The Jan 2014 Monthly Snapshot full 8-page pdf was posted here Mon. 02/023/14. The Monthly Snapshots are released on or about the 1st Monday of each month on the blog and in Current Reports. The Q4 2013 and Year 2013 State of the Aspen Market report was released in Current Reports on Jan. 27, 2014.
Click image for full Jan. 2014 Market Snapshot pdf
For the combined Aspen and Snowmass Village market, Jan. 2014 was the worst performing month of the past seven years: dollar sales, off 74% from $65M in Jan. 2013 to $17M in Jan. 2014; unit sales were off 53%, from (30) sales in Jan. 2013 to (14) sales in Jan. 2014.
Dec 2013 performed poorly as well, off 60% in dollar sales, from $157M in Dec. 2012 to $63M in Dec. 2013; unit sales were off 31% from (42) sales in Dec 2012 to (29) sales in Dec. 2013.
The Estin report ran the combined Dec 2013 and Jan 2014 numbers and compared them to the same period back to 2010/2011. The results were most notably poor in the Aspen single family home market where unit sales fell 47%, from (19) Aspen home sales in Dec & Jan. 2012/2013 to (10) sales in Dec. & Jan. 2013/2014 and dollar sales declined 80%, from $134M in Dec. & Jan. 2013/2013 to $27M in Dec. & Jan. 2013/2014.
The fall-off in sales in Dec. 2013 from the year before was attributed to the record number of deals that took place in Dec. 2012 motivated by changing tax rules in early 2013. But other than spectacular snow conditions that gave us fantastic skiing over the 2013/2014 Holidays, likely taking priority over Aspen property shopping, it is a puzzle at present why Jan. 2014 faired so poorly as well. Maybe that is enough of a reason…the skiing has been so good, who has time to look at properties? One thing is for sure: everything looks so incredibly beautiful with all the recent snowfall, who would not want to live here ?!
January 2014 Links to sold properties
Aspen Solds Jan. 1 – 31, 2014 (7 properties. Includes Aspen, Brush Cr Village, Woody Creek, Old Snowamss.) This link is valid until 03/05/2014.
Snowmass Village Solds Jan. 1 – 31, 2014 (6 properties. SMV only.) This link is valid for 30 days until 03/05/2014.
Vacant Land Solds Jan. 1 – 31, 2014 (1 property in Old Snowmass/Gateway area.) This link is valid for 30 days until 03/05/2014.
Last week’s sales activity appears 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.
Click charts above for Q4 2013 & Year 2013 State of the Aspen Market (released Jan. 26, 2014).
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.
Closed (4): MLS #s: 132094, 132523, 126434, 132174. This link is valid until 03/02/2014.
Under Contract / Pending (6): MLS #s: 132669/132668, 132399, 127299, 132780, 132781, 132237. This link is valid until 03/02/2014.
Aspen Snowmass Solds Last Week
MLS #132094 – Aspen, West Aspen duplex, Aspen, CO: Sold Price: $1,400,000/$1,152 sq ft. More details below photos.
MLS #132094 – Aspen, West Aspen duplex, Aspen, CO: Sold Price: $1,400,000/$1,152 sq ft; Asking Price: $1,690,000. (Original Price: $1,750,000 and 415 days on the market since 12/12/2012.) This is a 1973 built/2000 remodeled, 6 bedroom/4 bath, 2,542 sq ft duplex on 0.33 acres. Broker comments are, “Duplex with opportunities in a wonderful, family neighborhood in Aspen School District five minutes from schools and downtown Aspen. Non-conforming duplex is cute and completely livable as-is, great deck and ample parking space, with potential to add 250 square foot garage. If redeveloped, new single family home can be built. This lot offers lovely views towards Buttermilk, Aspen Highlands, Shadow Mountain and Red Mountain. Duplex is set back from Cemetery Lane with tree-lined berm, seasonal stream and mature Cottonwood trees surrounding property. Both upper and lower units of duplex are currently rented through Summer 2014. Contact listor for additional information on redevelopment possibilities.” 2012 Taxes: $3,917. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 12/02/2013; Sold Date: 01/31/2014. (Photos and broker comments courtesy of Joshua & Co.)
MLS #132523 – Aspen, Central Core, 119 E. Cooper Avenue 11, Aspen, CO: Sold Price: $340,000/$1,152 sq ft. More details below photos.
MLS #132523 – Aspen, Central Core, 119 E. Cooper Avenue 11, Aspen, CO: Sold Price: $340,000/$1,152 sq ft; Asking Price: $350,000. (Original Price: $350,000 and 21 days on the market since 01/06/2014.) This is a 1969 built, 295 sq ft studio with 1 bath. Broker comments are, “Core studio on 2nd fl with cross ventilation. Completely remodeled with full sized fridge. Murphy bed, bamboo floors, marble bath, granite kitchen, storage locker and bike barn. Bldg exterior newly transformed, new common entry and new roof. Outdoor common spa. 1/2 blk to all buses.” 2012 Taxes: $902; HOA Dues: $845 Qtr. City of Aspen Rett Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/08/2014; Sold Date: 01/24/2014. (Photos and broker comments courtesy of Stirling Peak Properties, LLC.)
MLS #126434 – Snowmass Village, Lichenhearth condo, 150 Carriage Way 37, Snowmass Village, CO: Sold Price: $260,000/$395 sq ft furnished. More details below photos.
MLS #126434 – Snowmass Village, Lichenhearth condo, 150 Carriage Way 37, Snowmass Village, CO: Sold Price: $260,000/$395 sq ft furnished; Asking Price: $279,000. (Original Price: $350,000 and 564 days on the market since 07/13/2012. This is a 658 sq ft, studio with 1 bath. Broker comments are, “Easy walking distance to Base Village, the Treehouse Children Center,Gondola and the ski lifts. Top floor with nice down valley views. Sleeps 6 comfortably, Covered parking is a big plus. Pool and hot tub. Excellent management.” 2012 Taxes: $1,235; HOA Dues: $1,815 Qtr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 12/11/2013; Sold Date: 01/28/2014. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s.)
MLS #132174 – Snowmass Village, Shadowbrook condo, 105 Campground Lane 304, Snowmass Village, CO: Sold Price: $1,200,000/$936 sq ft furnished. More details below photos.
MLS #132174 – Snowmass Village, Shadowbrook condo, 105 Campground Lane 304, Snowmass Village, CO: Sold Price: $1,200,000/$936 sq ft furnished; Asking Price: $1,295,000. (Original Price: $1,295,000 and 80 days on the market since 11/19/2013.) This is a 1968 built, 3 bedroom/3 bath, 1,281 sq ft condo. Broker comments are, “One of Snowmass’ original ski in and out locations, Shadowbrook on iconic Fanny Hill embodies the best Snowmass Village has to offer. Located half way between the mall and Base Village, Shadowbrook is the best of both worlds. Relax in the year round heated, slopeside pool or hot tub, take in the views from the private deck, or stretch out in front of a cozy fire after a long day’s skiing on Snowmass Mountain – perennially voted in the top three of North America’s preeminent family ski destinations.” 2012 Taxes: $3,274; HOA Dues: $16,066 Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 12/26/2013; Sold Date: 01/30/2014. (Photos and broker comments courtesy of Coldwell Banker Mason Morse.)
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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 970.309-6163 or Email him. The Estin Report is copyrighted 2014 and all rights reserved. Use is permitted subject to the following attribution with link to the source: “The Estin Report on the Aspen real estate market”