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 Nov 2016 YTD Aspen Snowmass Real Estate Market Snapshot was posted on 12/28 in Current Reports. The Dec 2016 YTD Snapshot will be posted in the next two days. The 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 350wX457Click 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 (12/28/16) as additional re-sale properties come on the market at significantly higher prices.

___________


Market Activity Week 52, December 25, 2016 - January 1, 2017

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 141944, 142307, 141740, 142394, 142490, 143423, 146223. This link is valid until 1/31/2017.

Under Contract/Pending (5)MLS#s 146719, 140283, 141311, 143749, 145424 This link is valid until 1/31/2017.

Aspen Snowmass Solds Last Week:  


MLS #143423 - Independence Gate Townhomes Condo, Central Core, 922 E Cooper Avenue, Aspen, CO. Sold Price: $4,125,000/$1,378 sq ft; furnished. More details below photos.
Aspen real estate 010117 143423 922 E Cooper Avenue 1 590W  Aspen real estate 010117 143423 922 E Cooper Avenue 2 590W  Aspen real estate 010117 143423 922 E Cooper Avenue 3 190H Aspen real estate 010117 143423 922 E Cooper Avenue 4 190H  Aspen real estate 010117 143423 922 E Cooper Avenue 5 190H Aspen real estate 010117 143423 922 E Cooper Avenue 6 190H
MLS #143423 - Independence Gate Townhomes Condo, Central Core, 922 E Cooper Avenue, Aspen, CO. Sold Price: $4,125,000/$1,378 sq ft; furnished. Asking Price: $4,450,000. (Original Price: $4,750,000 and _ days on the market since _.) This is a 1999 built, 4 bedroom/4 bath, 2,993 sq ft singe family residence with 2 car garage on a 6,000 sq ft lot. Broker comments are "The best value for a single family home located close to the core of town and just 4 blocks to the gondola. Even though there’s a 2-car garage, chances are one would choose to walk to the amenities in downtown Aspen. The 4 bedroom home features the master suite on the top level with a private deck and views towards Aspen Mountain, open living dining areas for entertaining and a large family room on the lower level. This attractive home is a wonderful alternative to a condo, half duplex or townhome and offers privacy and no association fees." 2015 taxes: $9,304. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 11/02/2016; Sold Date: 12/23/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Spring Street)
 
MLS #146223 - Enclave @ Aspen, Central Core, 824 E Durant Avenue, Aspen, CO. 1/2 Interest Sold Price: $3,625,000/$910 sq ft; furnished. More details below photos.
Aspen real estate 010117 146223 824 E Durant Avenue 1 590W  Aspen real estate 010117 146223 824 E Durant Avenue 2 590W  Aspen real estate 010117 146223 824 E Durant Avenue 3 190H Aspen real estate 010117 146223 824 E Durant Avenue 4 190H  Aspen real estate 010117 146223 824 E Durant Avenue 5 190H Aspen real estate 010117 146223 824 E Durant Avenue 6 190H
MLS #146223 - Enclave @ Aspen, Central Core, 824 E Durant Avenue, Aspen, CO. 1/2 Interest Sold Price: $3,625,000/$910 sq ft; furnished. Asking Price: $3,875,000. (Original Price: $7,750,000 and 45 days on the market since 09/28/2016.) This is a 1995 built, 4 bedroom/4 bath/1 half-bath, 3,980 sq ft townhouse with 2 car garage. The sale is for a 50% interest in the townhome unit. Broker comments are "Rare south facing luxurious townhome located in the central core of Aspen. Enjoy Aspen Mountain views and easy downtown conveniences. This chic and and stylish home features an open and contemporary floor plan with vaulted ceiling, fireplace, hardwood floors, gourmet kitchen with breakfast bar, dining area and dumb waiter. Two spacious master suites both with fireplaces, jetted tubs and steam showers. The garden level includes 2/3 additional bedrooms ( one with private entrance), laundry room and 2 car garage plus 2 additional off-street parking spaces. A/C and radiant heat." 2015 taxes: $16,516; HOA Dues: $4,425 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 10/21/2016; Sold Date: 11/21/2016. (Photos and broker comments courtesy of Compass)
 
