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)

 

Mar 2017
Low-Down

Heading into peak
season: Mar-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 4/13/17 WSJ, 
recent article

"High End Homes for Sale...
for Years..." 

 

And 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 Oct 2016 YTD Aspen Snowmass Real Estate Market Snapshot was posted on Mon Nov 7th in Current ReportsThe Monthly Snapshots are usually posted on or near the 1st Monday of the month. 

Oct 2016 Market Snapshot excerpt:

"Oct ‘16 is down considerably compared to the same time last year - as was Sep ‘16. Demand (sales) is way off; supply (inventory of properties for sale) is increasing. Prices, with the exception of unique and like-new properties, are trending downward especially as sellers seasonally adjust downward to post-summer, pre-winter realities and greater motivation sets in. An average 5-10% discount to ask price is common, and in some cases more. Pages 7 and 9 of this Market Snapshot identify sales by Aspen and Snowmass Village location/neighborhood with average sales to ask and original price discounts.

The time of maximum uncertainty is often the best time to get into the market. There have been some great buys in the past two months, and buyers would do well to dig deep, find motivated sellers and pull the purchase trigger. This "down" year is not going to last indefinitely and many believe there will be a post-election turnaround sooner than later."

The Estin Report: 2nd Quarter and 1st Half 2016 State of the Aspen Real Estate Market with narrative, charts, tables photos was posted in Current Reports as PDF (v6.6) July 20. The print edition is available at kiosks around town, at Sothebys/415 E. Hyman Mall, Sothebys/300 S. Spring St and at the airport. 

 

072016 Q2 H1 2015 Estin Report State of the Aspen Market cover final 96Res 350wX457

 

Click cover above for Exec. Summary and full 28-Pg Report PDF

See recent Before/After redevelopment 'flip job' examples in Miscellaneous Info Section 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 44, October 30 - November 6, 2016

Aspen Snowmass real estate weekly sales and under contract activity appears below for all Aspen, Snowmass Village, Brush Cr 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 (7): MLS#s 142387, 139804, 142667, 143014, 144818, 145724, 146575. This link is valid until 12/06/2016.

Under Contract/Pending (12)MLS#s 131717, 138848, 139458, 138729, 140131, 142426, 142690, 143169, 143292, 144720, 145704, 146586 This link is valid until 12/06/2016.

 

Aspen Snowmass Solds Last Week: 

MLS #146575 - West End, 602 N 4th Street, Aspen, CO. Sold Price: $4,250,000/$708 sq ft; unfurnished.

Aspen West End Home 602 N 4th 590w72res

MLS #146575 - West End, 602 N 4th Street, Aspen, CO. Sold Price: $4,250,000/$708 sq ft; unfurnished.  Asking Price: $4,395,000. (Original Price: $4,395,000.) This is a 1979 built, 4 bedroom/3 bath, 6,000 sq ft single family residence with a 2 car garage. Broker comments are "Sold before MLS." 2015 taxes: $8,246. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 08/15/2016; Sold Date: 11/01/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Hyman Mall)

MLS #144818 - Mountain Valley, East Aspen, 18 Mountain Laurel Court, Aspen, CO. Sold Price: $3,590,000/$633 sq ft; unfurnished. More details below photos.

Aspen real estate 110616 144818 18 Mountain Laurel Court 1 590W  Aspen real estate 110616 144818 18 Mountain Laurel Court 2 590W  Aspen real estate 110616 144818 18 Mountain Laurel Court 3 190H Aspen real estate 110616 144818 18 Mountain Laurel Court 4 190H  Aspen real estate 110616 144818 18 Mountain Laurel Court 5 190H Aspen real estate 110616 144818 18 Mountain Laurel Court 6 190H

MLS #144818 - Mountain Valley, East Aspen, 18 Mountain Laurel Court, Aspen, CO. Sold Price: $3,590,000/$633 sq ft; unfurnished. Asking Price: $3,850,000. (Original Price: $5,495,000 and originaly listed on 03/08/14. On/Off market since then with price lowered to $4.495M on 06/12/15; then reduced again to $3.895M on 06/24/16.) This is a 1971 built and 1997 remodeled, 4 bedroom/5 bath, 5,670 sq ft single family residence with a 3 car garage on a 18,439 sq ft lot. Broker comments are "Priced to sell. 1 Mile to Core. Panoramic views of North Star Preserve & Independence Pass. One of best and unique view sites in Aspen. Suited for a primary home, 2nd home or investment property, Attractive creative financing options: Seller interest only up to $2M or attractive conventional options. Expansive floor to ceiling windows enhance the openess and and capture the wrap around panorama. Large well equipped kitchen. Each of 4 ensuite bedrooms has a comfortable amount of privacy. Lower level has flexibility to have a media area, office, workout & billiards area. 3 car garage with studio above. True Dimensions Sq. Ft: 5670 total sf total includes main house and 534sf studio/office above 3 car garage!" 2016 taxes: $6,777; HOA Dues: $225 per Yr. Under Contract Date: 07/15/2016; Sold Date: 11/01/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Hyman Mall)

MLS #139804 - Fasching Haus, Central Core, 747 S Galena Street 340/440, Aspen, CO. Sold Price: $1,375,000/$1,297 sq ft; furnished. More details below photos.

