The Estin Report Aspen Snowmass Weekly Real Estate Market Update: Closed (11) and Under Contract (8): May 13 – 20, 2012

Scroll down page for last week’s market activity

Tim Estin is an active Aspen real estate broker with Coldwell Banker 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 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.

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.

Market Commentary: April 2012 Monthly Snapshot (link to Charts and Tables). Monthly snapshots are published the first Monday of each month. Scroll down page for last week’s sales activity.

Click image for 2012 YTD Monthly Comparison Chart and Tables

April 2012 Sold Properties Links (Links to property details and photos are valid for 30 days until June 7, 2012)

• ·Aspen Sold Properties includes Aspen, Woody Creek and Old Snowmass

• ·Snowmass Village Sold Properties

The Estin Report: Q1 2012 State of the Aspen Market Published 4/22/12

Click image for executive summary and full report pdf

Last Week’s Activity

Under Contract / Pending (8): MLS #: 123664, 122447, 124924, 124768, 125385, 124797, 101367, 123149. This link is valid for 30 days until 06/20/2012. Photos and descriptions of under contracts are not posted unless special circumstances or significance dictate.

Closed (11): MLS #: 121839, 120458, 121136, 123816, 123817, 121730, 112528, 123284, 121840, 121869, 122145: This link is valid for 30 days until 06/20/2012.

Aspen Snowmass Solds Last Week:

MLS #121839 – Aspen, West End single family home, historic victorian overlooking Hallam Lake, 320 Lake Avenue, Aspen, CO: Sold Price: $4,000,000/$2,614 sq ft unfurnished. More details below photos.

MLS #121839 – Aspen, West End historic victorian overlooking Hallam Lake,, 320 Lake Avenue, Aspen, CO: Sold Price: $4,000,000/$2,614 sq ft unfurnished; Ask Price: $4,500,000. (Original Price: $4,500,000 and 318 days on the market since 07/02/2011.) This is a 1888 built/1977 remodeled, 3 bedroom/2 bath, 1,530 sq ft single family home. Broker comments are, ” An amazing opportunity to own a quintessential Aspen home nestled on exclusive Lake Avenue. This private property overlooking Hallam Lake has unobstructed views of Smuggler Mountain and Hunter Creek, and sits a stone’s throw from Triangle Park and three blocks to the Music Tent. This quaint Victorian with three cozy bedrooms and bonus loft features hardwood floors and original wood details throughout. This West End home has been impeccably maintained and offers charm and history, yet possibilities and potential abound. Within walking distance to downtown, this special Hallam Lake setting will create an inviting atmosphere and provide memorable experiences each and every day you’re there.” 2011 Taxes: $12,238. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 07/31/2011; Sold Date: 05/14/2012. (Photos and broker comments courtesy of (Aspen Snowmass Sotheby’s.)

MLS #120458 – Aspen, West Aspen duplex, 1325 Sierra Vista Drive, Aspen, CO: Sold Price: $3,600,000/$815 sq ft. More details below photos.

MLS #120458 – Aspen, West Aspen duplex, 1325 Sierra Vista Drive, Aspen, CO: Sold Price: $3,600,000/$815 sq ft; Ask Price: $3,800,000. (Original Price: $3,900,000 and 406 days on the market since 04/08/2011.) This is a 2008 built, 4 bedroom/4 bath/2 half bath, 4,412 sq ft duplex with 2 car garage. Broker comments are, “Situated on a large corner lot this West Aspen gem is less than one mile from downtown Aspen. The finishes of this traditional mountain décor includes fabulous wood floors and cabinetry, slab counters, dry set stove fireplaces and hand hewn timbers. This is as nice as it gets for under $4M.” 2011 Taxes: $8,904. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/26/2012; Sold Date: 05/17/2012. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s.)

MLS #121136 – Aspen, Central Core, Queen Victoria condo, 916 E. Hopkins Avenue #1, Aspen, CO: Sold Price: $1,862,000/$1,034 sq ft furnished. More details below photos.
MLS #121136 – Aspen, Central Core, Queen Victoria condo, 916 E. Hopkins Avenue #1, Aspen, CO: Sold Price: $1,862,000/$1,034 sq ft furnished; Ask Price: $1,995,000. (Original Price: $2,495,000 and 359 days on the market since 05/24/2011.) This is a 1972 built/2011 remodeled, 3 bedroom/2 bath/1 half bath, 1,800 sq ft condo with common parking garage. Broker comments are, “Located on one of the best streets in Aspen. This tanquil setting overlooking the Roaring Fork River is as good as it gets. Completely redone down to the studs with contempoary flair containing 1800 sq. ft. with 3 bedrooms, 2/1/2 baths. Large brick patio, grass and trees with benches where you can see and hear the river. Very private and separate entrance. One of the best in The Core, in a small, well-kept building with parking garage.” 2011 Taxes: $3,009; HOA Dues: $1,650 Qtr. Under Contract Date: 04/11/2012; Sold Date: 05/16/2012. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s.)

