of Lorrie B Aspen)

MLS #139861 – Hallam Addition, West End, 315 Lake Avenue, Aspen, CO. Sold Price: $9,000,000/$1,636 sq ft; furnished. More details below photos.

MLS #139861 – Hallam Addition, West End, 315 Lake Avenue, Aspen, CO. Sold Price: $9,000,000/$1,636 sq ft; furnished. Asking Price: $9,450,000. (Original Price: $9,450,000 and 111 days on the market since 07/01/2015.) This is a 1994 built, 5 bedroom/5 bath/1 half-bath, 5,500 sq ft single family home with 2 car garage on a 7,280 sq ft lot. Broker comments are “Situated in a perfect location just one block from Triangle Park & a leisurely stroll to downtown or the Music Tent, this meticulously maintained home is set back on a large corner lot with Aspen Mountain views & privacy of equal value. A grand entry unveils a sweeping stairway to the expansive master and guest master suites with A/C on the upper level & down to an inviting media/family room with bar, private outdoor hot tub, & 3 guest bedroom suites. A large open floor plan allows for easy entertaining with a comfortable flow between the well-appointed kitchen, formal dining room & generous living room. The private office & covered deck upstairs offer surprising views while the flagstone patio with dining area & gas fire pit complete the outdoor experience. The epitome of style & quality!” 2015 Taxes: $14,992. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/25/2015; Sold Date: 10/20/2015. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #137037 – Ridge of Red Mt, Red Mountain, 155 Nighthawk Drive, Aspen, CO. Sold Price: $4,400,000/$1,085 sq ft; furnished. More details below photos.

MLS #137037 – Ridge of Red Mt, Red Mountain, 155 Nighthawk Drive, Aspen, CO. Sold Price: $4,400,000/$1,085 sq ft; furnished.Asking Price: $5,195,000. (Original Price: $5,495,000 and 370 days on the market since 10/17/2014.) This is a 1999 built and 2008 remodeled, 3 bedroom/3 bath/1 half-bath, 4,053 sq ft single family home with 2 car garage on a 30,618 sq ft lot. Broker comments are “Enjoy stunning views from Independence Pass to Mount Sopris with Aspen Mountain perfectly framed from this coveted Red Mountain Home. This three bedroom, one office and three and one half bath home is elegantly appointed with granite counter tops and stainless steel appliances in the kitchen, new marble bathrooms, and warm mountain accents in the living areas. Ideally located with end of the road privacy this home also features wrap around decks, outdoor hot tub, fenced yard, and an oversized two car garage” 2013 Taxes: $8,876; HOA Dues: $506 per Yr. Under Contract Date: 07/30/2015; Sold Date: 10/22/2015. (Photos and broker comments courtesy of Whitman Fine Properties)

MLS #140370 – River Bluff, Smuggler, 155 Lone Pine Road Unit 9, Aspen, CO. Sold Price: $3,050,000/$1,512 sq ft; furnished. More details below photos.

MLS #140370 – River Bluff, Smuggler, 155 Lone Pine Road Unit 9, Aspen, CO. Sold Price: $3,050,000/$1,512 sq ft; furnished.Asking Price: $3,195,000. (Original Price: $3,195,000 and 84 days on the market since 07/31/2015.) This is a 1980 built, 3 bedroom/3 bath, 2,016 sq ft townhouse with 2 car garage. Broker comments are “Exquisitely appointed and impeccably maintained, this 3 bedroom, 3 bath townhome is offered fully furnished and turnkey. Conveniently located close to Central Core, this coveted private corner unit with floor to ceiling windows, open floor plan, and peacful, cozy patio boasts panoramic views of Ajax, Independence pass, and Mt. Sopris. No expenses spared, this appealing classic remodel, perfect for entertaining, features kitchen with granite countertops, coffered ceilings with recessed lighting, custom cabinetry and built-ins, stone tile flooring, fireplace, A/C, bath with steam shower and jacuzzi tub, loft home office, ample storage inside and out, and 2 car garage. Comprehensive common area renovation recently completed. A great rental potential or beautiful private residence.” 2014 Taxes: $5,739; HOA Dues: $1,350 per Month. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/07/2015; Sold Date: 10/23/2015. (Photos and broker comments courtesy of Premier Residential Properties)

MLS #140827 – Castle Creek, West Aspen, 725 Castle Creek, Aspen, CO. Sold Price: $3,000,000/$857 sq ft. More details below photos.

MLS #140827 – Castle Creek, West Aspen, 725 Castle Creek, Aspen, CO. Sold Price: $3,000,000/$857 sq ft. Asking Price: $3,295,000. (Original Price: $3,295,000 and 50 days on the market since 08/31/2015.) This is a 1995 built, 4 bedroom/4 bath/1 half-bath, 3,497 sq ft duplex/half duplex with 2 car garage on a 9,453 sq ft lot. Broker comments are “Fantastic duplex that truly lives like a single family home. Features 4 bedrooms, 4.5 baths plus a TV/media room. Flexible space that is currently being used as a home office, has a separate entrance that can also be used as a mother-in-law unit with it’s own full bath a bedroom accessed from stairs within the office. This 3500 square foot duplex offers cathedral ceilings, great natural light, 2 car garage, and generous size bedrooms. Just off of Cemetery Lane….a sought after location.” 2014 Taxes: $7,167. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/30/2015; Sold Date: 10/20/2015. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Carbondale)

MLS #135048 – Starwood, McLain Flats, 475 N Starwood Drive, Aspen, CO: Sold Price: $1,700,000. More detals below photos.

