August 2014 Market News

Market Update

August 2014 Market News

Crested Butte Market News: What a difference a month can make. Currently year to date residential sales trail the same period last year by less than $8mil. That’s only 9.6%. A huge improvement over last month’s 25%. Since August 1st three properties have sold over $2mil including two over $3mil. 147 transactions year to date totaling $72,207,375. Median prices are up 16% and averages prices are up 6%. Another 61 properties are under contract totaling $31,962,260.

Land sales are improving slightly as $6,901,500 encompassing 33 transactions have sold in the upper valley year to date. That is still 22% down from the same period last year. Land, historically, is the last sector of the market to recover.

Check out 625 Red Mountain Ranch Road (just lowered $500k, will be the largest home in the county when basement is finished, over 15,000 sq. ft.) and 822 Sopris Avenue (just completed, the finest home on the market in the town of CB) to the right in my listing section.