Nov 11 – 18, 2018 Estin Report: Last Week’s Aspen CO Homes for Sale and Snowmass Real Estate Sales & Stats: Closed (10) + Under Contract / Pending (9). The October 2018 Aspen Snowmass Village Real… Read More
Use this site as an Aspen real estate resource. The Estin Report has been accumulating Aspen real estate information online since 2005, and the reports include historical market information dating back to 2003-2004. Search by MLS #, date, topic, address, condo complex, development name, etc. If it is Aspen Snowmass real estate related, it is likely to be here.
Snowmass Village Ski House – Havens #3 on Fanny Hill Flips for $9.5M/$3,822 SF Part Furn, +61% in 3 Yrs
Aspen Real Estate MarketĀ Last Week's Sales: March 17 - March 24, 24 - Week 12 Read More
Estin Report: Last Week’s Aspen Snowmass Real Estate Sales & Stats: Closed (12) + Pending (10): Highlight: Unique West End Teardown Sells at $3.8M Lot Value
On April 2, 2014, The Estin Estin report released March 2014 Market Snapshot of Aspen Snowmass Real Estate in the current reports section. The monthly snapshots are released on or near the 1st Monday of each month. Read More
Sep 27 – Oct 4, 2020Ā Estin Report: Last Week’s Aspen CO Homes for Sale and Snowmass Real Estate Sales & Stats: Closed + (35) + Under Contract / Pending (27)
Aspen Real Estate Market Ā Last Weekās Sales: Sep 27 - Oct 4, 2020 - Week 39
Sep 27 - Oct 4, 2020 Estin Report: Last Weekās Aspen CO Homes for SaleĀ andĀ Snowmass Real Estate Sales & Stats: Closed (35) + Under Contract / Pending (27).Ā [To view the new blog post, you may have to āClear your Browser Settingsā.Ā Go to: Chrome browser/more tools/clear browsing data.]Ā Ā
Recent posts
In Charts: Estin Report Q3 2009 ā Q3 2020: Aspen & Snowmass Quarterly Historic Real Estate Performance Charts by Property Types and Dollar & Unit Sales posted 10/04/20.
In Current Reports: Estin Report: Sep 2020 YTD Aspen Snowmass Real Estate Market Report SnapshotĀ released 10/04/20Ā (This is a 10-Page breakdown of monthly and year-to-date sales detail by property types and by neighborhoods). These Monthly Snapshots are posted in the Current Reports Section on or near the 1st Monday of the month. It is the only monthly Aspen market report to be published in a consistent and timely manner.
Bottom Line Sep 2020: Until you actually see the numbers, all the talk aboutĀ Aspen experiencing a pandemic real estate āgold rushāĀ in July, August & September 2020 seems wildly exaggerated and hyperbolic. Until it isnāt. The metrics are dizzying....Read more.
Key Takeaways:
High end purchases:
In the 3rd quarter 2020. (Jul 1,20 -Sep 30,20) There were $629M in sales of properties priced over $10M each in Q3 2020, or 71% out of a total dollar sales of $885M for Q3 2020. ā¦This compares to same time last year, when there were $67M in sales of properties priced over $10M each in Q3 2019, or 29% of the total $235M total Q3 2019 Aspen dollar sales.
Dollar sales in Q3 2020 were almost 10x more than same period last year.
Reasons for spike in sales:
Covid 19 related, people exiting big cities ā LA, NYC, Chicago, Miami, Dallas ā pandemic, fires, urban unrest, health concerns, desire for better quality of life, global warming and search for cooler climate, historic low mortgage interest rates, Ā mountain living at its bestā¦ The pandemic sales surge is the result of buyers looking for more full-time living vs vacation home properties, more space and open air. Anything new or like-new remodeled is flying off the shelf. If it is not, somethingās wrong with the property.
Other less immediate reasons: Aspen offers a world class nexus of sports, arts, and culture unmatched in any other mountain community. We have amongst the strictest zoning rules in the country, super low property taxes, a sophisticated and technologically efficient valley wide public transportation system and an advanced, 40 yr old affordable housing program for locals without peer from the rest of the country.
Aspen single family home prices
In Sept 2020, the median Aspen single family home price was $12M vs 6.475M in Sep 19, +90%. This highlights the predominance of over $10M property sales in the market.
Aspen single family home avg price per sq ft in Sept 2020
Aspen single family homes avg. price per sq ft was $2,028 sf in Sep 20 vs $1,249 sf in Sep 19, +62%. This increase can largely be attributed to newer built homes selling extremely well at record prices.
Aspen condos prices in Sept 2020
The 6-mos (Apr-Sep) Ā median Aspen condo price was $3.44M vs $2.95M in Sep 19, +67%. (Pg 7)
The average Aspen condo costs $1,803 sq ft in Sep 20 vs $1,681 sq ft in Sep 19, +7%.
