Aspen Real Estate Market  Last Week’s Sales: Aug 08 – 15, 21 – Week 33

Closed (10) and  Under Contract / Pending (20).  [To view the new blog post, you may have to “Clear your Browser Settings”.  Go to: Chrome browser/more tools/clear browsing data.] (Photos above of 917 S Mill courtesy of Coldwell Banker Mason Morse).

The Estin Report: 1st Half 2021 – Aspen Snowmass Real Estate Market Report was released in Estin Reports Section as downloadable PDF on Aug 17, 21.  The 32-Pg print edition will be available in a few weeks 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 Clarks Market, at the Aspen Chamber Info Kiosk across from Paradise Bakery and the Pitkin County (ASE) airport. 

First Half 2021 Excerpt:

The local inventory of properties for sale is at its lowest level of the past twelve years and prices have been rising dramatically. The simple math: demand way up; supply way down; prices up, up and away.

We are in a fast-moving market where comps are a trailing indicator.

Sellers everywhere, in Aspen and Snowmass Village and down valley – at all price points and property types – are testing the market with new pricing. It’s a seller’s game. At minimum, buyers are meeting the ask prices or within 1% – 3% of ask, if not over ask. “Deals” are history, few and far between. The reality is – it’s far more productive and profitable over time to accept today’s pricing than deal hunting. Yesterday’s sale was the deal you missed.

There’s a new floor being set and when there’s a correction, the good properties, well located and like-new, will offer the most effective hedge. The Great Recession proved this point emphatically. When things do go south,  on the next market cycle upwards, those properties in and closest to the Aspen Core,  will be the most liquid, will recover the fastest and appreciate more quickly than all others…Read more.

Blog Post: Aug 16, 2021 – Aspen CO real estate market activity, Week 33

Closed (10): MLS#s: 165304, 167937, 169889, 170272, 170436, 170644, 170727, 170755, 170927, 171570.  This link is valid until 9/14/2021.

Under Contract/Pending (20): MLS#s: 163428, 165350, 165382, 165995, 166305, 167716, 168333, 169990, 170030, 170371, 170412, 170477, 171106, 171348, 171378, 171431, 171478, 171481, 171492, 171527.  This link is valid until 9/14/2021.

Sold Properties Last Week:

MLS #171570 – Top Of Mill, Central Core, 917 S Mill Street, Aspen, CO; Sold Price: $25,500,000/$4,018 sq ft; partially furnished. Sold Off-Market on 08/13/2021. More details below photos.

MLS #171570 – Top Of Mill, Central Core, 917 S Mill Street, Aspen, CO; Sold Price: $25,500,000/$4,018 sq ft; partially furnished. Sold Off-Market on 08/13/2021. Ask Price: $29,000,000. (Original Price: $29,000,000.) This is a 2004 built and 2010 remodeled, 4 bedroom/5 bath/1 half-bath, 6,346 sq ft townhome. Broker comments are “Ski-In Ski-Out Townhome at the base of Aspen Mountain.” 2020 taxes: $48,094; HOA Dues: $28,592. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 07/06/2021; Sold Date: 08/13/2021. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)

MLS #170727 – Mountain Valley, East Aspen, 153 W Lupine Drive, Aspen, CO; Sold Price: $10,250,000/$1,943 sq ft; unfurnished. Sold Date: 08/06/2021. More details below photos.

MLS #170727 – Mountain Valley, East Aspen, 153 W Lupine Drive, Aspen, CO; Sold Price: $10,250,000/$1,943 sq ft; unfurnished. Sold Date: 08/06/2021. Ask Price: $10,950,000. (Original Price: $10,950,000 and 126 days on the market since 08/18/2020.) This is a 1995 built and 2007 remodeled, 5 bedroom/4 bath/1 half-bath, 5,273 sq ft single family home with 3 car garage on a 15,750 sq ft lot. Broker comments are “Exceptional mountain chic property with Aspen views 2 minutes to downtown. This unique estate has an elegant primary suite with fireplace, custom closet, dressing room and deck. A well-apportioned office is next to the master wing. There are three beautiful bedrooms on the main floor and the fifth bedroom is a private suite on the lower level. Amenities also include a state of the art gym, and a large media/rec room with a bar. Whether you are entertaining or spending time with family, the outdoor pool and living areas are a spectacular place to enjoy the beauty of Colorado. Come see this exclusive family retreat just minutes from Aspen!” 2020 taxes: $10,577; HOA Dues: $200. Under Contract Date: 06/29/2021; Sold Date: 08/06/2021. (Photos and broker comments courtesy of Christie’s International Real Estate Aspen Snowmass)

