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 reports the 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 Mountain Standard Time 
(MST)

 

Feb 2017
Low-Down

Heading into peak
season: Feb-Apr.
Sales activity rising
significantly...
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 =
> demand
> premium prices;
2) Everything else =
 > days on market
< demand 
> negotiable
> discounts.

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 sellers.

 

 

(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 Nov 2016 YTD Aspen Snowmass Real Estate Market Snapshot was posted on 12/28 in Current ReportsThe Monthly Snapshots are usually posted on or near the 1st Monday of the month. My year end 2016 report will be released 1st or 2nd week of Jan 2017.

Nov 2016 Market Snapshot excerpt:

"Nov '16 has been less 'bad' than Oct or Sep. The uncertainty of the election has passed, the "Trump Trade" has pushed the stock market to record highs and the financial markets are bullish. Historically, these are good omens for Aspen real estate.

 

For the past two years, the Aspen residential market is being driven by speculative activity in the form of a small handful of REIT type investment groups. In particular, these groups dominated buyer activity in 2015 and new-built home listings in 2016. There are approximately 20-25 brand new spec homes in various stages of construction with some having sold or are under contract validating never-seen-before new pricing levels in specifically the Aspen Core, Historic West End and newer homes on Red Mountain.."

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) on July 20th. 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 51, December 18 - 25, 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 134826, 136663, 138831, 139319, 139671, 143116, 146946. This link is valid until 1/24/2017.

Under Contract/Pending (9)MLS#s 141210, 136663, 139671, 124260, 141583, 143256, 145072, 145700, 146659 This link is valid until 1/24/2017.

 

Aspen Snowmass Solds Last Week:  


MLS #139319 - Fivetrees, West Aspen, 15 Shavano Drive, Aspen, CO. Sold Price: $10,800,000/$1,194 sq ft; furnished. More details below photos.
Aspen real estate 122516 139319 15 Shavano Drive 1 590W  Aspen real estate 122516 139319 15 Shavano Drive 2 590W  Aspen real estate 122516 139319 15 Shavano Drive 3 190H Aspen real estate 122516 139319 15 Shavano Drive 4 190H  Aspen real estate 122516 139319 15 Shavano Drive 5 190H Aspen real estate 122516 139319 15 Shavano Drive 6 190H  Aspen real estate 122516 139319 15 Shavano Drive 7 190H Aspen real estate 122516 139319 15 Shavano Drive 8 190H
MLS #139319 - Fivetrees, West Aspen, 15 Shavano Drive, Aspen, CO. Sold Price: $10,800,000/$1,194 sq ft; furnished. Asking Price: $12,950,000. (Original Price: $15,350,000 and 570 days on the market since 06/01/2015.) This is a 2005 built and 2009 remodeled, 6 bedroom/3 bath/1 half-bath/3 3/4-bath, 9,039 sq ft singe family residence with 3 car garage on a 1.65 acres lot. Broker comments are "Experience privacy and convenience in this luxury Five Trees ski-in/ski-out estate quality home. With inviting views of Thunderbowl this furnished property features a fabulous chef’s kitchen, six bedrooms plus an office and library, a fully-equipped gym and extensive entertaining spaces all accented with handcrafted details and finishes. Includes Central Vac. Located on over an acre and a half and beautifully landscaped in one of Aspen’s true ski-in/ski-out neighborhoods with adjoining dedicated private ski lift and trails. This warm and engaging residence is the perfect gathering place for family and friends. Walking distance to the Aspen school campus, the Aspen Recreation Center and the community theatre, and just a five minute drive to the airport, Maroon Creek Club and downtown Aspen." 2015 taxes: $28,946; HOA Dues: $216 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 12/01/2016; Sold Date: 12/22/2016. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
 
