*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 10/31/17
Third 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 Joe Garcia's take on the market so far for 2017:
"As the leaves change and snow begins to dust the peaks, its time to pause, take a breath, and review the 2017 summer selling season.
It continues to be all green lights in the Crested Butte real estate market with dollar volume and number of transactions at a 10 year high. With over $186.5m in contracts closed through September, sales are up 48% over YTD 2016. The total number of sales are up 20% with 335 closed transactions. Single family home and vacant land sales in Mt. Crested Butte experienced some of the largest increases with number of homes sold up a whopping 77% YTD and vacant land sold up 60%.
Diminished inventory in available condos and homes has increased pricing considerably in all areas of the residential market and spurred a surge in vacant land sales and new construction. Local architects and builders are experiencing activity that hasn’t been seen since the ‘06-’07 days. This increase in building activity coupled with an unprecedented amount of tourist visits has the local economy booming and put smiles on the faces of business owners.
For value plays, there are a few distinct areas gaining the focus of buyers due to the relative proximity to town and lower prices. Larkspur, Buckhorn and the Skyland subdivisions all have properties available that are worth considering. Another trend that has been evident the last couple years is that buyers are favoring a more contemporary or mountain-modern look than the traditional mountain concept of large wooden beams or logs and heavy rock accents.
This market is ever changing and now more than ever requires an experienced professional to help both buyers and sellers in making the right decisions regarding their investments. As the oldest and most established real estate office in Crested Butte, Red Lady Realty has a dedicated and experienced group of agents that are here to help."
Market Update through 9/30/17
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)