During the week of June 14 – 21th, we are starting to see new construction single family Aspen and Snowmass home closings, not perceived as of “distressed” situations, at under $1,000 sq.ft. and, more consistently, sold sf homes prices at 20-35% less than original prices from more than a year ago. The very few downtown Aspen condo closings are coming in generally at 10-20% off original ask prices from more than a year ago, although premium location and A+ units in certain complexes are selling at 5-10% less than ask prices. Typically, these high quality – one of a kind – units have been snapped up in the past few months and are not lingering on the market very long. (Example: June closing – top floor, corner, river facing Chateau Roaring Fork 3 bdrm/2 bath Ask: $1.995M; Sold $1.75M)

Under Contract/Pending (5): 108699, 104255, 109019, 110930, 111387 (This link is valid until 7/21/2009)

  • MLS # 108699 – 487 Shield ‘O Road, Old Snowmass, CO. Ask Price $695,000/$157 sq. ft (-29% off Original Price $975,500). 4 bdrm/3 bath, 3671 sq ft single family home. Built 1969/remodeled 1980, on price per sq. ft basis, and with 4 acres, this is the best “value” for single family home in immediate Aspen/Snowmass area. 185 days on the market.
  • MLS # 104255 – 725 E. Durant, Chateau Durant #17, Aspen, CO. Ask Price: $1,295,000/$1363 sq ft (-19% from Original Price $1,595,000.) 2 bdrm/2 bath, 950 sq ft condo within 1 block of Aspen Mtn Gondola. 434 days on the market
  • MLS # 109019 – 36 View Ridge Ln, Snowmass Village, CO. Ask Price: $3,595,000/$903 sq ft. (Original Price the same) 4 bdrm/4 bath, 3980 sq ft, 157 days on the market.
  • MLS # 110930 – Residences at Little Nell, Aspen Mtn Gondola Plaza, Aspen, CO. Ask Price: $1,100,000. (same as Original Price). This is a 3 bdrm/ 3 bath, 2800 sq ft RLN Fractional unit resale. 41 days on the market.
  • MLS # 111387 – 340 Pfister Dr., Maroon Creek Club. Original Ask Price: $6,950,000./$959 sq. ft. This is a 5 bdrm/5 bath, 7,247 sq. ft ski-in/ski-out Tiehack home in Maroon Creek Golf course location. At $959 sq. ft for 2002 home, this was priced to sell …only 17 days on the market before going under contract.

Closed (2): 105175,111687 (This link is valid until 7/21/2009)

  • MLS # 105175 – 1432 Sierra Vista Dr, off Cemetery Ln, Aspen, CO. Sold Price: $3,750,000/$942 sq. ft.; Ask Price: $3,995,000.(-31% off Original Price $5,350,000 initially listed May 2008). This is a new 2007 five bdrm/five bath, 3,978 sq. ft duplex home in a revitalized older Aspen neighborhood close to the public golf course characterized by a lot of new construction/tear down activity. Built by a developer builder as a spec home, the property’s been on the market since 11/08/07)
  • MLS # 111687 – 625 S. West End, Clarendon Townhomes Unit 5, Aspen, CO. Sold before the MLS at $3,000,000/$1,510 sq. ft. This is a 3 bdrm/ 3 bath, 1986 sq. ft townhome condo unit 2 blocks from the Aspen Mtn Gondola in a very popular, seldom available 14 unit complex with pool/jacuzzi, proximity to the small and charming Glory Hole Park and walking distance to skiing. The last unit to sell in the complex was #13 in Jan/Feb 2007 for approximately $3.25M, and it too was a fixer-upper like this one. That unit, #13, has been gorgeously remodeled and is on the market at $3,825,000M. (See link to (2) active Clarendon units $3.8 -$3.9M, MLS #’s: 106254 and 111627)