The Estin Report - Aspen, Colorado
The Estin Report - Aspen, Colorado The Estin Report - Aspen, Colorado The Estin Report - Aspen, Colorado

  The Estin Report
 
Aspen real estate intelligence ©

  

Be informed, be educated, be advised by one the town's best real estate brokers according to local media. Aspen Sotheby's Int'l broker agent Tim Estin MBA, GRI authors the primary market guide for Aspen Snowmass real estate, homes for sale and property info - the #1 trusted Aspen real estate market resource.  Original reports and over 14,000 pages of current and archived content. Call Tim for expert guidance and counsel.

   The Estin Report
      
Aspen real estate intelligence ©

 

Be informed, be educated, be advised by one the town's best real estate brokers according to local media. Aspen Sotheby's Int'l broker agent Tim Estin MBA, GRI authors the primary market guide for Aspen Snowmass real estate, homes for sale and property info - the #1 trusted Aspen real estate market resource. Original reports and over 14,000 pages of current and archived content. For expert guidance and counsel, please call or txt 970.309.6163.

Tim Estin

Tim Estin MBA, GRI
970.309.6163 cell + text

 



Broker Associate
Aspen Snowmass Sotheby's
International Real Estate
300 S.Spring St #100
Aspen, CO 81611

 

Aspen, CO
Mountain Standard Time 
(MST)

 

Feb 2017
Low-Down

Heading into peak
season: Feb-Apr.
Sales activity rising
significantly...
think Trump trade:
Financial markets up.
Rates rising.
Inventory declining in
most desirable areas.
Market favors sellers
in West End and
Downtown Core,
but favors buyers
outside these areas
where greater 
opportunities exist.
Two tiered
pricing levels:
1) New-built
contemporary =
> greater demand
> premium prices;
2) Everything else =
 > more days on
market

< less demand 
> more negotiable
> better possible
discounts

> more seller

motivation.

During Recession,
there was little
new construction
creating a 4-5 yr
void in new product.
New product sales

now are raising 
the comparable avgs.
whch masks realtiy
for older home

for sale where

it's tougher.

 

See recent 2/23/17 WSJ
on 
luxury home sales,
"High-end home sellers

across the country are

offering discounts as

luxury market softens...

Buyers are very price

sensitive...If it’s not

priced right it’s going to
sit until the cows come
home...expensive

trophy estates have

generally become

challenging to sell

to today’s ...millennial

buyers....these behemoth

trophy properties… have

become very hard to sell

to the people who can

afford them.”

 

 

(See Interest Rate Historical Chart

since 1790 and

Consumer Price Calculator)

 

 

The Estin Report - Aspen, Colorado
The Estin Report - Aspen, Colorado
The Estin Report - Aspen, Colorado


The Estin Report: April 2016 Aspen Snowmass Real Estate Market Snapshot was released May 6, 2016 in Current Reports.  The Monthly Snapshots are posted on or near the 1st Monday of the month. 

Excerpt from the April 2016 Aspen Snowmass Real Estate Market Snapshot: 

"Bottom line: The Aspen Snowmass real estate market continued its significant retreat this year from a sizzling 2015. For the total combined marketplace. April 2016 had the poorest April sales activity in the past eight years since April 2009. The Aspen market alone is off 44%-61% year-to-date and in specific property categories and neighborhoods the decline is more. This is even though April is typically one of the highest performing months of the year as buyers close on property placed under contract during the ski season."

See recent Before/After redevelopment 'flip job' examples in Miscellaneous Info at the bottom of the Menu Bar on the left. These are properties that have been recently or are currently being redeveloped for re-sale. This post is updated (02/16/16) as additional re-sale properties come on the market at significantly higher prices.

Last week's Aspen and Snowmass sales activity appears below. Scroll down the page for photos and details of weekly sales 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 to 2008. Or use SearchEstinAspen in the menu bar to search by topic, address, subdivision, complex, date, etc.  If it's about Aspen real estate, the information should be here.

_______________________


Market Activity Week 19, May 8 - 15, 2016

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 here to preserve an archive of sold market activity.


Closed (5)MLS#'s: 139686, 141635, 143219, 143941, 139731. This link is valid until 6/14/2016.

Under Contract/Pending (4)MLS#'s: 141636, 141642, 142139, 143952. This link is valid until 6/14/2016.


Aspen Snowmass Solds Last Week: 

MLS #139686 - Pitkin Row, 120 S Spring Street 1, Aspen, CO. Sold Price: $6,500,000/$1,976 sq ft; unfurnished. More details below photos.