Aspen 2-bdrm condo in downtown core in Sept 2020
Median downtown 2 bdrm condo costs $2.056M vs $.1.7M in Sep 2019, +21%.
The 6-mos avg price per sq ft for a 2-Bdrm Core condo is $1,967 versus $1,725 sq ft in Sep 2019, +14%.
While condo sales have been strong, theyāve been held back, or restrained, by a lack of inventory.
Links:
Q3 2020 Charts: Aspen and Snowmass Village
Sept 2020 Aspen & Snowmass Village Market Report Snapshot Read More
ASPEN SALES RECORD – 421 WILLOUGHBY WAY SELLS AT $72.5M AS BUYER MAKES 3 TRADES IN 6 MONTHS
Aspen Real Estate Market Ā Last Weekās Sales: Jun 13 – 20, 21 – Week 25 Closed (13) + Under Contract / Pending (14).Ā [To view the new blog post, you may have to āClear your Browser Settingsā.Ā Go to:… Read More
Feb 5 – 12, 2017 Estin Report: Last Week’s Aspen Snowmass Real Estate Sales & Stats: Closed (5) + Under Contract / Pending (16)
The Jan 2017 Aspen Snowmass Real Estate Monthly Market Snapshot has been postedinCurrent Reports.The Monthly Snapshots are usually posted on or near the 1st Monday of the month. The Q4 and Year 2016… Read More
Aspen Real Estate Market Weekly Report – 301 Conundrum Creek Rd Sells at $8.95M/$1,629 sq ft; Unfurn.
Aspen Real Estate Market Ā Last Weekās Sales: Dec 12 – 19, 21 – Week 51 Estin Report: 1st Half 2021 sf – Aspen Snowmass Real Estate Market Report was posted 8/17/21 in the Estin Reports… Read More
May 14 – 21, 2017 Estin Report: Last Week’s Aspen Snowmass Real Estate Sales & Stats: Closed (8) + Under Contract / Pending (4)
This is the 504th weekly Estin Report blog post on Aspen real estate. But who's counting, really? Check out the SearchEstinAspen Section to find all kinds of accumulated information on Aspen homes, condos and properties - ten years have gone into building this searchable database and archive that becomes a more useful as a resource over time.Ā
The April 2017 Aspen Snowmass Real Estate Monthly Market Snapshot was postedĀ inĀ Current ReportsĀ on Wed. May 3rd. The Monthly Snapshots are usually posted on or near the 1st Monday of the month. The Q1 2017 & 2016 Year End report will be released this week, I hope, as will Q4 2016 stats.
AnĀ articleĀ appeared in the Denver Post Sunday Feb 26th on Colorado Mountain resort real estate including Aspen and Pitkin County.Ā
Bottom Line: Ā Estin Report: Apr 2017 Aspen Real Estate Market Snapshot Excerpt:
"Aspen real estate is in turn-a-round mode from a dismal 2016 when global uncertainty curtailed buyers' appetite for luxury high end 2nd home purchases. Post-election 2016, an upper-end Aspen real estate recovery is in full bloom.
In April 2017, for the combined Aspen/Snowmass Village market, the number of units sold is up +25%, from 28 last year to 35 this year. The number of properties that went under contract in April 2017 was 30 versus 25 last year. Under contracts are viewed as an indicator of future activity.
But the surging market activity grabbing local headlines is very specific: location specific, property specific, style/design specific, property age specific..
. Thereās inside the roundabout and thereās outside. Not everyoneās partying at present.
If you want to pay through your teeth, pour money into developerās pockets who saw these things coming 2-4 years ago, be a part of the great migration closer into town...Ā If you want to find good-to-great values and motivated sellers in to-die-for stunningly beautiful settings 5-15 minutes beyond downtown Aspen, play the contrarian hand and rediscover and embrace the areas and neighborhoods the Aspen settler generation of the 1960's through the 1980ās came to Aspen for...""
Click tables to enlarge
New Charts Below: Historic Pace of Aspen and Snowmass Village Homes, Condos and Vacant Land / Lots by Dollar Sales and Unit SalesĀ Updated with Q1 2017.Ā (These charts are very popular and will be updated every quarter):
These new charts were originally posted inĀ Current ReportsĀ on 02/15/17 through Q4 2016. They have been updated with Q1 2017 stats.Ā The charts are: the historic pace of dollar and unit sales since 2006 separately for Aspen and Snowmass Village (SMV) by property types: 1) all properties combined; 2) single family homes; 3) condos; 4) vacant land / lots. (Fractionals, with the exception of extreme sales, are not included.)
