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Chris Kopf Coldwell Banker Mountain Properties

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2017 Crested Butte Real Estate Market Report

January 15, 2018 By Chris Kopf

2017 Crested Butte Real Estate Market Report2017 Crested Butte Real Estate Market Report

Download New 2017 Crested Butte
Real Estate Market Report 

2017 Crested Butte Real Estate Market ReportClick the image above to Download the Full Crested Butte Real Estate Market Report.

Kopf’s New Market Report Format

I hope you like this expanded and more visual Crested Butte Real Estate Market Report format. If you are a regular reader of my market reports you know that I approach these monthly market reports with two goals:

  1. To provide a high level overview by looking at the patterns and trends, and most of all
  2. To help YOU make sense of the numbers so you can make an informed decision.

2017 Crested Butte Real Estate Market ReportAs I say, I hope this report helps you to ”See the Big Picture and All the Details!” If you see a segment of the market that you would like additional help with understanding please contact me. Or if you desire a specific Property Valuation Report that I routinely prepare for my clients, please contact me.

One of the benefits of the Crested Butte Real Estate Market is that it has so many options for Buyers. In addition to the variety of real estate types, there are many options in price point, location and quality. The challenge is that this also makes it hard to look at the overall market and make a broad brush statement about “How the Crested Butte Real Estate Market is doing…?”

In general we are seeing lots of active Buyers in the Market, and we know that Crested Butte is a great value compared to other Colorado Ski Resorts (Telluride $2X, Vail $4X+, Aspen $6X+).

This report covers Crested Butte Single Family Homes/Crested Butte Luxury Homes, Crested Butte Condos, Crested Butte Town Homes and Crested Butte Land. You will also see a of the ”slice” the data by Price Range and by Area for Single Family Homes to provide a more insightful view of the market.

Crested Butte is a Special Place and This Drives Real Estate Sales

It has been an interesting journey for me to be a second homeowner for 10 years – and 8 ½ years as a permanent resident here in Crested Butte.  In addition to the beauty, and recreational opportunities – the special part about Crested Butte to me are the variety of activities, events and the people that make these events fun and exciting.

Mountain High Music Fest Crested Butte

As I am writing this the Mountain High Music Festival is here in Crested Butte. This is a great event because of the many people who contribute their time, effort and money to support this event.

On Wednesday evening I “worked Security” for the VIP event. This is just one of so many events throughout the year that make Crested Butte a special place and in turn drive interest by visitors to get a place of their own in Crested Butte.

If you have a home in Crested Butte, but have not plugged-in to Crested Butte, there are many organizations that have open arms awaiting your help – a win-win way to meet so many great people.

Crested Butte Real Estate Demand Strong in 2017

This Crested Butte Real Estate Market Report looks at the Crested Butte Real Estate Market results for 2017 and compares previous years.

2017 result are in and exceed the previous four years in totaltransactions and volume. The Crested Butte Real Estate Market is active and healthy and in general we see prices increasing.

In 2017 we saw an increase (18%) in the overall number of transactions sold (qty. 437), and a greater increase (36%) in the total volume ($249M).

As I have noted all year – there has been a shift in the inventory and mix of what is selling and a void of inventory at the lower end of the market which tends to skew the numbers.

We are Not seeing an overall double digit
“significant
rise in prices” as some others report…

 

Want some startling statements you won’t see anywhere else…

  • Overall Single Family home prices rose by… only 4.67% when comparing the results of 2016 to 2017.
  • Overall Condo prices rose 20.35% year over year – but this is because of the lower end of the market.  If you compare the results of the Condos sold between $250,000 and $500,000 you see the increase is only 5.81%.  Interesting, read on…

As Joe Friday would say in Dragnet: “Just the facts ma’am.” I do my best to take the time, and effort to understand the Crested Butte Real Estate market. This takes more than a cursory look at the numbers.  In this market report you will find a deeper analysis, and you will see breakdowns by price range, area and type (and this is one of the reasons people trust me and why I am a top real estate agent in Crested Butte). In 2017 there were 36 SF Homes sold below $750,000, now only 16 Active listings in this price range.

How Much for This Crested Butte Home?

Crested Butte CO Real EstateAs you will see in the details of these five pages dedicated to Single Family Homes – the ”market” is segmented by price range and by location. I do provide the overall summary numbers on the last page in this Crested Butte Real Estate report.