Aspen real estate 05152016 139686 120 S Spring Street 1 1 590W  Aspen real estate 05152016 139686 120 S Spring Street 1 2 590W  Aspen real estate 05152016 139686 120 S Spring Street 1 3 190H Aspen real estate 05152016 139686 120 S Spring Street 1 4 190H  Aspen real estate 05152016 139686 120 S Spring Street 1 5 190H Aspen real estate 05152016 139686 120 S Spring Street 1 6 190H

MLS #139686 - Pitkin Row, 120 S Spring Street 1, Aspen, CO. Sold Price: $6,500,000/$1,976 sq ft; unfurnished. Asking Price: $6,975,000. (Original Price: $6,975,000 and 205 days on the market since 06/19/2015.) This is a 1989 built and 1998 remodeled, 3 bedroom/3 bath/1 half-bath, 3,288 sq ft townhouse with 2 car garage. Broker comments are "Here’s what you and your buyers have been waiting for: Central Core, rooftop deck, Aspen Mountain views, 2-car garage. Located on the corner of Spring and Hopkins, short walk to Aspen Art Museum, the Silver Queen Gondola and Spring Café." 2015 Taxes: $11,296; HOA Dues: $6,838 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/18/2016; Sold Date: 05/06/2016. (Photos and broker comments courtesy of Compass)

MLS #141635 - Gant, 610 S West End Street D104, Aspen, CO. Sold Price: $1,025,000/$1,051 sq ft; furnished. More details below photos.

Aspen real estate 05152016 141635 610 S West End Street D104 1 590W  Aspen real estate 05152016 141635 610 S West End Street D104 2 590W  Aspen real estate 05152016 141635 610 S West End Street D104 3 190H Aspen real estate 05152016 141635 610 S West End Street D104 4 190H  Aspen real estate 05152016 141635 610 S West End Street D104 5 190H Aspen real estate 05152016 141635 610 S West End Street D104 6 190H

MLS #141635 - Gant, 610 S West End Street D104, Aspen, CO. Sold Price: $1,025,000/$1,051 sq ft; furnished. Asking Price: $1,095,000. (Original Price: $1,095,000 and 582 days on the market since 09/26/2013.) This is a 1972 built and 2011 remodeled, 2 bedroom/2 bath, 975 sq ft condo. Broker comments are "Convenient ground floor location in quiet setting. Beautiful views of the gondola and Aspen Mountain. Enjoy the seasonal stream and lawn area just off of the patio all summer long. A very special spot on a very special condominium property. The Gant is Aspen's premier resort. Great location just a short walk to the Aspen Club, local trails and the Gondola. The property features two pools, hot tubs, gym, café and conference facility and hard/clay tennis courts. Convenient shuttle service to the airport and around town. Onsite management and concierge. Seller has paid the Special Assessment paid in full!!!!" 2014 Taxes: $2,732; HOA Dues: $24,290 per Yr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/14/2016; Sold Date: 05/09/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Hyman Mall)

MLS #143219 - Gateway To Snowmass, 1246 Gateway Road, Snowmass, CO: Sold Price: $479,000/$270 sq ft; unfurnished. More details below photos.

Aspen real estate 05152016 143219 1246 Gateway Road 1 590W  Aspen real estate 05152016 143219 1246 Gateway Road 2 190H Aspen real estate 05152016 143219 1246 Gateway Road 3 190H  Aspen real estate 05152016 143219 1246 Gateway Road 4 190H Aspen real estate 05152016 143219 1246 Gateway Road 5 190H

MLS #143219 - Gateway To Snowmass, 1246 Gateway Road, Snowmass, CO: Sold Price: $479,000/$270 sq ft; unfurnished. Asking Price: $479,000. (Original Price: $479,000 and 49 days on the market since 03/23/2016.) This is a 1985 built and 1998 remodeled, 3 bedroom/2 bath, 1,771 sq ft single family residence with 2 car garage on a 45,302 sq ft lot. Broker comments are "Unique opportunity to purchase a finished shell of a residential home. Remodel or completely rebuild to suit your needs on more than one acre. Interior is COMPLETELY stripped to the beams and studs. No finishes, no fixtures, no appliances, no improvements. Easy approvals for a 5,750 sf home or renovation. Fantastic views of the Old Snowmass valley floor and only five minutes to Highway 82 and 10 minutes from Basalt. Large detached garage, expansive deck, two storage sheds, hot tub, and more. Hiking and biking outside your door. Horseback riding, rafting, shopping, dining, post office, library, RFTA lot, fishing only minutes away. Desirable and attractive area, but quiet and private neighborhood and location. Crawl space. Residence vacant. See documents for more detail. Sold as is." 2015 Taxes: $3,828; HOA Dues: $TBD. Under Contract Date: 03/29/2016; Sold Date: 05/11/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Basalt)

No Photo Available in MLS for this commerical industrial in Snowmass Village.

