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The Estin Report: Aspen Snowmass Real Estate Weekly Market Update- Closed (8) and Under Contract (5): Nov. 13 - Nov. 20, 11

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Coldwell Banker Mason Morse Aspen broker Tim Estins complete AspenRealEstateBlog.com is released Monday mornings at his website and at times during the week. These MM postings are condensed. For the latest Aspen real estate news, sales statistics and market activity, follow him on twitter @EstinAspen . He welcomes your business, inquiries and comments. Email him at testin@masonmorse.com or call 970.920.7387.

The Estin Report: 3rd Quarter 2011 (July 1 - Sept. 30, 2011) State of the Aspen Real Estate Market

Click image for executive summary and complete report pdf. Released Oct. 6, 2011

Last Week's Market Highlights Aspen Snowmass real estate weekly sales statistics 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. Because the MLS links below expire after 30 days, photos and written descriptions of select closed properties (primarily those with excellent photography) are posted at my full blog post to attempt to preserve a public archive of sold market activity.

Market Commentary

Lest there be any uncertainty that high end Aspen property sales are falling off amidst sovereign and debt crisis fears, last week there were (2) significant sales at $15M and $16.050M for large 2010 built spec homes (details below). From Jan 1st - Nov 20th this year, Aspen single family home sales above $15MM are well ahead of 2010 (+300%), 8 sales versus 2, and 2009 (+100%) levels, 8 versus 4. In total sales above $7.5M, Aspen single family home sales are +100% over 2010, 32 this year versus 16 last year, and +129% above 2009 sales, 32 versus 14 solds. In addition, there are currently two more Aspen properties under contract at ask prices $8.9M and $10.75M (link is valid for 30 days until 12/20/11). Go to full post for complete comments.

Under Contract / Pending (5): MLS #s 120825, 119280, 122814,119972,120286. This link is valid for 30 days until 12/20/2011. Photos and descriptions of under contracts are not posted unless special circumstances or significance dictate.

Closed (8): MLS #'s 117001, 114243, 117735, 114620, 122556, 114966, 119937, 113416. This link is valid for 30 days until 12/20/2011.

Featured Aspen Sold Properties Last Week:

MLS #117001 - Aspen, Central Core 2010 new single-family home, 24 Little Cloud Trail, Aspen, CO: Sold Price: $16,050,000 /$1,570 sq ft furnished. More details below photos.

MLS #117001 - Aspen, Central Core single-family home, 24 Little Cloud Trail, Aspen, CO: Sold Price: $16,050,000/$1,570 sq ft furnished, -27% off original price; Ask Price: $18,850,000. (Original Price: $22,000,000 and 509 days on the market since 06/22/2010.) This is a 2010 spec built, 6 bedroom/6bath/3 half bath, 10,221 sq ft single family home with 2 car garage. Broker comments are, "Magnificent brand new home offering sweeping views, privacy and impeccable detail and interior design by Donna Guerra. This in-town estate in a small gated enclave is a true legacy property with unbelievable custom details for the most discerning buyer. Extras include library, media room, breakfast room, recreation room, two foyers, elevator, wine/dining room, outdoor sky lounge, 700 additional square feet of storage, terraces, and more." 2010 Taxes: $13,189. Under Contract Date: 10/08/2011; Sold Date: 11/16/2011. (Photos and broker comments courtesy of SDS Real Estate, Inc.)

MLS #114243 - Aspen, new 2010 Red Mountain single-family home, 151 Nighthawk Drive, Aspen, CO: Sold Price: $15,000,000 /$1,401 sq ft furnished. More details below photos.

MLS #114243 - Aspen, new Red Mountain single-family home, 151 Nighthawk Drive, Aspen, CO: Sold Price: $15,000,000 /$1,401 sq ft furnished, -37% off original price; Ask Price: $17,500,000. (Original Price: $23,900,000 and 687 days on the market since 12/29/2009.) This is a 2010 spec built, 5 bedroom/7 bath, 10,702 sq ft single family home with 3 car garage. Broker comments are, "This stunning new residence blends cutting edge design and technology. Massive windows bring views from Independence Pass to Mt. Sopris into every room. The open floor plan is equally suited to intimate dinner parties and large formal gatherings. The home includes a family/media room, wine room, gym with juice bar, and a spa. This home was featured in Architectural Digest." 2010 Taxes: $14,248. Under Contract Date: 10/11/2011; Sold Date: 11/16/2011. (Photos and broker comments courtesy of Frias Properties of Aspen. Buyer represented by Coldwell Banker Mason Morse RE.)

Disclaimer: The statements made in The Estin Report and on Tim Estin's blog represent the opinions of the author not Coldwell Banker Mason Morse. They 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 by email. The Estin Report is copyrighted 2011 and all rights reserved. Use is permitted subject to the following attribution: "The Estin Report: State of the Aspen Market, By Tim Estin, mba, gri, www.EstinAspen.com"

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