Dec 24 – 31, 2017 Estin Report: Last Week’s Aspen Snowmass Real Estate Sales & Stats: Closed (7) + Under Contract / Pending (8)
New in Charts in Current Reports:
12/23/17: Charts: 2017 Aspen Sales by Neighborhood and Property Type and Downtown Condos Fly High – new charts to be included in my year end 2017 report to be released soon.
11/20/17: Where are we now? Chart Series: 2006 – Q3 2017 Historic Pace of Aspen and Snowmass Village Dollar and Unit Sales (updated every quarter).
Clients often ask, “Where are we now compared to the Great Recession…?” My interest in creating this series of charts is to answer that question for myself and to offer a visual reference for that conversation – to compare Aspen and Snowmass Village sales activity now to pre-recession mid-2000’s levels…Read more
Estin Report: Nov. 2017 Aspen Snowmass Market Snapshot was posted on Dec 6th in Current Reports.
Nov 2017 Bottom Line
Nov 2017 continues the strong performance we’ve experienced throughout the year. We are close to beating the record year 2015.
Standout categories for the month of November are:
1) Aspen condo sales up 31% YTD while inventory of available listings is off -29%. In the 3-mos sales period from Sep-Nov 17, the avg condo/townhome sold at $1,731 sq ft over $1,346 in the same period Nov 2016, +29%.
2) Value outside Aspen Core: an example of excellent values away from the Aspen Core, Starwood had (3) sales Sep-Nov 2017 at an avg $610 sq ft vs $830 sq ft same period a year ago, -26%. The caveat: these sales were for older homes selling essentially at lot value, but for reference, compare this to the avg. (3) downtown SF home sales at $2,227 sq ft in the same period.
3) Snowmass Village values: SMV has been very active in Nov 17 with (16) sales vs (7) last year, +129%; dollar sales even better – $29.7M vs $6.9M, +331%. Of (4) Ridge Run SFH sales Sep-Nov 17, the avg sale was $635 sq ft vs $1,095 same period last year. SMV opportunities continue…In general, prices are similar, if not down incrementally, from last year.
Deep Dive: Sales by Location ( See 3-mos sales avgs Sep-Nov ’17 on pgs 7 & 9:)
“Flip Job” Examples:
See recent Before/After Redeveloped Properties in the Flip Jobs Section. These are properties that have been recently, or are currently, in the process of redevelopment for re-sale. This post is updated regularly (12/29/2017) as additional re-sale properties come on the market at significantly higher prices.
Market Activity Week 53, Dec 24 – 31, 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 in the upper Roaring Fork Valley. Fractional/Timeshare sales are not included. Because the MLS links below expire after 30 days, photos and written descriptions of most closed properties (those with excellent photography) are posted here to preserve an archive of sold market activity. Scroll down the page for property photos and details of weekly sales and under contract / pending. For earlier dates, see the Estin Report blog archives from 2008 at the bottom of the page. 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: 144583, 146953, 148456, 150269, 151470, 151346, 152016. This link is valid until 1/30/2018.
Under Contract/Pending (8): MLS#s: 151514, 146970, 149457, 150952, 151844, 151863, 151991, 152012. This link is valid until 1/30/2018.
Aspen Snowmass Solds Last Week:
MLS #146953 – Meadowood, West Aspen, 180 Heather Lane, Aspen, CO: Sold Price: $14,700,000/$1,589 sq ft; furnished. More details below photos.
