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.

Red Mountain 2010 Contemporary Home in Aspen Sells for $19.5M/$2,315 Sq FT

June 18 - 25, 2017 Estin Report: Last Week's Aspen Snowmass Real Estate Sales & Stats: Closed (6) + Under Contract / Pending (11)

The Estin Report: May 2017 Aspen Real Estate Monthly Snapshot was posted in Current Reports on Mon. June 5th. The Snapshots are usually posted on or near the 1st Monday of the month.
Excerpt:
"There is a night and day difference between May 2017 and the same time last year. The market appears to be firing on all cylinders heading into the summer selling season. A statistic that says it all: there were (15) Aspen single family home sales in May 2017 versus (2) in May 2016, +650% (Pg 6)...One very significant investor group that currently has about 15-18 projects under redevelopment and for sale has bumped up select property prices 5% in the past two weeks in anticipation of a formidable summer."
Estin Report: Q1 2017 & 2016 Year: State of Aspen Real Estate was released on 5/27/17 in Current Reports. The 32-Page report is available on-line as PDF and will be available in a print edition distributed in kiosks around town and at the airport on June 15th.

"Flip Job" Examples: See recent Before/After Redevelopmentin the Flip Jobs Section near the bottom of the Menu Bar on the left. These are properties that have been recently or are currently in the process of redevelopment for re-sale. This post is updated (06/14/17) as additional re-sale properties come on the market at significantly higher prices.

 A "Read more" link has been recently added under the 1st of last week's sold properties displayed below. This will improve site performance.
__________________________
Market Activity Week 26, June 18 - 25, 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 excluding fractionals in the upper Roaring Fork Valley. 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 home photos and details of weekly sales and under contract / pending Aspen properties in the past 4 weeks. For earlier dates, use the down arrow to quickly find blog archives by year and date to 2008. 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 (6):  MLS#s 132594, 145291, 146808, 147064, 147382, 147639. This link is valid until 7/25/2017.

Under Contract/Pending (11): MLS#s 126246, 139667, 144574, 144842, 147453, 147506, 148709, 149497, 149550, 149601, 149615. This link is valid until 7/25/2017.

Aspen Snowmass Solds Last Week:  
 
MLS #145291 - Red Mountain Ranch, Red Mountain, 768 Hunter Creek Road, Aspen, CO. Sold Price: $19,500,000/$2,315 sq ft; unfurnished. More details below photos.
        
MLS #145291 - Red Mountain Ranch, Red Mountain, 768 Hunter Creek Road, Aspen, CO. Sold Price: $19,500,000/$2,315 sq ft; unfurnished. Aspen single family home for sale. Ask Price: $21,500,000. (Original Price: $21,500,000 and 330 days on the market since 07/21/2016. The property went under contract in early Feb 2017, after only 122 days on the market. The sellers paid $17.5M on 04/22/15.) This is a 2010 built, 6 bedroom/6 bath/1 half-bath, 8,422 sq ft single family home with 2 car garage on a 33,591 sq ft lot. It is a gorgeous newer built home with beautiful panoramic views of the surrounding mountains and direct frontal view of Aspen Mountain. Broker comments are "Red Mountain Masterpiece located at the top of Red Mountain Ranch. Stunning A+ views in every direction. Ajax Mtn front and center and every major peak beyond. Hunter Creek wilderness surrounding property provides thousands of acres of hiking and biking trails and complete peace and privacy from the home. Unique features include Geo Thermal heating and cooling, Resistance swimming pool, a billiard/game room with bar, state of the art theater with Ultra Hi-Definition Sony Theater, RTI Audio with Sonos Streaming Media Players, Lutron lighting and shading system all controlled by tablets. This spectacular custom built contemporary home is a must see." 2015 taxes: $16,465; HOA Dues: $12,086 per Yr. Under Contract Date: 02/04/2017; Sold Date: 06/16/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's International Realty-Spring Street) Read More

New Built Aspen River Spec Home Closes at $10M

July 30 - August 6, 2017 Estin Report: Last Week's Aspen Snowmass Real Estate Sales & Stats: Closed (13) + Under Contract / Pending (16)

The Estin Report: July 2017 Aspen Real Estate Monthly Snapshot was posted in Current Reports. The Snapshots are usually posted on or near the 1st Monday of the month. 
Excerpt from July 2017 Snapshot:
"The Aspen market continues to be in hyper-sales territory. Activity is and feels super-charged. Add to that, early August is the time when buyers get real estate focused with summer's ending in sight. This is the busiest time of year. We should see a steady stream of offers and under contracts now through the end of September. The Aspen market is bifurcated: there's inside the roundabout and there's outside. Aspen’s most coveted neighborhoods..." 
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 is 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.

"Flip Job" Examples: See recent Before/After Redevelopmentin the Flip Jobs Section near the bottom of the Menu Bar on the left. These are properties that have been recently or are currently in the process of redevelopment for re-sale. This post is updated (06/14/17) as additional re-sale properties come on the market at significantly higher prices.

 A "Read more" link has been recently added under the 1st of last week's sold properties displayed below. This will improve site performance.
__________________________
 

Market Activity Week 32, July 30 - August 6, 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 excluding fractionals in the upper Roaring Fork Valley. 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 home photos and details of weekly sales and under contract / pending Aspen properties in the past 4 weeks. For earlier dates, use the down arrow to quickly find blog archives by year and date to 2008. 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 (13):  MLS#s 140533, 139667, 143169, 144966, 145249, 145712, 147239, 148709, 149392, 149550, 149676, 149764, 150251. This link is valid until 9/5/2017.

