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: 2nd Quarter and 1st Half 2016 State of the Aspen Market with narrative, charts, tables photos was posted in Current Reports as PDF (v6.5) late Wed. July 20 ...The June Market Snapshot will be posted late July 22-23, 16. The Monthly Snapshots are posted on or near the 1st Monday of the month but June is late due to work on the big half year report. 

Excerpt from May Snapshot:

"Depending on the metrics one looks at, the Aspen market is off by about 50% year-to-date through May 31, 2016 over last year...Aspen's most desirable locations, the West End and Red Mountain, have experienced little or no sales, and luxury sales of properties $10M and over, typically accounting for roughly 25-30% of total dollar sales, were 15% of the total market sales dollars in May 2016 YTD versus 27% in May 2015 YTD: $10M and over sales are down -64% in unit sales to (4) this year versus (11) last year and -71% in dollar sales to $48M in from $166M same time last year."

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 in the process of redevelopment for re-sale. This post is updated (05/16/16) as additional re-sale properties come on the market at significantly higher prices.

_______________________


Market Activity Week 29 July 10 - 17, 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.  Scroll down the page for home 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 quickly find 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.


Closed (6): MLS#s 140060, 139694, 143866, 142477, 144565, 132273 This link is valid until 8/16/2016.

Under Contract/Pending (13)MLS#'s: 142050, 134931, 139333, 140341, 142420, 143076, 143098, 143785, 143952, 143964, 144578, 144903, 144960. This link is valid until 8/16/2016.


Aspen Snowmass Solds Last Week: 

MLS #140060 - Townsite of Aspen, Central Core, 230 E Hopkins Avenue, Aspen, CO. Sold Price: $8,500,000 sq ft. More details below photos.
Aspen real estate 071716 140060 230 E Hopkins Avenue 1 590W  Aspen real estate 071716 140060 230 E Hopkins Avenue 2 590W  Aspen real estate 071716 140060 230 E Hopkins Avenue 3 190H Aspen real estate 071716 140060 230 E Hopkins Avenue 4 190H
MLS #140060 - Townsite of Aspen, Central Core, 230 E Hopkins Avenue, Aspen, CO. Sold Price: $8,500,000 sq ft. Asking Price: $8,500,000. (Original Price: $8,500,000 and 368 days on the market since 07/10/2015.) This is a 1963 built, 7,820 sq ft commercial industria on a 6,000 sq ft lot. Broker comments are "Excellent corner investment building in downtown Aspen with 4 commercial tenants and one apartment, plus parking spaces. Opportunity for upside in this Mixed-Use Zone adjacent to ''restaurant row'' and the Commercial Core Zone, right across from Francis Whitaker Park. Good views of Aspen Mountain. Total SF per Assessor is 7,820." 2015 taxes: $62,046. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 11/10/2015; Sold Date: 07/12/2016. (Photos and broker comments courtesy of Setterfield & Bright)
 
MLS #139694 - Concept 600, Central Core, 600 E Main Street 205, Aspen, CO. Sold Price: $ 1,590,000/$1,673 sq ft; furnished. More details below photos.
Aspen real estate 071716 139694 600 E Main Street 205 1 590W  Aspen real estate 071716 139694 600 E Main Street 205 2 190H Aspen real estate 071716 139694 600 E Main Street 205 3 190H  Aspen real estate 071716 139694 600 E Main Street 205 4 190H Aspen real estate 071716 139694 600 E Main Street 205 5 190H  Aspen real estate 071716 139694 600 E Main Street 205 6 285W Aspen real estate 071716 139694 600 E Main Street 205 7 285W
MLS #139694 - Concept 600, Central Core, 600 E Main Street 205, Aspen, CO. Sold Price: $ 1,590,000/$1,673 sq ft; furnished. Asking Price: $1,750,000. (Original Price: $1,850,000 and 380 days on the market since 6/22/2015.) This is a 1972 built and 2015 remodeled, 2 bedroom/2 bath, 950 sq ft condo. Broker comments are "Stage Fine Homes presents an incredible, fully renovated core condo! Designed in clean, contemporary style by Bennett Design-Build, this turn-key modern home is complete and ready to move-in! Features include new walnut kitchen with Viking induction appliances, bathrooms with Wetstyle vanities, Wood burning fireplace, French Oak hardwood floors throughout, air conditioning, heated bathroom floors, Stone feature wall, and so much more! Brand new patio doors/windows and front door. Views of Aspen Mountain from generously sized south facing patio. Building features garage parking, outdoor hot tub, and elevator access." 2015 taxes: $2,586; HOA Dues: $2,434 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 06/25/2016; Sold Date: 07/11/2016. (Photos and broker comments courtesy of Aspen International Properties)
 
