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: December 2012 Market Snapshot Aspen Snowmass Real Estate

released Tues. 01/08/13 v5.1

Click image to December 2012 Market Snapshot and Summary in Current Reports

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.

CommentsLast week focused continued emphasis on land sales: (3) McLain Flats/Starwood lots and (2) Historic West End older homes (teardowns) on prime corner lots closed.

Here are December 2012 Aspen Snowmass Market Snapshot 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 (16) MLS #: 118925, 127126, 122769, 127949, 127976, 127978, 127933. This link is valid for 30 days until 02/13/2013. Photos and descriptions of under contracts are not posted unless special circumstances or significance dictate.

Closed (9) MLS #: 128063, 125525, 123369, 128056, 117962, 128291, 128246, 126698, 125245.This link is valid for 30 days until 02/13/2013.

Select Aspen Snowmass Solds Last Week

MLS #128063 – Aspen, West End single family home on large corner lot, 233 W. Hallam Street, Aspen, CO: Sold Price: $4,775,000/$2,175 sq ft unfurnished. More details below photos.

MLS #128063 – Aspen, West End single family home on large corner lot, 233 W. Hallam Street, Aspen, CO: Sold Price: $4,775,000/$2,175 sq ft unfurnished; Asking Price: $4,995,000. (Original Price: $4,995,000 and 196 days on the market since 06/25/2012.) This is a 1886 built, 3 bedroom/2 bath, 2,195 sq ft single family home with 2 car garage on 0.22 acres – a 9.664 sq ft corner lot in the Historic West End. Broker comments are, ” One of the last, large West End corners with Victorian redevelopment and Victorian lot split potential. Halfway between downtown and music tent. Sun, view. Survey and FAR calculations available.” 2011 Taxes: $10,701. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 12/18/2012; Sold Date: 01/04/2013. (Photos and broker comments courtesy of Stirling Peak Properties.)

MLS #128056 – Aspen, West Aspen, Aspen Tennis Club single family home, 227 Pyramid Road, Aspen, CO: Sold Price: $2,400,000/$1,202 sq ft. More details below photos.

MLS #128056 – Aspen, West Aspen, Aspen Tennis Club single family home, 227 Pyramid Road, Aspen, CO: Sold Price: $2,400,000/$1,202 sq ft; Asking Price: $2,900,000. (Original Price: $4,800,000 and 656 days on the market since 06/17/2010.) This is a 1973 built, 3 bedroom/3 bath, 1,996 sq ft single family home on 0.92 acres. Broker comments are, “One of those rare riverside hideaways, yet only 5 minutes to the Hotel Jerome. Beautifully conditioned home in excellent condition. Stairway to riparian area on the Maroon Creek. Cool, charming and private. 4000 sf below grade exemption and 750 sf garage exemption. 4300 sf allowed above grade. See documents for calculations.” 2011 Taxes: $5,937; HOA Dues: TBD. Under Contract Date: 12/18/2012; Sold Date: 01/04/2013. (Photos and broker comments courtesy of Stirling Peak Properties.)

MLS #117962 – Aspen, Red Muntain, Red Mountain Ranch new contemporary single family home, 768 Hunter Creek Road, Aspen, CO: Sold Price: $15,000,000/$1,781 sq ft partially furnished. More details below photos.

MLS #117962 – Aspen, Red Muntain, Red Mountain Ranch new contemporary single family home, 768 Hunter Creek Road, Aspen, CO: Sold Price: $15,000,000/$1,781 sq ft partially furnished; Asking Price: $17,500,000. (Original Price: $21,500,000 and 869 days on the market since 08/23/2010.) This is a 2010 built, 5 bedroom/6 bath/1 half bath, 8,422 single family home with 2 car garage on 0.77 acres. Broker comments are, ” Plaisance is an amazing custom built home with no detail missed located on Red Mountain’s best site. The architect captured the views from every room as if the mountain peaks have been framed. Materials from Italian tile to drystack stone that extends around the entire home and into the interior. Mahogany windows and doors, copper roof, state of the art geothermal. heating, cooling and humidification system are just a few of the details that distinguish this home as one of Aspen’s finest. Hand crafted floating wooden staircase, mahogany lined theater, wine cellar, gym, spa, heated stone terraces, large yard with barbeque area, outside fireplace, and swim-jet pool.” 2011 Taxes: $28,026; HOA Dues: $900 Yr. Under Contract Date: 12/09/2012; Sold Date: 01/08/2013. (Photos and broker comments courtesy of Laura Maggos Properties.)

MLS #125245 – Aspen, West End single family home on corner lot, 431-433 W. Hallam Street, Aspen, CO: Sold Price: $2,550,000/$1,354 sq ft unfurnished. More details below photos.

MLS #125245 – Aspen, West End single family home on corner lot, 431-433 W. Hallam Street, Aspen, CO: Sold Price: $2,550,000/$1,354 sq ft unfurnished; Asking Price: $3,000,000. (Original Price: $3,750,000 and 725 days on the market since 08/04/2010.) This is a 1964 built/1990 remodeled, 6 bedroom/3 bath, 1,882 sq ft single family home on 0.14 acres. Broker comments are, ” Rare West End corner lot, just over 6,000 square feet. Current livable 6 bedroom duplex with excellent rental history and an opportunity to build your dream single family home. Close to Aspen Music Festival, bike trails, hiking and all the skiing you could wish for. Walking distance to downtown, only a few blocks to enjoy your favorite restaurants, nightlife, and music. Seasonal Stream lines the property. You are buying the whole duplex, not just one side. This price is for the entire property. Excellent opportunity to get in the west end on a prime corner.” 2011 Taxes: $9,441. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 11/01/2012; Sold Date: 12/28/2012. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s.)