MLS #138831 - Townsite of Aspen, West End, 520 N Eighth Street, Aspen, CO. Sold Price: $4,000,000/$934 sq ft; unfurnished. More details below photos.
Aspen real estate 122516 138831 520 N Eighth Street 1 590W  Aspen real estate 122516 138831 520 N Eighth Street 2 590W  Aspen real estate 122516 138831 520 N Eighth Street 3 190H Aspen real estate 122516 138831 520 N Eighth Street 4 190H  Aspen real estate 122516 138831 520 N Eighth Street 5 190H Aspen real estate 122516 138831 520 N Eighth Street 6 190H
MLS #138831 - Townsite of Aspen, West End, 520 N Eighth Street, Aspen, CO. Sold Price: $4,000,000/$934 sq ft; unfurnished. Asking Price: $4,250,000. (Original Price: $4,250,000 and 549 days on the market since 04/30/2015.) This is a 1971 built and 1985 remodeled, 4 bedroom/2 bath/3 3/4-bath, 4,280 sq ft singe family residence with 2 car garage on a 13,215 sq ft lot. Broker comments are "This contemporary West End home is a short walk away from the Music Tent and the Aspen Meadows. The oversized 13,215 sq.ft. lot offers a park-like setting with a private outdoor patio area, seasonal stream and mature trees. The indoor pool area has a second kitchen which is ideal for entertaining. Enjoy the charm of this existing 4-bedroom, 5-bath home that features a large open floor plan for the living, dining, and kitchen areas with high ceilings, gas fireplace and unique indoor pool. This special West End gem is located in a quiet neighborhood and is being offered unfurnished. There is also the opportunity for a redevelopment project or simply a remodel update to suit your needs." 2015 taxes: $10,252. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 11/06/2016; Sold Date: 12/21/2016. (Photos and broker comments courtesy of Setterfield & Bright)
 
MLS #143116 - West Aspen, 1095 Cemetery, Aspen, CO. Sold Price: $2,950,000/$886 sq ft; furnished. More details below photos.
Aspen real estate 122516 134826 1095 Cemetery 1 590W  Aspen real estate 122516 134826 1095 Cemetery 2 590W  Aspen real estate 122516 134826 1095 Cemetery 3 190H Aspen real estate 122516 134826 1095 Cemetery 4 190H  Aspen real estate 122516 134826 1095 Cemetery 5 190H Aspen real estate 122516 134826 1095 Cemetery 6 190H
MLS #143116 - West Aspen, 1095 Cemetery, Aspen, CO. Sold Price: $2,950,000/$886 sq ft; furnished. Asking Price: $3,195,000. (Original Price: $3,300,000 and 642 days on the market since 03/20/2015.) This is a 2006 built, 4 bedroom/4 bath/1 half-bath, 3,328 sq ft duplex/half duplex with 1 car garage. Broker comments are "is elegantly finished, three-level half-duplex redefines sophisticated mountain living. The 4 bedroom, 4.5 bath, 3328 square foot home pampers its owners from the moment they cross the threshold creating an environment you will happily call it home. The traditional, yet modern mountain interior is inviting, warm and luxurious with gorgeous stone-work, wood floors, etched glass, marble and granite countertops, 3 gas fireplaces and luxurious finishes throughout. The chef’s kitchen leaves nothing for the heart to desire. It opens into the formal dining space that is warmed by a two-sided gas fireplace and an inviting living room. Located on Cemetery Lane, the home is steps from the bike path that connect to the Rio Grande Trail and less than a five-minute walk to the Roaring Fork River. The front patio and deck off of the master bedroom boast views of the Hunter Creek Valley and beyond. Moving in is made simple for the property is offered turnkey. Special Features Include: Views of Hunter Creek Valley, Radiant Heat throughout, Chef's kitchen, Marble and granite countertops, Central AC, Home water filtration system, Laundry in the Master Closet and Laundry Room, 5 minute walk to Roaring Fork River and Rio Grande Trail, 3 gas fireplaces, Jacuzzi Tubs, In-home sound system, 1-car garage + parking space, Snow melted driveway and deck" 2015 taxes: $6,834; HOA Dues: $3,750 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 11/16/2016; Sold Date: 12/23/2016. (Photos and broker comments courtesy of Douglas Elliman Real Estate-Durant)
 
