The Estin Report Aspen Snowmass Weekly Real Estate Sales and Statistics: Closed (4) and Under Contract / Pending (16): Feb 17 – 24, 2013

Last weeks sales activity and the weekly foreclosure list is published 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 blog archives by year and date. Or use SearchEstinAspen to search by topic, address, subdivision or complex name, date etc. If it’s about Aspen real estate, information should be here.

Released Wed. Jan 16, 2013. Click image for summary and full report pdf in Current Reports

The Estin Report: January 2013 Market Snapshot Aspen Snowmass Real Estate

released mid-day Wed.. 02/06/13 v3

Click image to January 2013 Market Snapshot and Summary

Summary Comparison
Jan 2013 versus Jan 2012
(Now vs Then, Year over Year)

Total Aspen Snowmass Market
Monthly Unit Sales*: up 7%, 30 sales now vs 28 then
Year-to-Date Unit Sales: up 7%, 30 sales now vs 28 then
Monthly Dollar Volume: down -23%, $84M now vs $84M then
Year-to-Date Dollar Volume: down -23%, $84M now vs $84M then
Listing Inventory: down -6%, 1,133 properties for sale now vs 1,209 then

Aspen Market
Monthly Unit Sales: down -18%, 18 sales now vs 22 then
Year-to-Date Unit Sales: down -18%, 18 sales now vs 22 then
Monthly Dollar Volume: down -31%, $50M now vs $72M then
Year-to-Date Dollar Volume: down -31%, $50M now vs $72M then
Listing Inventory: down -11%, 553 properties for sale now vs 622 then

Snowmass Village Market
Monthly Unit Sales: up 100%, 12 sales now vs 6 then
Year-to-Date Unit Sales: up 100%, 12 sales now vs 6 then
Monthly Dollar Volume: up 26%, $14M now vs $12M then
Year-to-Date Dollar Volume: up 26%, $14M now vs $12M then
Listing Inventory: down -1%, 304 properties for sale now vs 306 then

* As it is the beginning of the year, monthly and YTD sales will be the same.

Comments

Not much should be inferred from the Jan. numbers. We are coming off the strongest December 2012 sales figures since late 2006/2007. For a clear view of where the market is at present, refer to both the Dec. 2012 Market Snapshot and the Q4 2012 full year report.

Excerpt from Dec. 2012 Snapshot: “December 2012 was the best performing December in total dollar sales for Aspen and Snowmass Village combined since Dec. 2006; it was also the best single performing month in total dollar and unit sales for Aspen and Snowmass Village combined since Oct. 2007. Capital gains, gift and estate tax changes planned for 2013 likely fueled a number of these transactions before the end of the year and trumped the uncertainty caused by the fiscal cliff debate.”

It is interesting to note that Jan. 2013 sales in Snowmass Village are up 100% over the same time last year but this performance is coming off such a low SMV sales base that not much should be suggested other than the definitive positive direction.

Overall, Snowmass continues to struggle … But most importantly, the best value opportunities for Aspen area ski-in/out and in-Aspen-School-District properties are in Snowmass Village.

SMV sold example (see Jan 27 – Feb 3, 13 blog for photos): Brand new 2012 SMV home sold on 01/28/2013 at $2,200,000/$916 sq ft furnished; Ask: $2,325,000. (Orig. $2,200,000 and 682 days on market since 03/18/2011.) This is a 4 bdrm/3 bath/1 3/4 bath, 2,400 sq ft with 2 car garage on .31 acres. It is the newest single family home product on the SMV market today – the Sinclair Meadows subdivision development. Call me for more info.

Active links to sold Jan. 2013 property photos and details:

Aspen Closings (15 solds) Jan 1-31, 2013 This link is valid until 3/7/2013.

Snowmass Closings (12 solds) Jan 1-31, 2013: This link is valid until 3/7/2013.

Vacant lot Closings (3 solds) Jan 1-31, 2013: This link is valid until 3/7/2013.

Last Week’s Market Activity 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 to preserve an archive of sold market activity.

Weekly Foreclosure List 02/21/13 For photos and property descriptions, see links at the Deals and Bank Sales Section of this site.

Under Contract / Pending (16) MLS #: 128415, 128346, 127068, 122405, 128760, 114068, 128503, 117174, 121970, 128463, 128697, 121411, 121406, 128791, 117310, 125996. This link is valid for 30 days until 03/24/2013. Photos and descriptions of under contracts are not posted unless special circumstances or significance dictate.

Closed (4) MLS #: 128108, 125271, 122661, 128654. This link is valid for 30 days until 03/24/2013.

Select Aspen Snowmass Solds Last Week

MLS #128108 – Aspen, Central Core penthouse condo, 625 E. Main Street 301, Aspen, CO: Sold Price: $7,500,000/$2,459,000 sq ft unfurnished. More details below photos.

