Crested Butte Real Estate 2018 Market Outlook

Crested Butte Real Estate 2018 Market Outlook

This Crested Butte Real Estate 2018 Market Outlook is provided by Chris Kopf – Global Luxury Property Specialist, Coldwell Banker Bighorn Realty.

Whether You are a Crested Butte Home Buyer or a Seller – You May be Wondering:

  • How is the Crested Butte Real Estate and Housing Market?
  • Is 2018 a Good Time to Buy or Sell?
  • How Much Does a House Sell For in Crested Butte?
  • What Crested Butte Housing Areas are Hot? (and Why?)
  • What Does $1M, $2M, $3M… Buy in The Crested Butte Real Estate Market?
  • How Much Do Homes Cost in Downtown Crested Butte? In Mt. Crested Butte? In the Skyland Golf Course area?

Get The Facts on the Crested Butte Real Estate Market
and the 2018 Real Estate Market Outlook

Click the image Below to Download the Full 15 Page Crested Butte Real Estate Market Report


Crested Butte Real Estate 2018 Market Outlook
When You Download the 2018 Outlook Full Report you will get Answers to Your questions:

  1. What are the Inventory Levels in Crested Butte
  2. Is it a Buyer or Seller Market?
  3. What Crested Butte Housing Areas are Hot and Why?
  4. What will the future Hold for the Crested Butte Real Estate and Housing Market?
  5. What Are Average Costs per Sq. Ft. of Homes Cost in Downtown Crested Butte?, in Mt. Crested Butte?, In the Skyland Golf Course area?

Download the full Crested Butte Real Estate Market Report Now –  click HERE.

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Here are Some Excerpts from The Report:

Crested Butte Real Estate Outlook is Strong for 2018

Crested Butte Real Estate 2018 Market Outlook

This Crested Butte Real Estate Market Report provides a look into 2018 by reviewing 2017 and comparing previous years.

Crested Butte Real Estate 2018 Market Outlook2018 projections are strong for Crested Butte Real Estate based on the previous years growth. We see total transactions and volume increasing, Buyers are very active, and in general prices are 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.

“I am NOT Reporting
an Overall Double Digit Rise in
Crested Butte Real Estate Home Prices
as Some Others Report…”

.

Want some Crested Butte Real Estate Facts 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 Average Single Family Home Prices in Mt. Crested Butte fell by 11% in 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.

What Crested Butte Homes Will Sell in 2018?

Crested Butte Real Estate 2018 Market Outlook

We can Project What Crested Butte Homes Will Sell in 2018 by looking at What Has Sold. Of the 125 single family homes sold in 2017, there were 73 sold in Mt. Crested Butte or in the Rural Crested Butte area. There were 65 single family homes sold between $750,000 and $1.5M.  The majority of the 187 Condos sold (qty. 64) were Condos sold below $250,000 – now there are only 19 Active Listings in this price range.

How Much Will a Mt. Crested Butte House Sell For?

Crested Butte Real Estate 2018 Market OutlookProjections show a 5% increase in Crested Butte Area Housing prices in 2018. As you will see in the full Crested Butte Real Estate 2018 Market Outlook details the overall market has been rising and should continue to rise. In the Full Outlook Report you will find five pages dedicated to Crested Butte area 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.

Average Prices in Mt. Crested Butte expected to mirror the overall Crested Butte market in 2018 and expect the trend line of price appreciation to return.

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.

How is the Luxury Crested Butte Real Estate Market?

Crested Butte Real Estate 2018 Market OutlookMost 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.

As well there are many homes Sold and For Sale above $1M that have average (or below average) finishes, or lack the extras most consider standard in a luxury home.

Of course a lot of this has to do with location, location, location of the home. As well by comparison – the thought of buying land and building a new home will produce a luxury home, but typically at a significant increase in cost over the prospects of buying an existing home and remodeling it in the Crested Butte market

You can also see relevant details in my book:  The Complete Guide to BUYING Your Mountain Dream HomeQuick and Easy Tips to Help You Purchase Your Vacation Home.

Looking at the Crested Butte Luxury Home Market it is very hard to determine patterns and trends due to the lack of transactions above $2M.

As you will see at the $2.5M price range, I expanded the price range by $1M to allow for more transactions and statistically relevant analysis. That being said we are forced to compare a home that sold for $2.5M to one that sold for say $3.45M – $1M difference in price. They are generally similar in that they are all quality custom homes, but may differ in size, location, quality of design and construction, acreage, or access.

Crested Butte Homes FOR SALE

Crested Butte Real Estate 2018 Market OutlookActive Listings –  There are currently 504 properties For Sale in the Crested Butte Real Estate Market representing $439M.  This is similar to last year, and a slight decrease from prior years inventory levels. The table in my Full Report shows the historic inventory and Under Contract levels a the end of 2017 and prior years.

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So, Click Image Below and Download The Full Report Now!
Crested Butte Real Estate 2018 Market Outlook

 

Crested Butte Real Estate 2018 Market OutlookClick the image above to Download the Full 14 Page Crested Butte Real Estate Market Report, or click HERE.

When You Download the 2018 Outlook Full Report you will also Learn:

  1. How Much Does a Single Family Home Sell For in Downtown Crested Butte, Mt. Crested Butte, Skyland?
  2. Is 2018 a Good Time to Buy or Sell?
  3. What Crested Butte Housing Areas are Hot and Why?
  4. What Does $1M, $2M, $3M… Buy in The Crested Butte Real Estate Market?

In the Report you will see all the Big Picture and all the Details of the Crested Butte Real Estate Market – to get Your Report Now click HERE.

The most common question I get is: “How is the Crested Butte Real Estate Market Doing?”   

Now You can find out  – Download the Full Crested Butte Real Estate Market Report and 2018 Outlook  You will see 14 pages of detail and insight into the Crested Butte Real Estate market.

BONUS

As a Bonus you will get my FREE Crested Butte Newsletter emailed to you once a Month. You will receive an email Newsletter with updates and insights into the Crested Butte Real Estate Market, Videos, Interviews, Articles, and my monthly Crested Butte Real Estate Market Reports!

See the big picture and all the details of the Crested Butte CO Real Estate Market  – Download the Full CB Real Estate Market Report and 2018 Outlook Now

Chris Kopf Crested Butte Real Estate Agent

How can I help you with Your Crested Butte Co Real Estate Needs in 2018?

This Crested Butte Real Estate 2018 Market Outlook 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 me:

Thanks,

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

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Contact Chris

Call or Text: (970) 209-5405

Chris.Kopf@CBMP.com

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