Aspen Real Estate Market  Last Week’s Sales: Jun 13 – 20, 21 – Week 25

Closed (13) + Under Contract / Pending (14).  [To view the new blog post, you may have to “Clear your Browser Settings”.  Go to: Chrome browser/more tools/clear browsing data.] (Photos above of 421 Willoughby Way courtesy of Douglas Elliman Real Estate).

Bottom Line June 20, 21: Early Summer Summary

The May 2021 Aspen Real Estate market report compares year over year (YOY) sales performance of the past four years as a year ago activity slowed to almost a standstill in the Covid 19 shutdown.

Comparing May 2021 to the same period in 2019 and 2018 (and not to just a year ago with a baseline at almost zero) confirms the huge spike upwards since pre-Covid of units sales, dollar sales, and rising prices and the downward path of inventory levels of properties for sale.

Demand up; supply down.

Remarkably, there have been (4) Aspen neighborhoods where the average sale price per sq ft in the past 6 months has been above $2,000:  these are single family homes in East Aspen, Red Mountain, West End and Downtown Aspen condos/townhomes. Even crazier, of the (5) downtown single family home sales in the past 6 months, the avg sold price per sq ft was $3,100 sq ft. (See pg 7).

Sales in general continue to be robust and inventory of properties for sale is at its lowest level of the past 10 years in both Aspen and Snowmass Village. If a property isn’t moving in the current environment, there’s either a very property specific issue or it is its pricing, and a buyer opportunity may present itself as the weary seller capitulates.

         

The Estin Report 2021 ws Aspen Snowmass Real Estate Market was released Jan 8, 21 in Current Reports. It can be read online or downloaded as PDF.  A 32-Pg print edition is available outside Sotheby’s 415 E Hyman on the Hyman Mall, Sotheby’s 300 S Spring St (my office across from the Aspen Art Museum), at the Aspen Chamber Information Kiosk across from Paradise Bakery and the Pitkin County (ASE) airport.  If you have difficulty downloading the report PDF, please contact me directly and I’d be happy to send it.

Blog Post: June 13 – 20, 2021 Aspen CO real estate market activity, Week 25

Closed (13): MLS#s: 170607, 160664, 161947, 165315, 167496, 167519, 167835, 168634, 169589, 170318, 170490, 170514, 170563.  This link is valid until 7/20/2021.

Under Contract/Pending (14): MLS#s: 137192, 162267, 162268, 162269, 163063, 164739, 165350, 165777, 169058, 170187, 170273, 170390, 170392, 170456.  This link is valid until 7/20/2021.

Sold Properties Last Week:

MLS #170514 – Red Mountain, 421 Willoughby Way, Aspen, CO; Sold Price: $72,500,000/$3,235 sq ft. Sold Date: 06/15/2021. More details below photos.

MLS #170514 – Red Mountain, 421 Willoughby Way, Aspen, CO; Sold Price: $72,500,000/$3,235 sq ft. Sold Date: 06/15/2021. Aspen homes for sale. Ask Price: $72,500,000. (Sold off market and under contract on 04/12/2021.) This is a 11 bedroom/13 bath/4 half-bath, 22,405 sq ft single family home with 4+ car garage on a 4.51 fairly flat acre lot. Tim’s notes: This is an Aspen and Pitkin County record real estate sale price surpassing the prior record of $46M for a 500 acre estate in Owl Creek half-way between Aspen and Snowmass Village. The buyer is Patrick Dovigi, a former professional hockey player from Canada who is now founder and CEO of Green for Life Environmental, a Canadian based North American waste management company worth an estimated $6.1 billion. In the past 6 months, Dovigi has been busy in Aspen – he purchased 288 Willoughby Way (MLS 165717) for $29.95M on 12/16/20, then sold that property (MLS 169833) at $31M on 5/5/21, meanwhile placing 421 Willoughby under contract on 4/12/21 at $71.5M and closing last week on 6/15/21 (MLS 170514). The seller is Lewis A. Sanders, founder and CEO of Sanders Capital, a New York investment firm. According to a 6/15/21 Aspen Time article on the deal, ““We are very blessed and fortunate to be able to buy such a beautiful home,” Dovigi said Tuesday. “Having five children, we were looking for a property that had a lot of great table-land for our kids to play but at the same time being in close proximity to town and all of the wonderful things Aspen has to offer…There have been just five transactions above $40 million in Pitkin County since 1990, per MLS records. In 2006, a 949-acre ranch outside of Carbondale sold for $47 million, which remained the most expensive transaction in Pitkin County until Tuesday. The ranch included a 12,000-square-foot home and development rights to four additional homesites. In 2013, a 19,500-square-foot house in Wildcat Ranch sold for $44 million.” Broker comments are “This exceptional estate property is located on the exclusive Willoughby Way – Aspen’s ”Billionaire’s Row”. Designed by Charles Cunniffe Architects and built by Hansen Construction, this home is comprised of a main house and guest house totaling 11 bedrooms, 17 bathrooms that span over 22,405 sf. Perched high on a unique 4.5 acre lot, this property enjoys a private pond, pool and sweeping views from Independence Pass to Mt Sopris, all while still enjoying a short walk or bike ride to all that Downtown Aspen has to offer.” 2020 taxes: $136,447. Under Contract Date: 04/12/2021; Sold Date: 06/15/2021. (Photos and broker comments courtesy of Douglas Elliman Real Estate-Durant)