Under Contract/Pending (16): MLS#s 141563, 142529, 142778, 142878, 142951, 144511, 146620, 146913, 148187, 148188, 148440, 148870, 149130, 149613, 149961, 150229. This link is valid until 9/5/2017.

Aspen Snowmass Solds Last Week:  
MLS #140533 - Knollwood, East Aspen, 42302 Highway 82 1, Aspen, CO. Sold Price: $10,000,000/$1,987 sq ft. More details below photos.
        
MLS #140533 - Knollwood, East Aspen, 42302 Highway 82 1, Aspen, CO. Sold Price: $10,000,000/$1,987 sq ft. Aspen single family home for sale. Ask Price: $11,995,000. (Original Price: $10,675,000 and 716 days on the market since 08/11/2015.) This is a 2016 built, 4 bedroom/4 bath/2 half-bath, 5,032 sq ft single family home with 2 car garage on more than 1/2 acre or 25,000 sq ft lot. Broker comments are "First of three gorgeous contemporary homes to built on the most exclusive and unique river front setting Aspen has ever experienced. This parcel looks onto the gorgeous Roaring Fork and across to the complete privacy of the Stillwater open space parcel. Lot one offers the largest home with the most subdivision open space exposure. A easy walk or bike to town, this small exceptional subdivision is a very precious offering. Don't miss getting this wonderful opportunity to own a fabulous new home on the river." 2015 taxes: $22,302; HOA Dues: TBD. Under Contract Date: 09/30/2016; Sold Date: 07/28/2017. (Photos and broker comments courtesy of Whitman Fine Properties) Read More

2015 Built McLain Flats Home Sells at $9M/$1,189 sq ft Furnished

Jan. 28 - Feb. 4, 2018 Estin Report: Last Week's Aspen Snowmass Real Estate Sales & Stats: Closed (7) + Under Contract / Pending (14)
The Dec 2017 Market Snapshot was released 01/13/17 in Current Reports.  Jan 2018 will be released early this week.
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.  Q4 2017 update to be updated soon).
    
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
Bottom Line Dec 2017
"Dec 2017 ended on a weak note compared to what was to an outstanding year. A disappointment in fact. But maybe this was the reprieve we needed after an exceptionally strong three months in August, Sep and Oct ’17.
For the year, dollar sales at $1.512B were almost dead-even with $1.513B in Year 2015;  unit sales were also near even with 2015 with (433) in 2017 versus (442) in 2015. Years 2017 and 2015 were remarkably similar to one another and the best performing years of the past ten, 2008-2017, while 2017 had the lowest inventory of properties for sale of that ten year period: (762) listings inventory 2017 vs (858) in 2015, -11%.
Standout categories for the month of December are:
1) Sales of properties over $10M and over at near record of 2015.

For the year 2017, dollar sales of properties $10M and above are up 181% to $442M from $157M in 2016; Unit sales are up 142% to (29) versus (12) last year.
In 2017, $10M and over property sales accounted for $442M, or 29%, of the $1.512B total market dollar sales and (29), or 7%, of the (433) total unit sales.
In 2015, sales of properties $10M and over were $454M, or 30%, of the $1.513B total market dollar sales and (30), or 7%, of the (441) total unit sales.

2) Aspen condos: Sales are up 29% YTD while inventory of available listings is down -18%. High demand and falling inventory is creating price pressure: In the 3-mos sales period from Oct-Dec 17, the avg Aspen Core condo/townhome sold at $1,514 sq ft over $1,252 in the same period Dec 2017, +21%.
3) Where are the Aspen Discounts? Checkout areas a bit farther out of town but more than compensating for the 'relative' distance are the staggering views and high mountain scenery. This is 'Rocky Mountain High' living at its best at sub-prime pricing!  Giddy-up folks!!  For example, Starwood had (2) sales in the three months of Oct-Dec 17 at an avg $624 sq ft vs $616 sq ft same period a year ago, +1%.  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 sales +31%,  $2,227 sq ft in Oct-Dec 2017 vs $1,704 sq ft in the same period last year. Another example is Woody Creek where home prices over $1.5M are still relatively discounted at $1,310 sq ft in Oct-Dec 2017 versus $963 sq ft same time last year. +36%. See Best Deals for Starwood/McLain Flats and Woody Creek properties.
4) Snowmass Village values: SMV is entering its prime winter selling season Dec – April, and unit sales activity has been picking up similar to 2015.  The revived Snowmass Base Village under new ownership is completing some major construction projects and the base area if starting to look and feel more finished than the construction site its been for the past 10 years. There is a lot of excitement and positive energy while at the same time,   SMV opportunities continue…in general, prices – at 40-60% discount-to-Aspen –  are similar, if not down incrementally, from last year... Read More

Please click on the email confirmation link sent to you to complete this sign-up.

For the most current Estin Reports on the Aspen Snowmass Real Estate Market
- Monthly, annual, in-between and special reports -
Call 970-309-6163.anytime to discuss specific properties and/or the market.
Your information will never be shared. Thank you for your interest.

caret-down