The Estin Report Aspen Snowmass Weekly Real Estate Sales and Statistics: Closed (5) and Under Contract / Pending (14): Feb 10 – 17, 2013

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.

Released Wed. Jan 16, 2013. Click image for summary and full report pdf in Current Reports

The Estin Report: January 2013 Market Snapshot Aspen Snowmass Real Estate

released mid-day Wed.. 02/06/13 v3

Click image to January 2013 Market Snapshot and Summary

Summary Comparison
Jan 2013 versus Jan 2012
(Now vs Then, Year over Year)

Total Aspen Snowmass Market
Monthly Unit Sales*: up 7%, 30 sales now vs 28 then
Year-to-Date Unit Sales: up 7%, 30 sales now vs 28 then
Monthly Dollar Volume: down -23%, $84M now vs $84M then
Year-to-Date Dollar Volume: down -23%, $84M now vs $84M then
Listing Inventory: down -6%, 1,133 properties for sale now vs 1,209 then

Aspen Market
Monthly Unit Sales: down -18%, 18 sales now vs 22 then
Year-to-Date Unit Sales: down -18%, 18 sales now vs 22 then
Monthly Dollar Volume: down -31%, $50M now vs $72M then
Year-to-Date Dollar Volume: down -31%, $50M now vs $72M then
Listing Inventory: down -11%, 553 properties for sale now vs 622 then

Snowmass Village Market
Monthly Unit Sales: up 100%, 12 sales now vs 6 then
Year-to-Date Unit Sales: up 100%, 12 sales now vs 6 then
Monthly Dollar Volume: up 26%, $14M now vs $12M then
Year-to-Date Dollar Volume: up 26%, $14M now vs $12M then
Listing Inventory: down -1%, 304 properties for sale now vs 306 then

* As it is the beginning of the year, monthly and YTD sales will be the same.

Comments

Not much should be inferred from the Jan. numbers. We are coming off the strongest December 2012 sales figures since late 2006/2007. For a clear view of where the market is at present, refer to both the Dec. 2012 Market Snapshot and the Q4 2012 full year report.

Excerpt from Dec. 2012 Snapshot: “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.”

It is interesting to note that Jan. 2013 sales in Snowmass Village are up 100% over the same time last year but this performance is coming off such a low SMV sales base that not much should be suggested other than the definitive positive direction.

Overall, Snowmass continues to struggle … But most importantly, the best value opportunities for Aspen area ski-in/out and in-Aspen-School-District properties are in Snowmass Village.

SMV sold example (see Jan 27 – Feb 3, 13 blog for photos): Brand new 2012 SMV home sold on 01/28/2013 at $2,200,000/$916 sq ft furnished; Ask: $2,325,000. (Orig. $2,200,000 and 682 days on market since 03/18/2011.) This is a 4 bdrm/3 bath/1 3/4 bath, 2,400 sq ft with 2 car garage on .31 acres. It is the newest single family home product on the SMV market today – the Sinclair Meadows subdivision development. Call me for more info.

Active links to sold Jan. 2013 property photos and details:

Aspen Closings (15 solds) Jan 1-31, 2013 This link is valid until 3/7/2013.

Snowmass Closings (12 solds) Jan 1-31, 2013: This link is valid until 3/7/2013.

Vacant lot Closings (3 solds) Jan 1-31, 2013: This link is valid until 3/7/2013.

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.

Under Contract / Pending (14) MLS #: 127835, 128654, 127913, 127834, 128147, 127833, 128653, 128714, 127503, 128161, 128508, 125997, 116510, 121616. This link is valid for 30 days until 03/17/2013. Photos and descriptions of under contracts are not posted unless special circumstances or significance dictate.

Closed (5) MLS #: 22638, 124449, 126594, 127933, 126407. This link is valid for 30 days until 03/17/2013.

Select Aspen Snowmass Solds Last Week

MLS #122638 – Aspen, Smuggler, Hunter Creek condo, 1327 Vine Street #1327, Aspen, CO: Sold Price: $460,000/$724 sq ft furnished. More details below photos.

MLS #122638 – Aspen, Smuggler area, Hunter Creek condo, 1327 Vine Street #1327, Aspen, CO: Sold Price: $460,000/$724 sq ft furnished; Asking Price: $499,000. (Original Price: $560,000 and 528 days on the market since 09/06/2011.) This is a 1980 built/2008 remodeled, 1 bedroom/1 bath, 635 sq ft condo in the Hunter Creek complex which offers pool, tennis, hot tub, almost 24 hr shuttle service into the Aspen core and back.. Broker comments are, “Contemporary and inviting remodel by Rowland & Broughton, voted 2009 Young Firm of the Year, AIA Colorado. This great unit includes built-ins for efficient and spacious living. Bosch & KitchenAid appliances. Cork floors, wood stove, built-in desk and built-in walnut table in the dining area, Caesar stone countertops and ceiling fans in bedroom and living room. Large windows and back deck overlooking grassy knoll with views to Smuggler Mountain. Close to pool, Jacuzzi and tennis courts.” 2011 Taxes: $1,190; HOA Dues: $200 Mo. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/10/2013; Sold Date: 02/11/2013. (Photos and broker comments courtesy of Frias Properties of Aspen.)

