The Estin Report blog: Aspen Snowmass Weekly Real Estate Sales and Statistics: Closed (6) and Under Contract / Pending (8): Feb 3 – 10, 2013

Last weeks sales activity 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.

Under Contract / Pending (8) MLS #: 125840, 123926, 121703, 117755, 128057, 127804, 126811, 126813. This link is valid for 30 days until 03/10/2013. Photos and descriptions of under contracts are not posted unless special circumstances or significance dictate.

Closed (6) MLS #: 122896, 122769, 126213, 127847, 128088, 127301 .This link is valid for 30 days until 03/10/2013.

Select Aspen Snowmass Solds Last Week

MLS #122896 – Aspen, Central Core, Gavilon condo, 935 E. Hopkins Avenue, Unit 8, Aspen, CO: Sold Price: $560,000/$991 sq ft furnished. More details below photos.

MLS #122896 – Aspen, Central Core, Gavilon condo, 935 E. Hopkins Avenue, Unit 8, Aspen, CO: Sold Price: $560,000/$991 sq ft furnished; Asking Price: $589,000. (Original Price: $620,000 and 86 days on the market since 09/30/2010.) This is a 1972, 1 bedroom/1 bath, 565 sq ft condo. Broker comments are, ” Light and bright one bedroom condo in quiet well-maintained complex. 3 blocks to downtown core. Views of Aspen Mountain. Wood burning fireplace. Off street parking.Pets allowed with HOA approval.” 2011 Taxes: $1,280; HOA Dues: $1,011 Qtr; City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/11/2011; Sold Date: 02/08/2013. (Photos and broker comments courtesy of Amy Doherty Properties.)

MLS #122769 – Aspen, Central Core, Chateau Roaring Fork condo, 1039 E. Cooper Avenue, #36-B, Aspen, CO: Sold Price: $800,000/$720 sq ft furnished. More details below photos.

MLS #122769 – Aspen, Central Core, Chateau Roaring Fork condo, 1039 E. Cooper Avenue, #36-B, Aspen, CO: Sold Price: $800,000/$720 sq ft furnished; Asking Price: $895,000. (Original Price: $1,095,000 and 515 days on the market since 09/20/2011.) This is a 1969 built, 3 bedroom/2 bath, 1,110 sq ft condo. Broker comments are, “Dog friendly condo and great rental property. Chance to snag a 3-bedroom condo in downtown Aspen with all the amenities and a great location for a friendly price – perfect if you’ll do the updating! So, why is this well located condo only $895,000? It needs updating. Its 43 years old and has all the original décor. What an opportunity for someone looking to create their own special look and feel! This 1,110 SF condo has vaulted ceilings in all the rooms, 3 bedrooms, 2 bathrooms, a large kitchen-dining room–living room area with a real fireplace, and an easterly (sunny) facing deck – a prime space for a tasteful renovation. The problem for some people is that the Chateau Roaring Fork complex is right on the Roaring Fork River. This condo is perfect, since it is right next to the huge outdoor pool. But, if you like all the amenities and A+ location of the CRF complex, but don’t like the sound of the river, this is a perfect condo for you especially if you want to create your own special place. Another surprising benefit this unit has a Great Rental History. Note: Owner pet only.” 2011 Taxes: $3,166; HOA Dues: $2,776 Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/02/2013; Sold Date: 02/04/2013. (Photos and broker comments courtesy of Frias Properties.)

MLS #126213 – Aspen, Central Core, Midland condo, 601 S. West End Street, #6, Aspen, CO: Sold Price: $718,000/$1,289 sq ft furnished. More details below photos.

MLS #126213 – Aspen, Central Core, Midland condo, 601 S. West End Street, #6, Aspen, CO: Sold Price: $718,000/$1,289 sq ft furnished; Asking Price: $749,500. (Original Price: $749,500 and 190 days on the market since 06/29/2012.) This is a 1969 built/2011 remodeled, 1 bedroom/1 bath, 557 sq ft condo. Broker comments are, “Overlooking Glory Hole Park, this beautifully remodeled one-bedroom Midland Condominium is an elegant retreat. Interior finishes include granite, travertine, onyx, stainless appliances, Alder custom cabinets, built-ins, doors and trim. And gorgeous new furnishings are included! Other features: Wood-burning fireplace, 2 flat screen TVs, off-street parking, washer and dryer. The balcony overlooking the park invites you to enjoy a peaceful moment. Three blocks from the Gondola. Offered at $749,500 furnished: 2011 Taxes: $1,742; HOA Dues: $1,450 Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 10/22/2012; Sold Date: 12/19/2012. (Photos and broker comments courtesy of Coldwell Banker Mason Morse.)

