The Feb 2017 Aspen Snowmass Real Estate Monthly Market Snapshot was postedinCurrent Reportsthis morning, Mar 6th. The Monthly Snapshots are usually posted on or near the 1st Monday of the month. The Q4 and Year 2016 report will be released soon.

Anarticleappeared in the Denver Post Sunday Feb 26th on Colorado Mountain resort real estate including Aspen and Pitkin County.

Bottom Line Feb 2017 Excerpt:

“For year-to-date (YTD), Jan 1 through Feb 28, 2017, the total combined Aspen Snowmass Village market is up 19% in dollar sales to $139M from $117M same time last year and no change in unit sales with (43) in 2017 versus (43) last year.

The number of under contract properties for the combined Aspen Snowmass Village market is up 52% to (35) in Feb 2017 versus (23) same time last year.

Under Contracts are used as an indicator of future activity when compared to the prior year.”

New Charts: Historic Pace of Aspen and Snowmass Village Homes, Condos and Vacant Land / Lots by Dollar Sales and Unit Sales

These new charts were posted inCurrent Reportson 02/15/17.They are: the historic pace of dollar and unit sales since 2006 with trend lines for Aspen and Snowmass Village (SMV) separately by: 1) all properties combined; 2) single family homes; 3) condos; 4) vacant land / lots. (Fractionals, with the exception of extreme sales, are not included.)

Sales velocity, or pace, whether by dollar volume or unit sales is extremely useful to consider ss the unit sales drop-off in the 2nd Half 2007 so foreshadowed the Great Recession.

While many real estate professionals use dollar volume sales as the single metric for sales performance (it often looks ‘better’), unit sales are a more reliable measure of market activity. Dollar sales can be skewed disproportionately by extreme high or low end priced sales.

Clients often ask, “Where are we now compared to the Great Recession…?”. These charts offer a solid reference for that conversation. In this instance, the starting point for the trend line is 2006, but, of course, where the trend line commences will affect its outcome…If the charts had started at 2009, the trend would be more upwards at present than is shown here.

As this is written, post-election Nov 2016 through Feb 15, 2017, sales have picked up considerably and are decidedly on an upward trajectory.

021517 Estin Report Aspen Real Estate Historic All Properties Unit Sales 590w96res

Click chart to see additional breakdown chartsfor Aspen and SMV by property types.

“Flip Job” Examples: See recent Before/After redevelopmentin the new Flip Jobs Sectionnear the bottom of the Menu Bar on the left. These are properties that have been recently or are currently in the process of redevelopment for re-sale. This post is updated (01/04/17) as additional re-sale properties come on the market at significantly higher prices.

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Market Activity Week 11, March 12 – 19, 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 excluding fractionals in the upper Roaring Fork Valley. As the MLS links below expire after 30 days, photos and written descriptions of select closed properties (those with excellent photography) are posted here to preserve an archive of sold market activity. Scroll down the page for home photos and details of weekly sales and under contract / pending Aspen properties in the past 4 weeks. For earlier dates, use the down arrow to quickly find blog archives by year and date to 2008. Or useSearchEstinAspenin 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 (5):MLS#s 145398, 147141, 147396, 147327, 141615.This link is valid until 4/18/2017.

Under Contract/Pending (27):MLS#s 141963, 142373, 126639, 141210, 141581, 139156, 139689, 139690, 139711, 140546, 140780, 144142, 144584, 145050, 145253, 145399, 146449, 146868, 147083, 147474, 147478, 147536, 147727, 147905, 147994, 148013, 148030.This link is valid until 4/18/2017.