MLS #161947 – Red Mountain, 41 Salvation Circle, Aspen, CO; Sold Price: $11,500,000/$1,970 sq ft; furnished. Sold Date: 06/17/2021. More details below photos.

MLS #161947 – Red Mountain, 41 Salvation Circle, Aspen, CO; Sold Price: $11,500,000/$1,970 sq ft; furnished. Sold Date: 06/17/2021. Aspen homes for sale. Ask Price: $12,495,000. (Original Price: $12,995,000 and 479 days on the market since 11/01/2019.) This is a 1972 built and 2016 remodeled, 5 bedroom/4 bath/1 half-bath, 5,837 sq ft single family home with 2 car garage on a 30,821 sq ft lot. Broker comments are “This beautiful, lower Red Mountain 5 bedroom, 4 1/2 bath, and 5,800 square foot home offers unobstructed views from Independence Pass to Buttermilk. Tastefully remodeled in 2016, the home incorporates contemporary finishes throughout. Grand inside and outside living spaces with spectacular views, a heated pool and spa, and expansive deck overlooking Aspen.” 2018 taxes: $14,095. Under Contract Date: 02/04/2021; Sold Date: 06/17/2021. (Photos and broker comments courtesy of Compass Aspen)

MLS #170490 – West Meadow, 1340 Mountain View Drive, Aspen, CO; Teardown/Vacant lot for Sale, Sold Price: $4,550,000/$1,540 sq ft; unfurnished. Sold Date: 05/10/2021. More details below photo.

MLS #170490 – West Meadow, 1340 Mountain View Drive, Aspen, CO; Teardown/Vacant lot for Sale, Sold Price: $4,550,000/$1,540 sq ft; unfurnished. Sold Date: 05/10/2021. Aspen homes for sale. Ask Price: $4,550,000. (Original Price: $4,550,000 and under contract on 03/10/2021.) This is a 1963 built, 5 bedroom/4 bath, 2,954 sq ft single family home with 2 car garage on a 17,238 sq ft lot. Broker comments are “Sold before MLS.” 2021 taxes: $8,597. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/10/2021; Sold Date: 05/10/2021. (Photos and broker comments courtesy of Romero Group Realty, LLC)

MLS #170563 – Eastwood, East Aspen, 191 Eastwood Drive, Aspen, CO; Teardown/Vacant lot for Sale, Sold Price: $4,350,000/$1,648 sq ft. Sold Date: 06/15/2021. More details below photo.

MLS #170563 – Eastwood, East Aspen, 191 Eastwood Drive, Aspen, CO; Teardown/Vacant lot for Sale, Sold Price: $4,350,000/$1,648 sq ft. Sold Date: 06/15/2021. Aspen homes for sale. Ask Price: $4,350,000. (Original Price: $4,350,000 and 102 days on the market since 03/05/2021.) This is a 1974 built and 1997 remodeled, 3 bedroom/3 bath, 2,639 sq ft single family home with 1 car garage on a 18,551 sq ft lot. Broker comments are “This 2639 square foot single family home has 3 bedrooms and 3.0 bathrooms. This home is located at 191 Eastwood Dr, Aspen, CO 81611.” 2020 taxes: $6,133. Under Contract Date: 03/05/2021; Sold Date: 06/15/2021. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #167496 – Starwood, McLain Flats, 623 Johnson Drive, Aspen, CO; Teardown/Vacant lot for Sale, Sold Price: $3,930,000/$946 sq ft; furnished. Sold Date: 06/14/2021. More details below photos.

