The Oct 2016 YTD Aspen Snowmass Real Estate Market Snapshot was posted on Mon Nov 7th in Current Reports.The Monthly Snapshots are usually posted on or near the 1st Monday of the month.
Oct 2016 Market Snapshot excerpt:
“Oct ‘16 is down considerably compared to the same time last year – as was Sep ‘16. Demand (sales) is way off; supply (inventory of properties for sale) is increasing. Prices, with the exception of unique and like-new properties, are trending downward especially as sellers seasonally adjust downward to post-summer, pre-winter realities and greater motivation sets in. An average 5-10% discount to ask price is common, and in some cases more. Pages 7 and 9 of this Market Snapshot identify sales by Aspen and Snowmass Village location/neighborhood with average sales to ask and original price discounts.
The time of maximum uncertainty is often the best time to get into the market. There have been some great buys in the past two months, and buyers would do well to dig deep, find motivated sellers and pull the purchase trigger. This “down” year is not going to last indefinitely and many believe there will be a post-election turnaround sooner than later.”
The Estin Report:2nd Quarter and 1st Half 2016State of the Aspen Real Estate Market with narrative, charts, tables photos was posted inCurrent Reportsas PDF (v6.6) July 20. The print edition is available at kiosks around town, at Sothebys/415 E. Hyman Mall, Sothebys/300 S. Spring St and at the airport.
Click cover above for Exec. Summary and full 28-Pg Report PDF
See recent Before/After redevelopment‘flip job’ examplesin Miscellaneous Info Sectionat 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 (05/16/16) as additional re-sale properties come on the market at significantly higher prices.
Market Activity Week 47, November 20 – 27, 2016
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 (3): MLS#s 138848, 145709, 145637. This link is valid until 12/26/2016.
Under Contract/Pending (5):MLS#s 141972, 141944, 145294, 145338, 145834 .This link is valid until 12/26/2016.
Aspen Snowmass Solds Last Week:
MLS #145637 – Aspen Villas, West End, 814 W Bleeker E-6, Aspen, CO. Sold Price: $1,295,000/$921 sq ft; unfurnished. More details below photos.
MLS #145637 – Aspen Villas, West End, 814 W Bleeker E-6, Aspen, CO. Sold Price: $1,295,000/$921 sq ft; unfurnished. Asking Price: $1,350,000. (Original Price: $1,350,000 and 99 days on the market since 08/15/2016.) This is a 1972 built and 2011 remodeled, 3 bedroom/2 bath, 1,405 sq ft condo. This condo complex is located just off Main St at the S-turn between 7th and 8th Streets. Broker comments are “Beautiful 3 bedroom townhome with lots of outdoor deck space with lovely gardens and trees for shade. In the E building and away from the noise of Highway 82. Remodeled in 2011, this home has hardwood floors, an updated kitchen and updated baths. Remodeling included the addition of more windows so the home has great natural light. Sliding glass door off the dining room to access the outdoor patio areas. Close to town but private, close to the shuttle for easy ski access, an easy walk to town and the music tent. Small condo association and beautifully maintained. Fixture over the master bath tub is excluded.” 2016 taxes: $2,527; HOA Dues: $1,700 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/14/2016; Sold Date: 11/22/2016. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-SMV)
MLS #145709 – Aspen River Valley, 2134 Lower River Road, Woody Creek, CO. Sold Price: $850,000. More details below photos.
MLS #145709 – Aspen River Valley, 2134 Lower River Road, Woody Creek, CO. Sold Price: $850,000. Asking Price: $900,000. (Original Price: $900,000 and 90 days on the market since 08/19/2016.) This is a 38.04 acres single family vacant lot. Broker comments are “Lot 7A, has 13.7 acres, and once allowed a 5,750 sf. home high above the valley, Lot 7B & 7C + the ROWs have 24.34 acres, and once allowed one to build a 5,750 sf home with an additional TDR. The approvals have lapsed. The Lot 8B Property adjacent to the west includes a charming 6 bedroom log home in great condition located on 17 acres with 400 feet of spectacular Roaring Fork River frontage on both sides of the river, It is closer to the river than is now allowed. There is reportedly a right to build a 700 sf. cabin. Home is available separately for $2,500,000. or purchase Land and home for $3,250,000.” 2015 taxes: $2,015. Under Contract Date: 08/22/2016; Sold Date: 11/17/2016. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Spring Street)
MLS #138848 – Top of Village, 855 Carriage Way-Slope 103 Slope 103, Snowmass Village, CO: Sold Price: $1,120,000/$772 sq ft; furnished. More details below photos.
MLS #138848 – Top of Village, 855 Carriage Way-Slope 103 Slope 103, Snowmass Village, CO: Sold Price: $1,120,000/$772 sq ft; furnished. Asking Price: $1,299,000. (Original Price: $1,350,000 and 1,405 days on the market since 12/23/2011.) This is a 1974 built and 2008 remodeled, 3 bedroom/3 bath, 1,450 sq ft condo. Broker comments are “Ski in / out access and views with NO steps to the front door or ski slopes! A point unit with 3 bedrooms, 3 full baths, and a spacious living area with open kitchen and dining areas. Rated as Premier and recently remodeled, this 1,450 square-foot unit has an updated feel with an inviting color palette, hidden solar shades, and sophisticated furnishings. This is on the ground level and provides a spacious patio with direct access to the grassy common space or ski slopes. Located in the Slope building directly across from the Gatehouse, this unit has easy access to the complex’s amenities including year-round pool, hot tub and shuttle services. The assigned covered parking space and on-site management make this vacation property even easier to enjoy and ren” 2015 Taxes: $3,816; HOA Dues: $13,931 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 09/23/2016; Sold Date: 11/22/2016. (Photos and broker comments courtesy of Douglas Elliman Real Estate-SMV)
Recent Estin Report tweets on Aspen Real Estate
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 at970.309.6163 or 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.”