Aspen Snowmass Solds Last Week:


MLS #145398 – Calderwood, Central Core, 1096 Waters Avenue, Aspen, CO. Sold Price: $5,300,000/$2,176 sq ft; half-duplex on the river, furnished. More details below photos.
Aspen real estate 031917 145398 1096 Waters Avenue 1 590WAspen real estate 031917 145398 1096 Waters Avenue 2 590WAspen real estate 031917 145398 1096 Waters Avenue 3 190HAspen real estate 031917 145398 1096 Waters Avenue 4 190HAspen real estate 031917 145398 1096 Waters Avenue 5 190HAspen real estate 031917 145398 1096 Waters Avenue 6 190H
MLS #145398 – Calderwood, Central Core, 1096 Waters Avenue, Aspen, CO. Sold Price: $5,300,000/$2,176 sq ft; furnished.Aspen river home for sale. Ask Price: $5,595,000. (Original Price: $6,500,000 and 379 days on the market since 03/02/2016.) This is a 2016 built, 4 bedroom/4 bath/1 half-bath, 2,435 sq ft duplex/half-duplex with 1 car garage on a 6,786 sq ft lot. Broker comments are “The property is located in Aspen’s downtown core with the Roaring Fork River streaming in the backyard and big Aspen Mountain views to the south. Listen to the sounds of the Roaring Fork River and watch trout rise from the private walkout patio of this brand new contemporary Aspen ski home. Located on a quiet cul-de-sac in the heart of downtown Aspen, only four blocks to the Silver Queen Gondola and dining and shopping. The Ute and East Aspen hiking and biking trails are just around the corner. This Aspen home seeks to redefine the mountain contemporary aesthetic by seamlessly blending indoor/outdoor living with approachable, warm contemporary construction layered with organic materials and custom, high end finishes.” 2016 taxes: $9,791. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 02/16/2017; Sold Date: 03/16/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)
MLS #147141 – Shadowview, West End, 324 W Hopkins Avenue Unit B, Aspen, CO. Sold Price: $2,650,000/$1,640 sq ft. More details below photos.
Aspen real estate 031917 147141 324 W Hopkins Avenue Unit B 1 590WAspen real estate 031917 147141 324 W Hopkins Avenue Unit B 2 590WAspen real estate 031917 147141 324 W Hopkins Avenue Unit B 3 190HAspen real estate 031917 147141 324 W Hopkins Avenue Unit B 4 190H
MLS #147141 – Shadowview, West End, 324 W Hopkins Avenue Unit B, Aspen, CO. Sold Price: $2,650,000/$1,640 sq ft. Aspen condo townhouse for sale. Ask Price: $2,795,000. (Original Price: $2,895,000 and 85 days on the market since 10/25/2016. The property previously sold at $2.75M/$1,702 sq ft on 4/26/16.) This is a 1975 built and 2015 remodeled, 2 bedroom/1 bath/1 3/4-bath/1 half-bath, 1,615 sq ft townhouse. Broker comments are “Truly a rare find just a few walkable blocks from downtown Aspen. Very private and quiet location on the Hopkins pedestrian/ bikeway provides easy access to town and trails. The beautiful, contemporary finishes compliment bright, and generous living spaces. High ceilings and skylights make this a spacious and cheerful residence. Additional features include 2 master suites with private offices and baths, vaulted ceilings, ample storage, a covered carport, and a private courtyard.” 2015 taxes: $4,518; HOA Dues: $1,615 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 02/06/2017; Sold Date: 03/08/2017. (Photos and broker comments courtesy of Aspen Real Estate Company)
MLS #147396 – Hunter Creek, Smuggler, 1112 Vine Street 1112, Aspen, CO. Sold Price: $625,000/$1,075 sq ft; unfurnished. More details below photos.
Aspen real estate 031917 147396 1112 Vine Street 1112 1 590WAspen real estate 031917 147396 1112 Vine Street 1112 2 590WAspen real estate 031917 147396 1112 Vine Street 1112 3 285WAspen real estate 031917 147396 1112 Vine Street 1112 4 285W
