Last weeks sales activity is published below. Scroll down 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 blog archives by year and date. Or use SearchEstinAspen to search by topic, address, subdivision or complex name, date etc. If it’s about Aspen real estate, information should be here.

The Estin Report: December 2012 Market Snapshot Aspen Snowmass Real Estate

released Tues. 01/08/13 v5.1

Click image to December 2012 Market Snapshot and Summary

Last Week’s Market Activity Aspen Snowmass real estate weekly sales and under contract activity appears below for all Aspen, Snowmass 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 to preserve an archive of sold market activity.

CommentsDecember 2012 Aspen Snowmass Market Highlights

December 2012 was the best performing December in total dollar sales for Aspen and Snowmass Village combined since Dec. 2006; it was also the best single performing month in total dollar and unit sales for Aspen and Snowmass Village combined since Oct. 2007. Capital gains, gift and estate tax changes planned for 2013 likely fueled a number of these transactions before the end of the year and trumped the uncertainty caused by the fiscal cliff debate.

Key differences from a year ago

Total Aspen Snowmass 2012 Sales
– For the year 2012, there were 333 total unit sales, +7% over 2011 with 310 unit sales; 2012 total dollar sales totaled $973MM versus $967MM in 2011, zero percent change.

Single Family Homes
– Dec. 2012 Aspen Snowmass combined single family home sales surged to (15) sales up +114% over Dec. 2011 with (7) home sales.
– Aspen single family home unit sales in Dec. 2012 totaled (12), up +140% over the (5) homes sold in Dec. 2011. For the year 2012, Aspen home unit sales were (102) up +4% over the (98) Aspen homes sold in 2011.

Condos
– Aspen condo unit sales in Dec. 2012 at (11) was up +11% over the (9) sold in Dec. 2011; for the year 2012, Aspen condo unit sales of(104) condos sold was up 11% over the (94) units sold in 2011.

Vacant Land
– Total Aspen Snowmass vacant land sales for 2012 spiked +149% in dollar sales to $84MM from $34M in 2011.
– Total Aspen Snowmass vacant land unit sales rose +41% in 2012 with (31) sales versus (22) in 2011.
– 2012 vacant lot sales at $84M and (31) units sold represents a +224% and +48% gain respectively from 2008 sales when sales totaled $26M and (21) lot sales.
– For perspective: the 2012 vacant land sales in Aspen and Snowmass Village combined at $84M and (31) units sold represents 45% of 2007 peak year lot sales when there were $188M total ldollars spent for (50) lot sales. (See soon to be released: The Estin Report: Q4 2012 and 2012 Year: State of the Aspen Snowmass Real Estate Market).

Under Contract / Pending (7) MLS #: 118925, 127126, 122769, 127949, 127976, 127978, 127933. This link is valid for 30 days until 02/06/2013. Photos and descriptions of under contracts are not posted unless special circumstances or significance dictate.

Closed (11) MLS #: 124075, 117493, 122841, 126818, 128207, 122110, 124114, 127875, 118550, 126506, 123169. This link is valid for 30 days until 02/06/2013.

Select Aspen Snowmass Solds Last Week

MLS #124075 – Aspen, Red Mountain, Pitkin Green single family home, 0720 Willoughby Way, Aspen, CO: Sold Price: $5,300,000/$2,109 sq ft unfurnished. More details below photos.

MLS #124075 – Aspen, Red Mountain, Pitkin Green single family home, 0720 Willoughby Way, Aspen, CO: Sold Price: $5,300,000/$2,109 sq ft unfurnished; Asking Price: $6,995,000. (Original Price: $8,900,000 and 879 days on the market since 07/15/2011.) This is a 1965 built, 3 bedroom/3 bath, 2,512 sq ft single family home on 0.87 acres. Broker comments are, ” Much has changed with today’s new houses, but you’ll appreciate the charm of ”an original” from Aspen’s yesteryear. As the third lot selected out of the total 37 available in the now prestigious Pitkin Green, this fantastic property is now available for the first time by the original owner of 51 years. Quite simply, it’s a stunning front row location on Aspen’s finest street! Overlooking the rushing Roaring Fork River and the Rio Grande Trail, this classic home features abundant windows for taking in the breathtaking views and letting the sun do its work to warm the house naturally. You could say it was green ahead of its time. Add the livability of a 3 bedroom, 3 bath ranch style design to wonderful privacy and a location within walking & biking distance to downtown Aspen.” 2011 Taxes: $17,873; HOA Dues: $615 Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 12/26/2012; Sold Date: 01/02/2013. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s.)

