July 2014 Market News: Our local real estate market continues to recover from a slow first quarter but has not quite rebounded as of yet. In the Crested Butte area we are down 25% which is a vast improvement over the 50% down in the first quarter. Interestingly the majority of the shortage can be attributed to a lack of sales in the single family home segment in rural Crested Butte. This segment was down over $15mil from last year. Another contributing factor is that high end sales have been slow in the second quarter as can be seen on our significant sales page in our quarterly report below. Our highest sold price to date for 2014 is $1.925mil verses $4.25mil in 2013.
Our market is steadily improving as $6.7mil of single family homes, condos and town homes have sold in July alone. With over $25mil now under contract we are on track to match last year’s performance.
Click here to view our Quarterly Report.