The Crested Butte real estate market is really exhilarating, with properties in some areas reaching ’06/07 values. It is all about supply and demand: Crested Butte property is hot, and low inventory means at times I am seeing properties go under contract with multiple offers as soon as they hit the market. So if you’re looking to preview and purchase a property that interests you, contact me as soon as possible. You can search all Crested Butte inventory by clicking here.
Currently there are 21 single family homes on the market in the town of Crested Butte, one more than in September. There are currently 31 active homes on Mt. Crested Butte, down from 33 previously. Mt. Crested Butte has 72 active condos which is down slightly from September as buyers have been taking advantage of the late summer and fall sales season. The least expensive home in the upper valley is a Crested Butte South home listed at $530,000. Crested Butte South currently has only 7 single family homes on the market.
Residential sales in the upper valley for September ranged from a Mt. Crested Butte Grand Lodge Condo selling for its asking price of $80,000 to a beautiful 6 bedroom, 5.5 bath Skyland home selling for $3,075,000.
Year Over Year Market Comparison
This September 41 single family homes and condos sold representing a total of $31,688,598 in sales volume. In comparison September of 2016 brought 34 sales, representing just $17,308,350 in volume. This is a staggering 83% YOY increase in sales volume, and a reflection of the exciting real estate market that Crested Butte presents.
Year to date 234 single family homes and condos have sold with a total volume of $154,247,873. For the same period last year there were 211 sales representing $110,326,903 in sales volume. A 40% increase in sales volume is definitely something to get enthusiastic about. As we head into October, we currently have 58 homes and condos under contract, representing a listing amount of $45,365,700.
We saw a significant jump in land sales last month as well. A total of 13 parcels sold in September for a total volume of $3,835,900. Land sales year to date totaled 82 transactions with $18,985,699 of volume. Total sales for the same period last year was only $13,339,399. That is a 42% YOY gain. Currently, another 23 parcels are under contract, up from 20 in September, with a total listing volume of $9,747,400.
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