Aspen Real Estate Market Last Week’s Sales: Sep 6 – 13, 2020 – Week 36 Closed (30) + Under Contract / Pending (23). [To view the new blog post, you may have to “Clear your Browser Settings”. Go to: Chrome browser/more tools/clear browsing data.] The August 2020… Read More
Use this site as an Aspen real estate resource. The Estin Report has been accumulating Aspen real estate information online since 2005, and the reports include historical market information dating back to 2003-2004. Search by MLS #, date, topic, address, condo complex, development name, etc. If it is Aspen Snowmass real estate related, it is likely to be here.
Sep 27 – Oct 4, 2020 Estin Report: Last Week’s Aspen CO Homes for Sale and Snowmass Real Estate Sales & Stats: Closed + (35) + Under Contract / Pending (27)
Aspen Real Estate Market Last Week’s Sales: Sep 27 - Oct 4, 2020 - Week 39
Sep 27 - Oct 4, 2020 Estin Report: Last Week’s Aspen CO Homes for Sale and Snowmass Real Estate Sales & Stats: Closed (35) + Under Contract / Pending (27). [To view the new blog post, you may have to “Clear your Browser Settings”. Go to: Chrome browser/more tools/clear browsing data.]
Recent posts
In Charts: Estin Report Q3 2009 – Q3 2020: Aspen & Snowmass Quarterly Historic Real Estate Performance Charts by Property Types and Dollar & Unit Sales posted 10/04/20.
In Current Reports: Estin Report: Sep 2020 YTD Aspen Snowmass Real Estate Market Report Snapshot released 10/04/20 (This is a 10-Page breakdown of monthly and year-to-date sales detail by property types and by neighborhoods). These Monthly Snapshots are posted in the Current Reports Section on or near the 1st Monday of the month. It is the only monthly Aspen market report to be published in a consistent and timely manner.
Bottom Line Sep 2020: Until you actually see the numbers, all the talk about Aspen experiencing a pandemic real estate ‘gold rush’ in July, August & September 2020 seems wildly exaggerated and hyperbolic. Until it isn’t. The metrics are dizzying....Read more.
Key Takeaways:
High end purchases:
In the 3rd quarter 2020. (Jul 1,20 -Sep 30,20) There were $629M in sales of properties priced over $10M each in Q3 2020, or 71% out of a total dollar sales of $885M for Q3 2020. …This compares to same time last year, when there were $67M in sales of properties priced over $10M each in Q3 2019, or 29% of the total $235M total Q3 2019 Aspen dollar sales.
Dollar sales in Q3 2020 were almost 10x more than same period last year.
Reasons for spike in sales:
Covid 19 related, people exiting big cities – LA, NYC, Chicago, Miami, Dallas – pandemic, fires, urban unrest, health concerns, desire for better quality of life, global warming and search for cooler climate, historic low mortgage interest rates, mountain living at its best… The pandemic sales surge is the result of buyers looking for more full-time living vs vacation home properties, more space and open air. Anything new or like-new remodeled is flying off the shelf. If it is not, something’s wrong with the property.
Other less immediate reasons: Aspen offers a world class nexus of sports, arts, and culture unmatched in any other mountain community. We have amongst the strictest zoning rules in the country, super low property taxes, a sophisticated and technologically efficient valley wide public transportation system and an advanced, 40 yr old affordable housing program for locals without peer from the rest of the country.
Aspen single family home prices
In Sept 2020, the median Aspen single family home price was $12M vs 6.475M in Sep 19, +90%. This highlights the predominance of over $10M property sales in the market.
Aspen single family home avg price per sq ft in Sept 2020
Aspen single family homes avg. price per sq ft was $2,028 sf in Sep 20 vs $1,249 sf in Sep 19, +62%. This increase can largely be attributed to newer built homes selling extremely well at record prices.
Aspen condos prices in Sept 2020
The 6-mos (Apr-Sep) median Aspen condo price was $3.44M vs $2.95M in Sep 19, +67%. (Pg 7)
The average Aspen condo costs $1,803 sq ft in Sep 20 vs $1,681 sq ft in Sep 19, +7%.
Aspen 2-bdrm condo in downtown core in Sept 2020
Median downtown 2 bdrm condo costs $2.056M vs $.1.7M in Sep 2019, +21%.
