Red Lady Realty - Crested Butte, CO

Market Statistics

*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 1/31/19

 

Monthly Market Update






Total Dollar Volume of Sales YTD

Total Dollar Valume Sales YTD vs Total
 

Fourth Quarter 2018 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 the Fourth Quarter 2018 Market recap from Coldwell Banker Mountain Properties Broker Associate, Ross Tunkey:

"Happy New Year from Crested Butte and all of us at Coldwell Banker Mountain Properties!
 
The winter ski season is in full swing, the snow has been exceptional, and Vail Resorts is now at the helm of Crested Butte Mountain Resort.  Vail plans to ring in the new era by replacing the outdated Teocalli chairlift with a new, high-speed four person chairlift this summer.  Exciting news, and surely just the beginning of things to come.  Following several years of a robust and steadily growing market, and in light of the resort’s new ownership, more than ever people are asking, “How is the market?”  
 
Looking back at 2018, the answer is that the market remains strong in the wake of a banner 2017, with a slight uptick in total combined residential and land transactions.  While total number of residential sales was about equal to 2017, we did see several record sale prices set in 2018, the highest of which was an unprecedented $3.85M for a 4,200 square foot luxury home in the Town of Crested Butte.
 
For many buyers right now, the question is whether to buy an existing home or to build new.  The most significant increase in 2018 sales activity was in vacant land, which saw a dramatic 25% increase in total parcels sold.  Not surprising, considering that the average home price in the Crested Butte area is currently over $2M, and buyers can score a readily buildable homesite in neighborhoods like Buckhorn Ranch and Crested Butte South for under $90K.  
 
Sellers of residential properties remain confident and asking prices continue to rise.  The median list price for a single family home is $1.79M, while the median sale price of homes sold in 2018 was $929,000.  Prices for condos and townhomes in Mt. Crested Butte are also on the rise, and supply is limited.  132 units sold in 2018 at a median price of $341,000.  Currently only 61 units are available, with a median list price of $499,000.  
 
Some buyers, when first previewing the area’s offerings, find themselves in a state of sticker shock.  It is understandable, considering that the average asking price-per-square-foot for a single family home in the area is $630/SF and $470/SF for condos and townhomes.  But it is important to remember that Crested Butte is still an exceptional value when compared to other resort areas in Colorado and the mountain west.  Your purchase power here is significantly greater when compared to areas such as Telluride, Breckenridge, Vail and Aspen.  
 
Please contact a Coldwell Banker Mountain Properties broker for additional information on this report or with any questions about the market.  We look forward to helping you make an informed decision in your Crested Butte real estate and lifestyle investment.  
 
Here’s to a happy, healthy and successful 2019."
 

 


 
 

 

Market Update through 11/30/18

 


Market Update




Total Dollar Volume of Sales YTD

Dollar Volume of Sales (Current vs Total)

 
 


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.
 
  1. 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.
  2. This pie chart provides a visual representation of the market share for the total number of transactions YTD.
  3. The first box in the lower left shows the total number of sales YTD in the Upper Valley**.
  4. This box provides you the total dollar volume of sales YTD in the Upper Valley.
  5. The lower right box shows the percentage of list price that properties ultimately sold for in the Upper Valley.
  6. The right hand pie chart shows you the market share split for the total dollar volume sold YTD.
  7. The interesting fact piece lists the residential properties that sold for the highest and lowest prices in the previous month.
  8. 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)