MLS #142307 - 4516 Capitol Creek Road, Snowmass, CO: Sold Price: $13,410,000/$2,487 sq ft for a 1,321 acre ranch. More details below photos.
Aspen real estate 010117 142307 4516 Capitol Creek Road 1 590W  Aspen real estate 010117 142307 4516 Capitol Creek Road 2 590W  Aspen real estate 010117 142307 4516 Capitol Creek Road 3 190H Aspen real estate 010117 142307 4516 Capitol Creek Road 4 190H  Aspen real estate 010117 142307 4516 Capitol Creek Road 5 190H Aspen real estate 010117 142307 4516 Capitol Creek Road 6 190H  Aspen real estate 010117 142307 4516 Capitol Creek Road 7 190H Aspen real estate 010117 142307 4516 Capitol Creek Road 8 190H
MLS #142307 - 4516 Capitol Creek Road, Snowmass, CO: Sold Price: $13,410,000/$2,487 sq ft for a 1,321 acre ranch. Asking Price: $17,000,000. (Original Price: $17,000,000 and 347 days on the market since 01/11/2016.) This is 6 bedroom/4 bath, 5,390 sq ft farm/ranch with 2 car garage on a 1,321 acres lot. Broker comments are "The largest ranch offering in the Aspen area, Capitol Creek Ranch is a private recreational paradise with the incredible potential for up to five family homes. The property comprises 1,321 acres of spectacular terrain to explore and enjoy, as well as easy access to adjacent public lands and trails. Just minutes away is the Capitol Creek trailhead, which leads to stunning views of high mountain cirques, and the crystal clear Capitol Lake, and eventually, 14,131-foot Capitol Peak, Aspen’s world-class ski areas are a short drive, but you can make your own first tracks in the mountains, forests, and meadows closer to home. And with its miles of streams and prime wildlife habitat on the ranch and surrounding it, fish, elk and deer are plentiful, making this a sportsman’s or wildlife enthusiast." 2015 Taxes: $7,119. Under Contract Date: 11/02/2016; Sold Date: 12/23/2016. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
 
MLS #142490 - Lazy O Ranch, 1500 Lazy O Road, Snowmass, CO: Sold Price: $2,600,000/$460 sq ft; partial-furnished. More details below photos.
Aspen real estate 010117 142490 1500 Lazy O Road 1 590W  Aspen real estate 010117 142490 1500 Lazy O Road 2 590W  Aspen real estate 010117 142490 1500 Lazy O Road 3 190H Aspen real estate 010117 142490 1500 Lazy O Road 4 190H  Aspen real estate 010117 142490 1500 Lazy O Road 5 190H Aspen real estate 010117 142490 1500 Lazy O Road 6 190H  Aspen real estate 010117 142490 1500 Lazy O Road 7 190H Aspen real estate 010117 142490 1500 Lazy O Road 8 190H
MLS #142490 - Lazy O Ranch, 1500 Lazy O Road, Snowmass, CO: Sold Price: $2,600,000/$460 sq ft; partial-furnished. Asking Price: $2,500,000. (Original Price: $3,499,000 and on the market since 07/27/14.) This is 4 bedroom/4 bath/2 half-bath, 5,645 sq ft single family residence with 3 car garage on a 5.7 acres lot. Broker comments are "The Romance of our Western Heritage meets quality and sophisticated living. This mountain contemporary style home exudes extraordinary details throughout. Situated on Lazy O. Lazy O Ranch offers a fully-managed ranch experience. With a full-time ranch manager on premise you can enjoy all that ranch living has to offer without the hassle - whether you are an avid equestrian or just like to see horses grazing in the field, this is the perfect balance of ranch and home! Move right in to this tastefully furnished home on over 5 acres which offers stunning views of Mt Sopris, total privacy, full service property management and easy access to Whole Foods in Basalt (15 mins), Aspen (22 mins). Enter an impressive flagstone foyer with chandeliers highlighting the inlaid wood vaulted ceiling." 2015 Taxes: $15,939; HOA Dues: 16,000 per Qtr. Under Contract Date: 12/14/2016; Sold Date: 12/30/2016. (Photos and broker comments courtesy of ENGEL & VÖLKERS)
 