MLS #124449 – Aspen, Smuggler area, Hunter Creek condo, 238 Vine Street, Aspen, CO: Sold Price: $445,000/$747 sq ft unfurnished. More details below photos.

MLS #124449 – Aspen, Smuggler area, Hunter Creek condo, 238 Vine Street, Aspen, CO: Sold Price: $445,000/$747 sq ft unfurnished; Asking Price: $475,000. (Original Price: $475,000 and 353 days on the market since 02/27/2012.) This is a 1980 built/2008 remodeled, 1 bedroom/1 bath, 595 sq ft condo in the Hunter Creek complex which offers pool, tennis, hot tub, almost 24 hr shuttle service into the Aspen core and back.. Broker comments are, “You can’t beat the privacy from this top floor newly remodeled corner unit. Fall in love listening to Hunter Creek from the bedroom, living room, kitchen and deck. 2012 upgrades include: new state-of-the-art stainless steel appliances, stone and tile finishes, jetted tub, accent lighting and new trim throughout. Views of the Hunter Creek Valley and Trail are enhanced with the extra living room window only available in some corner units. The wood-burning stove in the winter on chilly evenings, unit location, mountain views and remodel make this an exciting and rare offering. Enjoy the complex’s pool, hot tub the free shuttle to everything Aspen has to offer.” 2011 Taxes: $1,387; HOA Dues: $200 Mo. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/21/2013; Sold Date: 02/14/2013. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s.)

MLS #126594 – Aspen, Central Core, Ajax Mountain condo, 107 Aspen Mountain Road 9, Aspen, CO: Sold Price: $542,500/$722 sq ft unfurnished. More details below photos.

MLS #126594 – Aspen, Central Core, Ajax Mountain condo, 107 Aspen Mountain Road 9 – at the base of Aspen Mountain, Aspen, CO: Sold Price: $542,500/$722 sq ft unfurnished; Asking Price: $575,000. (Original Price: $599,000 and 206 days on the market since 07/25/2012.) This is a 1965, 1 bedroom/1 bath, 751 sq ft condo. Broker comments are, “This one bedroom condo is conveniently located just a half a block from the Little Nell Hotel, one block East of the gondola, and directly behind the Sky Bar. It’s a top floor unit with vaulted ceilings, tons of natural light, new hard wood floors, new soaking tub and steam shower, and dual sided fireplace. Rare ski accessible condo right on Ajax Mountain.” 2011 Taxes: $2,286; HOA Dues: $712 Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/14/2013; Sold Date: 02/04/2013. (Photos and broker comments courtesy of ReMax Premier Properties.)

MLS #127933 – Aspen, West Aspen, 700 W. Hopkins condo, 700 W. Hopkins Avenue 3, Aspen, CO: Sold Price: $625,000/$868 sq ft furnished. More details below photos.

MLS #127933 – Aspen, West Aspen, 700 W. Hopkins condo, 700 W. Hopkins Avenue 3, Aspen, CO: Sold Price: $625,000/$868 sq ft furnished; Asking Price: $675,000. (Original Price: $675,000 and 63 days on the market since 12/07/2012.) This is a 1968 built, 2 bedroom/1 bath, 720 sq ft condo with 1 car garage. Broker comments are, “This 2 bedroom, 1.5 bathroom, 2 level condo has a private deck overlooking a seasonal stream. Cross ventilation, great light, and view of Aspen Mountain are hallmarks of this condo. All utilities are included in the quarterly dues. There is a remodeled bathroom, new entry, stove and a new washer-dryer, disposal and dishwasher. It has a designated car port and is located on the W. Hopkins pedestrian/bike corridor. Flue available for freestandig stove. No dogs.” 2011 Taxes: $1,495; HOA Dues: $1,637 Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/17/2013; Sold Date: 02/07/2013. (Photos and broker comments courtesy of Stirling Peak Properties.)

MLS #126407 – Aspen, Central Core, Independence Square condo, 404 S. Galena Street #310, Aspen, CO: Sold Price: $370,000/$1,222 sq ft furnished. More details below photos.

MLS #126407 – Aspen, Central Core, Independence Square condo, 404 S. Galena Street #310, Aspen, CO: Sold Price: $370,000/$1,222 sq ft furnished; Asking Price: $399,000. (Original Price: $399,000 and 217 days on the market since 07/11/2012.) This is an 1889 built/2009 remodeled, studio with 1 bath, 300 sq ft condo. Broker comments are, “Lovely top floor deluxe unit on the quiet side of the building with views to Independence Pass. Aspen’s historic condominium hotel on the mall. A-1 location two blocks to the gondola. High ceilings, rooftop deck and Jacuzzi, front desk, popular rental. Air-conditioned, pet ok.” 2011 Taxes: $799; HOA Dues: $3,302 Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/25/2013; Sold Date: 02/11/2013. (Photos and broker comments courtesy of Frias Properties of Aspen.)

Tim Estin welcomes your business, inquiries and comments. Email: tim@estinaspen.com or call 970.920.7387. Subscribe to The Estin Report and blog on twitter @EstinAspen by clicking “Join the conversation” button below or click one of the different subscription options in banner at the top of page:

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Aspen Snowmass Real Estate Weekly Market Update Report Closed and Under Contract