February 2017 Market News
What’s Happening in the Real Estate Market
The market is shifting as inventory continues to decline and demand remains high. Prices are going up and we are experiencing bidding wars and property being put under contract sight unseen. If you have considered selling your Crested Butte property call me for a current market analysis as now is a great time to sell. If you are a Buyer and you see something you like I advise you to make a move on it quickly as to not miss out or get caught in a bidding war. Call me to discuss the current real estate market in-depth.
In January, 18 single family homes and condos were sold for a total of $8,297,501. The majority of homes sold in January were condos, ranging from a one bedroom Grand Lodge condo selling for $89,000 to a beautiful three bedroom, four bath Silver Ridge condo selling for $1,550,000. With lots of folks in town for the ski season, we have been very busy with property showings. Currently, another 33 homes and condos are under contract, representing a listing amount of $21,886,800.
In land sales, a total of seven parcels sold in January. Current land sales represent a wide range from a .33 acre parcel in CB South, which sold for $65,000 to a .31 acre parcel in the Timberland subdivision in Mt. Crested Butte, which sold for $540,000. Currently, another six parcels are under contract with a total listing price of $889,000.