The Estin Report:On May 16-18, 2016 in Las Vegas, Aspen Snowmass Sotheby’s International Realty management and brokers joined their domestic and international partners for a 3-day event sharing global trends, new marketing platforms, showcase listings, and collaborations on innovation.
Take Away: Spring 2016 Market Trends on Luxury Real Estate Sales
The market for properties $3M and up has slowed down from New York to Cairo.
Preditictions are for a flat slow year 2016 with people seeing how the Market reacts, what happens to oil prices and who wins the election. 2017 will begin a new phase for high end real estate and should pick up a little. Everyone selling high end appears to be in agreement and is singing from this same hymn book.
April 2016 Aspen Snowmass Real Estate Market Snapshot was released May 6, 2016inCurrent Reports. The Monthly Snapshots are posted on or near the 1st Monday of the month.
Excerptfrom the April 2016 Aspen Snowmass Real Estate Market Snapshot:
“Bottom line:The Aspen Snowmass real estate market continued its significant retreat this year from a sizzling 2015. For the total combined marketplace. April 2016 had the poorest April sales activity in the past eight years since April 2009. The Aspen market alone is off 44%-61% year-to-date and in specific property categories and neighborhoods the decline is more. This is even though April is typically one of the highest performing months of the year as buyers close on property placed under contract during the ski season.”
See recent Before/After redevelopment‘flip job’ examplesin Miscellaneous Info at the bottom of the Menu Bar on the left. These are properties that have been recently or are currently being redeveloped for re-sale. This post is updated (02/16/16) as additional re-sale properties come on the market at significantly higher prices.
Last week’s Aspen and Snowmass sales activity appears below. Scroll down the page for 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 search the 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.
Market Activity Week 20, May 15 – 22, 2016
Aspen Snowmass real estate weekly sales and under contract activity appears below for all Aspen, Snowmass 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.
Closed (4):MLS#’s: 143692, 142121, 137444, 137124.This link is valid until 6/21/2016.
Under Contract/Pending (2):MLS#’s: 140077, 142908. This link is valid until 6/21/2016.
Aspen Snowmass Solds Last Week:
MLS #137124 – Golf Course Estates, West Aspen, 70 Hideaway Lane (off Highway 82 just west of the Roundabout), Aspen, CO. Sold Price: $10,401,488/$1,143 sq ft. More details below photos.
MLS #137124 – Golf Course Estates, West Aspen, 70 Hideaway Lane, Aspen, CO. Sold Price: $10,401,488/$1,143 sq ft. Asking Price: $13,649,000. (Original Price: $14,950,000 and 1,236 days on the market since 11/19/2012.) This is a 1996 built, 5 bedroom/6 bath/2 half-bath, 9,100 sq ft single family residence with 4+ car garage on a 194,278 sq ft lot. It is located on Hwy 82 between the Roundabout and Aspen Cross Country Ski and Tennis Center with a long approximate .02-.03 mile driveway from the highway to the house. Broker comments are “Nowhere else in Aspen offers 4.5 flat acres with staggering south views towards Aspen Highlands and Pryamid Peak, horses, swimming, snowmobiling, paddle boarding, soccer, Nordic skiing, decks and patios, lawn parties, hiking, and biking… yards before the Aspen city limit. Find paradise on this south-facing estate at the end of the long flat driveway. The unobstructed views to Smuggler, Shadow Mt, Highlands, Pyramid Peak, & Tiehack are forever protected by the 63 acre surrounding Moore Open Space. Enjoy 9100 s.f. of luxurious interior space (including a 1 bedroom ADU). There’s an additional 1800 s.f. of heated garage space. No where else in Aspen offers this plus a trout filled pond with sand beach, horse pasture, miles of trails, waterfalls, streams, gardens, vast lawn areas, and covered patios: 1.5 miles to the gondola.” 2015 Taxes: $15,089. Under Contract Date: 03/17/2016; Sold Date: 05/16/2016. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
MLS #137444 – Ridge Run, 119 Stellar Lane, Snowmass Village, CO: Sold Price: $4,650,000/$905 sq ft; furnished. More details below photos.
MLS #137444 – Ridge Run, 119 Stellar Lane, Snowmass Village, CO: Sold Price: $4,650,000/$905 sq ft; furnished. Asking Price: $4,895,000. (Original Price: $4,895,000 and 471 days on the market since 01/27/2015.) This is a 1984 built and 2015 remodeled, 6 bedroom/6 bath/1 half-bath, 5,136 sq ft single family residence with 2 car garage on a 32,420 sq ft lot. Broker comments are “Outstanding alpine views create the feeling of an elegant treehouse from the moment you enter the front door. Every room of this spacious mountain contemporary home focuses on connecting with the majestic surroundings. The ideal floor plan for master one-level living to a full house of family and guests, creating the perfect balance by bringing multiple living spaces together for everyone to share life’s most important and joyful moments. A cozy modern home with the warmth of walnut flooring and accents, waiting to recharge your spirit after an invigorating day in the mountains. The sixth bedroom/media room can serve many needs with its own full bath. Originally built in 1984 & now totally rebuilt with completion in 2015. There is no doubt that this home will live well in all seasons.” 2015 Taxes: $8,580; HOA Dues: $90 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 03/29/2016; Sold Date: 05/13/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Snowmass Village)
MLS #142121 – Snowmass Mountain, 55 Upper Woodbridge I-4, Snowmass Village, CO: Sold Price: $600,000/$603 sq ft; furnished. More details below photos.
MLS #142121 – Snowmass Mountain, 55 Upper Woodbridge I-4, Snowmass Village, CO: Sold Price: $600,000/$603 sq ft; furnished. Asking Price: $615,000. (Original Price: $639,000 and 137 days on the market since 12/25/2015.) This is a 1973 built, 2 bedroom/2 bath, 995 sq ft condo. Broker comments are “Completely renovated 2 bed 2 bath condo. Gorgeous quality finishes throughout. Quartz countertops, hardwood floors, Kitchen Aid stainless steel appliances, whirlpool washer and dryer. Spectacular views of Fox Run and McLain flats. Complete with wood burning fireplace, 3 flat screen TVs, limestone and mosaic tiles in bathrooms. This turn key unit is extremely private, immaculately remodeled, and exudes the mountain chic lifestyle Snowmass has to offer. Assigned parking, access to hot tub and pool, and unlimited firewood!” 2015 Taxes: $1,214; HOA Dues: $2,102 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 03/18/2016; Sold Date: 05/10/2016. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-SMV)
MLS #143692 – Seasons 4, 35 Lower Woodbridge Road Z195, Snowmass Village, CO: Sold Price: $430,000/$451 sq ft; furnished. More details below photos.
MLS #143692 – Seasons 4, 35 Lower Woodbridge Road Z195, Snowmass Village, CO: Sold Price: $430,000/$451 sq ft; furnished. Asking Price: $445,000. (Original Price: $445,000 and 125 days on the market since 01/16/2016.) This is a 1971 built, 2 bedroom/2 bath, 952 sq ft condo. Broker comments are “Great corner unit with an extra window and wood floors, this property went under contract before it was entered into MLS.” 2015 Taxes: $1,320. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 01/25/2016; Sold Date: 05/20/2016. (Photos and broker comments courtesy of Douglas Elliman Real Estate-SMV)
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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 2016 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.”