MLS #117493 – Aspen, West Aspen, West Buttermilk single family lot, 1422 W. Buttermilk Road, Aspen, CO: Sold Price: $2,250,000. More details below photos.

MLS #117493 – Aspen, West Aspen, West Buttermilk single family lot, 1422 W. Buttermilk Road, Aspen, CO: Sold Price: $2,250,000; Asking Price: $3,375,000. (Original Price: $7,950,000 and 2,038 days on the market since 06/05/2007.) This is a 2.04 acre single family lot located in West Buttermilk. Broker comments are, “Enjoy unsurpassed views of Mt. Daly, Owl Creek, Red Mountain, Hunter-Fryingpan Wilderness and Hunter Creek Valley from this 2+ acre home site conveniently located on the Ridge of West Buttermilk. Wide-open spaces and stunning views from every direction give you the sensation of standing on the top-of-the-world. A delightful, sun-filled lot graced with Colorado sage, scrub oak and tall native grasses. Zone district AR-2 permits maximum build-out of 7,356 sq. ft. above grade, 4,000 sq. ft. basement exemption with 750 sq. ft. garage exemption. TDRs required for build-out above 5,750 sq. ft. Lot is approved TDR receiver site. Existing structures built in 1975 include single family home w/ 1-car garage, metal barn and detached caretaker cabin. Possession is delivery of deed plus 45 days.” 2011 Taxes: $10,979. Under Contract Date: 11/23/2010; Sold Date: 12/28/2012. (Photos and broker comments courtesy of Coldwell Banker Mason Morse.)

MLS #122841 – Aspen, Central Core, Chataeu Chaumont condo, 731 E. Durant Street #1, Aspen, CO: Sold Price: $1,040,000/$1,094 sq ft partially furnished. More details below photos.

MLS #122841 – Aspen, Central Core, Chataeu Chaumont condo, 731 E. Durant Street #1, Aspen, CO: Sold Price: $1,040,000/$1,094 sq ft partially furnished; Asking Price: $1,099,000. (Original Price: $1,400,000 and 1,255 days on the market since 04/23/2009.) This is a 1968 built/2008 remodeled, 2 bedroom/2 bath, 950 sq ft condo. Broker comments are, “The ultimate in convenience. 2 blocks to Silver Queen Gondola. 1 block to City Market. Just 2 stairs and you’re in the door! Easy walk to all of Aspen’s downtown amenities. Recently remodeled. Quality finishes. Common parking and hot tub. Rents well. Low dues. Pets ok. Wood burning fireplace.” 2011 Taxes: $2,416; HOA Dues: $1,977 Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 11/21/2012; Sold Date: 12/26/2012. (Photos and broker comments courtesy of Frias Properties of Aspen.)

MLS #126818 – Aspen, Central Core, Obermeyer Place condo, 101 Founders Place, 201 Crescent, Aspen, CO: Sold Price: $3,050,000/$1,373 sq ft furnished. More details below photos.

MLS #126818 – Aspen, Central Core, Obermeyer Place condo, 101 Founders Place, 201 Crescent, Aspen, CO: Sold Price: $3,050,000/$1,373 sq ft furnished; Asking Price: $3,330,000. (Original Price: $3,330,000 and 137 days on the market since 08/13/2012.) This is a 2006 built, 3 bedroom/3 bath/1 half bath, 2,220 sq ft condo with 2 car garage. Broker comments are, “This contemporary Obermeyer three bedroom is located across from the Rio Grande Park within walking distance to Aspen’s core and the Roaring Fork River. This exclusive property offers the highest level of finishes including a stone fireplace in the living room, reclaimed hardwood floors, custom cabinets and marble countertops throughout. The gourmet kitchen is suitable for family gatherings or will entice a private chef for any soiree. The terrace patio is equipped with a built-in grill and enjoys views of Red Mountain.” 2011 Taxes: $5,759; HOA Dues: $3,149 Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 12/07/2012; Sold Date: 12/28/2012. (Photos and broker comments courtesy of Joshua & Co.)

