THE ESTIN REPORT: HOLIDAY 2011 YEAR-TO-DATE STATE OF THE ASPEN MARKET IS IN PROCESS AND WILL BE RELEASED SOON.
Tim Estin is an active Aspen real estate broker with Coldwell Banker Mason Morse located in the center of Aspen. This blog, www.AspenRealEstateBlog.com or Tim Estin’s blog, is released Monday mornings and sometimes in-between. The Estin Reports are released quarterly or semi-annually, annually and also special reports. For blog archives, scroll to bottom of this page and search by date or topic. Or search this site in SearchEstinAspen.com on the menu bar. If it’s about Aspen real estate, chances are there’s something about it here. Follow @EstinAspen on twitter for Aspen Snowmass real estate news, market updates, statistics, commentary and reports or subscribe to RSS feeds with the button on the left.
The Estin Report: 3rd Quarter 2011 (July 1 – Sept. 30, 2011)
State of the Aspen Real Estate Market
Click image for executive summary and complete report pdf. Released Oct. 6, 2011
Last Week’s Market Highlights – Aspen Snowmass real estate weekly sales statistics and under contract activity appears below for all Aspen, Snowmass Village, Woody Creek and Old Snowmass properties over $250,000 in the upper Roaring Fork Valley excluding fractionals. Because the MLS links below expire after 30 days, photos and written descriptions of closed properties with excellent photography are posted here to preserve a public archive of sold market activity. For past sales, scroll to page bottom and search by time period.
Aspen Market Commentary:
11/21/11 Aspen High End Surges Onward; Over $15MM Category +300% in 2011: : Read full blog post and Listen to KAJX/Aspen Public Radio Tues. 11/22/11 interview
Under Contract / Pending (2): MLS #s 121326, 117227. This link is valid for 30 days until 01/25/2012. MLS#122662 fell out of contract over the Christmas weekend. Photos and descriptions of under contracts are not posted unless special circumstances or significance dictate.
Closed (3): MLS #s 119173, 119776. 122616. This link is valid for 30 days until 01/25/2012.
Aspen Snowmass Solds Last Week:
MLS #122616 – Aspen, Central core, Caribou condo, 701 S. Monarch Street, Unit 2, Aspen, CO: Sold Price: $2,495,000/$1,305 sq ft furnished. More details below photos.
MLS #122616 – Aspen, Central core, Caribou condo, 701 S. Monarch Street, Unit 2, Aspen, CO: Sold Price: $2,495,000/$1,305 sq ft furnished; Ask Price: $2,745,000. (Original Price: $2,995,000 and 498 days on the market since 08/12/2010.) This is a 1973 built/2010 remodeled, 3 bedroom/3 baths, 1,911 sq ft condo. Broker comments are, “Owner says sell. Further $250,000 reduction. On Aspen Mountain, this luxury townhouse is both private and exclusive (no short term rentals). 1,911 sq.ft per assessor of open plan, top floor living with an elevator. Very peaceful yet central to the core, it is close to all town activities while providing direct mountain access. Big views of Shadow Mountain, Red Butte and beyond. The light sun-filled living areas and separate office are complemented by 3 bedrooms, each with its own bathroom. Additionally there are useful utility room and storage spaces. Both the exterior and interior have been recently remodeled to a very high standard. Shares a swimming pool and hot tub with just 5 other owners. Furniture negotiable.” 2010 Taxes: $9,221; HOA Dues: $3,250 Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 12/02/2011; Sold Date: 12/23/2011. (Photos and broker comments courtesy of Robert MacGregor.)
MLS 119173 – Snowmass Village, Captial Creek condo, 60 Carriage Way 3127, Snowmass Village, CO: Sold Price: $830,000/$707 sq ft furnished. More details below photos.
MLS 119173 – Snowmass Village, Captial Creek condo, 60 Carriage Way 3127, Snowmass Village, CO: Sold Price: $830,000/$707 sq ft furnished; Ask Price: $878,000. (Original Price: $878,000 and 364 days on the market since: 12/20/2010.) This is a 2008 built, 2 bedroom/2 baths, 1,173 sq ft condo located in Base Village. Broker comments are, “The only 2 bedroom offering remaining, this is also amoung the largest 2 bedroom condominiums in Base Village. The features include a large covered balcony, two private bedrooms with en-suite bathrooms and views of the Rim Trail.” 2010 Taxes: $7,571; HOA Dues: $3,617 Qtr. Snowmass Village Transfer tax of approx. 1% payable by buyer. Under Contract Date: 08/02/2011; Sold Date: 12/15/2011. (Photos and broker comments courtesy of Chaffin Light R.E.)
MLS #119776 – Snowmass Village, Melton Ranch single family home, 381 Terrace Drive, Snowmass Village, CO: Sold Price: $1,700,000/$459 sq ft unfurnished. More details below photos.
MLS #119776 – Snowmass Village, Melton Ranch single family home, 381 Terrace Drive, Snowmass Village, CO: Sold Price: $1,700,000/$459 sq ft unfurnished; Ask Price: $1,989,000. (Original Price: $1,989,000 and 1,602 days on the market since 07/31/2007.) This is a 1974 built/2005 remodeled, 5 bedroom/5 baths/1 half bath, 3,698 sq ft single family home with 2 car garage. Broker comments are, “Motivated seller, owner financing available. A wonderful mountain retreat at the top of Terrace Drive encompassing panoramic views of Snowmass Ski Area and Golf Course. It has 5 bedrooms (2 masters), 5.5 baths, 3 gas fireplaces, a/c, hot tub, oversized 2 car garage plus an extra garage for toys, great landscaping and a water feature. Fantastically decorated in Western motif (furniture package can be purchased separately). Located just a few minutes from all 4 Aspen area ski mountains, you can’t replace this package at this price! Home is also available for rent.” 2010 Taxes: $6,808. Under Contract Date: 11/07/2011; Sold Date: 12/19/2011. (Photos and broker comments courtesy of Carol Dopkin R.E.)
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Disclaimer: The statements made in The Estin Report and on 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 970.920.7387 or by email. The Estin Report is copyrighted 2011 and all rights reserved. Use is permitted subject to the following attribution: “The Estin Report: State of the Aspen Real Estate Market, By Tim Estin, mba, gri.”