Sales velocity, or pace, whether by dollar volume or unit sales is extremely useful to consider ss the unit sales drop-off in the 2nd Half 2007 so foreshadowed the Great Recession.Ā
While many real estate professionals use dollar volume sales as the single metric for sales performance (it often looks 'better'), unit sales are a more reliable measure of market activity. Dollar sales can be skewed disproportionately by extreme high or low end priced sales.
Clients often ask, "Where are we now compared to the Great Recession...?". These charts offer a solid reference for that conversation. In this instance, the starting point for the trend line is 2006, but, of course, where the trend line commences will affect its outcome...If the charts had started at 2009, the trend would be more upwards at present than is shown here.
As this is written, post-election Nov 2016 through Mar 31, 2017(see charts through Q1 2017), sales have picked up considerably and are decidedly on an upward trajectory.
Click link to see additional charts
for Aspen and SMV by property types thru Mar 31, 2017 (Q1).
"Flip Job" Examples: See recent Before/After redevelopmentĀ Ā in the new Flip Jobs SectionĀ near 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 (01/04/17) as additional re-sale properties come on the market at significantly higher prices.
___________
Market Activity Week 20, May 14 - 21, 2017
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. Ā 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 useĀ SearchEstinAspenĀ in the menu bar to search by topic, address, subdivision, complex, date, etc.Ā If it's about Aspen real estate, the information should be here.
Closed (8):Ā Ā MLS#s 141581, 140780, 142935, 143689, 143697, 144516, 146684, 147871.Ā This link is valid until 6/20/2017.
Under Contract/Pending (4):Ā MLS#s 139835, 145712, 146108, 147702.Ā This link is valid until 6/20/2017.
Aspen Snowmass Solds Last Week:Ā Ā
MLS #142935 - Black Birch Estates, West Aspen river front home, 1130 Black Birch Drive, Aspen, CO. Sold Price: $7,600,000/$2,627 sq ft 05/16/2017,Ā unfurnished. More details below photos.
Ā Ā Ā Ā Ā Ā Ā Ā
MLS #142935 - Black Birch Estates, West Aspen river front home, 1130 Black Birch Drive, Aspen, CO. Sold Price: $7,600,000/$2,627 sq ft on 05/16/2017,Ā unfurnished. Aspen single family home for sale. Ask Price: $7,900,000. (Original Price: $8,900,000 and 455 days on the market since 02/16/2016.) This is a 1972 built and 1995 remodeled, 4 bedroom/3 bath, 2,893 sq ft single family residence with 1 car garage on a 20,171 sq ft lot. The house is located at the end of Red Butte Dr off of Cemetery Ln. It looks out onto the confluence of the Roaring Fork River and Caslte Creek, a completely unique and dramatic river frontage setting. Broker comments are "Situated at the confluence of the Roaring Fork River and Castle Creek in Aspen, this may be the most spectacular river front property in the State of Colorado; it is as good as it gets. Early morning sun fills the nearly half acre property and continues throughout the day. Listen to the sounds of the river, and watch wildlife wonder the riparian setting. Fly fish from the back yard. A wooden bridge entry crosses a meandering stream through the front yard. The four-bedroom home was recently remodeled and tastefully appointed with new contemporary fixtures and furnishings. A two-sided large stone fireplace warms the living area. The kitchen enjoys river views from two sides. Wood flooring is throughout. The dining room walks out to a large deck on the river. Three main level bedrooms with two bathrooms, and an open entertainment room complete the main level. The master bedroom sits above the river with views upstream towards the Continental Divide of Sunshine and New York Peaks. Located at the end of a quiet, non-through street. Close to downtown Aspen via the Rio Grande or Cemetery Lane trails, or a five-minute drive or free bus ride away. The Aspen Meadows footbridge to the Benedict music tent is also nearby. A detached garage provides adequate storage. Additional Floor Area Ratio (FAR) is still available with numerous expansion and redevelopment opportunities. There is nothing else like this available today." 2015 taxes: $12,936. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/18/2017; Sold Date: 05/16/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Hyman Mall) Read More
Aug 10 – 17, 2014 Estin Report: Last Week’s Aspen Snowmass Real Estate Sales & Stats: Closed (13) + Under Contract / Pending (9)
Last week’s Aspen and Snowmass sales activity appears below. Scroll down the page for photos and details of weekly solds and under contract /pending Aspen properties in the past 4 weeks. For earlier dates, use the down arrow to search the blog… Read More
Estin Report blog: Last Week’s Aspen Snowmass Real Estate Sales & Stats: Closed (12) + Under Contract (15). Highlight: Bank sale 2009 built contemp river SFH across from Hwy 82 sold $2.75M was $7.95M
The Estin Report: Feb 2014 Aspen Real Estate Market Snapshot was posted in Current Reports on Mar 3, 14. The Snapshots are released on or about the 1st Monday of each month. Read More