MLS #128108 – Aspen, Central Core penthouse condo, 625 E. Main Street 301, Aspen, CO: Sold Price: $7,500,000/$2,459,000 sq ft unfurnished; Asking Price: $7,595,000. (Original Price: $7,595,000 and 62 days on the market since 12/19/2012.) This is a 2012 built, 3 bedroom/3 bath/1 half bath, 3,049 sq ft condo with 2 car garage. Broker comments are, “The West Penthouse at 625 East Main Street offers sophisticated contemporary design combined with the highest level of materials all on one level. From the entry elevator to your own enclosed private two-car garage, this 3,049 square foot penthouse with 1,420 square feet of outdoor terraces provides for a lifestyle right in the center of town. Floor to ceiling sliding glass walls open to the stone terrace with dramatic views of Aspen Mountain, a built-in stainless grill, and a wood-burning outdoor fireplace. Three bedrooms each with their own bath plus a separate office/media room off the master suite. Wide-planked European rift-cut white oak floors, custom cabinetry, Diamond finish plaster walls, slab stone countertops, custom decorative lighting and air conditioning are some features.” 2012 Taxes: tbd; HOA Dues: tbd; City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/23/2012; Sold Date: 02/19/2013. (Photos and broker comments courtesy of Coldwell Banker Mason Morse.)

MLS #125271 – Aspen, East Aspen, Mountain Valley single family home, 278 E. Lupine Drive, Aspen, CO: Sold Price: $3,012,632/$690 sq ft partially furnished. More details below photos.

MLS #125271 – Aspen, East Aspen, Mountain Valley single family home, 278 E. Lupine Drive, Aspen, CO: Sold Price: $3,012,632/$690 sq ft partially furnished; Asking Price: $3,495,000. (Original Price: $4,995,000 and 664 days on the market since 12/09/2010.) This is a 1969 built/2005 remodeled, 4 bedroom/4 bath/2 half bath, 4,364 sq ft single family home with 3 car garage on 0.37 acres. Broker comments are, “Conveniently located on the quiet east side of Aspen, this four-bedroom home offers a lovely, open floor plan with huge wrap-around decks and stunning views of Independence Pass, The Preserve, Aspen Mountain and the Roaring Fork River. Completely renovated down to the exterior walls in 2005. Master bedroom and two of three guest suites offer wonderful decks and mountain views. Large media room with wet bar, 3-car garage, high ceilings on every level, air-conditioning, and very little below grade space. No transfer tax. Owner financing available.” 2012 Taxes: $8,297; HOA Dues: $200 Yr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/04/2013; Sold Date: 02/19/2013. (Photos and broker comments courtesy of Joshua & Co.)

MLS #122661 – Aspen, East Aspen, Mountain Valley single family home, 257 Mountain Laurel Drive, Aspen, CO: Sold Price: $1,275,000/$620 sq ft unfurnished. More details below photos.

MLS #122661 – Aspen, East Aspen, Mountain Valley single family home, 257 Mountain Laurel Drive, Aspen, CO: Sold Price: $1,275,000/$620 sq ft unfurnished; Asking Price: $1,599,000. (Original Price: $1,700,000 and 529 days on the market since 09/07/2011.) This is a 1969 built/2000 remodeled, 4 bedroom/2 bath, 2,013 sq ft single family home on 0.37 acres. Broker comments are, “Take in the views of Aspen and Shadow Mountains from this upgraded, bright and airy Mountain Valley home which enjoys privacy and all day sun. Numerous features including a 2-story living room with abundant windows to bring in the light, private master suite, gas-log fireplace, office, large deck (engineered for a hot tub), small flat yard with perennial flowers, mature trees and sprinkler system, parking area for 4 cars and additional storage. 4th bedroom is currently being used as an office and is air conditioned. Lower level has private and separate entrance. Well priced for today’s market conditions. 2000 remodel incl expanded parking area, landscaping, new exterior staircase and steps, new roof with the add. of gutters and heat-tape, add. of the office and entryway, new carpet/paint and ext. staining, new and enlarged windows, new sliding glass doors, kitchen update with new appliances, countertops, cupboards, new and expanded deck, and re-plumbing, re-wiring, re-insulating and new drywall.” 2011 Taxes: $4,540; HOA Dues: $200 Yr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 12/12/2012; Sold Date: 02/15/2013. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s.)

MLS #128654 – Snowmass Village, Viceroy condo, 130 Wood Road 424, Snowmass Village, CO: Sold Price: $267,250/$680 sq ft furnished. More details below photos.

MLS #128654 – Snowmass Village, Viceroy condo, 130 Wood Road 424, Snowmass Village, CO: Sold Price: $267,250/$680 sq ft furnished; Asking Price: $289,000. (Original Price: $289,000 and 71 days on the market since 02/11/2013.) This is a 2010 built, 393 sq ft studio with 1 bath. Broker comments are, “New Condominium units now available at the world-acclaimed Viceroy. Ski in-Ski-out in Snowmass’ Base Village, there is nothing else like in the Aspen/Snowmass market for wholly-owned condominiums. Exceptional Assay Hill views greet you in this studio suite, with an oversized master bathroom and opulent soaking tub. Leed Gold Certified property. One time Base Village Metro Fee paid by Buyer $5,150.” 2012 Taxes: $2,292; HOA Dues: $9,664 Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 02/10/2013; Sold Date: 02/21/2013. (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 blog 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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Aspen Snowmass Real Estate Weekly Market Update Report Closed and Under Contract