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The Estin Report Aspen Snowmass Real Estate Weekly Market Activity: (11) Closed and (3) Under Contract. Plus The Monarch: Solds Summary Sheet: Mar.15 -22, 2009

Closed (11):

• The Monarch - (10) Closings last week:
  The big event of last week was the official closing of (10) Monarch on the Park condo units. A total of (13) units were built and completed late 2008. This is the new construction on the west side of Wagner Park in center of downtown Aspen.

           See The Monarch: Summary Solds Spreadsheet (Details)

           Summary of The Monarch Closings:
                - Average discount to ask price = -9%
                - Average Sold Price = $5.73M
                - Average Price per Sq. Ft. = $2,002.

• MLS #109216: 100 Elbert Ln #L-1, Snowmass Village studio condo. Ask Price: $440,000. Sold Price: $410,000. ($766 sq ft) -7% of  ask price.

Pending/Under Contract (3):

• MLS #109794: 199 Capitol Creek Rd, Old Snowmass. Ask Price: $897,000. 2 Bdrm/2Ba
• MLS #108912: 117 N. Monarch #1, (Le Voteaux II complex). Ask Price: $2,495,000. ($1,313 sq ft), 3 Bdrm/3Ba, 1,900 sq ft condo.
• MLS #105740: 590 Meadow Rd, Melton Ranch, Snowmass Village. single family home. Ask Price $1,700,000. ($394 sq ft). 3Bdrm/2Ba, 4,313 sq ft. Total days on market 276. This property went under contract at an ask price of $2.395M for 2-3 months late fall 2008 into winter and fell out.The sellers had moved on and wanted it sold, and then reduced the price -28% to $1.7M.

Back On the Market (1)

• MLS # 107875: 75 Steeplechase at Aspen Highlands - ski-in/ski-out single family home directly on the slope. Ask Price: $9.2M (Original ask $12M in Nov 2008). 5 Bdrm/5 Ba, 8,723 sq ft, beautiful home built in 2004. Sellers paid $9.5M for property in 2005.

March 22, 2009 Market Facts
Present Active Listings (SF = single family homes)

Aspen & Woody Creek (WC)
Total SF listings Over $5M = 164
Total SF listings Over $6M = 124
Total SF listings Over $10M+ = 58

SF Hms active listings $5-10M  = 106
SF Hms active listings $10-15M = 30
SF Hms active listings $15-20M = 15
SF Hms active listings $20M+ = 13

Snowmass Village (SMV)
Total SF listings Over $5M = 32
Total SF listings Over $10M+ = 13

SF Hms active listings $5-10M  = 19
SF Hms active listings $10-15M = 7
SF Hms active listings $15-20M = 2
SF Hms active listings $20M+ = 4

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