MLS #147396 – Hunter Creek, Smuggler, 1112 Vine Street 1112, Aspen, CO. Sold Price: $625,000/$1,075 sq ft; unfurnished. Aspen condo for sale. Ask Price: $645,000. (Original Price: $645,000 and 45 days on the market since 01/27/2017.) This is a 1980 built and 2017 remodeled, 1 bedroom/1 bath, 581 sq ft condo. Broker comments are “Newly renovated, first floor, one bedroom unit views out towards the pool/hottub and tennis courts. This beautiful unit has an open floor plan with brand new appliances, quartzite countertops, high end finishes. Easy walk to town or take the bus.” 2016 taxes: $828; HOA Dues: $271 per Month. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 02/08/2017; Sold Date: 03/13/2017. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
MLS #147327 – Snowmass Mountain, 55 Woodbridge Road J-3, Snowmass Village, CO: Sold Price: $515,000/$512 sq ft; furnished. More details below photos.
Aspen real estate 031917 147327 55 Woodbridge Road J 3 1 590WAspen real estate 031917 147327 55 Woodbridge Road J 3 2 590WAspen real estate 031917 147327 55 Woodbridge Road J 3 3 190HAspen real estate 031917 147327 55 Woodbridge Road J 3 4 190HAspen real estate 031917 147327 55 Woodbridge Road J 3 5 190HAspen real estate 031917 147327 55 Woodbridge Road J 3 6 190H
MLS #147327 – Snowmass Mountain, 55 Woodbridge Road J-3, Snowmass Village, CO: Sold Price: $515,000/$512 sq ft; furnished. Aspen condo for sale. Ask Price: $515,000. (Original Price: $515,000 and 421 days on the market since 12/23/2015.) This is a 1973 built, 2 bedroom/2 bath, 1,005 sq ft condo. Broker comments are “This beautiful 2 bedroom, 2 bath condo is turn-key with unobstructed views looking across Snowmass towards the Continental Divide. A perfectly situated end unit, with extra windows maximize the surrounding views, with comfortable finishes throughout. BBQ year round on the patio over-looking the nature trail, this south facing unit enjoys an in-unit washer/dryer, upgraded fireplace, and perfectly situated living spaces. Low HOA dues with easy access to the Snowmass Village Shuttle, & Private Parking. Amenities include a heated pool, outdoor hot tub, fitness center, sauna, locker rooms, and a Party/meeting room.” 2016 Taxes: $1,786; HOA Dues: $2,176 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 01/26/2017; Sold Date: 03/17/2017. (Photos and broker comments courtesy of Alpine Real Estate, Inc)
MLS #141615 – Crestwood, 400 Wood Road #3108, Snowmass Village, CO: Sold Price: $380,000/$422 sq ft; furnished. More details below photos.
Aspen real estate 031917 141615 400 Wood Road 3108 1 590WAspen real estate 031917 141615 400 Wood Road 3108 2 190HAspen real estate 031917 141615 400 Wood Road 3108 3 190HAspen real estate 031917 141615 400 Wood Road 3108 4 190HAspen real estate 031917 141615 400 Wood Road 3108 5 190H
MLS #141615 – Crestwood, 400 Wood Road #3108, Snowmass Village, CO: Sold Price: $380,000/$422 sq ft; furnished. Aspen condo for sale. Ask Price: $389,500. (Original Price: $459,000 and 780 days on the market since 11/21/2014.) This is a 1970 built and 2010 remodeled, 2 bedroom/2 bath, 900 sq ft condo. Broker comments are “ROCK BOTTOM PRICE on this Wonderful 2 bedroom/2 bath ski-in/ski-out condo on the slopes next to The Elk Camp Gondola and just a short walk to The Treehouse Kid’s Adventure Center! Walk to the slopes, swim in the year-round heated pool, work-out in the fitness center, and soak in the 3 hot tubs, steam-rooms or sauna. Offered turn-key and fully furnished, just bring your skis, your friends or family and enjoy! HURRY – THIS WON’T LAST LONG AT THE NEW PRICE-BEST VALUE IN SNOWMASS VILLAGE!” 2014 Taxes: $2,264; HOA Dues: $19,459 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 02/25/2017; Sold Date: 03/13/2017. (Photos and broker comments courtesy of McKinley Sales)

Recent Estin Report tweets on Aspen Real Estate

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Disclaimer: The statements made in The Estin Report and on Aspen broker 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 at970.309.6163or byemail.The Estin Report is copyrighted 2017 and all rights reserved. Use is permitted subject to the following attribution with a live link to the source:“The Estin Reporton Aspen Real Estate.”

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