Nov 26 – Dec 3, 2017 Estin Report: Last Week’s Aspen Snowmass Real Estate Sales & Stats: Closed (10) + Under Contract / Pending (8)
New in Current Reports 11/20/17: Where are we now? Chart Series: 2006 – Q3 2017 Historic Pace of Aspen and Snowmass Village Dollar and Unit Sales (updated every quarter).
Clients often ask, “Where are we now compared to the Great Recession…?”. My interest in creating this series of charts is to answer that question for myself and to offer a visual reference for that conversation – to compare Aspen and Snowmass Village sales activity now to pre-recession mid-2000’s levels…Read more
October 2017 Market Snapshot
Estin Report: Oct 2017 Aspen Real Estate Monthly Snapshot was posted in Current Reports on 11/14/17. The Snapshots are usually posted on or near the 1st Monday of the month. Nov 2017 is coming soon.
Oct ’17 Bottom Line
For 2017 YTD thru Oct, the total combined Aspen Snowmass dollar market is nearing the 2015 YTD mark, $1.23B versus $1.38B; in unit sales, it is 349 sales vs 341 respectively.
Overall inventory of available properties for sale in Oct 2017 has declined 13% since Oct 2015. For Aspen condos specifically – a particularly hot segment of the market, it has declined 17% in the same period.
Deep Dive: Sales by Location (the most recent 3 months: Aug-Oct ’17, pgs 7 & 9 of Snapshot)
Aspen: Sales by Neighborhoods Snowmass Village: Sales by Neighborhoods
“Flip Job” Examples:
See recent Before/After Redeveloped Properties in the Flip Jobs Section. These are properties that have been recently, or are currently, in the process of redevelopment for re-sale. This post is updated regularly (10/23/2017) as additional re-sale properties come on the market at significantly higher prices.
__________________________
Market Activity Week 49, Nov 26 – Dec 3, 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 in the upper Roaring Fork Valley. Fractional/Timeshare sales are not included. Because the MLS links below expire after 30 days, photos and written descriptions of most closed properties (those with excellent photography) are posted here to preserve an archive of sold market activity. Scroll down the page for property photos and details of weekly sales and under contract / pending. For earlier dates, see the Estin Report blog archives from 2008 at the bottom of the page. Or use SearchEstinAspen in 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 (10): MLS#s: 137608, 151372, 146038, 146129, 147362, 147542, 147936, 149485, 151040, 151750. This link is valid until 1/2/2018.
Under Contract/Pending (8): MLS#s: 130686, 143977, 147458, 149637, 150617, 150618, 151443, 151633. This link is valid until 1/2/2018.
Aspen Snowmass Solds Last Week:
MLS #151750 – Eagle Pines, West Aspen, 277 Eagle Park Drive, Aspen, CO. Sold Price: $15,500,000/$1,370 sq ft; furnished. More details below photos.
MLS #151750 – Eagle Pines, West Aspen, 277 Eagle Park Drive, Aspen, CO. Sold Price: $15,500,000/$1,370 sq ft; furnished. Aspen single family home for sale. Ask Price: $16,950,000. (Original Price: $16,950,000 and 761 days on the market since 07/06/2015.) This is a 1998 built, 5 bedroom/6 bath/2 half-bath, 11,312 sq ft single family home with 3 car garage on a 3.94 acres lot. This sale is another validation of the relative ‘values’ that can be found outside the Aspen roundabout, and the fact that there are buyers still interested in log constructed mountain homes. According to the Aspen Times, the buyer is major Trump supporter, friend and financier Thomas L. Barrack Jr, founder and CEO of Colony Capital, a significant buyer of distressed assets during the S & L Crisis and the most recent Great Recession. Colony was recently in the news as an investor in Weinstein and Co. in an effort to keep it afloat in the wake of the Harvey Weinstein scandal. The broker’s comments on the property are “Designed with the heritage and style of Ralph Lauren’s casual sophistication in mind, this timeless residence presents a rich combination of classic comfort with modern amenities and style. Nestled on 4 secluded, wooded acres in one of Aspen’s most private locations, the home is only minutes from downtown Aspen and provides convenient ski access to world-class skiing. With wrap-around verandas and expansive outdoor terrace spaces, you’re gifted with all-day sun, stunning views of Mt. Sopris and the Owl Creek Valley. The expansive terrace off the living areas is paved with random-cut Colorado Buff sandstone leads to a large pool, hot tub and a charming recirculating stream making exceptional year round entertaining. *See Addendum for more*” 2016 taxes: $29,905; HOA Dues: $1,000 per Qtr. Under Contract Date: 11/29/2017; Sold Date: 11/29/2017. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)
MLS #151372 – Fifth Ave Condo, Central Core, 800 S Mill Street 303, Aspen, CO. Sold Price: $2,400,000/$1,420 sq ft; furnished. More details below photos.
