March 2016 Market News
What’s Happening in the Real Estate Market
The Crested Butte real estate market saw similar action to last month and remains steady. In February, a total of ten condos and single family homes were sold for a total of 6,437,500 and two of those properties sold for over $1million. The average reduction off list price was 6.8%. Compared to last month, two more properties were sold in February, but the total sales price for each month was about the same. Currently, another 65 condos and single family homes are Under Contract with a total listing amount of $27,229,925.
In land sales, there were a total of 5 parcels which closed in February for a total of $1,373,000. These sales represented a range of a .36 acre parcel in CB South for $68,000 to a .22 acre parcel on the north end of the town of Crested Butte that sold for $715,000. The average reduction off list price for land in February was 9.8%. Currently, another eleven parcels are under contract, totaling $1,406,500.