Scroll down page for photos and details of sold and under contract (pending) Aspen properties in the past 4 weeks. For earlier dates, use the down arrow to the blog archives and search by date. Or use SearchEstinAspen… 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.
The Estin Report Aspen Snowmass Weekly Real Estate Sales and Statistics: Closed (8) and Under Contract / Pending (9): Oct 28 – Nov 04, 2012
Scroll down page for photos and details of sold and under contract (pending) Aspen properties in the past 4 weeks. For earlier dates, use the down arrow to the blog archives and search by date. Or use SearchEstinAspen… Read More
Aspen Real Estate as a Safe Harbor
In last week’s column (Dec 21-26th), I focused on major demographic and socio-economic trends Read More
The Estin Report Aspen Snowmass Real Estate Weekly Market Activity: (3) Closed and (5) Under Contracts Plus Aspen & Snowmass Single Family Inventory and Prices: March 22-29. 2009
In advance of The Estin Report 1st Quarter ’09 results, the average sold price as % of list price from 01/01/09 – 3/13/09 was: (source: Aspen/Glenwood MLS) Aspen Single Family Homes in Aspen and Woody Creek: (8) sold at an average of 78.32% of list price.There were no single… Read More
New Built 127 Trentaz Dr Sells at $15.6M/$2,756 SF Furn
Aspen Real Estate Market Last Week’s Sales: April 3 – 10, 22 – Week 14 The Q1 2022 & Mar 2022 Aspen Market Snapshot was posted 4/4/22 in the Estin Reports section. The Q1 2022 Aspen Real Estate Market… Read More
The Estin Report Aspen Snowmass Real Estate Weekly Market Activity: (4) Closed and (4) Under Contract and Lot Sales/UC (4). Also, The Estin Report: Vacant Lot Sales 2004- 2009 YTD: Dec. 6 – 13, 2009
Vacant land is selling ! But …what does this mean? Earlier in the year, no one could get financing for land, vacant lot purchases, but suddenly this week, there are (3) lot closings and another is under contract. I don’t believe this “surge” has to do with easier money;… 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
Jan 8 – 15, 2017 Estin Report: Last Week’s Aspen Snowmass Real Estate Sales & Stats: Closed (12) + Under Contract / Pending (8)
The Dec 2016 YTD Snapshot has been postedinCurrent Reports. The Monthly Snapshots are usually posted on or near the 1st Monday of the month. My year end 2016 report… Read More
July 20 – 27, 2014 Estin Report Last Week’s Aspen Snowmass Real Estate Sales & Stats: Closed (4) + Under Contract / Pending (18)
The site has experienced server interruptions with related active link and email contact issues June 19-27th. My sincere apology. I believe it’s all fixed but I’ll only really know if you advise me of issues/problems. Please let me know. Thank you. Tim… Read More
Holiday Sentiment and Jan ’09 Closings for Residences at Little Nell and Dancing Bear Phase 1
Holiday Sentiment During the Christmas/New Year’s week, hyperbole was rampant. The word from visitors was that there was real estate blood on the Aspen streets (this was before the New Year’s bomb threat incident which closed Downtown Aspen for New Year’s Eve) as they confidently cited a number of incorrect examples of desperate sellers willing to let go of properties at 35-45% off ask price. One gets a sense of sharks circling with a number of prospective buyers saying they’ll wait for more downward movement in prices before striking. The pervasive out-of-towner sentiment seems to be it’s going to get worse in Aspen amidst plenty of uncertainty, fear and devastation in a number of Aspen's historically strong feeder markets ...NYC. East Coast, Miami to name some. Read More
Historic Aspen Modern “1960 Chalet” at 1295 Riverside Sells for $3.65M/$1,188 Sq Ft
Aspen Real Estate Market Last Week’s Sales: June 9 – 16, 19 – Week 24 Estin Report: Last Week’s Aspen CO Homes for Sale and Snowmass Real Estate Sales & Stats: Closed (7) + Under… Read More
2019 Built West End Home at 320 W Bleeker St Closes at $16.875MM/$2,848 SF Unfurnished
Aspen Real Estate Market Last Week’s Sales: Oct 13 – 20, 19 – Week 41 In order to view the new blog post, you may have to “Clear your Browser Settings”. Go to: Chrome browser/more tools/clear browsing data Closed (7) +… Read More