MLS #146953 – Meadowood Subdivision, West Aspen, 180 Heather Lane, Aspen, CO: Sold Price: $14,700,000/$1,589 sq ft; furnished. Aspen single family home for sale. Ask Price: $14,900,000. (Original Price: $15,000,000 and 393 days on the market since 12/01/2016.) This is a 2006 built and 2014 beautifully like-new remodeled, 5 bedroom/5 bath/2 half-bath, 9,250 sq ft single family home with 2 car garage on a 1.19 acres lot. This home is less than 1/2 mile to downtown with easy access to walking/hiking/biking trails into and out of town, to the Aspen schools and to the Aspen Recreation Center. Broker comments are “This newly re-built Legacy Estate sits on 1.19 acres and offers over 9200 sq. ft. of luxury living space. The Chic Mountain Interior was created by David Easton Design, architecture by Rodney Austin of Dallas, and superb construction by Aspen Constructors, Inc. The warm and welcoming decor highlights the dramatic vistas of Aspen Mt, Aspen Highlands, Red Mountain, and Tiehack. Gourmet Chef’s Kitchen opens to a stunning Great Room and multiple entertaining spaces designed for either quiet intimacy or large gatherings. It offers walk out patios featuring hot tub and fire pit overlooking the Meadowood Open Space pond, tennis courts and nordic ski trail. No detail overlooked. Features, amenities and rare materials too numerous to list. ” 2016 Taxes: $19,512; HOA Dues: $1,360 per Yr. Under Contract Date: 12/19/2017; Sold Date: 12/29/2017. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
MLS #144583 – McLain Flats, 300 Carroll Drive, Aspen, CO: Sold Price: $2,500,000. More details below photos.
MLS #144583 – McLain Flats/Starwood Sub, 300 Carroll Drive, Aspen, CO: Sold Price: $2,500,000. Aspen single family vacant land for sale. Ask Price: $3,600,000. (Original Price: $4,500,000 and 577 days on the market since 05/31/2016.) This is a 38.24 acres single family vacant lot. It is part of the Ziff Brothers holdings in Starwood. Including this transaction, they have sold (3) parcels in 2017: 1) MLS 144582: 27 acres parcel at sold price $2.050M on 1/31/17; 2) MLS 144584: 1987 homeon 13 acres at $5.5M on 6/30/17; 3) The subject property. Broker comments are “Be above it all with this Spectacular 35 acre parcel overlooking .the Roaring Fork Valley! Build your dream estate, highlighted by incredible views of Aspen Mountain, Aspen Highlands, Mt Hayden and Capital Peak all the way to Mt. Sopris. Located within the Starwood gated community for protected privacy. Just 15 minutes to Aspen. Backs up to National Forest Land.” 2016 Taxes: $40,122; HOA Dues: $593 per Yr. Under Contract Date: 12/13/2017; Sold Date: 12/29/2017. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
MLS #150269 – Riverside Condos, Central Core, 1024 E Cooper #1, Aspen, CO: Sold Price: $1,600,000/$1,754 sq ft; unfurnished. More details below photos.
MLS #150269 – Riverside, Central Core, 1024 E Cooper #1, Aspen, CO: Sold Price: $1,600,000/$1,754 sq ft; unfurnished. Aspen condo for sale. Ask Price: $1,350,000. (Original Price: $1,350,000 and 149 days on the market since 08/02/2017. The unit sold at $1.030M/$1,129 Sq Ft on 07/05/17 to a developer/builder Smithbuilt, Inc. who was going to redo and flip the property. As this buyer wanted a like-new condo, he agreed to have the seller/developer go ahead and perform the re-do work. The seller said the price for a fixed up unit would be $1.6M to which the buyer agreed.) This is a 1970 built and 2017 remodeled, 2 bedroom/2 bath, 912 sq ft condo. The location directly on Aspen’s main auto thoroughfare, E Cooper/Hwy 82, is a B- at best, but a sign of the times. Low Aspen Core condo inventory for sale, and buyers are taking what they can get. The fact that a buyer paid as much as $1,754 sq ft for a like-new remodel at this street level, heavily trafficked location says much about the market today. Market prices, condos at least, are on the rise as sales such as these become the new comparables. Broker comments are “This 2bd/2ba condo is located in the core just a few blocks from the Gondola. High ceilings, views of Aspen Mtn, private ground level patio, 1 designated parking space, low HOA dues, W/D, large master closet that could be turned back into 3rd bedroom and storage. Make this condo your own with a small remodel/update.” 2016 Taxes: $2,383; HOA Dues: $1,335 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 10/16/2017; Sold Date: 12/29/2017. (Photos and broker comments courtesy of Aspen Associates Realty)
MLS #151470 – Ridge Run, 211 Deer Ridge Lane, Snowmass Village, CO: Sold Price: $1,850,000/$631 sq ft; furnished. More details below photos.