MLS #167496 – Starwood, McLain Flats, 623 Johnson Drive, Aspen, CO; Teardown/Vacant lot for Sale, Sold Price: $3,930,000/$946 sq ft; furnished. Sold Date: 06/14/2021. Aspen homes for sale. Ask Price: $4,200,000. (Original Price: $4,995,000 and 220 days on the market since 11/06/2020.) This is a 1968 built and 2000 remodeled, 5 bedroom/4 bath/1 half-bath, 4,150 sq ft single family home with 2 car garage on a 3.68 acres lot. Broker comments are “Never been on the market before. This home is owned by one of the first homeowners in the Starwood subdivision. Only 7 mins from Aspen, tugged away among trees and shrubs in the back corner of Johnson Drive; your neighbors are far away in the distance and hidden behind the natural landscape, lies this legacy property. This 4,150 square foot home has 5 bedrooms, 4 baths and a half baths with additional FAR to expand. There is a master wing giving a bit of separation to conduct business while the main house allows for all the family members and friends to be under one roof. Whether sitting on the front deck off the living room viewing the expanded peaks of Maroon Bells to Mountain Daly, or dinning in the back wrap around deck looking out on the open space underneath the stars, this flat 3.68 acre property has all the elements to make anyone’s ultimate sanctuary. The prestigious Starwood neighborhood is home to many well-recognized figures; this is an opportunity to live on the same street that John Denver chose to live his Rocky Mountain dream.” 2019 taxes: $12,440; HOA Dues: $400. Under Contract Date: 04/16/2021; Sold Date: 06/14/2021. (Photos and broker comments courtesy of Compass Aspen)

MLS #165315 – Starwood, McLain Flats, 277 Danielson Drive, Aspen, CO; Vacant Lot for Sale, Sold Price: $3,885,000. Sold Date: 06/16/2021. More details below photos.

MLS #165315 – Starwood, McLain Flats, 277 Danielson Drive, Aspen, CO; Vacant Lot for Sale, Sold Price: $3,885,000. Sold Date: 06/16/2021. Aspen lots for sale. Ask Price: $3,885,000. (Original Price: $4,150,000 and 326 days on the market since 07/08/2020.) This is a 2.49 acres single family vacant lot. Broker comments are “This is one of the best lots in Starwood or all of West Aspen, with bombing mountain views and incredible privacy, located at the end of the cul-de-sac on Danielson Drive. Enjoy panoramic views of Aspen Mountain, Aspen Highlands, Buttermilk, Mount Daly & Capitol Peak. Build a home of up to 5,750 square feet, or up to 15,000 square feet with the purchase of TDR’s (to be verified by Buyer).” 2020 taxes: $9,018; HOA Dues: $120. Under Contract Date: 04/02/2021; Sold Date: 06/16/2021. (Photos and broker comments courtesy of Douglas Elliman Real Estate-Hyman Ave)

MLS #170318 – Castle Creek, West Aspen, 707 Castle Creek Drive 2, Aspen, CO; Sold Price: $3,686,147/$1,799 sq ft; furnished. Sold Date: 06/18/2021. More details below photos.