MLS #167937 – Central Core, 100 S Spring Street, Aspen, CO; Sold Price: $6,425,000 sq ft. Sold Date: 08/12/2021. More details below photos.

MLS #167937 – Central Core, 100 S Spring Street, Aspen, CO; Sold Price: $6,425,000 sq ft. Sold Date: 08/12/2021. Ask Price: $7,500,000. (Original Price: $7,500,000 and 195 days on the market since 12/20/2020.) This is a 2017 built, 2,635 sq ft commercial industria. Broker comments are “State-of-the-art commercial building in the downtown core of Aspen. Designed by Selldorf Architects and completed in 2017, the building features a striking exterior and beautiful interior finishes including polished concrete floors and excellent kitchenette. Just blocks from the gondola and steps to restaurants and shopping, the location can’t be beat. Enjoy sunlight filled rooms and views of Aspen Mountain from the upper floor and south facing deck. The building makes for a perfect downtown office/home base and there is also the possibility to convert the building to a single family home with City of Aspen approvals. Comes with two covered parking spaces.” 2020 taxes: $28,931. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 05/17/2021; Sold Date: 08/12/2021. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #165304 – Villas of Aspen, Condominium, West End, 100 N 8th Street 22, Aspen, CO; Sold Price: $3,750,000/$1,744 sq ft; unfurnished. Sold Date: 08/09/2021. More details below photos.

MLS #165304 – Villas of Aspen, Condominium, West End, 100 N 8th Street 22, Aspen, CO; Sold Price: $3,750,000/$1,744 sq ft; unfurnished. Sold Date: 08/09/2021. Ask Price: $3,600,000. (Original Price: $3,750,000 and 408 days on the market since 06/27/2020.) This is a 1972 built and 2012 remodeled, 3 bedroom/3 bath/1 half-bath, 2,150 sq ft condo. Broker comments are “A total 1-year remodel project, designed by Libman Design Group, was completed in 2014 including vaulted ceilings, a raised main level, and redesigned hidden duct work to create a clean, light-filled, contemporary West End Aspen townhome. A single-stringer metal floating staircase wrapped in glass, and a basalt ledgestone wall are an impressive design statement. Wide plank white oak flooring is throughout. The main level powder room features an end cut wood accent wall from Oregon. A linear gas fireplace warms the living room. The open kitchen with island bar includes solid slab quartzite counter tops, stainless Bosch and Miele appliances, and pantry. The generous west facing master suite boasts a large walk in closet and a secondary closet. A jetted Whirlpool tub, Water Works fixtures, an dual vanities and marble tile surround are found in the master bath. Separately zoned radiant heat, wall mounted A/C, and humidification on the upper level ensures year-round comfort. A third en suite bedroom plus a media/entertainment room with west facing windows, and a utility room with stackable washer dryer and storage completes the lower level. A tiled entry mud room with built-ins is ideal for an active lifestyle. This is the perfect West End townhome that checks all the boxes with low HOA’s, flexible rental policy, pets allowed, off-street assigned parking and the Hopkins Ave. Pedestrian Way and free RFTA bus nearby.” 2019 taxes: $6,683; HOA Dues:$8,874. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 05/20/2021; Sold Date: 08/09/2021. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #170272 – Alpenblick, Central Core, 630 S MILL Street 3-A, Aspen, CO; Sold Price: $3,700,000/$2,230 sq ft; furnished. Sold Date: 08/11/2021. More details below photos.

