The Estin Report Aspen Snowmass Weekly Real Estate Market Update: Closed (3) and Under Contract (1): May 6 - 13, 2012

Coldwell Banker Mason Morse Aspen broker Tim Estins complete post on the prior week's Aspen Snowmass property sales is released Monday mornings at his website and at times during the week. The Estin Reports: State of the Aspen Market are available there also. These CBMM postings are condensed. For the latest Aspen real estate news, sales statistics and market activity, follow him on twitter @EstinAspen. He welcomes your inquiries, comments and business. Call 970.920.7387 or email: testin@masonmore.com

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 in the upper Roaring Fork Valley excluding fractionals. Because the MLS links below expire after 30 days, photos and written descriptions of closed properties with excellent photography are posted here to preserve a public archive of sold market activity. For past sales, scroll to page bottom and search by time period.

Market Commentary: April 2012 Monthly Snapshot (link to Charts and Tables). Scroll down page for last week's sales activity.

The Estin Report: Total Aspen* Snowmass Market 2012 Monthly Sales Comparisons

2012 YTD Monthly Comparison Chart and Tables

The Estin Report: Aspen* Snowmass April 2012 Unit Sales, Inventory and Next Months Pending

April 2012 vs April 2011 Comparison

(Now vs Then, Year over Year)

rev. 05/08/12

Total Aspen Snowmass Market

• Unit Sales: down -12%, 30 sales now vs 34 sales then
• Dollar Volume: down -20%, $72M now vs $93M then
• Listing Inventory: down -4%, 1,128 properties for sale now vs 1,178 then
• Year-to-Date Dollar Volume: down -26%, $257M now vs $349M then

Aspen Market

• Unit Sales: down -24%, 16 sales now vs 21 sales then
• Dollar Volume: down -23%, $52M now vs $68M then
• Listing Inventory: down 11%, 550 properties for sale now, 618 then
• Year-to-Date Dollar Volume: -29%, $200M now vs $281M then

Snowmass Market

• Unit Sales: up 8%, 14 sales now vs 13 sales then
• Dollar Volume: down -10%, $20M now vs $22M then
• Listing Inventory: up 3%, 301 properties for sale now, 293 then
• Year-to-Date Dollar Volume: down -15%, $57M now vs $67M then

April 2012 Sold Properties Links (Links to property details and photos are valid for 30 days until June 7, 2012)

• Aspen Sold Properties includes Aspen, Woody Creek and Old Snowmass

• Snowmass Village Sold Properties

The Estin Report: Q1 2012 State of the Aspen Market Published 4/22/12

Click image for executive summary and full report pdf

Last Week's Activity

Under Contract / Pending (1): MLS #: 111493. This link is valid for 30 days until 06/13/2012. Photos and descriptions of under contracts are not posted unless special circumstances or significance dictate.

Closed (3): MLS #: 123040, 124040, 120366. This link is valid for 30 days until 06/13/2012.

Select Aspen Solds Last Week:

MLS #123040 - Aspen, West Aspen duplex, 793 Cemetery Lane, Aspen, CO: Sold Price: $2,100,000/$627 sq ft unfurnished.

More details below photos.MLS #123040 - Aspen, West Aspen duplex, 793 Cemetery Lane, Aspen, CO: Sold Price: $2,100,000/$627 sq ft unfurnished; Asking Price: $2,100,000. (Original Price: $2,500,000 and 206 days on the market since 10/14/2011.) This is a 1991 built, 4 bedroom/3 bath/1 half bath, 3,346 sq ft duplex with 2 car garage. Broker comments are, "This is a Generous half-duplex backing to 15th green on the Aspen Golf Course. Specatcular views look across the golf course toward Buttermilk Mountain. Located just outside the downtown area of Aspen in the desirable residential Cemetery Lane area w/ easy bus access to town/skiing. Clean & well-maintained. Large rooms & vaulted ceilings in main living area make the space feel huge. The kitchen is spacious and has granite counters and a long breakfast island. The main floor master is also oversized and has a steam shower and large walk-in closet. The stucco/stone exterior makes for low maintenance. Fenced back yard w/ wrap-around Trex deck and retractable awning. New heating system. New roof. Large 1 bedroom/1 bath attached apartment is Pitkin County deed restricted employee housing." 2011 Taxes: $4,366. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/12/2012; Sold Date: 05/07/2012. (Photos and broker comments courtesy of Aspen Snowmass Sotheby's.)

MLS #124040 - Aspen, Smuggler area - east Aspen, Ardmore single family home, 89 Ardmore Court, Aspen, CO: Sold Price: $1,500,000/$676 sq ft unfurnished. More details below photos.

MLS #124040 - Aspen, Smuggler area - east Aspen, Ardmore single family home, 89 Ardmore Court, Aspen, CO: Sold Price: $1,500,000/$676 sq ft unfurnished; Asking Price: $1,850,000. (Original Price: $$1,950,000 and 466 days on the market since 06/15/2011.) This is a 1971 built, 4 bedroom/3 bath, 2,218 sq ft single family home with 2 car garage. Broker comments are, "Located in the famous Aspen Groves of Aspen's East Side. Superb access to Smuggler mountain and the East Aspen trail. Walk your dogs to town or let them run in the fenced yard. This house can be divided into two separate living areas for rental income. This house has been well maintained and will serve you as a personal residence, until you desire to take advantage of the development potential. This property is not located within the city limits so it is not subject to the City of Aspen transfer tax or ADU mitigation requirements. See Documents for recent FAR Info." 2011 Taxes: $3,956; HOA Dues: $600 Yr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/26/2012; Sold Date 05/10/2012. (Photos and broker comments courtesy of Aspen Real Estate Co.)

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. Real Estate. 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 testin@masonmorse.com. The Estin Report is copyrighted 2012 and all rights reserved. Use is permitted subject to the following attribution: "The Estin Report: State of the Aspen Market, By Aspen broker Tim Estin, mba, gri."