MLS #135048 – Starwood, McLain Flats, 475 N Starwood Drive, Aspen, CO: Sold Price: $1,700,000. Asking Price: $2,250,000. (Original Price: $2,750,000 and 471 days on the market since 06/30/2014.) This is a 186,001 sq ft vacant lot. Broker comments are “Build your dream home on this spectacular 4.27 acre lot with endless big mountain views. Step out your door and enjoy the tennis, hiking, Nordic and equestrian trails of Starwood’s serene and breathtaking setting. Located close to town, this is a great value and will not last long. Additional HOA information available www.starwood.org” 2014 Taxes: $34,501; HOA Dues: 593 per Yr. Under Contract Date: 08/24/2015; Sold Date: 10/19/2015. (Photos and broker comments courtesy of Douglas Elliman Real Estate-Hunter)

MLS #140076 – Smuggler Park, Smuggler, 321 Oak Lane, Aspen, CO. Sold Price: $750,000/$410 sq ft; partial furnished.

MLS #140076 – Smuggler Park, Smuggler, 321 Oak Lane, Aspen, CO. Sold Price: $750,000/$410 sq ft; partial furnished. Asking Price: $849,000. (Original Price: $799,000 and 101 days on the market since 07/14/2015.) This is a 1998 built and 2015 remodeled, 5 bedroom/3 bath, 1,828 sq ft single family home on a 3,438 sq ft lot. Broker comments are “This is one of the best locations in Smuggler Park. Enjoy south-facing light and views of Aspen Mountain from this oversized 3,438 sq. ft. lot. The five-bedroom, three bathroom 1,828 sq. ft. home has recently been remodeled. Upgrades include a new roof, new tile flooring, new interior and exterior paint, new doors and trim, new carpet, a new hot water tank, and a new kitchen. A great side yard with a vintage ski wall is the perfect place to relax in the sunshine. An oversized parking area fronts the property. It’s just a short walk or ride to town or a free bus ride away. Herron Park and the Rio Grande Trail are nearby. Easy access to Smuggler Mountain and Hunter Creek Valley is another plus. There is 2,000 sq. ft. of allowable FAR plus 500 sq. ft. exemption for a garage per Smuggler Mobile Home Park SPA for future redevelopment. A separate laundry room provides additional utility space. There are two refrigerators in the remodeled kitchen. Low HOA’s and dogs are permitted for owners. A large storage area exists beneath the house, which could be expanded. This is a great value for an Aspen home in the Aspen School District, and convenient to everything.” 2014 Taxes: $1,762; HOA Dues: $175 per Month. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/07/2015; Sold Date: 10/23/2015. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #137755 – Central Core, 204 W Hyman Avenue #5, Aspen, CO. Sold Price: $690,000/$1,227 sq ft; furnished. More details below photos.

MLS #137755 – Central Core, 204 W Hyman Avenue #5, Aspen, CO. Sold Price: $690,000/$1,227 sq ft; furnished. Asking Price: $745,000. (Original Price: $799,000 and 279 days on the market since 01/09/2015.) This is a 1971 built and 2015 remodeled, 1 bedroom/1 bath, 612 sq ft townhouse. Broker comments are “Fresh and new! Just 2 blocks from restaurant row, this newly remodeled, furnished 1-bedroom condo is located in a small, private complex (only 4 units) and ready to go! Features include spacious main living area, wood burning stove, brand new drywall and carpeting, granite kitchen, marble bathroom and covered main entrance. Separate large storage area, outdoor picnic area, 1-off street parking space, super low dues, quiet street, pets welcome.” 2014 Taxes: $1,570; HOA Dues: $245 per Month. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/09/2015; Sold Date: 10/15/2015. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #139880 – West End, 700 W Hopkins Avenue 8, Aspen, CO. Sold Price: $425,000/$1,180 sq ft; unfurnished. More detiails below photos.

MLS #139880 – West End, 700 W Hopkins Avenue 8, Aspen, CO. Sold Price: $425,000/$1,180 sq ft; unfurnished. Asking Price: $465,000. (Original Price: $465,000 and 109 days on the market since 06/29/2015.) This is a 1975 built and 2005 remodeled, 1 bedroom/1 bath, 360 sq ft condo. Broker comments are “It doesn’t get much sweeter than this petite pied-a-terre in Aspen! This tastefully remodeled nest is just right for one or two. Off street, dedicated parking space is a real bonus.” 2014 Taxes: $724; HOA Dues: $1,074 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 08/25/2015; Sold Date: 10/16/2015. (Photos and broker comments courtesy of Aspen Snowmass Properties|BJ Adams and Company – Aspen)

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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 2015 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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