Aspen Real Estate Market Last Week's Sales: May 11 - May 18, 25 - Week 20 Read More
Excerpt: The billionaire manufacturing executive David MacNeil said, ”There’s really no bad time to buy great properties. No one ever regretted buying the very best, whether it is a premium collector car or a piece of premium real estate. Scared money chases bargains, and smart money chases excellence.”… Read More
427 Silverlode Dr Sells for $14M/$2,767 SF
Aspen Real Estate Market Last Week's Sales: May 4 - May 11, 25 - Week 19 Read More
Extraordinary Sales ‘Before MLS’ Setting New Heights and 447 W Bleeker St Sells at $33M/$5,304 SF Furn
In Apr 2025, there were (4) off market Aspen sales at extraordinary prices: (3) were over $50M and (1) was $33M. (Click table image to enlarge.) While these sales "before the MLS" do not get factored into average and median MLS sold price metrics, they are considered as markers and they do affect an upward price momentum in the market - at least for high-end, ultra luxury properties.
Given the general “uncertainty” prevalent in financial markets, and the media reporting of real estate sales falling through across the country, these sales deserve attention supporting the uniqueness and strength of our marketplace. Perhaps testament to hard assets, specifically Aspen real estate, gaining traction, confidence, over paper.
Property specific notes:
>270 Heather Ln Sells Before MLS at $53.3M/$7,517 SF
Built 2021, 6 Bdrm/7.5 Ba on one level on 1-acre bordering open space in the Meadowood Subdivision and walkable to Aspen District Schools.
>400 & 410 Lake Ave, premier West End location and street address, Lake Ave, with main and guest houses : 5,795 sf +1,708 sf = 7,503 sf
Lot size: 28,049 + 6,007 = 34,056 sf
These April sales reinforce what I wrote in early April for my Q1 & Mar 2025 Bottom Line: https://www.estinaspen.com/real-estate-market/q1-mar-2025-aspen-snowmass-real-estate-report/
"March was exceedingly strong with some very high-end sales in both Aspen and Snowmass Village. There were record price per sq ft sales in Aspen and record sale prices in SMV. The trend has been upwards as sold price per sq ft in the $5,000—$7,000 sf range becomes more frequent and “normalized’. The price pull continues upward. Whereas these sales used to be considered ‘outliers’ a year ago, their increasing frequency makes it more difficult to separate out, and they become a part of the overall pricing mix. In the past year, there have been (7) legit home sales in the $6-7,000 sold price per sf range. (This is excluding older homes purchases where at least 80%+ of the value is in the land.) Hence, prices are rising.
Reasons?
1. Aspen inventory of properties for sale remains at historically low levels;
2) Sales of new built single family homes are ‘pulling’ all home prices upwards
3) An increasingly restrictive land use code
4) The time to plan, design, build a new Aspen home is easily 4-5 years. In Snowmass Village, the construction “climate” is somewhat more relaxed, and likely to be less time onerous, but still 3-4 yrs.
5) Rising construction costs and labor competition
6) Escalating land costs and few quality choices, driving A+ locations stratospheric and the rest follow…"
Aspen Real Estate Market Last Week's Sales: April 27 - May 4, 25 - Week 18 Read More
2018 Built 526 W Hallam Sells for $18.8M/$4,362 SF Furn
Aspen Real Estate Market Last Week's Sales: April 20 - 27, 25 - Week 17 Read More
1225 Riverside Dr Sells for $18.55M/$3,781 SF Furn
Aspen Real Estate Market Last Week's Sales: April 13 - 20, 25 - Week 16 Read More
Aspen Times: Q125 Estin Report for Aspen Snowmass Real Estate Shows Growth
Article excerpt: According to the most recent Estin Report, a report by Aspen Snowmass Sotheby’s Broker Tim Estin, the first quarter of 2025 ended with a notable jump in prices and sales volume throughout Aspen and Snowmass Village. Two distinct yet complementary trends are driving this momentum: the introduction of… Read More
400 & 410 Lake Ave Sells Before the MLS at $52.45M/$6,990 SF Furn
Aspen Real Estate Market Last Week's Sales: April 6 - 13, 25 - Week 15 Read More
Another Big Snowmass Village Commercial Real Estate Deal as the Village Mall Goes Under Contract
A big part of the Snowmass Village Mall is about to change hands, according to public filings. This would be yet another notable shift in Snowmass Village’s commercial property scene, coming right on the heels of last week’s $144 million sale of the slopeside Viewline Resort Snowmass,… Read More
Snowmass’s Viewline Lodge Property Sells for $144M, ADN
Tim Estin, article excerpt: Since 2018, two condo projects have been completed every 18 to 24 months, according to broker Tim Estin in a recent real estate newsletter he produces. “In general, SMV has been on fire, selling at an approximate 40-60% discount to Aspen with a slew of… Read More
West End’s 320 W Bleeker Sells for $39M/$6,236 SF Part Furn
Aspen Real Estate Market Last Week's Sales: March 30 - April 6, 25 - Week 14 Read More
41 Salvation Circle on Red Mountain Sells for $23M/$3,940 SF Furn
Aspen Real Estate Market Last Week's Sales: March 23 - 30, 25 - Week 13 Read More