Aspen real estate 110616 139804 747 S Galena Street 340 440 1 590W  Aspen real estate 110616 139804 747 S Galena Street 340 440 2 590W  Aspen real estate 110616 139804 747 S Galena Street 340 440 3 190H Aspen real estate 110616 139804 747 S Galena Street 340 440 4 190H  Aspen real estate 110616 139804 747 S Galena Street 340 440 5 285W Aspen real estate 110616 139804 747 S Galena Street 340 440 6 285W

MLS #139804 - Fasching Haus, Central Core, 747 S Galena Street 340/440, Aspen, CO. Sold Price: $1,375,000/$1,297 sq ft; furnished. Asking Price: $1,495,000. (Original Price: $1,495,000 and 829 days on the market since 06/16/2014.) This is a 1969 built and 2014 remodeled, 2 bedroom/3 bath, 1,060 sq ft condo. Broker comments are "Top floor 2 bedroom plus den with a contemporary feel. The recently redone unit was designed by Barbara Mullen Interiors in 2014 and includes a new kitchen. Strong rental history. New washer/dryer. Could easily be changed back to a 3 bedroom." 2015 taxes: $2,716; HOA Dues: $4,013 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 08/31/2016; Sold Date: 10/31/2016. (Photos and broker comments courtesy of Douglas Elliman Real Estate-Hyman Ave)

MLS #142387 - Little Elk Creek, 61 Davidson Lane, Snowmass, CO: Sold Price: $567,500/$414 sq ft; unfurnished. More details below photos.

Aspen real estate 110616 142387 61 Davidson Lane 1 590W  Aspen real estate 110616 142387 61 Davidson Lane 2 590W  Aspen real estate 110616 142387 61 Davidson Lane 3 190H Aspen real estate 110616 142387 61 Davidson Lane 4 190H  Aspen real estate 110616 142387 61 Davidson Lane 5 190H Aspen real estate 110616 142387 61 Davidson Lane 6 190H

MLS #142387 - Little Elk Creek, 61 Davidson Lane, Snowmass, CO: Sold Price: $567,500/$414 sq ft; unfurnished. Asking Price: $555,000. (Original Price: $599,000 and 1,320 days on the market since 12/18/2012.) This is a 1981 built, 3 bedroom/2 bath, 1,368 sq ft single family residence on a 1.92 acres lot. Broker comments are "Cozy ranch style home with updated kitchen and wood burning stove. Sunny south facing deck with hot tub. Large pond in front of house used for lawn sprinklers. Bring your horses for the fenced pastures or enjoy the mountain views with open space. Come home to Little Elk Creek." 2015 Taxes: $3,861; HOA Dues: $750 per Qtr. Under Contract Date: 08/23/2016; Sold Date: 11/03/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Hyman Mall)

MLS #142667 - Capitol Peak, 110 Carriage Way 3407, Snowmass Village, CO: Sold Price: $900,000/$936 sq ft; furnished. More details below photos.

Aspen real estate 110616 142667 110 Carriage Way 3407 1 590W  Aspen real estate 110616 142667 110 Carriage Way 3407 2 590W  Aspen real estate 110616 142667 110 Carriage Way 3407 3 190H Aspen real estate 110616 142667 110 Carriage Way 3407 4 190H  Aspen real estate 110616 142667 110 Carriage Way 3407 5 190H Aspen real estate 110616 142667 110 Carriage Way 3407 6 190H