MLS #151372 – Fifth Ave Condo, Central Core, 800 S Mill Street 303, Aspen, CO. Sold Price: $2,400,000/$1,420 sq ft; furnished. Aspen condo for sale. Ask Price: $2,695,000. (Original Price: $2,695,000 and 35 days on the market since 10/25/2017.) This is a 1965 built and 1999 remodeled, 3 bedroom/3 bath/1 loft, 1,690 sq ft condo. This is a large condo near ski in / ski-out access with terrific remodel potential. Broker comments are “Top floor, 1,690 sq ft, 3 bed / loft 3 bath with views.” 2016 taxes: $4,337; HOA Dues: $4,334 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 10/25/2017; Sold Date: 11/29/2017. (Photos and broker comments courtesy of Berkshire Hathaway HomeServices | Aspen Snowmass Properties)
MLS #151040 – Sagewood Townhomes, West End, 910 W Hallam Street #3, Aspen, CO. Sold Price: $835,000/$1,013 sq ft. More details below photos.
MLS #151040 – Sagewood Townhomes, West End, 910 W Hallam Street #3, Aspen, CO. Sold Price: $835,000/$1,013 sq ft. Aspen condo for sale. Ask Price: $859,000. (Original Price: $859,000 and 463 days on the market since 03/28/2016.) This is a 2017 remodeled, 824 sq ft condo. The property is located in the far West End on the main Aspen bus route near the Castle Creek Bridge. Broker comments are “This newly remodeled condo is essentially everything you are looking for in Aspen’s West End. It has a spacious living room with open floor plan for dining and kitchen. The location can’t be beat. Walking distance to music tent and every thing Aspen has to offer. Hike, bike, walk, bus…and yet have a certain level of privacy. Dogs allowed for both owners & renters. Doesn’t get any better.” 2016 taxes: $1,645; HOA Dues: $1,560 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 10/04/2017; Sold Date: 11/30/2017. (Photos and broker comments courtesy of Engel & Völkers)
MLS #147936 – Silver Glo, Central Core, 940 Waters Avenue Unit #204, Aspen, CO. Sold Price: $575,000/$1,058 sq ft; furnished. More details below photos.
MLS #147936 – Silver Glo, Central Core, 940 Waters Avenue Unit #204, Aspen, CO. Sold Price: $575,000/$1,058 sq ft; furnished. Aspen condo for sale. Ask Price: $599,000. (Original Price: $599,000 and 265 days on the market since 03/09/2017.) This is a 1970 built and 2007 remodeled, 543 sq ft condo. Broker comments are “This deluxe rated one bedroom features granite counters, stainless appliances, six panel solid doors, bamboo floors, wood burning fireplace, jetted tub and washer/dryer. Just 3 blocks to the Silver Queen Gondola yet on a quiet street. The complex features pool, front desk and shuttle. Seller to retain use of the property from August 4-21, 2017.” 2016 taxes: $1,158; HOA Dues: $1,130 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 10/05/2017; Sold Date: 11/29/2017. (Photos and broker comments courtesy of Frias Properties of Aspen)
MLS #146038 – 260 Liberty Lane, Woody Creek, CO. Sold Price: $1,700,000/$617 sq ft; unfurnished. More details below photos.
MLS #146038 – 260 Liberty Lane, Woody Creek, CO. Sold Price: $1,700,000/$617 sq ft; unfurnished. Woody Creek single family home for sale. Ask Price: $1,845,000. (Original Price: $2,295,000 and 448 days on the market since 09/08/2016.) This is a 2016 built, 4 bedroom/3 bath/1 half-bath, 2,754 sq ft single family home with 2 car garage on a 2 acres lot. Broker comments are “This newly designed 4 bedroom home is located within the Aspen School District. Sited in the heart of Woody Creek, this newly constructed modern home features strategically designed glass windows and doors providing great natural light and breathtaking views of Rocky Mountain vistas and Aspen Mountain. Entirely above grade, the floor plan represents an entry level great room, dining room, and open kitchen. The second floor features an en-suite master bedroom with Aspen Mountain views, a second ensuite bedroom and two additional bedrooms that open to a central gathering area. This handsome Woody Creek home is only 8 miles to Aspen, Whole Foods and Snowmass Ski Area.” 2016 taxes: $3,038. Under Contract Date: 11/01/2017; Sold Date: 11/30/2017. (Photos and broker comments courtesy of Compass)
MLS #149485 – Wood Run, 1686 Wood Road, Snowmass Village, CO. Vacant lot sale. Sold Price: $2,700,000. More details below photos.
MLS #149485 – Wood Run, 1686 Wood Road, Snowmass Village, CO. Vacant lot sale. Sold Price: $2,700,000. Snowmass Village single family vacant lot. Ask Price: $2,950,000. (Original Price: $2,950,000 and 172 days on the market since 06/08/2017.) This is a 35,962 sq ft single family vacant lot. Broker comments are “Easily one of the best view lots in all of Snowmass Village! Tremendous, sweeping panorama of the Snowmass ski area and the valleys below. Literally 360 degree views! Easy ski access from the Guggenheim Ski Trail. This special property is awaiting your dream ski mountain retreat.” 2016 taxes: $23,611; HOA Dues: $90 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 08/23/2017; Sold Date: 11/27/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Snowmass Village)
MLS #146129 – Ridge, 229 Faraway Road #22, Snowmass Village, CO: Sold Price: $1,010,000/$637 sq ft; furnished. More details below photos.
