Real Estate Market

view of Paradise Divide with snow.

Real Estate Market

The market continues to strengthen as shortage of inventory and high demand put pressure on specific sectors of the market. Lower priced homes and condos moved rather quickly so if you are a buyer and see something you like let me know immediately, as it may go under contract prior to you being able to view it. If you are in the market to sell your Crested Butte property call me for a current market analysis as we have reached ’06/’07 values for some sectors of the market.

Currently there are 20 single family homes on the market in the town of Crested Butte which is one less than in August. There are currently only 33 active homes on Mt. Crested Butte which is down from 39 in August. This may represent a surge in interest of Mt. Crested Butte homes since the town of Crested Butte’s short term rental restrictions were enacted. 18 Aspen Lane, one of the best single family offerings on the mountain, is back on the market as financing fell through for the last buyer. Mt. Crested Butte has 75 active condos which is slightly higher than August as sellers take advantage of higher prices and are more apt to sell. The least expensive home in the upper valley is a Crested Butte Meadows home listed at $549,000. Crested Butte South currently has 12 single family homes on the market, the least expensive offered for $555,000.

For the month of August in the upper valley we had 41 single family homes and condos sales representing a total of $29,133,975 in sales volume compared to only 30 sales and $13,727,330 in volume for the same period last year. An amazing increase for just one year to say the least. Sales in August ranged from a Mt. Crested Butte Grand Lodge Condo selling for $73,000 to the gorgeous seasonal access Double Top Ranch home I had listed, selling for $2,995,000. As we head into September, we currently have 70 homes and condos under contract, representing a listing amount of $57,923,289.

We saw a jump in land sales last month as well. A total of 19 parcels sold in August, up from 13 in July, for a total of $4,459,300. August of 2016 experienced only seven sales with a total of $1,590,750 in volume. Currently, another 20 parcels are under contract with a total listing price of $7,477,900. Land sales are improving dramatically as building continues to increase. Click the link below to view our comprehensive 2nd Quarter Market Report and keep an eye out for our 3rd Quarter Market Report coming next month.