MLS #170318 – Castle Creek, West Aspen, 707 Castle Creek Drive 2, Aspen, CO; Sold Price: $3,686,147/$1,799 sq ft; furnished. Sold Date: 06/18/2021. Aspen duplex/half duplex for sale. Ask Price: $3,800,000. (Original Price: $3,800,000 and 51 days on the market since 04/28/2021.) This is a 1995 built and 2004 remodeled, 3 bedroom/2 bath/1 half-bath, 2,048 sq ft duplex/half duplex with 1 car garage on a 16,326 sq ft lot. Broker comments are “Needs new roof. Sold before MLS. Contemporary half duplex with detached finished garage and office. Cement floors, floor to ceiling windows, high ceilings, great lighting and finishes, luxurious Master bath, all encircled by mature trees and landscaping. Ditch runs thru the yard in the summer which just adds to the charm of this 3 bedroom 2.5 bath home.” 2021 taxes: $5,546. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 05/11/2021; Sold Date: 06/18/2021. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #167835 – Independence Square, Condominium, Central Core, 404 S Galena Street 207, Aspen, CO; Sold Price: $565,000/$1,883 sq ft; furnished. Sold Date: 06/15/2021. More details below photos.

MLS #167835 – Independence Square, Condominium, Central Core, 404 S Galena Street 207, Aspen, CO; Sold Price: $565,000/$1,883 sq ft; furnished. Sold Date: 06/15/2021. Aspen condos for sale. Ask Price: $579,000. (Original Price: $599,000 and 174 days on the market since 12/11/2020.) This is a 1889 built and 2017 remodeled, studio/1 bath, 300 sq ft condo. Broker comments are “Fantastic opportunity to own a beautifully renovated studio condo in the Historic Independence Square Hotel. Located in the middle of downtown Aspen, this property is walking distance to everything Aspen has to offer – skiing, dining, shopping, hiking, etc! The Indy Square is a sought after vacation destination for renters and owners due to the ease of ownership. Owners have the option to live in the unit full time &/or join the rental program managed by Frias Properties. Extras include a breakfast buffet, ski storage lockers, a staffed front desk, common lounge areas plus an amazing roof top deck overlooking Aspen Mtn with a hot tub and fire pit. This condo has an excellent rental history and is sold turnkey. If you need more space, purchase together with unit #208-209 (MLS# 167183).” 2020 taxes: $1,150; HOA Dues: $14,202. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 04/02/2021; Sold Date: 06/15/2021. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)

MLS #170607 – Divide, 227 Pinon Drive, Snowmass Village, CO; Sold Price: $12,500,000/$2,022 sq ft. Sold Date: 06/14/2021. More details below photos.

MLS #170607 – Divide, 227 Pinon Drive, Snowmass Village, CO; Sold Price: $12,500,000/$2,022 sq ft. Sold Date: 06/14/2021. Snowmass Village homes for sale. Ask Price: $12,750,000. (Original Price: $12,750,000 and 49 days on the market since 04/26/2021.) Tim’s notes: This is the highest priced single family home sale in Snowmass Village in the past 10 years. This is a 1995 built and 2012 remodeled, 6 bedroom/7 bath/2 half-bath, 6,180 sq ft single family home with 2 car garage on a 1.1 acres lot. Broker comments are “Sold before MLS.” 2020 taxes: $27,273; HOA Dues: $6,159. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 04/29/2021; Sold Date: 06/14/2021. (Photos courtesy of Aspen Core Realty and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #160664 – Horse Ranch, 875 Horse Ranch Drive, Snowmass Village, CO; Sold Price: $3,750,000/$1,077 sq ft; furnished. Sold Date: 06/14/2021. More details below photos.

MLS #160664 – Horse Ranch, 875 Horse Ranch Drive, Snowmass Village, CO; Sold Price: $3,750,000/$1,077 sq ft; furnished. Sold Date: 06/14/2021. Snowmass Village homes for sale. Ask Price: $3,995,000. (Original Price: $3,995,000 and 556 days on the market since 07/23/2019.) This is a 2002 built, 4 bedroom/4 bath/1 half-bath, 3,479 sq ft single family home with 2 car garage on a 28,753 sq ft lot. Broker comments are “Enjoy big Snowmass Ski Area views and sunshine all day from this south facing 4 Bedroom David Johnston design in desirable Horse Ranch. This clean mountain style residence is highlighted by vaulted ceilings in the living, dining and kitchen & 2 master suites on its main level that capture views of the surrounding peaks. On the lower level both en-suite bedrooms and a second family room are above grade and walk-out to patios and nice outdoor space. The Rim Trail runs along the edge of Horse Ranch and provides an activity portal to a limitless hiking/biking trail system that even links Snowmass to Aspen. The Snowmass Recreation Center and Snowmass Club with its world class golf and fitness are only minutes away & a free shuttle stop is just down the street providing frequent easy access to skiing, shopping, dining & all the new mountain amenities and family fun in the Snowmass Base Village.” 2018 taxes: $10,799; HOA Dues: $305. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 04/28/2021; Sold Date: 06/14/2021. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #167519 – Base Village/One Snowmass East, Condominium, 77 Wood Road 603 East, Snowmass Village, CO; Sold Price: $3,500,000/$1,803 sq ft; unfurnished. Sold Date: 06/15/2021. More details below photos.

