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.

Base of Aspen Mtn Townhome 1994 Built/2005 Remodel Closes at $5.625M/$1,913 Sq Ft

August 20-27, 2017 Estin Report: Last Week's Aspen Snowmass Real Estate Sales & Stats: Closed (5) + Under Contract / Pending (11)

I am hoping to launch a redesigned site in late August.
The Estin Report: July 2017 Aspen Real Estate Monthly Snapshot was posted in Current Reports. The Snapshots are usually posted on or near the 1st Monday of the month. 
Excerpt from July 2017 Snapshot:
"The Aspen market continues to be in hyper-sales territory. Activity is and feels super-charged. Add to that, early August is the time when buyers get real estate focused with summer's ending in sight. This is the busiest time of year. We should see a steady stream of offers and under contracts now through the end of September. The Aspen market is bifurcated: there's inside the roundabout and there's outside. Aspen’s most coveted neighborhoods..." 
Estin Report: Mid-Year 2017 State of Aspen Real Estate was released in June 2017 in Current Reports. The 32-Page report is available on-line as PDF and is available in  print in kiosks at the airport, the info booth across from Paradise Bakery town and at Sothebys offices at 415 E Hyman in the Mall and 300 S Spring opposite the Art Museum.

"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 35, August 20 - 27, 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 (5):  MLS#s149071, 143663, 150573, 146620, 149234. This link is valid until 9/26/2017.

Under Contract/Pending (11): MLS#s 142752, 142450, 144832, 146486, 146955, 148015, 148036, 148471, 149766, 150149, 150625. This link is valid until 9/26/2017.

Aspen Snowmass Solds Last Week:  
MLS #149071 - Summit Place, Central Core, 342 Summit Street, Aspen, CO. Sold Price: $5,625,000/$1,913 sq ft; furnished. More details below photos.
        
MLS #149071 - Summit Place, Central Core, 342 Summit Street, Aspen, CO. Sold Price: $5,625,000/$1,913 sq ft; furnished. Aspen single family home for sale. Ask Price: $5,990,000. (Original Price: $5,990,000 and 437 days on the market since 12/09/2015.) This is a 1994 built and 2005 remodeled, 3 bedroom/2 bath/1 half-bath/1 3/4-bath, 3,002 sq ft townhome with 2 car garage. Broker comments are "Set at the base of Ajax, this 3 bedroom townhome captivates with stunning views of Aspen Mountain to the South and Red Mountain to the North. A prime location near skiing and the center of town with a flowing floorplan lets in abundant natural light through vaulted ceilings and expansive windows. A tasteful mix of stone and wood combine to create a warm contemporary ambiance. Three bedrooms, all on their own level include two generously sized master suites that offer both intimacy and privacy with their own fireplaces, walk-in closets and full bathrooms. An additional office space is also a quiet sanctuary. For a true wow moment, take the elevator up to the top level, where you will enjoy a sophisticated entertaining space with a fireplace and an outdoor terrace with incredible views." 2016 taxes: $13,166; HOA Dues: $3,850 per Yr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 08/05/2017; Sold Date: 08/16/2017. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen) Read More

“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

May 21 – 28, 2017 Estin Report: Last Week’s Aspen Snowmass Real Estate Sales & Stats: Closed (9) + Under Contract / Pending (7)

The Estin Report: Q1 2017 & 2016 Year: State of the Aspen and Snowmass Village Real Estate Market has just been released in Current Reports. The 30-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 in about two weeks.

Starting with this week's blog, I'll be adding a "Read more" link underneath the first of last week's sold properties displayed below. This will improve site performance.

The April 2017 Aspen Snowmass Real Estate Monthly Market Snapshot was posted in Current Reports on Wed. May 3rd. The Monthly Snapshots are usually posted on or near the 1st Monday of the month.

"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 (05/17/17) as additional re-sale properties come on the market at significantly higher prices.
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Market Activity Week 21, May 21 - 28, 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 (9):  MLS#s 141963, 142401, 142777, 144426, 145834, 146951, 147352, 147902, 148384. This link is valid until 6/27/2017.

Under Contract/Pending (7): MLS#s 142982, 139662, 141344, 146585, 147155, 147674, 149019. This link is valid until 6/27/2017.

Aspen Snowmass Solds Last Week:  

MLS #148384 - Red Mountain, 120 Red Mountain Road, Aspen, CO. Sold Price: $9,600,000/$2,210 sq ft; furnished. More details below photos.
        
MLS #148384 - Red Mountain, 120 Red Mountain Road, Aspen, CO. Sold Price: $9,600,000/$2,210 sq ft; furnished. Aspen single family residence for sale. Ask Price: $9,925,000. (Original Price: $9,925,000 and 88 days on the market since 02/23/2017. The sellers paid $8.16M on 02/26/16.) This is a 1968 built and 2016 remodeled, 4 bedroom/5 bath/1 half-bath, 4,342 sq ft single family residence with 2 car garage on a 30,672 sq ft lot. This is a 1960's ski house turned into a 2016 retro cool like-new home. Broker comments are "Located at the base of Red Mountain, this fashionable four bedroom, five and one half bath luxury home just underwent a complete remodel. Featuring open living area with vaulted ceilings, gas fireplace and spectacular views extending out to a spacious deck. State of the art kitchen with stainless steel appliances and adjoining dining area with seating for eight and a cozy wood-burning fireplace. Extensive master suite with office, sitting area, gas fireplace, walk-in closet and master bath with his and hers vanities, steam shower and soaking tub. Amazing extras include a media room, hot tub overlooking Hunter Creek, an expansive mud room with storage and a two car garage." 2016 taxes: $12,926. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 04/05/2017; Sold Date: 05/22/2017. (Photos and broker comments courtesy of Whitman Fine Properties) Read More

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