In advance of The Estin Report 1st Quarter ’09 results, the average sold price as % of list price from 01/01/09 – 3/13/09 was: (source: Aspen/Glenwood MLS)
- Aspen Single Family Homes in Aspen and Woody Creek: (8) sold at an average of 78.32% of list price.There were no single family home sales during this period in Snowmass Village
- Aspen Condos: (5) solds at an average of 88.1% of list price.
- Snowmass Condos: (6) solds at an average of 78.4% of list price
From 10/01/09 – 03/25/09, starting at the beginning of the “economic crisis”, the average sold price discount as % of ask is: (source: The Estin Report)
- A total of (10) sold single family homes in Aspen & Woody Cr sold – at an average 31% from original ask price and -18% from ask price with an average days on market of 380.
- (3) of these sales were newer homes over 7,000 sq ft that sold on average -35% from original ask price and -15% from ask price with an average days on market of 531 days. All three of these sales were distressed, highly motivated situations.
During the peak of the market, 2007 – 2008, properties sold at an average 2-4% off ask price. (source: Aspen/Glenwood MLS)
Single Family Home Inventory – Aspen & Woody Creek, Snowmass Village – Present single family home inventory and prices in Aspen and Snowmass ( (The Estin Report 3/22/09))
Total SF listings Over $5M = 164
Total SF listings Over $6M = 124
Total SF listings Over $10M+ = 58
SF Hms active listings $5-10M = 106
SF Hms active listings $10-15M = 30
SF Hms active listings $15-20M = 15
SF Hms active listings $20M+ = 13
Snowmass Village (SMV)
Total SF listings Over $5M = 32
Total SF listings Over $10M+ = 13
SF Hms active listings $5-10M = 19
SF Hms active listings $10-15M = 7
SF Hms active listings $15-20M = 2
SF Hms active listings $20M+ = 4
Market Activity Last Week 3/22/09 -3/29/09:
Closed (3): 92719,108891,104196 (This link is valid until 4/28/09)
MLS # 92719 – The Monarch, Westside #3 Aspen Central Core condo across street from Wagner Park: Ask Price: $5.813M; Sold Price: $5.189M (-11% off ask). 4B/4Ba, 3,142 sq ft. New 2009 construction. Days on Market: 978, went under contract pre-construction.
MLS # 108891 – 117 N. Monarch #1 (Le Votaux II Condos): Ask Price: $2.495M; Sold Price: $2.05M/$1,79 sq. ft. (-18% off ask price. The original list price was $3.995M). Beautifully remodeled 2008 3B/3Ba, 1,900 sq ft condo with wonderful outdoor courtyard space.The seller purchased the property approx. 2 yrs ago as a “remodel flip job” for $1.9M. This is an excellent deal! Days on market 82
MLS # 104196 – 437 Meadowood Dr/Lot 12, single family home in Meadowood Subdivision. Ask Price: $6.5M; Sold Price: $5.625M/$1,017 sq ft (-13% off ask). 4B/4Ba, 5,530 sq ft. On market 352 days.
Under Contract/Pendings (6):104196,109528,102206,102810,109650,109855 (Link is valid to 4/28/09)
MLS # 104196 – – 437 Meadowood Dr/Lot 12, single family home in Meadowood Subdivision. Ask Price: $6.5M/$1,175 sq ft,, 4B/4Ba, 5,530 sq ft. On market 352 days.
MLS # 109528 – 1423 Crystal Lake, Aspen Club #2C. Ask Price: $3.45M/$1,500 sq ft. 3B/3Ba, 2300 sq ft, well priced Aspen Club riverside condo remodeled and beautiful. 58 days on the market.
MLS # 102206 – 71 Slopeside Ln, (Pines Lot 48) Snowmass Village new 2008 single family home: Ask Price: $10.35M/$1,836 sq ft. 5B/5Ba, 5638 sq ft. On market 470 days.
MLS # 102810 – 220 W. Buttermilk Rd, ski-in/ski-out Buttermilk single family home. Ask Price: $14.999M, 7B/6Ba, 14000 sq ft. This is a distressed developer inventory sale, probable foreclosure or short sale.
MLS # 109650 – 473 Medicine Bow RD, Brush Creek Village, Aspen. Ask Price:$2.285M/$706 sq ft. Beautiful contemporary 4B/4Ba, 3236 sq ft home. On market 33 days.
MLS # 109885 – 885 S. Starwood Dr, in Starwood Subdivision, Aspen. Ask Price: $2.95M/$1,663 sq ft. Small home on Starwood view lot, 2B/2Ba, 1773 sq ft. On marlet 21 days.