MLS #128207 – Aspen, East Aspen, residential income property, 925 King Street 935, 902, 932, Aspen, CO: Sold Price: $5,000,000/$1,666 sq ft. More details below photos.

MLS #128207 – Aspen, East Aspen, residential income property, 925 King Street 935, 902, 932, Aspen, CO: Sold Price: $5,000,000/$1,666 sq ft; Asking Price: $5,000,000. (Original Price: $5,000 and 142 days on the market since 08/14/2012.) This is a 1965 built, 8 bedroom/6 bath/3 half bath, 3,000 sq ft residential income property with 3 units on 34 acres. Broker comments are, ” Incredible Redevelopment Opportunity in Aspen. Incredible Views of Aspen Mtn. Few Mins walking to Downtown. 3/4 Acre, R-15.” 2011 Taxes: $7,870. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contact Date: 12/31/2012; Sold Date: 12/31/2012. (Photos and broker comments courtesy of Rothberg & Steiner Real Estate.)

MLS #122110 – Snowmass Village, Country Club Homes townhouse, 24 Harleston Green 46, Snowmass Village, CO: Sold Price: $1,000,000/$512 sq ft partially furnished. More details below photos.

MLS #122110 – Snowmass Village, Country Club Homes townhouse, 24 Harleston Green 46, Snowmass Village, CO: Sold Price: $1,000,000/$512 sq ft partially furnished; Asking Price: $1,285,000. (Original Price: $1,950,000 and 1,528 days on the market since 07/31/2007.) This is a 1982 built, 3 bedroom/3 bath, 1,950 sq ft townhouse with 1 car garage. Broker comments are, “This two bedroom plus den/bedroom, plus loft townhome has three full baths. South facing orientation provides ski mountain and golf course views along with morning sun from the living space and outdoor deck. Priced to sell. Exterior of building was upgraded in 2010, looks like new construction. Call Listing Broker with regard to the loft space. Single car garage.” 2011 Taxes: $3,983; HOA Dues: $1,838 Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 12/05/2012; Sold Date: 12/27/2012. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s.)

MLS #124144 – Aspen, Central Core, Aspen Townsite commercial, 500 E. Cooper Avenue, Aspen, CO: Sold Price: $17,250,000/$1,778 sq ft. More details below photos.

MLS #124144 – Aspen, Central Core, Aspen Townsite commercial, 500 E. Cooper Avenue, Aspen, CO: Sold Price: $17,250,000/$1,778 sq ft; Asking Price: $18,400,000. (Original Price: $21,000,000 and 330 days on the market since 02/02/2012.) This is a 1986 built, 9,698 sq ft commercial building. Broker comments are, “110% location investment building with prime retail and office spaces. Corner of Cooper Avenue & Galena Street in the middle of Aspen’s downtown commercial core. Fully leased. Tenants are Loro Piana, Paradise Bakery, PE 101, Capital Technologies, Brooke Peterson and Eagle Owl. Rare opportunity for an investor to own a stellar income property in downtown Aspen with excellent tenants, great cash flow and potential for upside.” 2011 Taxes: $74,597. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 11/20/2012; Sold Date: 12/28/2012. (Photos and broker comments courtesy of Setterfield & Bright.)

MLS #127875 – Aspen, Central Core, Aspen Townsite commercial, 407 E. Hyman Avenue, Aspen, CO: Sold Price: $3,225,600/$903 sq ft. More details below photos.

MLS #127875 – Aspen, Central Core, Aspen Townsite commercial, 407 E. Hyman Avenue, Aspen, CO: Sold Price: $3,225,600/$903 sq ft; Asking Price: $3,500,000. (Original Price: $5,500,000 and 1,940 days on the market since 09/15/2008). This is a 1973 built, 3,569 sq ft, 2 unit, fully leased commercial building. Broker comments are, “Very prime retail building on Hyman Avenue Mall. The street-level tenant is ”Aspen T-Shirt Co” leased through Nov 2020. The 2nd floor space is leased to ”Noori’s Collection” through Oct 2021. Both leases have ”kickout clauses” allowing a new buyer of the Building to terminate the leases early if desired. This is a rare opportunity to acquire a prime downtown CC income property with great long-term tenants (or no). 2011 Taxes: $23,909. City of Aspen RETT Transfer Tax of 1.5% payable by buyer. Under Contract Date: 12/02/2012; Sold Date: 12/28/2012. (Photo and broker comments courtesy of Setterfield & Bright.)