MLS #146129 – Ridge, 229 Faraway Road #22, Snowmass Village, CO: Sold Price: $1,010,000/$637 sq ft; furnished. Snowmass Village condo for sale. Ask Price: $1,195,000. (Original Price: $1,325,000 and 789 days on the market since 08/14/2015.) This is a 1985 built and 2008 remodeled, 2 bedroom/3 bath, 1,584 sq ft condo. Broker comments are “Enjoy amazing views, high ceilings, wonderful natural light, and an extremely spacious layout in this corner Ridge Condo. The extra space provides for a third bedroom, sitting area, entertainment room or office! A gas fireplace for cool Colorado nights, reserved covered parking, heated year around pool and 2 spas on property, provide all the comforts one needs for a great vacation home or rental property. There is VERY convenient ski / village shuttle access and excellent on-site property management. Come enjoy the exquisite grounds in the summer or a ski vacation getaway in this warm and welcoming winter escape.” 2016 Taxes: $3,747; HOA Dues: $2,374 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 09/28/2017; Sold Date: 11/16/2017. (Photos and broker comments courtesy of Snowmass Select Properties)
MLS #147362 – Seasons 4, 35 Lower Woodbridge Road Unit 175, Snowmass Village, CO: Sold Price: $455,000/$479 sq ft; furnished. More details below photos.
MLS #147362 – Seasons 4, 35 Lower Woodbridge Road Unit 175, Snowmass Village, CO: Sold Price: $455,000/$479 sq ft; furnished. Snowmass Village condo for sale. Ask Price: $494,000. (Original Price: $530,000 and 311 days on the market since 01/24/2017.) This is a 1971 built and 2007 remodeled, 2 bedroom/2 bath, 949 sq ft condo. Broker comments are “Beautifully upgraded kitchen and living room in this very comfortable 2 bedroom 2 bathroom Seasons Four condominium. The living room fireplace has been upgraded to gas. The kitchen has been completely remodeled to include heated floors, granite countertops, magnificent cabinetry and high end stainless steel appliances. The bedrooms back up to the serenity of the trees for privacy. Sold furnished and turnkey. Owner loved and cared for!” 2016 Taxes: $1,449; HOA Dues: $1,523 per Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 10/27/2017; Sold Date: 12/01/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Snowmass Village)
MLS #137608 – Crestwood, 400 Wood Road I-3309, Snowmass Village, CO: Sold Price: $375,000/$404 sq ft; furnished. More details below photos.
MLS #137608 – Crestwood, 400 Wood Road I-3309, Snowmass Village, CO: Sold Price: $375,000/$404 sq ft; furnished. Snowmass Village condo for sale. Ask Price: $397,500. (Original Price: $525,000 and 1,009 days on the market since 02/10/2015.) This is a 1970 built and 2013 remodeled, 2 bedroom/2 bath, 928 sq ft condo. Broker comments are “A well-appointed one bedroom + sleeping loft with two baths. Renovated kitchen, fireplace and baths. Newly accessorized and all fresh bedding throughout – tasteful and charming. Easy access downstairs to Crestwood’s ski room and the slopes, as well as to the spa. Views of ski area from sunny master bedroom, and sweet views of Assay Hill and Elk Camp gondola from loft.” 2016 Taxes: $1,981; HOA Dues: $15,074 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 09/26/2017; Sold Date: 11/15/2017. (Photos and broker comments courtesy of Berkshire Hathaway HomeServices | Aspen Snowmass Properties)
MLS #147542 – Timberline, 690 Carriage Way #315, Snowmass Village, CO: Sold Price: $374,000/$682 sq ft; furnished. More details below photos.
MLS #147542 – Timberline, 690 Carriage Way #315, Snowmass Village, CO: Sold Price: $374,000/$682 sq ft; furnished. Snowmass Village condo for sale. Ask Price: $398,000. (Original Price: $425,000 and 299 days on the market since 02/01/2017.) This is a 1972 built and 2007 remodeled, 1 bedroom/1 bath/1 loft, 548 sq ft condo. Broker comments are “Rare top floor, south-facing studio/loft available! Breathtaking views all year round! Just steps to the pool, hot tub, work-out room, laundry, Incline ski valet/shop & The Edge restaurant and bar. Ingeniously remodeled with a mountain~ contemporary spacious feel, top to bottom by Toby Morse. Surprisingly generous deck for sunning and entertaining. Excellent long-time management team in place with a solid Board of Directors committed to maintaining capital reserves and a healthy, friendly spirit for all homeowners and guests alike.” 2016 Taxes: $1,014; HOA Dues: $687 per Month. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 09/22/2017; Sold Date: 11/27/2017. (Photos and broker comments courtesy of Berkshire Hathaway HomeServices | Aspen Snowmass Properties
____________________________________________
