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 10/31/18

 


Market Update




Total Dollar Volume of Sales YTD

Dollar Volume of Sales (Current vs Total)

 
 

Third 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 Third Quarter 2018 Market recap from Coldwell Banker Mountain Properties Broker/Owner, Molly Eldridge:

"September brought two big events to Crested Butte.  On September 6th the merger of Red Lady Realty and Coldwell Banker Bighorn Realty was announced.  These two longtime Crested Butte companies merged to create Coldwell Banker Mountain Properties and are now part of a larger network of mountain resort Coldwell Banker offices.  We are excited about the possibilities and think you will be too!
 
On September 27th Vail’s purchase of Crested Butte Mountain Resorts was finalized.  This purchase means we are a part of the Epic Pass program which gives many more people the choice of skiing here as part of their season pass and those of us who live here have the opportunity to ski elsewhere. 
 
Many people have asked what the Vail purchase will mean for real estate prices.  Based on experiences in towns with other resorts they have purchased, prices should go up.  Although we haven’t seen a dramatic spike in prices yet, we have been on an uptick for about 6 years now.  With discussion of an upcoming US recession and slowdowns in some major markets, my vision is that this purchase will help us maintain this growth or at least have things stay steady rather than dropping.  Only time will tell!
 
This publication has a lot information for you about the overall Crested Butte market as well as specific segments.  While the general public talks about how “crazy” real estate is right now, the reality is that our dollar volume is down over last year through the 3rdquarter.  You will see that the number of transactions is up slightly over last year which indicates that the transactions we are having are lower priced.  This is definitely true because of the increase in land sales and the fact that lower priced condos are selling as soon as they hit the market.  We used to have a lot of residential property options under $300,000 and now it can be challenging to find any for under $400,000. 
 
While our overall market has been improving for several years, sales and prices of vacant land have lagged behind and finally seem to be picking up steam.  There have been 44% more lot sales in 2018 than YTD 2017.  Although there has been an increase in sales, there are still plenty of options to choose from if you are considering purchasing land.  The building industry is booming and we will continue to see that for years to come.
 
As always, please contact a Coldwell Banker Mountain Properties broker to get more information about any numbers you see here or with any questions about the market."
 

 


 
 

 
Market Update through 9/30/18

 

Monthly Market Update






Total Dollar Volume of Sales YTD

Total Dollar Valume Sales YTD 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)