The Downtown Crested Butte (CB) area represents the “most expensive” real estate in the Crested Butte area. There are currently 17 homes for Sale in CB with only 3 below $1M (and most would want to remodel them – bringing final $ above $1M). Average Sold Price points rose 11.2% and price per sq. ft. rose 2.6% year over year.

Average Sold Price and Average Price per sq. ft. in Mt. CB both actually fell by approx. 11% when comparing 2017 to 2016 results.

$1.4M is the Average Sold Price in the Skyland area, and this is flat from 2016. Also flat are the Average Sold prices for the homes Sold between $1M – $1.5M (qty. 24) when compared to 2016 results.

CB South has seen a significant increase in Average Sold Price and Price per sq. ft. over the past 3 years.

The past 2 years show a large increase in the number of transactions between $1.5M – $2M (avg. 10) when compared to prior years (avg. 4).

How is the Luxury Crested Butte Real Estate Market?

Most would define a Luxury Home as a price above $1M. In the Crested Butte Real Estate market it doesn’t help to lump all homes over $1M into one category – and again this is why I have broken the data into price ranges.

Luxury Home Transactions are up over previous years. We are seeing the volume of homes sold at the higher price ranges increase, and a lack of inventory of the homes at the lowest price ranges.

Click the image below to Download the Full Crested Butte Real Estate Market Report Now

2017 Crested Butte Real Estate Market Report

How is the Crested Butte Real Estate Market Doing?   – Receive the Full Crested Butte Real Estate Market Report – 14 pages of detail and insight into the Crested Butte Real Estate market — and you will get my FREE Monthly Newsletter emailed to you with the Crested Butte Real Estate Market Reports!

See the big picture and all the details of the Crested Butte CO Real Estate Market  – Download Full CB Real Estate Market Report as a .pdf file (more data and charts)

Chris Kopf Crested Butte Real Estate AgentHow can I help you with Your Crested Butte Co Real Estate Needs?

This 2017 Crested Butte Real Estate Market Report  and the level of detail is representative of what you can expect from me as your Real Estate Agent.

I have consistently been among the Top 5 real estate agents in Crested Butte, and I strive to exceed client expectations.

If you are interested in finding out what your property is worth, or considering me to represent you as a Buyer, I would appreciate the opportunity to earn your business (or that of a friend you think I could help).

Visit www.chriskopf.com. Phone: (970) 209-5405, or chriskopf@bighornrealty.com

Click here to see  Crested Butte 3D Walkthrough Home Tours

Click here to do an advanced search the Crested Butte MLS for properties for sale in the Crested Butte area.

For questions regarding this Crested Butte Real Estate Market Report or the Crested Butte Real Estate Market in general contact:

Thanks,
Chris Kopf
Global Luxury Property Specialist
Coldwell Banker Bighorn Realty
(970) 209-5405
chriskopf@bighornrealty.com

 

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Chris Kopf, Coldwell Banker Mountain Properties
305 6th Street
Crested Butte, CO 81224
  • Chris.Kopf@CBMP.com
  • (970) 209-5405

Testimonials

Bobby Nichols

"The first moment we met Chris, my wife and I knew he was all about what is happening in real estate sales in Crested Butte. He knows his job, the marketplace and the innovative ways to market your home in today's electronic internet space. A real professional that understood us and our needs in handling a very successful sales transaction. "

 
Crested Butte Real Estate by Chris Kopf
2015-02-11T13:45:19-07:00
"The first moment we met Chris, my wife and I knew he was all about what is happening in real estate sales in Crested Butte. He knows his job, the marketplace and the innovative ways to market your home in today's electronic internet space. A real professional that understood us and our needs in handling a very successful sales transaction. "  
https://chriskopf.com/testimonials/bobby-nichols/

Jeff Hollings

Chris is outstanding! We recently bought a second home in Crested Butte and Chris did a great job throughout the whole process. He has a thorough understanding of the market and the benefits and drawbacks of various locations. He was very patient with us as our preferences evolved throughout the search. He gave us valuable information on which to negotiate the purchase. He had great follow-up during the inspection/closing process (when we were not in town) and made sure all of the commitments made by the seller were properly completed.
Crested Butte Real Estate by Chris Kopf
2015-02-11T13:46:48-07:00
Chris is outstanding! We recently bought a second home in Crested Butte and Chris did a great job throughout the whole process. He has a thorough understanding of the market and the benefits and drawbacks of various locations. He was very patient with us as our preferences evolved throughout the search. He gave us valuable information on which to negotiate the purchase. He had great follow-up during the inspection/closing process (when we were not in town) and made sure all of the commitments made by the seller were properly completed.
https://chriskopf.com/testimonials/jeff-hollings/