MLS #123816 – Aspen, Central Core, 777 Ute at the Aspen Alps condo, 777 S. Ute Avenue 1 & 1a, Aspen, CO: Sold Price: $7,100,000/$1,257 sq ft furnished. Sold with MLS #123817 for an additional $1.4M (see next sold property below). More details below photos.

MLS #123816 – Aspen, Central Core, 777 Ute at the Aspen Alps condo, 777 S. Ute Avenue 1 & 1a, Aspen, CO: Sold Price: $7,100,000/$1,257 sq ft furnished; Ask Price: $8,198,000. (Original Price: $9,993,000 and 134 days on the market since 01/04/2012.) This is a 1990 built, 4 bedroom/5 bath/1 half bath, 5,647 sq ft condo with 3 car garage. With the combined purchase of Unit 2 (below) this represents an opportuinity for buyer to combine Units #1, 1A and 2 into a 7 bedroom property located at the base of Aspen Mountain. Broker comments are, “Looking for something truly special? Try this, 4 bedrooms, 5 1/2 baths, 3 underground parking spaces…and over 5,500 sq ft two blocks from the slopes in Aspen! Included is an 800 sq ft ”rec room” separate from the unit that is accessed through the garage with its own bath. Large storage area in the underground garage. Enjoy all of the ammenities, and superior management the Aspen Alps has to offer. Combine with Unit #2 for 7 bedrooms and over 7,000 sq ft.” 2011 Taxes: $15,399; HOA Dues: $1,655 Mo. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 04/13/2012; Sold Date: 05/14/2012. (Photos and broker comments courtesy of B.J. Adams & Co.)

MLS #123817 – Aspen, Central Core, 777 Ute at the Aspen Alps condo, 777 S. Ute Avenue #2, Aspen, CO: Sold Price: $1,400,000/$870 sq ft furnished. More details below photos.

MLS #123817 – Aspen, Central Core, 777 Ute at the Aspen Alps condo, 777 S. Ute Avenue #2, Aspen, CO: Sold Price: $1,400,000/$870 sq ft furnished; Ask Price: $1,795,000. (Original Price: $2,250,000 and 465 days on the market since 02/09/2011.) This is a 1990 built, 3 bedroom/3 bath, 1,609 sq ft condo with 3 car garage. Broker comments are, “The location says it all, but there’s so much more to take in. Enjoy all the ammenities and incredible management the Aspen Alps has to offer. Walk two blocks to the slopes. Three underground parking spaces included with this unit (accessed by your private elevator). Combine this unit with Unit #1 for 7 bedrooms, over 7,000 sq ft of living space and 6 parking spaces.” 2011 Taxes: $4.759; HOA Dues: $1,655 Mo. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 04/13/2012; Sold Date: 05/14/2012. (Photos and broker comments courtesy of B.J. Adams & Co.)

MLS #121730 – Aspen, Central Core, Durant condo, 728 S. Galena Street, 301b, Aspen, CO: Sold Price: $1,200,000/$1,090 sq ft furnished. More details below photos.

MLS #121730 – Aspen, Central Core, Durant condo, 728 S. Galena Street, 301b, Aspen, CO: Sold Price: $1,200,000/$1,090 sq ft furnished; Ask Price: $1,295,000. (Original Price: $2,250,000 and 664 days on the market since 02/20/2009.) This is a 1984 built/2009 remodeled, 3 bedroom/2 bath, 1,100 sq ft condo. An exterior special assesment upgrade is slated for the Durant Condos this year at an estimated cost per owner of $100,000-150,000. Oftentimes, this is a negotiated item between seller and buyer. Broker comments are, “3 bedrooms / 2 baths, top Floor, corner, 2009 remodel, incredible views and Aspen Mtn. ski access.” 2011 Taxes: 3,434; HOA Dues: $3,461 Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 04/01/2012; Sold Date: 05/15/2012. (Photos and broker comments courtesy of B.J. Adams & Co.)

MLS #112528 – Aspen, Central Core, Durant condo, 748 S. Galena Street, #4-D, Aspen, CO: Sold Price: 975,000/$805 sq ft furnished. More details below photos.

MLS #112528 – Aspen, Central Core, Durant condo, 748 S. Galena Street, #4-D, Aspen, CO: Sold Price: 975,000/$805 sq ft furnished; Ask Price: $1,099,575. (Original Price: $1,975,000 and 1,012 days on the market since 08/03/2009.) This is a 1969 built/2007 remodeled, 3 bedroom/2 bath, 1,211 sq ft condo. An exterior special assesment upgrade is slated for the Durant Condos this year at an estimated cost per owner of $100,000-150,000. Oftentimes, this is a negotiated item between seller and buyer. Broker comments are, “Great 2nd level 3 bed/2 bath, recent upgrades and views.” 2011 Taxes: $3,273; HOA Dues: $3,461. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 04/11/2012; Sold Date: 05/11/2012. (Photos and broker comments courtesy of B.J. Adams & Co.)

MLS #123284 – Aspen, Central Core, Chateau Chaumont condo, 731 E. Durant Avneue #13, Aspen, CO: Sold Price: $720,000/$863 sq ft furnished. More details below photos.