No Photos in MLS for this Starwood single family home:

MLS #128291 – Aspen, McLain Flats, Starwood single family home, 0673 Johnson Drive, Aspen, CO: Sold Price: $4,500,000/$698 sq ft; Asking Price: $4,500,000. (Original Price: $4,500,000 and 59 days on the market since 09/15/2012.) This is a 1970 built/2001 remodeled, 5 bedroom/5 bath/2 half bath single family home with 3 car garage on 4.8 acres. No broker comments in MLS. 2011 Taxes: $19,979; HOA Dues: $435 Yr. Under Contract Date: 10/11/2012; Sold Date: 11/13/2012.

MLS #125525 – Aspen, McLain Flats, White Horse Springs single family lot, Tbd McLain Flats Road, Aspen, CO: Sold Price: $3,350,000. More details below photos.

MLS #125525 – Aspen, McLain Flats, White Horse Springs single family lot, Tbd McLain Flats Road, Aspen, CO: Sold Price: $3,350,000; Asking Price: $3,900,000. (Original Price: $7,299,000 and 1,960 days on the market since 08/27/2007.) This is a 6.33 acre single family lot in the White Horse Springs subdivision located on McLain Flats. Broker comments are, “Originally $7 Million, Now $3.9 Million and already approved for a 13,250 square foot. This gorgeous FLAT parcel is perfect for your dream home plus caretaker/barn building. It is irrigated from 35 shares of the Salvation Ditch and has the right to tap in to White Horse Springs Water District for domestic water (Tap fee to be paid by Buyer). See documents for survey and additional info.” 2012 Taxes: $31,410. Under Contract Date: 11/21/2012; Sold Date: 01/04/2013. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s.)

MLS #123369 – Aspen, McLain Flats, White Horse Springs single family lot, Tbd McLain Flats Road, Aspen, CO: Sold Price: $1,800,000. More details below photos.

MLS #123369 – Aspen, McLain Flats, White Horse Springs single family lot, Tbd McLain Flats Road, Aspen, CO: Sold Price: $1,800,000; Asking Price: $1,995,000. (Original Price: $3,500,000 and 420 days on the market since 11/18/2011.) This is a 7.91 acre single family lot in the White Horse Springs subdivision located on McLain Flats. Broker comments are, “Fabulous 7.91 acre lot with water rights and panoramic views across the valley to Mt. Daly, Buttermilk, & Aspen Mountain. The gently sloping lot offers an easily accessible building envelope, and plans ready for permitting are available. Development rights are valid through 4/1/14. Just a few minutes from downtown Aspen and Hwy 82.” 2011 Taxes: $21,531. Under Contract Date: 12/21/2012; Sold Date: 01/11/2013. (Photos and broker comments courtesy of Craig Morris.)

MLS #126698 – Snowmass Village, Snowmass Villas townhouse, 4000 Brush Creek Road 18, Snowmass Village, CO: Sold Price: $925,000/$645 sq ft unfurnished. More details below photos.

MLS #126698 – Snowmass Village, Snowmass Villas townhouse, 4000 Brush Creek Road 18, Snowmass Village, CO: Sold Price: $925,000/$645 sq ft unfurnished; Asking Price: $975,000. (Original Price: $1,400,000 and 523 days on the market since 07/02/2010.) This is a 1968 built/2006 remodeled, 3 bedroom/3 bath, 1,434 sq ft townhouse. Broker comments are, “Best unit in the complex. This townhome offers a contemporary décor and a spacious unit for all parties. The main level has the living room as well as the kitchen and dining area. The living room has wall to ceiling windows that highlight the views of the Snowmass golf course. The complex is located steps away from the bus route to the Base Village as well as the Snowmass Mall.” 2011 Taxes: $3,139; HOA Dues: $883 Mo. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 10/25/2012; Sold Date: 01/07/2013. (Photos and broker comments courtesy of Joshua & Co.)

MLS #128246 – Snowmass Village, Viceroy condo, 130 Wood Road 730, Snowmass Village, CO: Sold Price: $500,000/$872 sq ft furnished. More details below photos.

MLS #128246 – Snowmass Village, Viceroy condo, 130 Wood Road 730, Snowmass Village, CO: Sold Price: $500,000/$872 sq ft furnished; Asking Price: $509,000. (Original Price: $509,000 and 26 days on the market since 01/07/2013.) This is a 2010 built, 1 bedroom/1 bath, 573 sq ft condo. Broker comments are, “New Condominium units now available at the world-acclaimed Viceroy. Ski in-Ski-out in Snowmass’ Base Village, there is nothing else like in the Aspen/Snowmass market for wholly-owned condominiums. One time Base Village Metro Fee paid by Buyer of $5,150.” 2011 Taxes: 3,606; HOA Dues: $14,091 Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 01/04/2013; Sold Date: 01/07/2013. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s.)

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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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