MLS #139671 - West Buttermilk, West Aspen, 41 Aspen Oak Drive, Aspen, CO. Sold Price: $2,700,000/$1,193 sq ft; unfurnished. More details below photos.
Aspen real estate 122516 139671 41 Aspen Oak Drive 1 590W  Aspen real estate 122516 139671 41 Aspen Oak Drive 2 590W  Aspen real estate 122516 139671 41 Aspen Oak Drive 3 190H Aspen real estate 122516 139671 41 Aspen Oak Drive 4 190H  Aspen real estate 122516 139671 41 Aspen Oak Drive 5 190H Aspen real estate 122516 139671 41 Aspen Oak Drive 6 190H
MLS #139671 - West Buttermilk, West Aspen, 41 Aspen Oak Drive, Aspen, CO. Sold Price: $2,700,000/$1,193 sq ft; unfurnished. Asking Price: $2,950,000. (Original Price: $3,795,000 and _ days on the market since _.) This is a 1974 built and 2010 remodeled, 3 bedroom/2 bath, 2,262 sq ft single family residence with 1 car garage on a 5.35 acres lot. Broker comments are "The Aspen Oak Ranch on West Buttermilk is a true ''escape from it all property'', so close to the heartbeat of Aspen that you can feel it pulsing throughout the special energy this five acre property encompasses. The property has seemingly endless potential and is just waiting for you to dream (5,750 sq ft is currently allowed and purchase TDRs in increments of 2,500 sq ft to build up to 15,000 sq ft). There are multiple building sites for you to make your mark, perhaps a contemporary estate, artist's studio and/or barn? This unique opportunity also allows you to relish the classic mountain lifestyle today with the perfect existing home that has all the charm one could desire, including panoramic views of Aspen Mountain, Hunter Creek and Owl Creek. Laze on the decks, patios and a lawn with all day sun. Enjoy this unique retreat as it is or explore the many possibilities to carve your own future! Charles Kennedy, known for his terrific eye, iconic attention to detail and sense of the sought after Aspen outdoor living, has owned and lived here since 2005. He has made this home and surrounding landscape very very special! Additionally Charles has sensational ideas on how this 5.5 acres can be developed to accommodate various wants and needs both using, and not using the existing home. He is available to work with you on a seamless execution of the vision that fits your lifestyle and investment portfolio." 2015 taxes: $7,167. Under Contract Date: 09/09/2016; Sold Date: 12/20/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Hyman Mall)
 
MLS #134826 - Hidden Meadows, 153 Whisperwind Way, Snowmass, CO: Sold Price: $3,675,000/$637 sq ft; furnished. More details below photos.
Aspen real estate 122516 134826 153 Whisperwind Way 1 590W  Aspen real estate 122516 134826 153 Whisperwind Way 2 590W  Aspen real estate 122516 134826 153 Whisperwind Way 3 190H Aspen real estate 122516 134826 153 Whisperwind Way 4 190H  Aspen real estate 122516 134826 153 Whisperwind Way 5 190H Aspen real estate 122516 134826 153 Whisperwind Way 6 190H
MLS #134826 - Hidden Meadows, 153 Whisperwind Way, Snowmass, CO: Sold Price: $3,675,000/$637 sq ft; furnished. Asking Price: $3,980,000. (Original Price: $4,895,000 and 698 days on the market since 05/28/2014.) This is a 1981 built and 2005 remodeled, 4 bedroom/4 bath/2 half-bath, 5,767 sq ft singe family residence with 2 car garage on a 5,767 sq ft lot. Broker comments are "Perfectly secluded, yet easily accessible Old Snowmass estate with hundreds of feet of river frontage located only 2.4 miles from Watson Divide Road. Home is in exquisite condition with fine craftsmanship and attention to detail. Completely separate guest house. Enjoy all the sights and sounds of Snowmass Creek with over 2,500 sq ft of outdoor decks, entertaining spaces, ponds, private fishing, and abundant lawns. Come see why Hidden Meadows strikes the perfect balance of quiet seclusion, mountain nature, and easy access to Aspen and the entire Roaring Fork Valley." 2015 Taxes: $23,196; HOA Dues: $5,107 per Yr. Under Contract Date: 11/07/2016; Sold Date: 12/22/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Hyman Mall)
 