MLS #167519 – Base Village/One Snowmass East, Condominium, 77 Wood Road 603 East, Snowmass Village, CO; Sold Price: $3,500,000/$1,803 sq ft; unfurnished. Sold Date: 06/15/2021. Snowmass Village condos for sale. Ask Price: $3,500,000. (Original Price: $3,500,000 and 214 days on the market since 11/13/2020.) This is a 2020 built, 3 bedroom/3 bath, 1,941 sq ft condo. Broker comments are “One Snowmass is a ski-in, ski-out resort property just steps from Elk Camp Gondola, Base Village Plaza, The Collective, and transit center. One Snowmass owners enjoy access to the on-site fitness facility, sky terrace spa pool, and Inspirato member’s lounge. Ownership includes front desk and concierge services, generously sized owner storage and ski lockers, 5-year Inspirato membership, parking while in residence, and excellent proximity to all the dining, events, and programming offered in Base Village.” 2020 taxes: $25,691; HOA Dues: $33,721. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 04/06/2021; Sold Date: 06/15/2021. (Photos and broker comments courtesy of Slifer Smith & Frampton Real Estate)

MLS #168634 – Meadow Ranch, 20 Meadow Ranch Road, Snowmass Village, CO; Sold Price: $1,660,000/$823 sq ft; furnished. Sold Date: 06/17/2021. More details below photos.

MLS #168634 – Meadow Ranch, 20 Meadow Ranch Road, Snowmass Village, CO; Sold Price: $1,660,000/$823 sq ft; furnished. Sold Date: 06/17/2021. Snowmass Village homes for sale. Ask Price: $1,749,500. (Original Price: $1,749,500 and 122 days on the market since 02/15/2021. Previously, the property closed at $1.215M/$603 sq ft on 04/04/2018.) This is a 1977 built and 2005 remodeled, 4 bedroom/2 bath/1 half-bath, 2,016 sq ft single family home. Broker comments are “Ski home from Snowmass Mountain to enjoy a hot tub soak in the back yard aspen grove. Stylish and renovated single family residence in a private section of Meadow Ranch subdivision. Views of Snowmass Valley from the front and privacy from hot tub in the back of the home. Inside a European country style décor with custom antique closet doors, high end finishes, and sophisticated furniture and furnishings. Abundant natural light, deck and lawn.” 2020 taxes: $4,450; HOA Dues: $6,988. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 04/19/2021; Sold Date: 06/17/2021. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty – Durant)

MLS #169589 – Aspenwood, Condominium, 600 Carriage Way J-7, Snowmass Village, CO; Sold Price: $332,000/$638 sq ft; furnished. Sold Date: 06/10/2021. More details below photos.

MLS #169589 – Aspenwood, Condominium, 600 Carriage Way J-7, Snowmass Village, CO; Sold Price: $332,000/$638 sq ft; furnished. Sold Date: 06/10/2021. Snowmass Village condos for sale. Ask Price: $334,000. (Original Price: $334,000 and 51 days on the market since 04/20/2021.) This is a 1967 built and 1980 remodeled, studio/1 bath, 520 sq ft condo. Broker comments are “Excellent location within a short walk of the Snowmass Ski Area. Cozy and well maintained, this studio is an ideal vacation spot and short term rental opportunity. Aspenwood has a centrally located heated pool and hot tub for its owners and guests. You are just steps to the Westin Hotel and Snowmass Village Mall for shopping, dining and bus shuttle throughout Snowmass and to Aspen. Perfect and affordable way to own on the slopes of Snowmass Mt.” 2020 taxes: $852; HOA Dues: $1. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 04/26/2021; Sold Date: 06/10/2021. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Snowmass Village)

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