MLS #123284 – Aspen, Central Core, Chateau Chaumont condo, 731 E. Durant Avneue #13, Aspen, CO: Sold Price: $720,000/$863 sq ft furnished; Ask Price: $770,000. (Original Price: $1,000,000 and 373 days on the market since 07/10/2009.) This is a 1968 built/1997 remodeled, 2 bedroom/2 bath, 834 sq ft condo. Broker comments are, “This second-floor 2-bedroom, 2-bath deluxe condominium features hardwood floors and a wood-burning fireplace, and is only one block from the Silver Queen Gondola and downtown Aspen. Unit amenities include an updated kitchen and bathrooms, with granite countertops and stainless steel appliances, as well as formal dining area and breakfast bar, laundry closet, and flatscreen TVs in all bedrooms and the living area.” 2011 Taxes: $2,165; HOA dues: $7,528 Yr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/23/2012; Sold Date: 05/16/2012. (Photos and broker comments courtesy of Frias Properties.)

MLS #121840 – Aspen, East Aspen single family lot, 105 Park Avenue, Aspen, CO: Sold Price: $650,000. More details below photos.

MLS #121840 – Aspen, East Aspen single family lot, 105 Park Avenue, Aspen, CO: Sold Price: $650,000. Ask Price: $1,314,500. (Original Price: $2,987,000 and 320 days on the market since 07/02/2011.) This is a 0.06 acre, single family lot located in East Aspen close to downtown Aspen. The buyer has plans to re-develop the exisiting structure in the fast redeveloping Park Avenue strip along the Roaring Fork River. Broker comments are, “2690 sq.ft. lot on Park Avenue on the east side of Aspen. Located near the Hopkins Avenue footbridge for an easy stroll to downtown Aspen.” 2011 Taxes: $4,035. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 11/11/2011; Sold Date: 05/15/2012. (Photos and broker comments courtesy of Aspen Associates Realty Group.)

MLS #121869 – Wood Creek, Woody Creek riverfront single family home, 0206 Letey Lane, Woody Creek, CO: Sold Price: $2,675,000/$774 sq ft unfurnished. More details below photos.

MLS #121869 – Wood Creek, Woody Creek riverfront single family home, 0206 Letey Lane, Woody Creek, CO: Sold Price: $2,675,000/$774 sq ft unfurnished; Ask Price: $2,995,000. (Original Price: $3,999,000 and 1,161 days on the market since 07/14/2008.) This is a 1980 built/2001 remodeled, 4 bedroom/4 bath/1 half bath, 3,456 single family home with 3 car garage on 5 acres. Broker comments are, “Gorgeous riverfront property on five acres located just ten minutes from Aspen and Snowmass. This two level immaculate home features, four bedrooms, four baths and has an open floor plan which is ideal for entertaining. Enjoy river views from every room enhanced with beautiful gardens and landscaping. The property enables a wide range of outdoor activities as there is excellent access to the river and room for horses. Water rights with plans for a pond included.” 2011 Taxes: $6,657. Under Contract Date: 12/02/2011; Sold Date: 05/15/2012. (Photos and broker comments courtesy of Aspen Associates Realty Group.)

MLS #122145 – Aspen, Central Core, Mill Street condo, 415 Rio Grande Place #201, Aspen, CO: Sold Price: $320,000/$509 sq ft furnished. More details below photos.

MLS #122145 – Aspen, Central Core, Mill Street condo, 415 Rio Grande Place #201, Aspen, CO: Sold Price: $320,000/$509 sq ft furnished; Ask Price: $329,000. (Original Price: $369,000 and 295 days on the market since 07/25/2011.) This is a 2001 built/2008 remodeled, 1 bedroom/1 bath, 628 sq ft condo. Broker comments are, “Perfect downtown Aspen one bedroom for local resident or qualified Pitkin County employer. Updated and hip open floor plan great for entertaining with floor to ceiling windows in living and bedroom with views of Rio Grande Park, Red Mountain and Hunter Creek Valley. Remodeled bathroom and kitchen featuring solid granite slab countertops with custom tile backsplash, stainless steel Frigidaire appliances, bamboo floors, travertine bath with bench and solid glass shower enclosure. 3 block walk to Silver Queen Gondola. Additional amenities include large bedroom walk-in closet and stackable in-unit washer/drying. Shuttle leaves from building, public parking nearby. Self employed purchaser must qualify each two years per Aspen Pitkin County Housing Authority Category 3 Requirements. No appreciation cap. Must be qualified employee or employer in Pitkin County.” 2011 Taxes: 855; HOA Dues: $241 Mo. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/07/2012; Sold Date: 05/09/2012. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s.)

Tim Estin welcomes your business, inquiries and comments. Email: tim@estinaspen.com or call 970.920.7387. Subscribe to The Estin Report and Tim Estin’s AspenRealEstateBlog.com on twitter @EstinAspen by clicking “Join the conversation” button below or click one of the different subscription options in banner at the top of page:

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