MLS #170272 – Alpenblick, Central Core, 630 S MILL Street 3-A, Aspen, CO; Sold Price: $3,700,000/$2,230 sq ft; furnished. Sold Date: 08/11/2021. Ask Price: $3,950,000. (Original Price: $3,950,000 and 78 days on the market since 05/25/2021.) This is a 1965 built and 1985 remodeled, 5 bedroom/2 bath/1 3/4-bath, 1,659 sq ft townhome. Broker comments are “Extremely rare opportunity to own a 5 bedroom townhouse 1.5 blocks to the gondola. This home has been under the same ownership for almost 60 years. Living on three levels, with views of Ajax mountain, this home boasts a wood burning fireplace, 5 bedrooms, 3 baths, and apropos Tyrolean Swiss architecture. Opportunities of this kinds rarely present themselves in the Aspen market place. Some light remodeling could make this property the envy of the aspen core, to be enjoyed for generations to come.” 2020 taxes: $6,183; HOA Dues:$21,231. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 07/06/2021; Sold Date: 08/11/2021. (Photos and broker comments courtesy of Whipple & Brewster Real Estate)

MLS #170436 – South Point, Condominium, Central Core, 205 E Durant Avenue 3G, Aspen, CO; Sold Price: $2,900,000/$2,959 sq ft; furnished. Sold Date: 08/09/2021. More details below photos.

MLS #170436 – South Point, Condominium, Central Core, 205 E Durant Avenue 3G, Aspen, CO; Sold Price: $2,900,000/$2,959 sq ft; furnished. Sold Date: 08/09/2021. Ask Price: $2,900,000. (Original Price: $2,900,000 and 66 days on the market since 06/04/2021.) This is a 1967 built, 2 bedroom/2 bath, 980 sq ft condo. Broker comments are “Under Contract Before MLS. Located on the top floor, this two bed/two bath unit with views of Red Mtn and Smuggler is not to be missed. The South Point building comes with the complete package; downtown convenience, a lobby entrance with an elevator, garage parking, ski locker, and a storage room. The approved plans for the redevelopment of Lift 1A would make this building ski-in/ski-out, a rarity for Aspen.” 2020 taxes: $5,207; HOA Dues:$7,264. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 06/09/2021; Sold Date: 08/09/2021. (Photos and broker comments courtesy of Setterfield & Bright)

MLS #169889 – Le Chamonix, West Aspen, 1501 Maroon Creek Road 7, Aspen, CO; Sold Price: $2,245,000/$1,344. sq ft; unfurnished. Sold Date: 08/11/2021. More details below photos.

MLS #169889 – Le Chamonix, West Aspen, 1501 Maroon Creek Road 7, Aspen, CO; Sold Price: $2,245,000/$1,344. sq ft; unfurnished. Sold Date: 08/11/2021. Ask Price: $2,395,000. (Original Price: $2,395,000 and 127 days on the market since 04/06/2021.) This is a 1965 built, 3 bedroom/3 bath/1 half-bath, 1,670 sq ft townhome. Broker comments are “Located across the street from Aspen Highlands LeChamonix provides a little bit of everything; skiing and recreation, convenient access to Aspen and Snowmass Village, and peaceful mountain living. Renderings by Scot Broughton Architects.” 2020 taxes: $3,400; HOA Dues: $8,333. Under Contract Date: 06/11/2021; Sold Date: 08/11/2021. (Photos and broker comments courtesy of Setterfield & Bright)

MLS #170755 – Hunter Creek, Condominium, Smuggler, 1317 Vine Street, Aspen, CO; Sold Price: $675,000/$1,161 sq ft; furnished. Sold Date: 08/06/2021. More details below photos.

