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Aspen Real Estate Market  Last Week’s Sales: Jul 14 – 21, 19 – Week 29 Closed (9) + Under Contract / Pending (13). The June & YTD 2019 Aspen Snowmass Village Real Estate Market Report Snapshot was posted July… Read More

The Estin Report: July YTD 2015 Aspen Snowmass Monthly Market Snapshotwas posted 08/0315 in Current Reports. The August 2015 Snapshot will be released by late Wed Sept. 2nd. The Snapshots are released… Read More

Aspen Real Estate Market  Last Week's Sales: Jan 7 - 14, 24 - Week 2 Read More

Oct 22 - 29, 2017 Estin Report: Last Week's Aspen Snowmass Real Estate Sales & Stats: Closed (7) + Under Contract / Pending (11)

The Estin Report: Oct 2017 Aspen Real Estate Monthly Snapshot was posted in Current Reports on 11/14. The Snapshots are usually posted on or near the 1st Monday of the month.

Sep 2017 Bottom Line
"We are on a remarkably similar path to 2015, the biggest year since the Great Recession.
• Through Sep 2017 YTD, total Aspen and SMV combined dollar sales have exceeded Sep 2015 YTD by 4.3%, $1.165B vs $1.117B.
• Unit sales are also similar: (327) in 2017 YTD vs (331) in 2015 YTD.
• And luxury sales of properties over $10M are tracking 2015: there have been (21) in 2017 YTD vs (23) in 2015 YTD.
Listing Inventory for..." Read more

Added to Sep 2017 Snapshot Summary (and in the future to all Monthly Snapshots):

Deep Dive: Sales by Location (Pgs 7 & 9 of Snapshot)

- Aspen: Sales by Neighborhoods
 - Snowmass Village: Sales by Neighborhoods

The Estin Report: Mid-Year 2017 State of Aspen Real Estate
was released in the summer 2017 in Current Reports. The 32-Page report is available on-line as PDF and in a print edition in kiosks at the airport, the info booth across from Paradise Bakery town and at Sothebys offices at 415 E Hyman in the Mall and 300 S Spring opposite the Art Museum.

"Flip Job" Examples: See recent Before/After Redevelopment in the Flip Jobs Section 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 (07/4/17) as additional re-sale properties come on the market at significantly higher prices.

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Market Activity Week 44, Oct 22 - 29, 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.  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 use SearchEstinAspen in 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 (7):  MLS#s 151357, 143793, 148027, 148077, 148846, 150411, 146717. This link is valid until 11/29/2017.

Under Contract/Pending (11): MLS#s: 151222, 141809, 144508, 151372, 143239, 147369, 149428, 149918, 150734, 151072, 151302. This link is valid until 11/28/2017.

Aspen Snowmass Solds Last Week: 

MLS #150411 - 0391/0401 Woody Creek Road, Woody Creek, CO. Sold Price: $13,000,000/$1,016 sq ft; furnished. More details below photo.

MLS #150411 - 0391/0401 Woody Creek Road, Woody Creek, CO. Sold Price: $13,000,000/$1,016 sq ft; furnished. Woody Creek single family home for sale. Ask Price: $13,950,000. (Original Price: $13,950,000 and _ days on the market since _.) This is a studio/2 half-bath, 12,785 sq ft single family home with 3 car garage on a 35.14 acres lot. Broker comments are "Sophisticated, timeless, livable, Italian farmhouse on 35 acres. A bucolic ranch featuring a 5-bedroom main home, guest home, horse barn, trout ponds & Woody Creek meandering the length of the property. Bountiful wildlife & endless outdoor adventure! The attention to detail is astounding: antique chestnut floors & intricate stone work add elegance & warmth to this estate home. The turn-of-the-century historic barn, new state-of-the-art barn with multiple stalls & paddocks, riding arena & lush pastures will appeal to the equestrian. Wine connoisseurs will appreciate the beautiful tasting room. The perfect gathering place complete with indoor/outdoor entertaining spaces, private guest wing, two media rooms & a home spa/gym area. This property has it all only 15-minutes from Aspen." 2015 taxes: $26,602. Under Contract Date: 08/28/2017; Sold Date: 10/24/2017. (Photos and broker comments courtesy of Compass)

MLS #148027 - Durant Condos, Central Core, 748 S Galena Street 5-D, Aspen, CO. Sold Price: $3,425,000/$2,048 sq ft; furnished. More details below photos.

MLS #148027 - Durant Condos, Central Core, 748 S Galena Street 5-D, Aspen, CO. Sold Price: $3,425,000/$2,048 sq ft; furnished. Aspen condo for sale. Ask Price: $3,650,000. (Original Price: $3,650,000 and 223 days on the market since 03/10/2017.) This is a 1969 built, 4 bedroom/3 bath, 1,672 sq ft condo. Broker comments are "No carrying skis up and down stairs here. Ski in & out of you backdoor in this elegant four bedroom penthouse level residence on Aspen Mountain. Seller has paid the over $460,000 in assessments for the newly completed exterior remodel which included new snowmelted walkways, new walkways to the residences, retaining walls, exterior facade, new windows, and more. Radiant floor heat, 9 foot ceilings, steam shower, W/D, Jacuzzi tubs, gas range, cooling, and sky lights. New bike storage and signage is currently being completed. An entirely new pool and hot tub are planned for this fall." 2016 taxes: $5,857; HOA Dues: $6,245 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/14/2017; Sold Date: 10/19/2017. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen) Read More