MLS #151470 – Ridge Run, 211 Deer Ridge Lane, Snowmass Village, CO: Sold Price: $1,850,000/$631 sq ft; furnished. Snowmass Village single family home for sale. Ask Price: $1,945,000. (Original Price: $1,945,000 and 63 days on the market since 10/27/2017.) This is a 1981 built and 1991 remodeled, 4 bedroom/4 bath/1 loft/1 bonus room, 2,930 sq ft single family home with 2 car garage on a 27,007 sq ft lot. Broker comments are “Living the iconic Snowmass Village lifestyle has never been more attainable then in Ridge Run’s newest listing at 211 Deer Ridge Lane. Located at the beginning of the quaint Deer Ridge Lane this 4 bedroom/4 bath features outstanding straight views of Mount Daly. This bright and spacious home boasts an additional 1,000 square feet to expand the living space.” 2016 Taxes: $5,909; HOA Dues: $90 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 11/16/2017; Sold Date: 12/29/2017. (Photos and broker comments courtesy of Douglas Elliman Real Estate-SMV)
MLS #151346 – Hayden Lodge Condo, 120 Carriage Way #2207, Snowmass Village, CO: Sold Price: $800,000/$840 sq ft; furnished. More details below photos.
MLS #151346 – Hayden Lodge, 120 Carriage Way #2207, Snowmass Village, CO: Sold Price: $800,000/$840 sq ft; furnished. Snowmass Village condo for sale. Ask Price: $850,000. (Original Price: $850,000 and 67 days on the market since 10/23/2017.) This is a 2007 built, 2 bedroom/2 bath, 952 sq ft condo. Broker comments are ” Be the first in line on powder days from this slopeside 2 bed/ 2 bath Base Village condo. Currently the least expensive 2 bed/ 2 bath condo available, you’ll enjoy sitting by the cozy gas fireplace after a long day on the slopes or taking in the views and relaxing on the balcony after hitting the hiking and biking trails. This beautifully appointed, turnkey, 2nd floor property with lovely Rim Trail views sleeps 6 and features an elevator to the plaza shops and restaurants, as well as to the heated garage, parking, ski lockers and owner storage. Soak in the hot tub and owners have use of the pool at the Viceroy Hotel. No rental restrictions and boasts an excellent rental history. HOA fees are $3184.71/ QTR and Base Village Master Association fee of $665.25/Qtr.” 2016 Taxes: $7,120; HOA Dues: $3,184 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 12/15/2017; Sold Date: 12/29/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #148456 – Meadow Ranch, 141 Meadow Ranch Road, Snowmass Village, CO: Sold Price: $700,000/$565 sq ft. More details below photos.
MLS #148456 – Meadow Ranch, 141 Meadow Ranch Road, Snowmass Village, CO: Sold Price: $700,000/$565 sq ft. Snowmass Village condo for sale. Ask Price: $715,000. (Original Price: $730,000 and 259 days on the market since 04/13/2017.) This is a 1974 built and 2006 remodeled, 2 bedroom/1 bath/1 half-bath, 1,238 sq ft condo. Broker comments are: “HOA fee is only $536/month. Beautifully remodeled condo in Meadow Ranch, Snowmass Village just 15 minutes from Aspen. Hardwood floors throughout main level. Chef designed kitchen with knotty alder cabinets, granite countertops and modern appliances. AV wired for surround sound. Cast iron natural gas fireplace with stacked stone. Summer garden with mature shade trees and cute deck area. Plenty of parking; pet friendly. Large exterior walk-in storage area for bikes, skis and all your toys. Walk to Little Red School House, playground and park. Steps from free shuttle service and Aspen school bus stops.” 2016 Taxes: $1,070; HOA Dues: $1,610 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 11/09/2017; Sold Date: 12/28/2017. (Photos and broker comments courtesy of Tim Harris Real Estate)