The Estin Report: Feb 2016 Aspen Snowmass Real Estate Market Snapshot was released 03/12/2016 v10.5. inCurrent Reports. On Monday afternoon, 3/14/16, I made some significant changes to my “Bottom Line” comments. Please review. The Monthly Snapshots… 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.
Bank Sale: Aspen’s Historic West End 1/2 Duplex, Built 2009, 4 Bdrm/3Ba, Perfect West End Pied a Terre at $2.25M
Back on Market 12/16/10: Bank Sale: Aspen West End Home in $2M-3M Category, Brand New 4 Bdrm, 1/2 duplex. $2.25M, superb location, Aspen Pied a Terre….This will go quickly. ASPEN REAL ESTATE – Location, Location, Location! And Brand New Construction – Live, walk and play everywhere… Read More
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
Apr 27 – May 04, 2014 Estin Report: Last Week’s Aspen Snomass Real Estate Sales & Stats: Closed (18) + Under Contract / Pending (7): Week’s Highlight – Under Contract: Red Mountain Contemporary 2014 Home Listed at $24.99M/$2,567 sf
The Estin Report April 2014 Monthly Market Snapshot of Aspen Snowmass Real Estate was released Mon May 5, 14, 2014 in the current reports section. The monthly snapshots… Read More
Jul 27 – Aug 3, 2014 Estin Report: Last Week’s Aspen Snowmass Real Estate Sales & Stats: Closed (2) + Under Contract / Pending (11) – 62 UC’s in Past 4 Wks
The site has experienced server interruptions with related active link and email contact issues Jul 19- Aug 2nd. My sincere apology. I believe it’s all fixed but I may only really know if you advise me of issues/problems. Thank you. Read More
Snowmass Base Village Lumin Penthouse Flip Job, +48% in 2 Yrs: Sold Last Week at Record $9M/$2,843 SF; Prior sale at $6.1M/$1857 SF on 2/5/19
Aspen Real Estate Market Last Week’s Sales: May 9 – 16, 21 – Week 20 Closed (14) + Under Contract / Pending (14). [To view the new blog post, you may have to “Clear your Browser Settings”. Go to: Chrome browser/more tools/clear… Read More
In-town Aspen Home at 615 S. Garmisch Closes at $19.75M/$3,401 SF Furn
Aspen Real Estate Market Last Week’s Sales: May 23 – 30, 21 – Week 22 Closed (16) + Under Contract / Pending (13). [To view the new blog post, you may have to “Clear your Browser Settings”. Go to: Chrome… Read More
Aspen Real Estate Market – 2020 Built Contemporary Home at 195 Skimming Lane Sells at $28M/$2,780 SF Unfurn.
Aspen Real Estate Market Last Week’s Sales: Dec 05 – 12, 21 – Week 50 Estin Report: 1st Half 2021 sf – Aspen Snowmass Real Estate Market Report was posted 8/17/21 in the Estin Reports… Read More
March 20 – 27, 2016 Estin Report: Last Week’s Aspen Snowmass Real Estate Sales & Stats: Closed (6) + Under Contract / Pending (7)
The Estin Report: Feb 2016 Aspen Snowmass Real Estate Market Snapshot was released 03/12/2016 v10.5. inCurrent Reports. On Monday afternoon, 3/14/16, I made some significant changes to my “Bottom Line” comments. Please review. The Monthly Snapshots are posted on… Read More
Sep 28 – Oct 05, 2014 Estin Report: Last Week’s Aspen Snowmass Real Estate Sales & Stats: Closed (11) + Under Contract / Pending (11)
Last week’s Aspen and Snowmass sales activity appears below. Scroll down the 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
March 13 – 20, 2016 Estin Report: Last Week’s Aspen Snowmass Real Estate Sales & Stats: Closed (9) + Under Contract / Pending (8)
The Estin Report: Feb 2016 Aspen Snowmass Real Estate Market Snapshot was released 03/12/2016 v10.5. inCurrent Reports. On Monday afternoon, 3/14/16, I made some significant changes to my “Bottom Line” comments. Please review. The Monthly Snapshots are posted on… Read More
April 26 – May 3, 2015 Estin Report: Last Week’s Aspen Snowmass Real Estate Sales & Stats: Closed (13) + Under Contract / Pending (6)
The Estin Report: April and YTD 2015 Aspen Snowmass Real Estate Market Snapshot was released late Monday, May 4, 2015 inCurrent Reports The Estin Report: The 4th Quarter and Year 2014 State of the… Read More