MLS #136663 - Sinclair Meadows, 254 Gambel Way (Lot 5), Snowmass Village, CO: Sold Price: $3,400,000/$823 sq ft; furnished. More details below photos.
Aspen real estate 122516 136663 254 Gambel Way Lot 5 1 590W  Aspen real estate 122516 136663 254 Gambel Way Lot 5 2 590W  Aspen real estate 122516 136663 254 Gambel Way Lot 5 3 190H Aspen real estate 122516 136663 254 Gambel Way Lot 5 4 190H  Aspen real estate 122516 136663 254 Gambel Way Lot 5 5 190H Aspen real estate 122516 136663 254 Gambel Way Lot 5 6 190H
MLS #136663 - Sinclair Meadows, 254 Gambel Way (Lot 5), Snowmass Village, CO: Sold Price: $3,400,000/$823 sq ft; furnished. Asking Price: $3,750,000. (Original Price: $3,950,000 and 2,401 days on the market since 04/21/2008.) This is a 2014 built, 5 bedroom/5 bath/1 half-bath, 4,130 sq ft singe family residence with 3 car garage on a 24,924 sq ft lot. Broker comments are "This stunning Sinclair Meadows home is located in the heart of Snowmass Village. Absolutely brand new and magnificently designed, this home offers five bedrooms, five and ½ bathrooms, office, plus family room. Enjoy the fabulous indoor/outdoor dining and living rooms, 2-master suites and views of the Mt. Daly and Wildcat Ridge. With a fresh, mountain-classic style, this home features the finest natural wood and stone, high-end appliances and custom cabinetry. An attached 3-car garage plus built-in storage spaces and mud room allow for ample space to store all of your recreational gear. Just 1 minute to Two Creeks Ski Area and the renowned Snowmass Golf and Athletic Club." 2015 Taxes: $7,620; HOA Dues: $2,700 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 11/11/2016; Sold Date: 12/19/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Snowmass Village)
 
MLS #146946 - Enclave, 360 Wood Road 211, Snowmass Village, CO: Sold Price: $750,000/$689 sq ft; furnished. More details below photos.
Aspen real estate 122516 146946 360 Wood Road 211 1 590W
MLS #146946 - Enclave, 360 Wood Road 211, Snowmass Village, CO: Sold Price: $750,000/$689 sq ft; furnished. Asking Price: $799,000. (Original Price: $799,000 and 17 days on the market since 12/06/2016.) This is a 1997 built and 2014 remodeled, 2 bedroom/2 bath, 1,088 sq ft condo. Broker comments are "Remodeled second floor condominium on the southwest side of the building offering morning and afternoon sun, views of Elk Camp and the gondola." 2015 Taxes: $3,160; HOA Dues: $21,521 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 12/09/2016; Sold Date: 12/23/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Snowmass Village)
 

Recent Estin Report tweets on Aspen Real Estate

 

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
EstinAspen Feb 5 - 12, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (5) + Under Contract (16) https://t.co/TCqfzE7mYk
EstinAspen Jan 22 - 29, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (4) + Under Contract (11) https://t.co/evcTYOvjlt
EstinAspen Jan 15 - 22, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (5) + Under Contract (10) https://t.co/pRxb7V5Nfd
EstinAspen Jan 8 -15, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (12) + Under Contract (8) https://t.co/HvqQYCTiui
EstinAspen Jan 1 - 8, 2017 #EstinReport: Last Week's #AspenRealEstate Sales & Stats: Closed (5) + Under Contract (10) https://t.co/Pz76BjG1po

 

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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