12/03/17 The new website is upon us. The infrastructure is new, the design is new and most importantly, the functionality has vastly improved for property search, property viewing and details, 1-Click searches and blog display. This site is designed as a resource tool and archive for all things Aspen real… 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.
West End Property Sold for $15M
June 11 - 18, 2017 Estin Report: Last Week's Aspen Snowmass Real Estate Sales & Stats: Closed (8) + Under Contract / Pending (8)
This site is in the process of a re-design and I'm getting very excited anticipating the launch early next month. It's about time! Any comments and suggestions for new and/or different content, site organization and other improvements that you'd like to see would be most appreciated. Get in touch from from the contact page. Many thanks, Tim
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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.
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Market Activity Week 25, June 11 - 18, 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 (8): MLS#s 142152, 140151, 144590, 145717, 146743, 147155, 147905, 148086. This link is valid until 7/18/2017.
Under Contract/Pending (8): MLS#s 133316, 141555, 141479, 147687, 147721, 149233, 149366, 149411. This link is valid until 7/18/2017.
Aspen Snowmass Solds Last Week:
MLS #140151 - West End, 614 N Fourth Street, Aspen, CO. Sold Price: $15,320,021/$2,399 sq ft; unfurnished. More details below photos.
MLS #140151 - West End, 614 N Fourth Street, Aspen, CO. Sold Price: $15,320,021/$2,399 sq ft; unfurnished. Aspen single family home for sale. Ask Price: $14,995,000. (Original Price: $14,995,000 and 693 days on the market since 07/20/2015.) This is a 2017 built, 7 bedroom/7 bath/2 half-bath, 6,385 sq ft single family home with 2 car garage on an oversized 8,392 sq ft corner lot. Broker comments are "Stage Fine Homes proudly presents The Pearl Residence; This spectacular brand new contemporary home on an oversized prime West End lot is designed by an amazing collaboration between Aspen's S2 Architects & Bennett Design-Build. Steps from the Music Tent, and an easy stroll to the Core, The Pearl Residence offers contemporary forms and classic, organic materials with generous indoor-outdoor living spaces and great views of Ajax and Shadow. Materials include chiseled limestone, weathered wood, exposed steel, and integrated landscapes. 7 Bedroom suites (4 above-grade) offer plenty of room for your family and guests to enjoy Aspen together. Large lot offers room to entertain, rooftop deck delights with views. New address = 439 Pearl. Construction underway, completion anticipated spring '17." 2015 taxes: $8,543. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/19/2016; Sold Date: 06/12/2017. (Photos and broker comments courtesy of Aspen International Properties)
Five Trees Neighborhood 864 Moore Dr Sells at $25M/$2,355 SF Furn.
Aspen Real Estate Market Last Week’s Sales: Jan 3 – 10, 21 – Week 2 Closed (21) + Under Contract / Pending (10). [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
July 3 – 10, 2016 Estin Report: Last Week’s Aspen Snowmass Real Estate Sales & Stats: Closed (8) + Under Contract / Pending (6)
The Estin Report:May and YTD 2016 Aspen Snowmass Real Estate Market Snapshot was released June 7, 2016inCurrent Reports. The Monthly Snapshots are posted on or near the 1st Monday of the month. The June Market Snapshot will be… Read More
544 Acres & the River Runs Through It: 8500 Snowmass Crk Rd in Old Snowmass Sells at $14.75M/$2,191 SF Furn.
Aspen Real Estate Market Last Week’s Sales: Dec 27, 20 – Jan 3, 21 – Week 1 Closed (12) + Under Contract / Pending (15). [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
The Estin Report Aspen Snowmass Real Estate Weekly Market Activity: (9) Closed and (8) Under Contract: Feb. 28 – Mar. 7, 10
It was a busy week as the number of closed and under contracts attest. Here is this past week’s Aspen and Snowmass Village real estate sales activity for all property types over $250,000 excluding fractionals. (Residences at the Little Nell are included. Last week,a 3-bdrm unit, MLS # 115104,… Read More
1220 Red Butte Dr – 2021 Remodeled Riverfront Home – Closes at $18.69M/$3,182 SF Furn
Aspen Real Estate Market Last Week’s Sales: Sept 19 – 26, 21 – Week 39 Closed (15) and Under Contract / Pending (17). [To view the new blog post, you may have… Read More
September 13 – 20, 2015 Estin Report: Last Week’s Aspen Snowmass Real Estate Sales & Stats: Closed (14) + Under Contract / Pending (12)
The Estin Report: August and Summer 2015 Aspen Snowmass Market Snapshot(s)were posted 09/06/15 inCurrent Reports. Included is an exectuive summary for summer 2015 activity and key year-to-date stats. The Snapshots are released… Read More
Cemetery Ln Area: Aspen Family Home on Snowbunny Lane Closes at $3.79M/$993 sq ft
Jan 7 - 14, 2018 Estin Report: Last Week's Aspen Snowmass Real Estate Sales & Stats: Closed (5) + Under Contract / Pending (9)
The Dec 2017 Market Snapshot was released 01/13/17 in Current Reports. I discovered a Sold Price/Sq Ft bug in the Aspen Glenwood MLS data, and it is in the process of being fixed they say. However, I developed a fix - work around formula - so all figures are accurate.
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
Aspen Real Estate Market Weekly Report – 301 Conundrum Creek Rd Sells at $8.95M/$1,629 sq ft; Unfurn.
Aspen Real Estate Market Last Week’s Sales: Dec 12 – 19, 21 – Week 51 Estin Report: 1st Half 2021 sf – Aspen Snowmass Real Estate Market Report was posted 8/17/21 in the Estin Reports… Read More
1998 Maroon Creek Club Home at 1205 Tiehack Rd Closes in Deal Territory at $5.45M/$813 sq ft
Dec 31, 2017 - Jan 7, 2018 Estin Report: Last Week's Aspen Snowmass Real Estate Sales & Stats: Closed (3) + Under Contract / Pending (5)
The Dec 2017 Market Snapshot will be released early this week. I discovered a Sold Price/Sq Ft bug in the Aspen Glenwood MLS data, and it is in the process of being fixed they say. Stay tuned.
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 2017 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 sales 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
Mar 26 – Apr 2, 2017 Estin Report: Last Week’s Aspen Snowmass Real Estate Sales & Stats: Closed (13) + Under Contract / Pending (10)
The March 2017 Aspen Snowmass Real Estate Monthly Market Snapshot was postedinCurrent ReportsApr 3, 17. The Monthly Snapshots are usually posted on or near the 1st Monday of the month. The Q1 2017… Read More