MLS #143866 - Hunter Creek, Smuggler, 232 Vine Street, Aspen, CO. Sold Price: $595,000/$1,000 sq ft; partial-furnished. More details below photos.
Aspen real estate 071716 143866 232 Vine Street 1 590W  Aspen real estate 071716 143866 232 Vine Street 2 590W  Aspen real estate 071716 143866 232 Vine Street 3 190H Aspen real estate 071716 143866 232 Vine Street 4 190H  Aspen real estate 071716 143866 232 Vine Street 5 190H Aspen real estate 071716 143866 232 Vine Street 6 190H
MLS #143866 - Hunter Creek, Smuggler, 232 Vine Street, Aspen, CO. Sold Price: $595,000/$1,000 sq ft; partial-furnished. Asking Price: $599,000. (Original Price: $599,000 and 68 days on the market since 05/04/2016.) This is a 1980 built and 2009 remodeled, 1 bedroom/1 bath, 595 sq ft condo. Broker comments are "This property is for the sophisticated buyer who understands great design and a great location. Situated on the top floor West corner of the #2 building, you can relax on the deck while listening to the creek and enjoying your personal view of Sopris through the picture window. Reminiscent of Bauhaus style, the condo was gutted down to the studs. With Euro flavor, appliance package includes Miele stove, Leiberer refrigerator, and stainless sink. With LVT flooring, commercial carpet and tile, this home exudes contemporary in a very tasteful manner. It definitely has the ''Cool '' factor with the wall hung toilet, half-inch Glass surround for the shower and white Thermafoil Cabinetry. Added bonus is the thoughtfully planned alcove with hookups for washer /dryer. Enjoy Hunter Creek amenities of a large swimming pool, in-ground spa, tennis courts, rolling lawns and built-in BBQ's. The HOA dues are low despite the numerous facilities. Hunter Creek is a 10 minute walk to the heart of Aspen, a 5 minute ride by conveniently placed We-Cycles ,and 7 minute bus which comes every 20 minutes!" 2015 taxes: $1,165; HOA Dues: $220 per Month. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 05/20/2016; Sold Date: 07/11/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Hyman Mall)
 
MLS #142477 - Aspen Valley Downs, Tbd Aspen Valley Downs Road, Woody Creek, CO. Sold Price: $1,790,000. More details below photos.
Aspen real estate 071716 142477 Tbd Aspen Valley Downs Road 1 590W  Aspen real estate 071716 142477 Tbd Aspen Valley Downs Road 2 590W  Aspen real estate 071716 142477 Tbd Aspen Valley Downs Road 3 190H Aspen real estate 071716 142477 Tbd Aspen Valley Downs Road 4 190H
MLS #142477 - Aspen Valley Downs, Tbd Aspen Valley Downs Road, Woody Creek, CO. Sold Price: $1,790,000. Asking Price: $1,895,000. (Original Price: $1,895,000 and 1,253 days on the market since 08/21/2012.) This is a 796,277 sq ft single family vacant lot. Broker comments are "Aspen Valley Downs -A beautiful Upscale Ranch Community only 15 minutes from Downtown Aspen. Access to the back country is one of the many advantages. One of the few lots in Aspen Valley Downs allowing a barn! This magnificent 18.28 acre lot has sweeping views that include Aspen Mountain and Mount Sopris and everything in between. You must walk the property to appreciate all its potential! Fabulous John Galombos plans for a 7 bedroom, 10,750 square foot home plus barn building with pond system and water features are included." 2015 taxes: $29; HOA Dues: $7,500 per Yr. Under Contract Date: 03/09/2016; Sold Date: 07/15/2016. (Photos and broker comments courtesy of ENGEL & VÖLKERS)
 
MLS #144565 - Horse Ranch, 124 Trail Rider Lane, Snowmass Village, CO: Sold Price: $ 2,876,000/$802 sq ft. More details below photos.
Aspen real estate 071716 144565 124 Trail Rider Lane 1 590W  Aspen real estate 071716 144565 124 Trail Rider Lane 2 590W  Aspen real estate 071716 144565 124 Trail Rider Lane 3 190H Aspen real estate 071716 144565 124 Trail Rider Lane 4 190H
MLS #144565 - Horse Ranch, 124 Trail Rider Lane, Snowmass Village, CO: Sold Price: $ 2,876,000/$802 sq ft. Asking Price: $2,997,000. (Original Price: $2,997,000 and 149 days on the market since 06/09/2015.) This is a 1997 built and 2001 remodeled, 4 bedroom/4 bath/1 half-bath, 3,584 sq ft single family residence with 2 car garage on a 24,044 sq ft lot. Broker comments are "A one of a kind award winning Tim Hagman design home. Inspired by historic mining structures found throughout western Colorado, this unique collection of cottage forms is connected with a structural spine. Private location at the end of the street in a quiet cul-de-sac. Borders entrance to the Rim Trail giving easy access to hiking, biking and all surrounding natural beauty. Magnificent views of the ski area and surrounding mountains. Interior features include open floor plan, large den with ample room for the entire family to gather and unique ceilings combining contemporary industrial elements such as steel crossbeams with the rustic elements of timber trusses on the main floor. Private master bedroom suite. Stone fireplace. This home has it all!" 2015 Taxes: $9,660. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 06/07/2016; Sold Date: 07/15/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Snowmass Village)
 
MLS #132273 - Top of Village, 855 Carriage Way Summit 204, Snowmass Village, CO: Sold Price: $1,000,000/$689 sq ft. More details below photos.
Aspen real estate 071716 132273 855 Carriage Way Summit 204 1 590W  Aspen real estate 071716 132273 855 Carriage Way Summit 204 2 190H Aspen real estate 071716 132273 855 Carriage Way Summit 204 3 190H  Aspen real estate 071716 132273 855 Carriage Way Summit 204 4 253W Aspen real estate 071716 132273 855 Carriage Way Summit 204 5 190H
MLS #132273 - Top of Village, 855 Carriage Way Summit 204, Snowmass Village, CO: Sold Price: $1,000,000/$689 sq ft. Asking Price: $1,195,000. (Original Price: $1,499,000 and 904 days on the market since 11/14/2013.) This is a 1974 built and 1997 remodeled, 3 bedroom/3 bath, 1,450 sq ft condo. Broker comments are "Carefully selected for its slope-side views, this three-bedroom, three-bath second floor ''point'' unit radiates charm from every room. Its furnishings reflect passion for detail, quality and elegance. Summit 204 has been lightly owner used, never rented, and meticulously maintained making it an outstanding ski in/ski out purchase." 2015 Taxes: $3,842; HOA Dues: $13,445 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 05/25/2016; Sold Date: 07/13/2016. (Photos and broker comments courtesy of Douglas Elliman Real Estate-Hyman Ave)

 

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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