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.

Last Week, Snowmass Village Only Real Estate Closings While Aspen Sales Are Quiet

Dec 10 - 17, 2017 Estin Report: Last Week's Aspen Snowmass Real Estate Sales & Stats: Closed (5) + Under Contract / Pending (12)
New in Current Reports 11/20/17: Where are we now? Chart Series: 2006 ā€“ Q3 2017 Historic Pace of Aspen and Snowmass Village Dollar and Unit Sales (updated every quarter).

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Clients often ask, ā€œWhere are we now compared to the Great Recessionā€¦?ā€. My interest in creating this series of charts is to answer that question for myself and to offer a visual reference for that conversation ā€“ to compare Aspen and Snowmass Village sales activity now to pre-recession mid-2000ā€™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 weā€™ve experienced throughout the year. We are close to beating the record year 2015.
Standout categoriesĀ for the month of November are:
1)Ā Aspen condo salesĀ 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%.Ā  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)Ā Snowmass Village values: SMV has been very active in Nov 17 with (16) sales vs (7) last year, +129%; dollar sales even better ā€“ $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 continueā€¦in general, prices are similar, if not down incrementally, from last year. Read More

NY Boston prices to fall further

There are many similarities to the NY and Aspen real estate markets, particularly their lag-time/lead time response to economic fluctuations. Last to feel effects of recession, first to bounce back, a shorter cycle than the rest of the country. So see today’s article in WSJ predicting further deterioration in these… Read More

The Estin Report Ā© – Socio-Economic Trends Affecting the Roaring Fork Valley, Summer 2007

By Tim Estin mba, griĀ | Broker Associate |Mason Morse Real Estate Aspen | 970.920.7387 office June 1, 2007 (updated from original article in Mountain Business Journal, Dec 27, 2005) Locally, the past 3 1/2 years have been unprecedented in the Aspen/Roaring Fork Valleyā€™s upward trajectory of real estate values. Prices are at record levels ā€“ although at any point in time in the past 50 years in Aspen they have been - and inventory is tight. Read More

Aspen 2008 Economic Outlook: Will the Rich Keep Spending, ADN

By Brent Gardner-Smith, Jan 2, 2008, Aspen Daily News

For Aspenā€™s gold-plated economy to continue to purr along in 2008, thousands of wealthy people will need to once again decide to build or buy large expensive Homes, entertain lavishly in those homes, purchase luxury goods such as jewelry and art, and continue to spend freely in the local resort marketplace.

While there are signs that some Americans may now be hesitating before making such decisions, there may be other off-setting factors, including the fact that even Aspenā€™s real estate prices may now look like a bargain to European consumers.

Designing, approving, building, selling, buying, maintaining and using large luxury homes in Aspen, Snowmass Village and Pitkin County is the main economic engine of the Roaring Fork Valley.
And one of the leading indicators for that sector of the economy is real estate sales.

It appears as if 2007 will have produced the second largest sum of real estate sales in Pitkin County, just behind 2006. In 2006, a record $2.4 billion worth of real estate in Pitkin County changed hands.

Through November 2007, there was $2.3 billion in real estate sales recorded, according to Land Title Guarantee Co.

And it appears as if 2008 might bring a slight chill to the local market, which is still very robust, if not surreal.

Consider that just five years ago, the amount of annual real estate sales in Pitkin County was ā€œonlyā€ $1.2 billion.

ā€œWeā€™ve seen a weakening in the numbers of sales and in dollar volumes compared to where we were in 2006,ā€ said Randy Gold, the president and owner of Aspen Appraisal Group Ltd., who recently completed a year end analysis of the Aspen and Snowmass Village real estate markets. ā€œ2006 will probably remain the record year, but so what? It doesnā€™t mean that 2007 was bad and it doesnā€™t mean the 2008 will be bad.ā€ Read More

Off the Charts: Aspen’s Unprecedented Appreciation

By Joel Stonington September 4, 2006 It's no secret that Aspen's real estate market is absurdly expensive, nor that it has experienced amazing growth in the last 30 years. Here's another log to the fire: 2006 has already seen unprecedented appreciation Read More

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