MLS #141944 - Owl Creek Townhomes, 204 Burnt Mountain Drive, Snowmass Village, CO: Sold Price: $3,300,000/$908 sq ft; furnished. More details below photos.
Aspen real estate 010117 141944 204 Burnt Mountain Drive 1 590W  Aspen real estate 010117 141944 204 Burnt Mountain Drive 2 590W  Aspen real estate 010117 141944 204 Burnt Mountain Drive 3 190H Aspen real estate 010117 141944 204 Burnt Mountain Drive 4 190H  Aspen real estate 010117 141944 204 Burnt Mountain Drive 5 190H Aspen real estate 010117 141944 204 Burnt Mountain Drive 6 190H
MLS #141944 - Owl Creek Townhomes, 204 Burnt Mountain Drive, Snowmass Village, CO: Sold Price: $3,300,000/$908 sq ft; furnished. Asking Price: $3,495,000. (Original Price: $3,795,000 and 1,080 days on the market since 01/03/2014.) This is a 1997 built, 4 bedroom/5 bath, 3,634 sq ft townhouse with 2 car garage. Broker comments are "One of the most luxurious slope-side addresses and locations in all of Snowmass. High quality craftsmanship and the attention to detail of a fine custom home. Located in the first phase on the ski-slope side of the street, ski directly to and from your door to uncrowded Two Creeks. No need for any of the additional surface lifts here! It doesn't get any easier. Southern exposure with spectacular, unobstructed views spanning from Long Shot to the Big Burn. Bedroom suites with gracious baths and attached private decks. Large patio with your own private hot-tub. The kids will enjoy the adjoining lawn area during the summer months. Private driveway. Well managed with trouble-free ownership provisions." 2015 Taxes: $11,555; HOA Dues: $23,210 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 11/21/2016; Sold Date: 12/30/2016. (Photos and broker comments courtesy of BERKSHIRE HATHAWAY HomeServices | Aspen Snowmass Properties)
 
MLS #142394 - Snowmass Mountain, 55 Upper Woodbridge Road E-1, Snowmass Village, CO: Sold Price: $560,000/$577 sq ft; furnished. More details below photos.
Aspen real estate 010117 142394 55 Upper Woodbridge Road E 1 1 590W  Aspen real estate 010117 142394 55 Upper Woodbridge Road E 1 2 590W  Aspen real estate 010117 142394 55 Upper Woodbridge Road E 1 3 190H Aspen real estate 010117 142394 55 Upper Woodbridge Road E 1 4 190H  Aspen real estate 010117 142394 55 Upper Woodbridge Road E 1 5 190H Aspen real estate 010117 142394 55 Upper Woodbridge Road E 1 6 190H
MLS #142394 - Snowmass Mountain, 55 Upper Woodbridge Road E-1, Snowmass Village, CO: Sold Price: $560,000/$577 sq ft; furnished. Asking Price: $595,000. (Original Price: $610,000 and 350 days on the market since 01/13/2016.) This is a 1973 built and 2013 remodeled, 2 bedroom/2 bath, 970 sq ft condo. Broker comments are "This 2 bedroom, 2 bath condo is turn-key and completely Renovated with unobstructed views looking across Snowmass. Upgraded finishes throughout, including flooring, washer/dryer, bathrooms, gas fireplace, furnishings, appliances and much more. Easy access to the Snowmass Village Shuttle, Private Storage with enhanced built-ins for organization, only steps away to the hot tub and pool." 2014 Taxes: $1,476; HOA Dues: $2,083 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 11/19/2016; Sold Date: 12/28/2016. (Photos and broker comments courtesy of Alpine Real Estate, Inc)
 
MLS #141740 - Crestwood, 400 Wood Road 2206, Snowmass Village, CO: Sold Price: $390,000/$386 sq ft; furnished. More details below photos.
Aspen real estate 010117 141740 400 Wood Road 2206 1 590W  Aspen real estate 010117 141740 400 Wood Road 2206 2 590W  Aspen real estate 010117 141740 400 Wood Road 2206 3 190H Aspen real estate 010117 141740 400 Wood Road 2206 4 190H  Aspen real estate 010117 141740 400 Wood Road 2206 5 190H Aspen real estate 010117 141740 400 Wood Road 2206 6 190H
MLS #141740 - Crestwood, 400 Wood Road 2206, Snowmass Village, CO: Sold Price: $390,000/$386 sq ft; furnished. Asking Price: $413,000. (Original Price: $495,000 and 871 days on the market since 01/21/2014.) This is a 1970 built and 2010 remodeled, 2 bedroom/2 bath, 1,008 sq ft condo. Broker comments are "Best value at the Crestwood and possibly all of Snowmass! The owner had great taste with the remodel and even added a washer and dryer, one of only a few units at the Crestwood with its own W&D. The open floor-plan allows fun-filled conversation after an adventurous day on the mountain. You'll also appreciate the built-in business center to house your computer and business materials. Located across from Fanny Hill and next to the heated swimming pool and two hot-tubs, your toes barely have time to get cold in between. Walk to Base Village Plaza or Snowmass Mall. Impeccably managed in a convenient location and with a plethora of on-site amenities and services makes the Crestwood a popular Snowmass accommodation hot-spot. New fireplace added!" 2015 Taxes: $1,796; HOA Dues: $20,040 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 11/16/2016; Sold Date: 12/20/2016. (Photos and broker comments courtesy of BERKSHIRE HATHAWAY HomeServices | Aspen Snowmass Properties)
 

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 2017 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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