Jan. 28 - Feb. 4, 2018 Estin Report: Last Week's Aspen Snowmass Real Estate Sales & Stats: Closed (7) + Under Contract / Pending (14)
The Dec 2017 Market Snapshot was released 01/13/17 in Current Reports.  Jan 2018 will be released early this week.
New in Charts in Current Reports
12/23/17: Charts: 2017 Aspen Sales by Neighborhood and Property Type and Downtown Condos Fly High - new charts to be included in my year end 2017 report to be released soon.

11/20/17: Where are we now? Chart Series: 2006 – Q3 2017 Historic Pace of Aspen and Snowmass Village Dollar and Unit Sales (updated every quarter.  Q4 2017 update to be updated soon).
    
Clients often ask, “Where are we now compared to the Great Recession…?” My interest in creating this series of charts is to answer that question for myself and to offer a visual reference for that conversation – to compare Aspen and Snowmass Village sales activity now to pre-recession mid-2000’s levels...Read more
Bottom Line Dec 2017
"Dec 2017 ended on a weak note compared to what was to an outstanding year. A disappointment in fact. But maybe this was the reprieve we needed after an exceptionally strong three months in August, Sep and Oct ’17.
For the year, dollar sales at $1.512B were almost dead-even with $1.513B in Year 2015;  unit sales were also near even with 2015 with (433) in 2017 versus (442) in 2015. Years 2017 and 2015 were remarkably similar to one another and the best performing years of the past ten, 2008-2017, while 2017 had the lowest inventory of properties for sale of that ten year period: (762) listings inventory 2017 vs (858) in 2015, -11%.
Standout categories for the month of December are:
1) Sales of properties over $10M and over at near record of 2015.

For the year 2017, dollar sales of properties $10M and above are up 181% to $442M from $157M in 2016; Unit sales are up 142% to (29) versus (12) last year.
In 2017, $10M and over property sales accounted for $442M, or 29%, of the $1.512B total market dollar sales and (29), or 7%, of the (433) total unit sales.
In 2015, sales of properties $10M and over were $454M, or 30%, of the $1.513B total market dollar sales and (30), or 7%, of the (441) total unit sales.

2) Aspen condos: Sales are up 29% YTD while inventory of available listings is down -18%. High demand and falling inventory is creating price pressure: In the 3-mos sales period from Oct-Dec 17, the avg Aspen Core condo/townhome sold at $1,514 sq ft over $1,252 in the same period Dec 2017, +21%.
3) Where are the Aspen Discounts? Checkout areas a bit farther out of town but more than compensating for the 'relative' distance are the staggering views and high mountain scenery. This is 'Rocky Mountain High' living at its best at sub-prime pricing!  Giddy-up folks!!  For example, Starwood had (2) sales in the three months of Oct-Dec 17 at an avg $624 sq ft vs $616 sq ft same period a year ago, +1%.  The caveat: these sales were for older homes selling essentially at lot value, but for reference, compare this to the avg. (3) downtown SF home sales +31%,  $2,227 sq ft in Oct-Dec 2017 vs $1,704 sq ft in the same period last year. Another example is Woody Creek where home prices over $1.5M are still relatively discounted at $1,310 sq ft in Oct-Dec 2017 versus $963 sq ft same time last year. +36%. See Best Deals for Starwood/McLain Flats and Woody Creek properties.
4) Snowmass Village values: SMV is entering its prime winter selling season Dec – April, and unit sales activity has been picking up similar to 2015.  The revived Snowmass Base Village under new ownership is completing some major construction projects and the base area if starting to look and feel more finished than the construction site its been for the past 10 years. There is a lot of excitement and positive energy while at the same time,   SMV opportunities continue…in general, prices – at 40-60% discount-to-Aspen –  are similar, if not down incrementally, from last year... Read More

Aspen Real Estate Market  Last Week's Sales: Aug 8 - 15, 22 - Week 32 Read More

The Estin Report: June and YTD 2015 Aspen Snowmass Monthly Market Snapshot was posted 07/14/15 in Current Reports The 1st Half 2015 State of the Aspen Market Report is in process. May and YTD 2015 Aspen… Read More

Aspen Real Estate Market  Last Week's Sales: May 26 - June 2, 24 - Week 22 Read More

Aspen Real Estate Market  Last Week’s Sales: Dec 30, 2018 – Jan 6, 19 – Week 1 Estin Report: Last Week’s Aspen CO Homes for Sale and Snowmass Real Estate Sales & Stats: Closed (8)… Read More

Last week’s sales activity is posted below. Scroll down 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… Read More

Aspen Real Estate Market  Last Week’s Sales: Nov 3 – 10, 2019 – Week 44 Closed (8) + Under Contract / Pending (6). [To view the new blog post, you may have to “Clear your Browser Settings”. Go to:… Read More

Aspen Real Estate Market  Last Week's Sales: Jul 16 - 23, 23 - Week 29 Read More