Tim Estin MBA, GRI

Aspen CO Real Estate Broker
Call Tim:(970) 309-6163

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.

2017 Built McLain Flats Spec Home Closes at $11.5M/$1,650SF

July 23 - 30, 2017 Estin Report: Last Week's Aspen SMV Real Estate Sales & Stats: Closed (6) + UC/ Pending (14)

The Estin Report: June 2017 Aspen Real Estate Monthly Snapshot was posted in Current Reports on Mon. July 10th. The Snapshots are usually posted on or near the 1st Monday of the month. 
Excerpt:
"June 2017 has been the best June for Aspen real estate in the past 10 years. Dollar sales for properties selling over $10M are up over 125% year-to-date (YTD) and for all properties, sales are up 118% YTD. At the same time, inventory of available properties for sale is declining, down 30% in June ’17 year over year, which should create upward pressure on prices..."
The Estin Report: Mid-Year 2017: State of Aspen Real Estate was released in June 2017 in Current Reports. The 32-Page report is available on-line as PDF and available in print in kiosks at the airport, the info booth across from Paradise Bakery town and at Sothebys offices at 415 E Hyman in the Mall and 300 S Spring opposite the Art Museum.
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Market Activity Week 31, July 23 - 30, 2017
Aspen Snowmass real estate weekly sales and under contract activity appears below for the upper Roaring Fork Valley which includes all Aspen, Snowmass Village, Brush Cr Village, Woody Creek and Old Snowmass properties over $250,000 excluding fractionals. 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 the past 4 weeks. For earlier dates, use the down arrow to access blog posts archived by year and date to 2006. Or use SearchEstinAspen or the Keyword Search bar on the right of this page to search by topic, address, subdivision, complex, date, etc.  If it's about Aspen real estate, the information should be here.
Closed (6):  MLS#s 146159, 147194, 148329, 148370, 149497, 149512. This link is valid until 8/29/2017.
Under Contract/Pending (14): MLS#s 142156, 144508, 143663, 146576, 146913, 147338, 147742, 147860, 147983, 149524, 149708, 149816, 150009, 150108. This link is valid until 8/29/2017.

Aspen Snowmass Solds Last Week:  
MLS #147194 - W/J Ranch, McLain Flats, 51 White Star Drive, Aspen, CO. Sold Price: $11,500,000/$1,650 sq ft; furnished. More details below photos.
   
 
MLS #147194 - W/J Ranch, McLain Flats, 51 White Star Drive, Aspen, CO. Sold Price: $11,500,000/$1,650 sq ft; furnished. Aspen single family home for sale. Ask Price: $13,500,000. (Original Price: $11,500,000 and 197 days on the market since 01/09/2017.) This is a 2017 built, 4 bedroom/4 bath/2 half-bath, 6,966 sq ft single family home with 2 car garage on a 7.8 acres lot. Broker comments are "Drawing on their 55 years of home building expertise, Richard Wax & Associates offers their latest Star View property at White Star Ranch Estates. The brand new and distinctive contemporary estate is strategically set on over 7 acres with a private gated entry, abundant trees, Salvation Ditch water, magnificent pond, and amazing views of Snowmass, Aspen Highlands and Buttermilk ski areas. With no roundabout or airport traffic, direct access via McLain Flats Road to downtown Aspen, and exclusive use of the White Star HOA open space for horseback riding, cross country skiing and more, the mountain lifestyle is just outside your door!" HOA Dues: $8,912 per Yr. Under Contract Date: 07/21/2017; Sold Date: 07/25/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Hyman Mall) Read More

Extraordinary Sales ‘Before MLS’ Setting New Heights and 447 W Bleeker St Sells at $33M/$5,304 SF Furn

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

Market Activity: Local Buyers Scratch and Sniff Jan 18-25, 2009

Sales Activity Last week, one property went under contract after 199 days on the market, a new Snowmass Base Village 3 Bdrm/3 Ba, 1498 sq ft slope side condo. Originally priced at $2.995M, it was reduced to $2.495M. Additionally, some Residences at Little Nell fractional units closed according to published reports in the Mountain Business Journal. See the transactions. Seven 3 bedroom units closed in the range of $1.2M-$1.75M. and one 4 bedroom, Unit F313, closed at $2.95M. Read More

East Aspen Townhome Sells at $3.925M/$1,022 SqFt

Dec 17 - 24, 2017 Estin Report: Last Week's Aspen Snowmass Real Estate Sales & Stats: Closed (4) + Under Contract / Pending (10)
New in Charts in Current Reports:
12/23/17: Charts: 2017 Aspen Sales by Neighborhood and Property Type and Downtown Condos Fly High - new charts to be included in my year end 2017 report to be released soon.

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

Estin Report: Nov. 2017 Aspen Snowmass Market Snapshot was posted on Dec 6th in Current Reports.
Nov 2017 Bottom Line
Nov 2017 continues the strong performance we’ve experienced throughout the year. We are close to beating the record year 2015.
Standout categories for the month of November are:
1) Aspen condo sales up 31% YTD while inventory of available listings is off -29%. In the 3-mos sales period from Sep-Nov 17, the avg condo/townhome sold at $1,731 sq ft over $1,346 in the same period Nov 2016, +29%.2) Value outside Aspen Core: an example of excellent values away from the Aspen Core, Starwood had (3) sales Sep-Nov 17 at an avg $610 sq ft vs $830 sq ft same period a year ago, -26%.  The caveat: these sales were for older homes selling essentially at lot value, but for reference, compare this to the avg. (3) downtown SF home sale at $2,227 sq ft in the same period.
3) Snowmass Village values: SMV has been very active in Nov 17 with (16) sales vs (7) last year, +129%; dollar sales even better – $29.7M vs $6.9M, +331%. Of (4) Ridge Run SFH sales Sep-Nov 17, the avg sale was $635 sq ft vs $1,095 same period last year. SMV opportunities continue…in general, prices are similar, if not down incrementally, from last year. Read More

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