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By Tim Estin mba, gri  | Mason Morse Real Estate, Aspen |  970.920.7387 office Oct 28, 2008 (Updated from the original article, Mountain Business Journal, January 2nd, 2007) Immediate Market Highlights: Our market may have slowed but it has not stopped … we are not immune but we are insulated. Here’s what Aspen property is moving now. The overall theme is “ instant gratification” sells Superb, Aspen in-town locations and drop dead new remodels and new construction Trophy purchases, $$ seemingly no object. Realistic priced properties with motivated sellers who understand marketplace conditions and realities. Great perceived ‘value’ buys. Buyers are absolutely more discriminating than ever. West End single family homes: transactions are off -20% YTD, but off -50% from the peak YTD 2006. However, price/sq ft is higher; new product is selling; people want to be in-town, walk to everything. Aspen downtown core sales have plummeted, down 70% YTD, -76% 3Q08 and -61% below the lowest YTD 2004 Snowmass Village (SMV) single family home activity is on the uptick as sellers mark down prices and inventory begins to move. New Snowmass Base Village sales YTD have been off the chart upwards. Unknown: if developers and builders start to capitulate, how will it affect existing home prices and sales? Read More

Aspen Real Estate Market  Last Week’s Sales: Sept 12 – 19, 21 – Week 38 Closed (18) and  Under Contract / Pending (24).  [To view the new blog post, you may have… Read More

Aspen Real Estate Market  Last Week’s Sales: Feb 7 – 14, 21 – Week 7 Closed (10) + Under Contract / Pending (22).  [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

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

The Estin Report: Feb 2014 Aspen Real Estate Market Snapshot was posted in Current Reports on Mar 3, 14. The Snapshots are released on or about the 1st Monday of each month. Read More

On April 2, 2014, The Estin Estin report released March 2014 Market Snapshot of Aspen Snowmass Real Estate in the current reports section. The monthly snapshots are released on or near the 1st Monday of each month. Read More

In Apr 2025, there were (4) off market Aspen sales at extraordinary prices:  (3) were over $50M and (1) was  $33M. (Click table image to enlarge.) While these sales "before the MLS"  do not get factored into average and median MLS sold price metrics, they are considered as markers and they do affect an upward price momentum in the market - at least for high-end, ultra luxury properties.
Given the general “uncertainty” prevalent in financial markets, and the media reporting of real estate sales falling through across the country, these sales deserve attention supporting the uniqueness and strength of our marketplace. Perhaps testament to hard assets, specifically Aspen real estate, gaining traction, confidence, over paper.
Property specific notes:
>270 Heather Ln Sells Before MLS at $53.3M/$7,517 SF
Built 2021, 6 Bdrm/7.5 Ba  on one level on 1-acre bordering open space in the Meadowood Subdivision and walkable to Aspen District Schools.
>400 & 410 Lake Ave, premier West End location and street address, Lake Ave, with main and guest houses :  5,795 sf +1,708 sf = 7,503 sf
Lot size: 28,049 + 6,007 = 34,056 sf
These April sales reinforce what I wrote in early April for my Q1 & Mar 2025 Bottom Line: https://www.estinaspen.com/real-estate-market/q1-mar-2025-aspen-snowmass-real-estate-report/
"March was exceedingly strong with some very high-end sales in both Aspen and Snowmass Village. There were record price per sq ft sales in Aspen and record sale prices in SMV. The trend has been upwards as sold price per sq ft in the $5,000—$7,000 sf range becomes more frequent and “normalized’. The price pull continues upward. Whereas these sales used to be considered ‘outliers’ a year ago, their increasing frequency makes it more difficult to separate out, and they become a part of the overall pricing mix. In the past year, there have been (7) legit home sales in the $6-7,000 sold price per sf range. (This is excluding older homes purchases where at least 80%+ of the value is in the land.) Hence, prices are rising.
Reasons?
1.  Aspen inventory of properties for sale remains at historically low levels;
2)  Sales of new built single family homes are ‘pulling’ all home prices upwards
3)  An increasingly restrictive land use code
4)  The time to plan, design, build a new Aspen home is easily 4-5 years. In Snowmass Village, the construction  “climate” is somewhat more relaxed,  and likely to be  less time onerous, but still 3-4 yrs.
5) Rising construction costs and labor competition
6) Escalating land costs and few quality choices, driving A+ locations stratospheric and the rest follow…"
Aspen Real Estate Market  Last Week's Sales: April 27 - May 4, 25 - Week 18 Read More

1. Released today: The Estin Report: Vacant Land Report 2004 – 2010 YTD (June 18, 2010) (Revised 6/22/10 at 4:30PM. Added a new page 7 with charts comparing 2004 – 2010 YTD Sales Across Asset Classes: single family homes, condos and vacant land .)… Read More

The AAM continues to fundraise towards a $50 million overall capital and endowment campaign goal, with 100 percent of the endowment goal of $20 million fully secured, and over $27 million of a $30 million new building project budget goal currently pledged…The new museum is designed by internationally… Read More

Main St Bakery & Cafe – 970-925-6446970-925-6446970-925-64 – local’s tables, a favorite. Poppycocks – 970-925-1245970-925-1245970-925-1 655… Read More

I was recently interviewed by the Aspen Times on findings in the Estin Report: Nov 2020 Aspen Snowmass Real Estate Market Snapshot. Link to article by Kaya Williams, Aspen Times Photo credit: Tim Estin. For sale: top of Wood Rd, Snowmass Village overlooking Zeigler Lake. Contact… Read More