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THE ESTIN REPORT: STATE OF THE ASPEN REAL ESTATE MARKET 2011 YEAR AND 4TH QUARTER will be released by the end of today. See draft chart: The Estin Report: 2011 Aspen Real Estate Market Dollar and Unit Sales over Time

Click image for full report pdf (after Monday evening 9PM)

The Estin Report: State of the Aspen Market 4th Quarter and Year 2011

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.

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.

Under Contract / Pending (6): MLS# 119104, 123293, 115037, 121869, 123632, 123321. This link is valid for 30 days until 2/07/2012. Photos and descriptions of under contracts are not posted unless special circumstances or significance dictate.

Closed (5): MLS# 122030, 117227, 110186, 117007, 113457. This link is valid for 30 days until 2/07//2012.

Select Aspen Solds Last Week:

MLS #122030 – Aspen, Historic West End single family home, 715 W. North Street, Aspen, CO: Sold Price: $4,632,157/$850 sq ft unfurnished. More details below photos.

MLS #122030 – Aspen, Historic West End single family home, 715 W. North Street, Aspen, CO: Sold Price: $4,632,157/$850 sq ft unfurnished; Ask Price: $4,950,000. (Original Price: $4,950,000 and 174 days on the market since 07/15/2011.) This is a 1981 built, 4 bedroom/4 baths/1 half bath, 5,448 sq ft single family home with 2 car garage. Broker comments are, “Located on a triple-sized lot on a quiet street in the West End, this wonderfully maintained home is available for the first time by the original owner. Enjoy it as is, or personalize it with an easy interior remodel. Features include 4 bedrooms, 4.5 baths, 5,448 square feet, vaulted ceilings, hardwood floors in the kitchen & breakfast room, wood-burning fireplace, finished basement, 557 square foot two car garage, lovely front porch, intimate deck with partial views of Aspen Mountain, and a nicely landscaped yard. A rare & terrific opportunity priced for today’s market.” 2010 Taxes: $15,462. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 11/08/2011; Sold Date: 01/05/2012. (Photos and broker comments courtesy of Morris & Fyrwald, Sotheby’s Intl Realty.)

MLS #117227 – Aspen, McLain Flats single family home, 2049 McLain Flats Road, Aspen, CO: Sold Price: 4,200,000/$628 sq ft unfurnished. More details below photos.

MLS #117227 – Aspen, McLain Flats single family home, 2049 McLain Flats Road, Aspen, CO: Sold Price: $4,200,000/$628 sq ft unfurnished; Ask Price: $5,450,000. (Original Price: $6.750,000 and 1,463 days on the market since 12/27/2007.) This is a 1994 built, 4 bedroom/4 baths/1 half bath, 6,687 sq ft single family home with 2 car garage on 6.55 acres. This property has been on the market through the entire past 4 year boom and recession cycle. It is arguably a high end McLain Flats lot sale. Broker comments are, “Palladio: A well recognized form of architecture which says you don’t want to be like everybody else, you are the type to enjoy something unique. Palladio, known the world over now makes a statement in Aspen. This beautiful McLain Flats estate is tucked against a mountain side offering all-encompassing views of Aspen’s surrounding mountain peaks plus the 4 ski areas. The 4 bedroom home has a copper roof, Italian columns, French limestone floors, indoor pool and gym, architectural ceilings and more. All in an ambiance perfect to display an art collection to its best advantage! Owner flexible will consider the possibility of trades. Owner Financing Available. Property is on the same drive as $25,000,000 recently sold property, with similar views. Conceptual drawings for renovation see docs.” 2010 Taxes: $11,172. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 11/26/2011; Sold Date: 12/29/2011. (Photos and broker comments courtesy of Carol Dopkin R.E.)

MLS #110186 – Woody Creek, Roaring Fork Ranch, 6190 Upper River Road, Woody Creek, CO: Sold Price: $10,000,000/$586 sq ft furnished. More details below photos.


