The Crested Butte Collection – April 2014 Edition is now available. Click here to read.
What’s Happening in the Market
Condos and town home sales have ended with 32 closings year to date for a total of $9,791,636. Only five sales short of the same period last year but with a dramatic increase in average (13%), median (10%) and highest (48%) sold prices. Most notable was ski in/ski out Unit 6 at Silver Ridge Condos for $1,487,500, more than double the previous sale in the complex for Unit 2 at $742,500 in November 2013. Another 27 condos and town homes are under contract totaling almost $8.5mil due to close in the 2nd quarter.
Single family homes sales in the upper valley experienced only 14 sales to date with $9,859,900 of volume. This is down significantly from same period last year of 26 sales and over $22 million in volume. I would attribute this to a current lack of single family home inventory and more buyers building their homes as they were unable to find what they were looking for. We do have another 13 homes currently under contract totaling just over $12mil so the 2nd quarter is off to a decent start. I foresee an influx of new listings as well as higher list prices this summer. Click the link below for more detailed statistics for the first quarter.