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 8/31/18

 


Market Update




Total Dollar Volume of Sales YTD

Dollar Volume of Sales (Current vs Total)

 

 
Market Update through 7/31/18

 

Monthly Market Update






Total Dollar Volume of Sales YTD

Total Dollar Valume Sales YTD vs Total
 

Second 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 Second Quarter 2018 Market recap from Red Lady Realty Broker, Maggie Dethloff:

"Summer is in full swing in Crested Butte as our visitors are returning earlier and earlier each year to enjoy the quieter days of June.  The real estate market continues to march along at a solid pace. Interestingly enough with almost the same number of transactions as last year, the dollar volume in sales is down approximately 18%.  Due to a lower inventory of single family homes/condos, buyers are purchasing vacant land with the intent to build or simply for investment purposes.  There are still good land opportunities specifically in the Skyland area and 35 acre subdivisions.  While our single family home/condo values have enjoyed a strong recovery, vacant land is still gaining momentum.

Two notable real estate events took place during the second quarter of 2018.  In May, formerly bank owned vacant lots in Buckhorn Ranch were advertised in a ’one day only’ sale.  This “Rocky Mountain Land Sale” brought with it lots of attention for our small town with people flying in from all over to participate.  Not all the inventory was sold that day however 60+ lots went under contract. 

In early June, the big announcement that Vail Associates entered into a contract to purchase Crested Butte Mountain Resort was made and speculation over what that means for our ski area and town began immediately.  To date, the news has sparked “a run” on Grand Lodge condos with 11 units going under contract.  Overall the sale of the resort will have the greatest effect on ski properties including mountain condos, the Prospect Subdivision and ski-in/ski-out homes in Mt. Crested Butte. 

In the coming months as visitors continue to enjoy all that Crested Butte has to offer, the expectation is that real estate sales will remain strong with vacant land leading the way.  Enjoying the precious summer months in Crested Butte is why we are all here.  Whether you’re hiking, biking, watching people from a town bench or enjoying another beautiful sunset, you’ll be reminded why you came here."
 

 


 
 
 


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)