Posted on April 4, 2018 by Chris Klug
Aspen Snowmass Sotheby's has been compiling exclusive data on the buyers we represent. I am excited to share the report from our company's research. The report will show you what their primary use of the property will be and what state they come from. Click here to view the full report.Disclaimer: The data shown here is derived from the Aspen Snowmass Sotheby’s International Realty Post-Closing Survey, an optional survey our brokers have been filling out upon closing since December 2016. The data shown here does not represent all closings in the MLS, only those within Aspen Snowmass Sotheby’s International Realty and furthermore, not all closings within our company. The information provided by the brokers does not disclose any personal information about our clients; just the demographics the broker may be aware of.
Posted on February 15, 2018 by Chris Klug
I am proud to present Aspen Snowmass Sotheby's International Realty's 2017 year-end Resort Report! Our luxury resort market provides an unique aspect to the real estate world. The report compiles data from 12 prominent resort communities throughout the western half of the United States in order to provide pertinent market information regarding the overall housing market in each area to help consumers make informed buying and selling decisions. Check out the Full Aspen Snowmass Sotheby's Resort Report Here.
Posted on December 8, 2017 by Chris Klug
Klug Properties is thrilled that our SnowmassRanch.com video at 6401 E Sopris Creek Road is featured on the New York Times home page! Check out the NY Times Link Here!
Posted on February 5, 2016 by Chris Klug
Snowmass Village Condo Analysis February 4, 2016
I have been busy the past weeks with a lot of Snowmass Village condo activity. I think it’s such a great value today that I’m building a new single-family home there for my family. We’re so excited to be moving to Snowmass. Snowmass has never traded at a bigger discount to Aspen then today. It’s selling for about half the average sold price per sq. ft. of Aspen for all property types. On top of that there is such a strong seasonal and full-time rental demand in the upper Roaring Fork Valley with families looking to get into the Aspen School District with the number on school in the state and #24 in the country, and very little vacancy. Many Aspenites, myself included have been priced out of the Aspen single-family market, yet there are still some great opportunities in Snowmass Village. I know so many young families that have moved to Snowmass in the past year and more that are headed there this year. It’s the place to be!
I feel like everyone is holding their collective breath waiting for some clarity on base village. I believe once the future picture is clearer we will see increased activity and appreciation again. I think there are some incredible real estate opportunities at one of the best family ski/snowboard resorts in the world, not to mention one of the best single-track mountain biking destinations.
Below are some stats that I wanted to share with you from some research I’ve done on behalf of my clients the past week:
- There are 184 actively listed condos in Snowmass Village today at an average list price of $1,239,326 and an average list price per sq. ft. of $790 with 332 average days on market.
- 8 condos are pending sale in Snowmass Village today.
- 94 condos have traded in Snowmass Village the past year at an average sale price of $892,268, 93% sale/list and 355 ADOM
- An almost two year supply of condos exists today in Snowmass Village
- 61 single-family homes are on the market in Snowmass Village today at an average list price of $5,724,918 and an average list price per sq. ft. of $1,134 with 316 average days on market.
- 6 homes are pending sale in Snowmass at an averae list price of $3,813,333 and $910 list price per sq. ft.
- 33 homes sold the past year at an average sold price of $4,170,709, 91% sale/list and $941 sold price per sq. ft.
- There is about a twenty month supply of single-family homes in Snowmass today.
- There are currently 32 actively listed four-bedroom plus Snowmass Village condos on the market at an average list price of $2,598,516 and an average list price per sq. ft. of $978.96 and an ADOM of 298 days.
- 9 four-bedroom + condos have sold in Snowmass Village the past year at an average sale price of $2,725,667, 92% sale/list with an average sold price per sq. ft. of $844 and 399 ADOM.
- 5 ski-in/ski-out four-bedroom condos sold the past year in Snowmass Village at an average sale price of $2,846,200, 91% sale/list and an average sold price per sq. ft. of $863.92 with 481 ADOM.
- There are currently 25 actively listed four-bedroom + Snowmass Village condos on the market today with 1 pending sale, #60, with an average list price of $2,743,688, $1,026 list price per sq. ft. and an ADOM of 298 days.
- The absorption rate for four-bed plus condos in Snowmass Village is 60 months.
I hope this is helpful. Contact me if you'd like more information on Snowmass Village condo and single-family properties. Happy winter season!
Posted on January 20, 2015 by Chris Klug
Winter X Games returns to Aspen this week beginning on Thursday, January 22 - Sunday, January 25! Check out the premier winter action sports athletes, music and festival. Live musical performances at the base of Buttermilk Mountain this week include Chromeo, Snoop Dogg, Skrillex and Wiz Khalifa. I will be supporting the Unified Special Olympics Snowboard Race at Winter X Games on Thursday afternoon, and volunteering this weekend at our Chris Klug Foundation booth promoting organ donation at the Team ESPN Tent. I hope to see you there!
