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.

“Looking Up at Last” – Merrill Lynch Wealth Mgmt Luxury Home Report

Published by Merrill Lynch Private Banking and Investment Group, Oct. 25, 2012 An exclusive city-by-city analysis of the high-end residential real estate market suggests that those waiting for a meaningful recovery to set in need wait no longer. Click for Report pdf Resort Report Mixed Excerpt: Venerable high-end resort towns, while too small to be included in Merrill Lynch's survey of Zillow data, share the same long-term appeal of properties in Manhattan or San Francisco: a natural supply limit. As Michael Feder, president and CEO of research and analysis firm Radar Logic Inc., puts it, "They aren't making new oceanfront property in the Hamptons anymore." That's not to say such areas weren't hit hard during the crisis. "Prices in Aspen, Colo., dropped 25% to 40% after 2008", says Tim Estin, a broker at Coldwell Banker Mason Morse Real Estate in Aspen, Colo., and the publisher of The Estin Report, a monthly and quarterly analysis of the Aspen/Snowmass home market. Since then, the recovery has been a bit all over the map, Estin says. The total amount of money spent on Aspen homes surged 20% year over year in 2011, then retreated 37% year over year in the first half of 2012, then surged 55% this past summer. A lot of this has to do with the degree to which a very few number of very expensive homes can skew the market in an area like Aspen. For example, through the first half of 2011, 12 properties sold for more than $10 million, whereas during the same period this year, there were just five transactions of that magnitude. But perhaps a more telling statistic is the total number of units sold. That number — which was up 26% for the summer of 2012 vs. the summer of 2011 — suggests to Estin that while some high-end buyers may still be putting their vacation dreams on hold amid lingering uncertainties about the economy, more are recognizing that now may represent "an unprecedented opportunity" to acquire properties at prices not seen in nearly a decade. Read More

Market Activity – Residences at Little Nell Closings, Dancing Bear, The Monarch/LimeLite Condos & Other Residential: (2) Solds and (5) Under Contract: Jan 11-18, 2009

Residences at The Little Nell - Scheduled Closings Jan '09 The scheduled January '09 closings at Residences at The Little Nell at the base of the Aspen Mountain Gondola will dominate real estate news in the next few weeks. In Jan to date, there have been approximately (7) closings - of 208 total available units - of the three and four bedroom 1/8th interest fractional units. - Closed Three Bdrms: price range of the closed units last week was $1.1M - $1.65M - Closed Four Bdrms: price of the one unit that closed last week was $2.25M Read More

Market Activity – (2) Solds and Bob Bowden Development: Jan 4-11, 2009

Two properties went under contract this week. The first property highlights a very motivated situation and is priced extremely well; the second confirms the fact that a buyer(s) will step up for brand new product, especially this stunning new contemporary townhome in the center of Aspen, a five star location: In both these circumstances, quality, superb location and actual comparative value are the key reasons the properties are under contract. Read More

The Estin Report © – Aspen Real Estate: State of the Market and Trends, 3rd Quarter 2008

By Tim Estin mba, gri  | Mason Morse Real Estate, Aspen |  970.920.7387 office Oct 28, 2008 (Updated from the original article, Mountain Business Journal, January 2nd, 2007) Immediate Market Highlights: Our market may have slowed but it has not stopped … we are not immune but we are insulated. Here’s what Aspen property is moving now. The overall theme is “ instant gratification” sells Superb, Aspen in-town locations and drop dead new remodels and new construction Trophy purchases, $$ seemingly no object. Realistic priced properties with motivated sellers who understand marketplace conditions and realities. Great perceived ‘value’ buys. Buyers are absolutely more discriminating than ever. West End single family homes: transactions are off -20% YTD, but off -50% from the peak YTD 2006. However, price/sq ft is higher; new product is selling; people want to be in-town, walk to everything. Aspen downtown core sales have plummeted, down 70% YTD, -76% 3Q08 and -61% below the lowest YTD 2004 Snowmass Village (SMV) single family home activity is on the uptick as sellers mark down prices and inventory begins to move. New Snowmass Base Village sales YTD have been off the chart upwards. Unknown: if developers and builders start to capitulate, how will it affect existing home prices and sales? Read More

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