MLS #170755 – Hunter Creek, Condominium, Smuggler, 1317 Vine Street, Aspen, CO; Sold Price: $675,000/$1,161 sq ft; furnished. Sold Date: 08/06/2021. Ask Price: $675,000. (Original Price: $675,000 and 43 days on the market since 06/24/2021.) This is a 1980 built and 2012 remodeled, 1 bedroom/1 bath, 581 sq ft condo. Broker comments are “Hunter Creek ground floor 1 bedroom, 1 bath remodeled condo located steps away from the swimming pool, hot tub and tennis courts. Remodeled in 2012 with hardwood floors and appliances. Being Sold furnished.” 2020 taxes: $1,328; HOA Dues:$462. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 06/28/2021; Sold Date: 08/06/2021. (Photos and broker comments courtesy of Douglas Elliman Real Estate-Hyman Ave)

MLS #170927 – Melton Ranch, 3861 Brush Creek Road, Snowmass Village, CO; Sold Price: $2,000,000/$892 sq ft; unfurnished. Sold Date: 08/09/2021. More details below photos.

MLS #170927 – Melton Ranch, 3861 Brush Creek Road, Snowmass Village, CO; Sold Price: $2,000,000/$892 sq ft; unfurnished. Sold Date: 08/09/2021. Ask Price: $1,995,000. (Original Price: $1,995,000 and 35 days on the market since 07/05/2021.) This is a 1968 built, 3 bedroom/3 bath, 2,240 sq ft single family home on a 22,984 sq ft lot. Broker comments are “Well-built and impeccably maintained Melton Ranch home located in the Aspen School District. Situated on a 0.52-acre lot with an expansive yard, mature trees and beautiful landscaping. South facing windows and a covered deck offer picturesque views of the Brush Creek Valley and towards Sam’s Knob. Inviting floor plan with open kitchen, plenty of living space and two spacious bedrooms and bathrooms on the upper level. There is a third bedroom and full bath, living room, kitchen and laundry area on the lower level. Use as extra living space or rent out as separate mother-in law unit for additional income. Conveniently located right on RFTA, Snowmass Village shuttle and school bus routes. Easy access to ski slopes, grocery store, restaurants and shopping. This is a great opportunity for families wanting to be in the Aspen School District or for someone looking to expand or redevelop a fantastic lot with wonderful views. Per Town of Snowmass Village, the home can be expanded up to 3,447 sq.ft. See addendum for details.” 2020 taxes: $3,934; HOA Dues: $150. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 07/08/2021; Sold Date: 08/09/2021. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Snowmass Village)

MLS #170644 – Country Club Villas, Condominium, 150 Snowmass Club Circle Unit 1627, Snowmass Village, CO; Sold Price: $995,000/$896 sq ft; furnished. Sold Date: 08/09/2021. More details below photos.

MLS #170644 – Country Club Villas, Condominium, 150 Snowmass Club Circle Unit 1627, Snowmass Village, CO; Sold Price: $995,000/$896 sq ft; furnished. Sold Date: 08/09/2021. Ask Price: $995,000. (Original Price: $995,000 and 40 days on the market since 06/21/2021.) This is a 1987 built and 2003 remodeled, 2 bedroom/2 bath, 1,110 sq ft condo. Broker comments are “Enjoy the best views in Snowmass in this 1110 square foot 2 bedroom/2 bath. A coveted corner unit, with no traffic by bedroom windows and extra windows in the living room and master bedroom. Sit on your deck with its majestic views of Mt. Daly and the ski slopes. Hiking, biking, free cross country trails are all right out your door. Just 5 minutes on the free shuttle to the Two Creeks ski lift. Comes with the option for a transferrable membership to the Snowmass Club. Walk across the street to the Club to enjoy several pools, indoor and outdoor jaczzis, free fitness classes, indoor and outdoor tennis. Plus $35/round golf for owners. Aspen is a short 15 min. drive down Owl Creek Rd. Rental and pet friendly. Exclusions: All art and sculptures. Checkers table with two adjacent chairs and “book” lamp in living room. Two nightstands with table lamps in the master bedroom.” 2020 taxes: $2,426; HOA Dues: $13,068. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 07/10/2021; Sold Date: 08/09/2021. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Snowmass Village)

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