MLS #110186 – Woody Creek, Roaring Fork Ranch, 6190 Upper River Road, Woody Creek, CO: Sold Price: $10,000,000/$586 sq ft furnished; Ask Price: $16,600,000. (Original Price: $24,000,000 and 1,011 days on the market since 03/23/2009.) This is a distressed sale (estate and foreclosure issues) of a 68 acre ranch with a 1990 built, 8,520 sq ft main house and a separate caretaker cabin offering a total of 8 bedrooms/8 baths/2 half bath, and 4+ car garage. Broker comments are, “The largest, closest-to-Aspen river property in the valley, the magnificent Roaring Fork Ranch is just 10 minutes to town and the area’s four world-class ski resorts. With nearly a mile of both sides of the gold medal Roaring Fork River (with private horse/foot bridge), this 71-acre property boasts spectacular fishing just steps from a beautiful 8,520 square foot main house with meandering decks, walkways and an infinity pool overlooking the river. A great sporting family compound, these features are further complemented by a quality horse setup, irrigated pastures, a guesthouse, and a manager’s cabin.” 2010 Taxes: $12,284. Under Contract Date: 12/03/2011; Sold Date: 12/29/2011. (Photos and broker comments courtesy of Joshua & Co.)

MLS # 117007 – Snowmass Village, Ridge Run single family home, 2160 Faraway, Snowmass Village, CO: Sold Price: $3,475,000/$862 sq ft unfurnished. More details below photos.

MLS # 117007 – Snowmass Village, Ridge Run single family home, 2160 Faraway, Snowmass Village, CO: Sold Price: $3,475,000/$862 sq ft unfurnished; Ask Price: $3,800,000. (Original Price: $5,450,000 and 1,493 days on the market since 12/05/2006.) This is a 2006 built, 4 bedroom/4 baths/1 half bath, 4,031 sq ft single family home with 2 car garage. Broker comments are, “The perfect family home that offers spectacular views, mountain contemporary design and ski access close by with brand new landscaping. Open and airy floor plan with a floor-to-ceiling fireplace and a gourmet kitchen that is great for entertaining. Wonderful use of stone, slate, glass tile, marble and wood makes this an exciting home in the sky. Situated on a private and wooded lot, this home features a sumptuous master on the main level, a guest master, family room and bunk room on the lower level with two additional bedrooms on the upper level.” 2010 Taxes: $12,452; HOA Dues: $90 Yr. Town of Snowmass Village Transfer Tax of approx. 1% payable by buyer. Under Contract Date: 12/01/2011; Sold Date: 01/06/2012. (Broker photos and comments courtesy of Joshua & Co.)

MLS #113457 – Aspen, West Aspen/N. West End single family lot, 501 W. Hopkins Avenue, Aspen, CO: Sold Price: $2,000,000/$267 sq ft. More details below photos.

MLS #113457 – Aspen, West Aspen/N. West End single family lot, 501 W. Hopkins Avenue, Aspen, CO: Sold Price: $2,000,000/$267 sq ft; Ask Price: $2,750,000. (Original Price: $3,950,000 and 817 days on the market since 10/08/2009. Rare 7,500 sq ft single family corner lot located in the West End. Broker comments are, “Exceptional 7,500 square foot corner lot in the near West End with views of Aspen Mountain, centrally located just blocks from the downtown core and the Music Tent. Plans designed by Menendez Architects are available for a 6,750 square foot mountain contemporary home, which features 5 bedrooms, 5 full baths, 2 half-baths, radiant heat, central air conditioning, gracious open living areas, upper level master suite with south-facing deck, large recreation/media room, wine room, office, elevator, 2 car garage, private patios & decks, and multiple snowmelted areas. Save months & months of planning.” 2010 Taxes: $40,895. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 12/12/2011; Sold Date: 01/03/2012. (Photos and broker comments courtesy of Morris & Fyrwald, Sotheby’s Intl Realty.)

Tim Estin welcomes your business, inquiries and comments. Email: [email protected] or call 970.920.7387. Subscribe to The Estin Report and Tim Estin’s AspenRealEstateBlog.com on twitter @EstinAspen by clicking “Join the conversation” button below or click subscribe button in the menu bar on left:

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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 Email him. The Estin Report is copyrighted 2012 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.”

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