James Brennan

This was our first experience trying to purchase additional land with hopes of building a home. Chris was tremendously helpful throughout the entire process and his professionalism showed.
Crested Butte Real Estate by Chris Kopf
2014-10-14T17:59:24-06:00
This was our first experience trying to purchase additional land with hopes of building a home. Chris was tremendously helpful throughout the entire process and his professionalism showed.
https://chriskopf.com/testimonials/james-brennan/

Jane Saltzman

Chris was terrific to work with. The house sold faster then I ever expected! He was particularly helpful for this second home owner that couldn't always get there to take care of house issues. Thank you Chris!!!
Crested Butte Real Estate by Chris Kopf
2015-02-11T13:49:37-07:00
Chris was terrific to work with. The house sold faster then I ever expected! He was particularly helpful for this second home owner that couldn't always get there to take care of house issues. Thank you Chris!!!
https://chriskopf.com/testimonials/jane-saltzman/

Georges Lussier

The thought of a short sale was intimidating, but Chris made the experience very easy with lots of guidance from start to finish. I would highly recommend Chris for any Real Estate need buying or selling.
Crested Butte Real Estate by Chris Kopf
2014-10-14T18:05:40-06:00
The thought of a short sale was intimidating, but Chris made the experience very easy with lots of guidance from start to finish. I would highly recommend Chris for any Real Estate need buying or selling.
https://chriskopf.com/testimonials/georges-lussier/

Frank Stringer

Chris Kopf is a wonderful person to work with on any real estate matter you may have in Crested Butte. He is extremely knowledgeable of all elements of the Crested Butte area. He helped us recently to buy a new second home in Skyland and the entire experience was first class under Chris's guidance. I would highly recommend him to anyone who has a real estate need in Crested Butte.
Crested Butte Real Estate by Chris Kopf
2015-02-11T13:51:04-07:00
Chris Kopf is a wonderful person to work with on any real estate matter you may have in Crested Butte. He is extremely knowledgeable of all elements of the Crested Butte area. He helped us recently to buy a new second home in Skyland and the entire experience was first class under Chris's guidance. I would highly recommend him to anyone who has a real estate need in Crested Butte.
https://chriskopf.com/testimonials/frank-stringer/

Paul & Julie Keesee

Chris was quite helpful in showing us homes in the area we were interested in and contacted us when new listings were available. We not only consider him our realtor but also a friend.
Crested Butte Real Estate by Chris Kopf
2014-10-14T18:05:59-06:00
Chris was quite helpful in showing us homes in the area we were interested in and contacted us when new listings were available. We not only consider him our realtor but also a friend.
https://chriskopf.com/testimonials/paul-julie-keesee/

Jim & Sandra Wickham

Chris' patience and persistence paid off for us in finding the right house for the right price. We would highly recommend Chris to any potential buyer.
Crested Butte Real Estate by Chris Kopf
2014-10-14T18:06:18-06:00
Chris' patience and persistence paid off for us in finding the right house for the right price. We would highly recommend Chris to any potential buyer.
https://chriskopf.com/testimonials/jim-sandra-wickham/

Tom & Mary Aton

It was a great experience working with Chris, after showing me what I thought I wanted, he advised me of the pros and cons on the different condos and found one that I am thrilled with.
Crested Butte Real Estate by Chris Kopf
2014-10-14T18:06:31-06:00
It was a great experience working with Chris, after showing me what I thought I wanted, he advised me of the pros and cons on the different condos and found one that I am thrilled with.
https://chriskopf.com/testimonials/tom-mary-aton/

Dan Aquaviva

This agent has a very strong knowledge of the local area. He was very helpful in screening properties for potential purchase.
Crested Butte Real Estate by Chris Kopf
2014-10-14T18:05:26-06:00
This agent has a very strong knowledge of the local area. He was very helpful in screening properties for potential purchase.
https://chriskopf.com/testimonials/dan-aquaviva/
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Crested Butte Real Estate by Chris Kopf

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of Colorado Real Estate Network, Inc. (CREN), © Copyright 2016. All rights reserved. All data deemed reliable but not guaranteed and should be independently verified. This database record is provided subject to “limited license” rights. Duplication or reproduction is prohibited.

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