 

MLS #143941 - 16 Kearns Road, Snowmass Village, CO: Commercial Property. Sold Price: $16,000,000 sq ft. Asking Price: $16,000,000. (Original Price: $16,000,000 and on and off on the market since 03/18/2010.) This is a 1978 built, 43,000 sq ft commercial industrial on a 870,000 sq ft lot. Broker comments are "Non MLS sale." 2015 Taxes: $80. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 03/31/2016; Sold Date: 03/31/2016. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)

MLS #139731 - Wood Run V, 90 Village Bound Road #19, Snowmass Village, CO: Slopeside Townhome: Sold Price: $2,000,000/$648 sq ft; furnished. More details below photos.

Aspen real estate 05152016 139731 90 Village Bound Road 19 1 590W  Aspen real estate 05152016 139731 90 Village Bound Road 19 2 590W  Aspen real estate 05152016 139731 90 Village Bound Road 19 3 190H Aspen real estate 05152016 139731 90 Village Bound Road 19 4 190H  Aspen real estate 05152016 139731 90 Village Bound Road 19 5 190H Aspen real estate 05152016 139731 90 Village Bound Road 19 6 190H

MLS #139731 - Wood Run V, 90 Village Bound Road #19, Snowmass Village, CO: Slopeside Townhome: Sold Price: $2,000,000/$648 sq ft; furnished. Asking Price: $2,100,000. (Original Price: $2,574,000 and 963 days on the market since 05/30/2013.) This is a 1981 built and 2008 remodeled, 3 bedroom/4 bath/1 half-bath, 3,085 sq ft townhouse. Broker comments are "The original Snowmass developers had their choice as to where to create luxurious slopeside townhomes and were not as concerned about the number of approved units as they were about the sizes of the interior spaces. Welcome to Woodrun V Townhomes where you can ski to and from your private patio that abuts Adams Avenue ski trail and which feeds directly onto Fanny Hill. The interior of this 3085 sq ft, 3 bedroom townhouse(all suites) plus den was beautifully remodeled in 2008 with the highest of finishes. The entire property also underwent a major exterior renovation in 2006. At the foot of the ski slopes, you'll enjoy easy access to the Snowmass Mall and Base Village. Plus, the community bldg has a large heated pool and hot tub area. At Woodrun V, opulence is combined with value." 2015 Taxes: $7,106; HOA Dues: $6,133 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 03/24/2016; Sold Date: 05/09/2016. (Photos and broker comments courtesy of BERKSHIRE HATHAWAY HomeServices | Aspen Snowmass Properties)

 

Tim Estin welcomes your business, inquiries and comments. Call him at 970.309.6163 or email him from the Contact Page. 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:


Recent Estin Report tweets on Aspen Real Estate

 

EstinAspen Mar 12 - 19, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (5) + Under Contract (27) https://t.co/lWyx0P4xuO
EstinAspen Mar 5 - 12, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (7) + Under Contract (15) https://t.co/5TEYy2PeZG
EstinAspen Feb 26 - Mar 5, 17 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (5) + Under Contract (5) https://t.co/uxoY2PQdmk
EstinAspen #AspenRealEstate and others Down in 2016 as Colorado #MountainLuxuryRealEstate Sales Decline https://t.co/ilZ7NJ4htu
EstinAspen Feb 19 - 26, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (6) + Under Contract (14) https://t.co/nAiOLqoBCn
EstinAspen Feb 12 - 19, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (6) + Under Contract (11) https://t.co/LWU2jMWVYR
EstinAspen NEW! #EstinReport Historic Pace of Sales Charts by Quarter for #AspenHomes, #AspenCondos & Lots in #AspenRealEstate https://t.co/qBqWgHc0VP
EstinAspen January 2017 #EstinReport Just Released #AspenRealEstate Market Snapshot: https://t.co/6zV9Mx95YH

 

Disclaimer: The statements made in The Estin Report and on Aspen broker Tim Estin's blog represent the opinions of the author and should not be relied upon exclusively to make real estate decisions. A potential buyer and/or seller is advised to make an independent investigation of the market and of each property before deciding to purchase or to sell. To the extent the statements made herein report facts or conclusions taken from other sources, the information is believed by the author to be reliable, however, the author makes no guarantee concerning the accuracy of the facts and conclusions reported herein. Information concerning particular real estate opportunities can be requested from Tim Estin at 970.309.6163 or by emailThe Estin Report is copyrighted 2016 and all rights reserved. Use is permitted subject to the following attribution with a live link to the source: "The Estin Report on Aspen Real Estate."

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Tim Estin | www.EstinAspen.com | 970.309.6163 | 300 S.Spring St | Opposite the Aspen Art Museum

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