MLS #118550 – Aspen, Central Core, Aspen Townsite commercial, 434 E. Cooper Avenue, Aspen, CO: Sold Price: $22,000,000/$1,297 sq ft. More details below photos.

MLS #118550 – Aspen, Central Core, Aspen Townsite commercial, 434 E. Cooper Avenue, Aspen, CO: Sold Price: $22,000,000/$1,297 sq ft; Asking Price: $27,000,000. (Original Price: $30,000,000 and 802 days on the market since 10/18/2010.) This is a 1965 built, 16,954 sq ft commercial building. Broker comments are, “100% A+ location commercial building with many possibilities. Tenants include Kemosabe, Sports Center, Keating Gallery, Ryno’s, Le Tub, Ravenheart Gallery, Super Relax Spa and office tenants.” 2011 Taxes: $119,411. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 08/16/2012; Sold Date: 12/28/2012. (Photos and broker comments courtesy of Karen Setterfield.)

MLS #126506 – Snowmass Village, Wildridge single family home, 221 Lemond Place Snowmass Village, CO: Sold Price: $1,350,000/$505 sq ft furnished. More details below photos.

MLS #126506 – Snowmass Village, Wildridge single family home, 221 Lemond Place Snowmass Village, CO: Sold Price: $1,350,000/$505 sq ft furnished; Asking Price: $1,495,000. (Original Price: $2,590,000 and 528 days on the market since 07/16/2008.) This is a 1978 built/2006 remodeled, 4 bedroom/3 bath, 2,673 sq ft single family home with 2 car garage on 0.51 acres. Broker comments are, ” South facing 1/2 acre corner lot with outstanding Snowmass ski area views. Rejuvenated family home with 4 bedrooms, 3 baths, and a quiet kids TV room. Home has a vaulted living room ceiling, wood burning fireplace, hardwood floors, and a new kitchen. There’s even an attached dog run to the heated 2-car garage.” 2011 Taxes: $4,079; HOA Dues: TBD. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 11/23/2012; Sold Date: 12/27/2012. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s.)

MLS #123169 – Snowmass Village, Meadow Ranch single family home, 350 Meadow C-4, Snowmass Village, CO: Sold Price: $1,215,000/$491 sq ft furnished. More details below photos.

MLS #123169 – Snowmass Village, Meadow Ranch single family home, 350 Meadow C-4, Snowmass Village, CO: Sold Price: $1,215,000/$491 sq ft furnished; Asking Price: $1,295,000. (Original Price: $1,580,000 and 416 days on the market since 11/01/2011.) This is a 1996 built, 3 bedroom/2 bath/1 half bath, 2,381 sq ft single family home with 2 car garage. Broker comments are, “Lovely Single family home with privacy and front row views looking over the Snowmass Club golf course. The Large 2 car garage, soaring ceilings in the Great room as well as the oversized Master and two spacious decks for outdoor living make this three bedroom special. The shuttle to skiing and the access to the Snowmass trail system are steps away from your front door. Perfect as a getaway vacation spot or a full time residence.” 2011 Taxes: $4,967; HOA Dues: $1,425 Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 10/22/2012; Sold Date: 12/21/2012. (Photos and broker comments courtesy of Carol Dopkin R.E.)

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Disclaimer: The statements made in The Estin Report and on Tim Estin’s blog represent the opinions of the author and should not be relied upon exclusively to make real estate decisions. A potential buyer and/or seller is advised to make an independent investigation of the market and of each property before deciding to purchase or to sell. To the extent the statements made herein report facts or conclusions taken from other sources, the information is believed by the author to be reliable, however, the author makes no guarantee concerning the accuracy of the facts and conclusions reported herein. Information concerning particular real estate opportunities can be requested from Tim Estin at 970.920.7387 or Email him. The Estin Report is copyrighted 2013 and all rights reserved. Use is permitted subject to the following attribution: “The Estin Report: State of the Aspen Real Estate Market, By Tim Estin, mba, gri, broker.”

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