MLS #127847 – Aspen, West Aspen, Castle Creek duplex, 735 Castle Creek Drive, #1, Aspen, CO: Sold Price: 2,125,000/$683 sq ft unfurnished. More details below photos.

MLS #127847 – Aspen, West Aspen, Castle Creek duplex, 735 Castle Creek Drive, #1, Aspen, CO: Sold Price: 2,125,000/$683 sq ft unfurnished; Asking Price: $2,495,000. (Original Price: $3,250,000 and 748 days on the market since 01/30/2009.) This is a 1979 built/1985 remodeled, 5 bedroom/4 bath, 3,107 sq ft duplex with 2 car garage. Broker comments are, “Incredibly private duplex located within walking distance to the West End. Great sun exposure and a wonderful floorplan with most living areas on one level. This is one of the few opportunities for a spacious home with a two car garage at this per square foot price. Lovely quiet local’s neighborhood. Large open living area with real wood-burning fireplace. Lower level ADU with separate entrance, kitchen and lots of storage.” 2011 Taxes: $5,780. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 12/17/2012; Sold Date: 01/31/2013. (Photos and broker comments courtesy of Whitman Fine Properties.)

MLS #128088 – Snowmass Village, Horse Ranch single family home, 950 Horse Ranch Road, Snowmass Village, CO: Sold Price: $3,415,000/$889 sq ft furnished. More details below photos.

MLS #128088 – Snowmass Village, Horse Ranch single family home, 950 Horse Ranch Road, Snowmass Village, CO: Sold Price: $3,415,000/$889 sq ft furnished; Asking Price: $3,495,000. (Original Price: $3,495,000 and 40 days on the market since 12/18/2012.) This is a 2007 built, 4 bedroom/4 bath/1 half bath, 3,841 sq ft single family home with 2 car garage on 0.53 acres. Broker comments are, “Wake up to views of all four Aspen/Snowmass ski mountains. Enjoy year round living with world-class skiing, hiking, biking, and nature right outside your doorstep. Indulge in this beautifully furnished home by award winning Slifer Design. Custom built features include hand hewn hard wood floors, exquisite beam trusses, stone fireplaces and finely detailed wood and granite finishes. Outdoor spaces include expansive walk-out decks, patio terraces, family fire pit, hot tub and extensive landscaping, including a beautiful water feature.” 2012 Taxes: $8,775; HOA Dues: $190 Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 01/21/2013; Sold Date: 01/30/2013. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s.)

MLS #127301 – Snowmass Village, Snowmass Mountain condo, 55 Upper Woodbridge Road, D-1, Snowmass Village, CO: Sold Price: $414,000/$414 sq ft furnished. More details below photos.

MLS #127301 – Snowmass Village, Snowmass Mountain condo, 55 Upper Woodbridge Road, D-1, Snowmass Village, CO: Sold Price: $414,000/$414 sq ft furnished; Asking Price: $425,000. (Original Price: $819,000 and 762 days on the market since 06/04/2008.) This is a 1973 built/1995 remodeled, 2 bedroom/2 bath, 1,000 sq ft condo. Broker comments are, “Spacious and bright 2-bdrm/ 2 ba condo. Located as an exterior end unit, one side of the property borders open space. This is an elevated, first floor unit with only one flight of stairs to the condo which allows for beautiful views. This condo also has a covered carport, which not all do, as well as an in-unit washer and dryer. Conveniently located across from the heated pool, jacuzzi and sauna in the club-house and the free Snowmass Shuttle stop.” 2012 Taxes: $1,295; HOA Dues: $1,540 Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 12/24/2012; Sold Date: 02/04/2013. (Photos and broker comments courtesy of B.J. Adams & Co.)

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