We've already seen five sales over ten million dollars in 2015! The upper end of the Roaring Fork Valley Real Estate Market continues to strengthen, following twenty-six 10-million plus sales last year. The Cooper Street Pier Penthouse at 508 E Cooper Avenue in Aspen closed on January 14, 2015 for $13,200,000, $2,680.75 sold price per sq. ft. Built in 2012 with 360 degree views, this three level, 4,924 sq. ft., four bedroom penthouse is located one block from Gondola Plaza. Another notable sale last week was the 128 acre Cato Ranch in Little Woody Creek, which sold for 23.5 million. Below is a summary of real estate sales for January 12-18, 2015. Happy Winter X Games! I hope to see you at Buttermilk Mountain later this week. Stay tuned here for weekly real estate updates.
Highest Sale: 508 E. Cooper Ave. Sold Price: $13,200,000 List Price: $14,500,000 Sold Price $/SF: $2,680
Lowest Sale: 602 W. Hallam Street
Sold Price: $6,550,000
List Price: $6,999,000
Sold Price $/SF:
Total Sales YTD: 8 sold listings
Avg. List Price $/SF: $1,378.00
Avg. Sold $/SF: $1,235.46
Sold Volume: $54,905,000
Highest Sale: 130 Wood Road Unit 641 Sold Price: $1,950,000 List Price: $1,985,000 Sold Price $/SF: $1,325.63 Lowest Sale: 130 Wood Road Unit 224 Sold Price: $232,000 List Price: $233,000 Sold Price $/SF: $596.40 Total Sales YTD: 3 sold listings Avg. List Price $/SF: $937.17 Avg. Sold $/SF: $928.38 Sold Volume: $3,380,000
Posted on January 16, 2015 by Chris Klug
January 4-10, 2015
Aspen Highest Sale: 864 Moore Drive Aspen, Colorado 81611 Sold Price: $15,000,000 List Price: $17,800,000 Sold Price P/SF: 1,413.09
Lowest Sale: 108 Maple Lane Aspen, Colorado 81611 Sold Price: $507,500 List Price: $599,000 Sold Price P/SF: $541.04 Total Sales: 6 sold listings Avg. List Price P/SF: 1,110.77 Avg. Sold Per. S/F: 957.25 Sold Volume: $35,155,000 Notable Sale: On January 6, I sold 916 Hunter Creek Road Aspen, Colorado for $10,000,00. This is a classic Red Mountain estate, built in 2002 and designed by highly regarded Aspen Architect, Charles Cunniffe. Aspen is off to a very strong start in 2015! Other News: Another Thunderbowl Townhome, unit 73, sold on January 9. Unit 105 is under contract now. Maroon Greens Townhome at Maroon Creek sold for $4,100,000. The sale at 846 Moore Drive for $15,000,000, $1,413 sold price per sq. ft. was a strong number in light of average sold price per sq. ft. of just below $900 in 2014. Check in weekly for my Klug Properties weekly sales summary. I hope this is helpful. Call or email with questions. Have a fun weekend! Happy Gay Ski Weekend in Aspen. Chris Klug
Posted on December 9, 2014 by Chris Klug
This morning we had a great Aspen Snowmass Sotheby's International Realty Aspen office meeting where we discussed the differences between today versus a year ago. Part of our job as Realtors is to help manage downside risk for our clients, interpret market data, and recognize trends in the marketplace. Here are some of the major differences between December 2014 and December 2013:
- Upward price pressure in the downtown core
- Lack of inventory
- Premium for new construction
- Lack of vacant land
- Stronger economy
- Urgency on part of buyers
- Lower priced inventory almost gone
- Less flexibility on the part of sellers
- Bigger discrepancy between Aspen and Snowmass Village
- More activity - transactions are up
- Dramatic price disparity from neighborhood to neighborhood W. End, Red Mtn., downtown core versus W. Aspen and McLain Flats, new versus old
- Never seen the gap between Aspen and Snowmass Village so great
- Asset preservation for older clients; Aspen is a secure environment
- Relative liquidity
- Always a demand for Aspen
- Focus on newer, contemporary product
- Macroeconomic factors - people are making a lot of money in the stock market
- The importance of quality of life and outdoor activities
What does this all mean? I think it spells a strong 2015 ahead. There's a premium being paid for new contemporary product such as OneAspen and Aspen Muse at $3,000 plus sold price per sq. ft. One way to meet demand with inventory declining is to remodel old inventory, upgrading and contemporizing, spending $10,000 to make $50,000. The value of West Aspen and McLain Flats versus the downtown core, Red Mtn., W. End, as well as Aspen versus Snowmass Village. These are where the values are today! They are going to be strong again soon. The pluses of location, more space, big views, and ski-in/ski-out access i.e. Highlands, Maroon Creek, Starwood, and W. Buttermilk. Inventory is underpriced in W. Aspen, Mclain Flats and Snowmass Village compared to W. End, Red Mtn., and the downtown core. I'm gearing up for a busy winter selling season ahead. I anticipate a great 2015 ahead. I study the market every day. Call me anytime to discuss the best values in our market today. Have a great week. Chris Klug