The 6-mos avg price per sq ft for a 2-Bdrm Core condo is $1,967 versus $1,725 sq ft in Sep 2019, +14%.
While condo sales have been strong, they’ve been held back, or restrained, by a lack of inventory.
Links:
Q3 2020 Charts: Aspen and Snowmass Village
Sept 2020 Aspen & Snowmass Village Market Report Snapshot Read More
Aspen Real Estate Market Weekly 550 Aspen Alps Rd – The House on Little Nell – Sells for $30.945M/$4,327 SF Furn
Aspen’s premier ski house sells for highest price per sq ft in 2021. Launch pad to Little Nell Ski Trail and Aspen Mtn Gondola. Aspen Real Estate Market Last Week’s Sales: Nov 28 – Dec 05, 21… Read More
2019 Contemporary Home in Aspen Core at 28 Little Cloud Trail Sells $27.5M/$2,927 SF Furn
Aspen Real Estate Market Last Week’s Sales: Apr 4 – 11, 21 – Week 15 Closed (25) + Under Contract / Pending (45). [To view the new blog post, you may have to “Clear your Browser Settings”. Go to: Chrome browser/more tools/clear browsing data.] … Read More
2016 Remodeled Aspen Riverfront Home at 1300 Red Butte Dr Sells for $16.5M/$2,841 SF Furn
Aspen Real Estate Market Last Week’s Sales: Apr 25 – May 2, 21 – Week 18 Closed (20) + Under Contract / Pending (7). [To view the new blog post, you may have to “Clear your Browser Settings”. Go to: Chrome browser/more… Read More
The Estin Report Aspen Snowmass Real Estate Weekly Market Uodate: (7) Closed and (5) Under Contract: August 9 – 16, 10
The new chart below is an add-in to The Estin Report: 2Q2010 Aspen Snowmass Residential Report, page 10 chart, “2004 – 2010 Sales in Dollar Volume” and shows the actual annual dollar amounts. It highlights the percent change between 1st Half 2007 (peak total sales year) vs… Read More
The Estin Report Aspen Snowmass Weekly Real Estate Sales and Statistics: Closed (16) and Under Contract / Pending (10): Dec 16 – 23, 2012
Last weeks sales activity is published below. Scroll down page for photos and details of weekly solds and under contract /pending Aspen properties in the past 4 weeks. For earlier dates, use the down arrow for the blog archives by year and search by… Read More
Fivetrees Aspen Home Sells $19.12M
Aspen Real Estate Market Last Week’s Sales: March 27 – April 3, 22 – Week 13 The Q1 2022 & Mar 2022 Aspen Market Report Snapshot was posted 4/4/22 in the Estin Reports section. The Q1 2022 Aspen Real Estate Market… Read More
1987 built/2000 remodeled 176 Mountain Laurel Aspen Home Sells for $4.7MM/$891 SF Unfurn.
Aspen Real Estate Market Last Week’s Sales: Oct 20 – 27, 19 – Week 42 Closed (9) + Under Contract / Pending (14). [To view the new blog post, you may have to “Clear your Browser Settings”. Go to:… Read More
The Estin Report Aspen Snowmass Real Estate Weekly Market Update Closed (8) and Under Contract (5): Nov. 13 – Nov. 20, 2011
Tim Estin is an active Aspen real estate broker with Coldwell Banker Mason Morse located in the center of Aspen. This blog, www.AspenRealEstateBlog.com or Tim Estin’s blog, is released Monday mornings and sometimes in-between. The Estin… Read More
All Aspen Sales Last Week – 501 W Buttermilk Sells at $20M/$2,498 SF Furn
Aspen Real Estate Market Last Week’s Sales: Jun 27 – Jul 04, 21 – Week 27 Closed (21) and Under Contract / Pending (19). [To view the new blog post, you may have to “Clear your Browser Settings”. Go to: Chrome browser/more… Read More
The Estin Report Aspen Snowmass Weekly Real Estate Sales & Statistics: Closed (19) and Under Contract / Pending (12): Sept. 15 – 22, 2013
Last week’s sales activity is posted below. Scroll down page for photos and details of weekly solds and under contract /pending Aspen properties in the past 4 weeks. For earlier dates, use the down arrow to search the… Read More