*For a description of the data provided in each section of the market update, please scroll down to the "Go-To-Guide"
Market Update through 8/31/17
Market Update through 7/31/17
Second Quarter 2017 Market Report
*To view the market report in full screen, click the square either in the center of the above box or in the lower right hand corner.
Here is Sigrid Cottrell's take on the Crested Butte Real Estate Market through the 2nd Quarter of 2017.
"There’s no doubt as to why Crested Butte is a highly sought-after destination with its beauty, lifestyle, and small town feel that retains a true sense of community. Let’s face it, with the abundance of outdoor activities, pristine backcountry, streams, rivers, waterfalls, trails, peaks, and powerful 360° views, this area is the ultimate playground for adults and children alike.
With that being said, town is as busy as ever, the real estate market is very strong, and we are in the height of our selling season. The market as a whole is up and Mt. Crested Butte is dominating in sales throughout the East River Valley, north of Almont. This is due mainly to the amount of properties available and the versatility of the properties themselves. We have seen an increase in second home owners, especially from the front range, who are looking for their weekend escape. What makes buying a second home even more attractive is the option to leverage the new property with either a short-term or long-term lease.
The absorption rate, or months of supply, for single-family homes in Mt. Crested Butte is approximately 12.3 months and for Crested Butte around 8.7 months. This may sound high, however, for us this number is significantly low. We have a limited supply of properties right now, which is inevitably driving real estate prices up.
Now may be a great time to take advantage of Crested Butte’s upward market swing whether you are a buyer or seller. We at Red Lady Realty look forward to hearing your thoughts and being of service to you now and in the future."
Previous Market Updates:
Here is your Go-To-Guide to understanding our Monthly Market Update Snapshot
The list below corresponds to sections on the nearby image of the Market Update for August.
- This section shows you the average sold price per square foot for comparison between different areas and types of residential properties. The number in parenthesis is the year to date(YTD*) number of transactions for those types/areas.
- This pie chart provides a visual representation of the market share for the total number of transactions YTD.
- The first box in the lower left shows the total number of sales YTD in the Upper Valley**.
- This box provides you the total dollar volume of sales YTD in the Upper Valley.
- The lower right box shows the percentage of list price that properties ultimately sold for in the Upper Valley.
- The right hand pie chart shows you the market share split for the total dollar volume sold YTD.
- The interesting fact piece lists the residential properties that sold for the highest and lowest prices in the previous month.
- This section provides a snapshot of the current market inventory in regards to active and pending listings in the Upper Valley.
**Upper Valley includes: Almont, Crested Butte South, Rural Crested Butte, Crested Butte, Mt. Crested Butte, Rural Mt. Crested Butte, and Kebler.
*YTD= January 1 – Last day of Previous Month
(ex: For August 2016 Market Update: YTD = Jan 1 - July 31)