Tim Estin MBA, GRI

Aspen CO Real Estate Broker

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Bottom Line Aug 2, 21 - excerpt from H121 report: 

We are more than half-way through the summer season and things remain hyper-active and busy. We are seeing new properties come on the market at speculative prices where recent sold comps are no longer necessarily determinative reference points. Today's sold is not tomorrow's comp...it's 15-30% higher. Brokers are scratching their heads and saying "I guess we'll see..." In a low inventory real estate market with surging demand, pricing and appraising is exceedingly difficult and is simply whatever the market will bear.

In H1 2021, there were 36 single family homes sold over $10M versus 15 same time last year, that’s up 140%; the median Aspen home sold at $9.7M, the avg price was $12.5M. Homes are regularly selling at almost $2,000 per sq ft, and for newer or remodeled like-new product, it's now $3,000-4,000 sq ft. Six months ago it was $2,500-3,000 sq ft.

Inventory of Aspen homes for sale has fallen to its lowest level in 10 years. From (782) properties for sale in H1 12 to (443) in H1 21, down 5.5% per year or down 43% total.

In Snowmass Village, inventory of homes for sale has fallen even more: From (589) homes for sale in H112 to 304 in H121, down 6.4% per year or down 48% in total.

From 2009-2019, the typical Snowmass Village discount to Aspen home prices plummeted to 50-60%. Before then and historically, it was 25-30%. In the past 18 months, as Base Village is comes closer to completion and build-out, the gap has been closing to now its approximately 30-40%.

The Estin Report June 2021 YTD Aspen Snowmass real estate market report was posted July 4th in the Estin Reports section. The report compares Aspen Snowmass sales activity from 2021-2018 year-over-year by property type, by price and by neighborhoods. Scroll down to a summary table in yellow.

The June 2021 YOY increase in Aspen and Snowmass sales activity is staggering. My Bi-annual 2021 report will break this down comparing H1 2021 through H1 2019. It’s in process now.

The Estin Report Aspen Snowmass Market 2021 ws was released in Jan in Estin Reports. It can be read online or downloaded as PDF. The 32-Pg print edition is available outside Sotheby's 300 S Spring St (my office across from the Aspen Art Museum), Sotheby's 415 E Hyman on the Hyman Mall, at the Aspen Chamber Info Kiosk across from Paradise Bakery and the Pitkin County (ASE) Airport.

Read More

  • Q1 2021: Aspen Snowmass Sotheby’s Luxury Property Sales Market Share (Jan 1 – Mar 31, 21)

    Click images to enlarge.

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      “There are 3 stages of Aspen real estate inquiry: 
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      Aspen real estate broker and market expert.
      Your point man for finding peace in the mountains.

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      Featured Properties

      Exceptional and favorite Aspen CO and Snowmass CO homes for sale, worthy of special attention.. These selections change as properties list and sell.

      $35,000,000
      550 Aspen Alps Road, Aspen

      • 4 beds
      • 8 bath
      • 7,150 sq ft
      • 0.23 acres lot
      • $4,895 price/sq ft

      $5,950,000
      TBD Frying Pan Road, Basalt

      • Eagle County
      • 250.45 acres lot

      $17,950,000
      300 Horseshoe Drive, Basalt

      • 7 beds
      • 6 bath
      • 9,316 sq ft
      • 30.00 acres lot
      • $1,927 price/sq ft

      $13,900,000
      1430 Hooks Spur Road, Basalt

      • 7 beds
      • 8 bath
      • 7,860 sq ft
      • 36.77 acres lot
      • $1,768 price/sq ft

      Pending

      $5,200,000
      555 E Durant #2-L, Aspen

      • 3 beds
      • 2 bath
      • 1,342 sq ft
      • $3,875 price/sq ft

      $46,000,000
      1020 Carroll Drive #300, 310, 314, Aspen

      • 17 beds
      • 19 bath
      • 24,452 sq ft
      • 115.70 acres lot
      • $1,881 price/sq ft

      Pending

      $9,475,000
      75 N Starwood Drive, Aspen

      • 4 beds
      • 5 bath
      • 5,216 sq ft
      • 2.90 acres lot
      • $1,817 price/sq ft

      $32,000,000
      8720/8716 Castle Creek Road, Aspen

      • 8 beds
      • 10 bath
      • 9,060 sq ft
      • 21.20 acres lot
      • $3,532 price/sq ft

      $15,000,000
      114 Neale Avenue, Aspen

      • 5 beds
      • 6 bath
      • 4,088 sq ft
      • 0.14 acres lot
      • $3,669 price/sq ft

      Best Deals

      Identifying the best deals in Aspen CO real estate. This selection of Aspen homes for sale changes as deals come and go.

      Flip Jobs: Before/After

      See what's possible. Before and after photos and descriptions of recent Flip Jobs of Aspen CO homes for sale from 2014-2018.

      “Aspen is a little too close to Heaven”
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      to celebrate the bicentennial of Goethe’s birth
      in Aspen, CO in 1949.

      Find or Sell your Aspen Snowmass home with Aspen Realtor Tim Estin MBA, GRI
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