MLS #142667 - Capitol Peak, 110 Carriage Way 3407, Snowmass Village, CO: Sold Price: $900,000/$936 sq ft; furnished. Asking Price: $925,000. (Original Price: $925,000 and 2,108 days on the market since 12/17/2010.) This is a 2008 built, 2 bedroom/2 bath, 961 sq ft condo. Broker comments are "961 sq.ft.per assessor Penthouse corner 2 Bedroom, 2 bath with Central A/C. Sleeps 6 Adults. King in Master. Great large balcony with views of Mt.Daily and high vaulted ceilings. Unit offers the best of ski-in, ski-out location in Snowmass. Steps from the New Base Village Mall with restaurants, shopping,and right between the new Elk Camp Gondola and Snowmass 6 person high speed Chairlift. The unit is located in Capitol Peak 2A, which is the building that is right next to the Tree House. The unit comes new and furnished turnkey down to the silverware. Location and Location! Also, extra large storage locker downstairs, w/d in unit, parking space in gated section of garage, elevator right to unit, 2 Oversized hot tubs, pool table, and complete fitness area. Just 50 ft. from Elk Camp gondola." 2016 Taxes: $5,214; HOA Dues: $3,538 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 10/03/2016; Sold Date: 10/31/2016. (Photos and broker comments courtesy of Aspen Snowmass Real Estate, LLC)

MLS #145724 - Viceroy, 130 Wood Road 340, Snowmass Village, CO: Sold Price: $470,000/$860 sq ft; furnished. More details below photos.

Aspen real estate 110616 145724 130 Wood Road 340 1 590W  Aspen real estate 110616 145724 130 Wood Road 340 2 590W  Aspen real estate 110616 145724 130 Wood Road 340 3 190H Aspen real estate 110616 145724 130 Wood Road 340 4 190H  Aspen real estate 110616 145724 130 Wood Road 340 5 190H Aspen real estate 110616 145724 130 Wood Road 340 6 190H  Aspen real estate 110616 145724 130 Wood Road 340 7 190H Aspen real estate 110616 145724 130 Wood Road 340 8 190H

MLS #145724 - Viceroy, 130 Wood Road 340, Snowmass Village, CO: Sold Price: $470,000/$860 sq ft; furnished. Asking Price: $499,000. (Original Price: $499,000 and 88 days on the market since 08/04/2016.) This is a 2010 built, 1 bedroom/1 bath, 546 sq ft condo. Broker comments are "Owner Resale! Enjoy amazing views of Assay Hill from the private balcony of this turn-key 1 bedroom residence conveniently located on the 3rd floor for easy access to the ski valet, Nest Restaurant and outdoor heated pool and spa. Leed Gold certified Viceroy Snowmass offers it all: sophisticated and lavishly appointed residences; ski-in/ski-out access; award-winning Wellness Spa; highly-acclaimed Eight K restaurant; together with the refined level of service that the Viceroy is known for worldwide. Property awards include Travel + Leisure Top 50 Hotels for Families, Conde Nast Traveler Gold List 2015, Conde Nast Best Resorts 2014, and Travel + Leisure World’s Best Award 2014" 2016 Taxes: $3,106; HOA Dues: $3,681 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 09/15/2016; Sold Date: 10/31/2016. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-SMV)

MLS #143014 - Aspenwood, 600 Carriage Way K-16, Snowmass Village, CO: Sold Price: $265,000/$420 sq ft; furnished. More details below photos.

Aspen real estate 110616 143014 600 Carriage Way K 16 1 590W  Aspen real estate 110616 143014 600 Carriage Way K 16 2 190H Aspen real estate 110616 143014 600 Carriage Way K 16 3 190H  Aspen real estate 110616 143014 600 Carriage Way K 16 4 285W Aspen real estate 110616 143014 600 Carriage Way K 16 5 285W

MLS #143014 - Aspenwood, 600 Carriage Way K-16, Snowmass Village, CO: Sold Price: $265,000/$420 sq ft; furnished. Asking Price: $299,000. (Original Price: $299,000 and 248 days on the market since 02/29/2016.) This is a 1967 built, 1 bath, 630 sq ft condo. Broker comments are "Absolutely happy, bright and handsome ''Studio + Loft'', top floor, corner location! Sliding separator to create privacy for sleeping area; remodeled throughout including kitchen, bath + washer/dryer. Loft has proper steps and great light, big enough for kids and sleeping." 2015 Taxes: $974; HOA Dues: $8,300 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 09/19/2016; Sold Date: 11/03/2016. (Photos and broker comments courtesy of Berkshire Hathaway HomeServices | Aspen Snowmass Properties)

 

Recent Estin Report tweets on Aspen Real Estate

EstinAspen Apr 16 - 23, 17 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Sold (9) + Pending (8) https://t.co/QyfPwre6SL
EstinAspen April 9 - 16, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (8) + Under Contract (12) https://t.co/Rih6rSDaUl
EstinAspen Apr 2 - 9, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (14) + Under Contract (6) https://t.co/Xsunmpkcdc
EstinAspen Mar 26 - Apr 2, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (13) + Under Contract (10) https://t.co/YJXwbsLZJr
EstinAspen March 19 - 26, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (10) + Under Contract (13) https://t.co/SBJOs9nSAT
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

 

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."

____________________________________________________________________________________

 

 

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

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