Aspen Real Estate Market Last Week’s Sales: Dec 6 – 13, 20 – Week 49 Closed (17) + Under Contract / Pending (4). [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
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.
288 Willoughby Way with Aspen Mtn and River Views Closes at $29.7M/$2,790 SF Part.Furn.
Aspen Real Estate Market Last Week’s Sales: Dec 13 – 20, 20 – Week 50 Closed (24) + Under Contract / Pending (12). [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
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
Extraordinary Sales ‘Before MLS’ Setting New Heights and 447 W Bleeker St Sells at $33M/$5,304 SF Furn
In Apr 2025, there were (4) off market Aspen sales at extraordinary prices: (3) were over $50M and (1) was $33M. (Click table image to enlarge.) While these sales "before the MLS" do not get factored into average and median MLS sold price metrics, they are considered as markers and they do affect an upward price momentum in the market - at least for high-end, ultra luxury properties.
Given the general “uncertainty” prevalent in financial markets, and the media reporting of real estate sales falling through across the country, these sales deserve attention supporting the uniqueness and strength of our marketplace. Perhaps testament to hard assets, specifically Aspen real estate, gaining traction, confidence, over paper.
Property specific notes:
>270 Heather Ln Sells Before MLS at $53.3M/$7,517 SF
Built 2021, 6 Bdrm/7.5 Ba on one level on 1-acre bordering open space in the Meadowood Subdivision and walkable to Aspen District Schools.
>400 & 410 Lake Ave, premier West End location and street address, Lake Ave, with main and guest houses : 5,795 sf +1,708 sf = 7,503 sf
Lot size: 28,049 + 6,007 = 34,056 sf
These April sales reinforce what I wrote in early April for my Q1 & Mar 2025 Bottom Line: https://www.estinaspen.com/real-estate-market/q1-mar-2025-aspen-snowmass-real-estate-report/
"March was exceedingly strong with some very high-end sales in both Aspen and Snowmass Village. There were record price per sq ft sales in Aspen and record sale prices in SMV. The trend has been upwards as sold price per sq ft in the $5,000—$7,000 sf range becomes more frequent and “normalized’. The price pull continues upward. Whereas these sales used to be considered ‘outliers’ a year ago, their increasing frequency makes it more difficult to separate out, and they become a part of the overall pricing mix. In the past year, there have been (7) legit home sales in the $6-7,000 sold price per sf range. (This is excluding older homes purchases where at least 80%+ of the value is in the land.) Hence, prices are rising.
Reasons?
1. Aspen inventory of properties for sale remains at historically low levels;
2) Sales of new built single family homes are ‘pulling’ all home prices upwards
3) An increasingly restrictive land use code
4) The time to plan, design, build a new Aspen home is easily 4-5 years. In Snowmass Village, the construction “climate” is somewhat more relaxed, and likely to be less time onerous, but still 3-4 yrs.
5) Rising construction costs and labor competition
6) Escalating land costs and few quality choices, driving A+ locations stratospheric and the rest follow…"
Aspen Real Estate Market Last Week's Sales: April 27 - May 4, 25 - Week 18 Read More
Sep 21 – 28, 2014 Estin Report: Last Week’s Aspen Snowmass Real Estate Sales & Stats: Closed (6) + Under Contract / Pending (9)
Last week’s Aspen and Snowmass sales activity appears below. Scroll down the page for photos and details of weekly solds and under contract /pending Aspen properties in the past 4 weeks. For earlier dates, use the down arrow to search the… Read More
2018 Estin Report Best Aspen Restaurants Cheat Sheet
Essential 2018 Aspen restaurants list with live links, phone and brief comments by Aspen real estate broker Tim Estin. A one-stop cheat sheet to bookmark or print. Updated as needed. If you enjoy my recommendations, let’s meet up for coffee on me to see and discuss the best real estate in… Read More
Large Snowmass Ski Home at 916 Pine Crest Sells for $18.25M/$2,138 SF
Aspen Real Estate Market Last Week’s Sales: April 24 – May 01, 22 – Week 17 The Apr 2022 Snapshot will be posted in the next two days. The Q1 2022 & Mar 2022 Aspen Market Snapshot was posted 4/4/22 in… Read More
Maroon Creek Club 2.6 Acre Vacant Lot at 631 Pfister Dr Sells for $11.5M
Aspen Real Estate Market Last Week's Sales: Nov 12 - 19, 2023 - Week 46 Read More
Oct 4 – Oct 11, 2015 Estin Report: Last Week’s Aspen Snowmass Real Estate Sales & Stats: Closed (10) + Under Contract / Pending (13)
The Estin Report: Sep 2015 Aspen Snowmass Market Snapshot was posted 10/04/15 inCurrent Reports. The Snapshots are released on or near the 1st Monday of the month. Read More
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
March 12 – 19, 2017 Estin Report: Last Week’s Aspen Snowmass Real Estate Sales & Stats: Closed (5) + Under Contract / Pending (27)
The Feb 2017 Aspen Snowmass Real Estate Monthly Market Snapshot was postedinCurrent Reportsthis morning, Mar 6th. The Monthly Snapshots are usually posted on or near the 1st Monday of the month. The Q4… Read More
Most Expensive Aspen Property Ever Offered at $220M Is Sold By Bank for $46M
Aspen Real Estate Market Last Week's Sales: July 7 - July 14, 24 - Week 28 Read More