Crested Butte Real Estate Market Report
2018-2019 Ski Season
Crested Butte Real Estate Market Report
2018-2019 Ski Season
Crested Butte Real Estate Market Report 2018-2019 Ski Season and 2019 Outlook
Crested Butte Real Estate Market – Transactions Down
Ski Season = December – April. There were significantly less transactions this Winter than prior Winter ski seasons (97 vs. 146 last year and 125 two years ago). Crested Butte buyer activity was down – perhaps due to the great skiing, and giant piles of snow hiding homes.
Ski Season 2018 – 2019
The past 18 months we have seen the volume and price points up for the “lower end” of the market – but inventory levels continue to drop for single family homes below $1M, Townhomes below $750,000 and Quality Condos below $500,000. If you look at the middle and higher end of the market for Q1, and even all of 2018 you see the price points as flat or down. There were fewer buyers this Winter – and predictions are consistent that this will be an active summer.
The Calm Before the Crested Butte Summer Storm
The Summer season in Crested Butte has been increasingly busy. And why not – CB is a great Summer destination. A super cool ski town that celebrates the summer with great restaurants, shops, nightly events, and being at the end of the valley – easy access to lots of outdoor recreation. The spring run-off will likely flow into late June or early July this year as a result of all the snow! As I write this – I see on my iPhone that there are 4 more snowflake days forecast in the next week… but Summer will be here soon! Dos Rios Golf Course has been open for a couple of weeks, and The Club at Crested Butte is set to open in a week!
The Crested Butte Vail Affect?
The Vail acquisition is good – but we are not seeing the crazy results many predicted in the real estate market. The numbers just don’t show it – yet. We had a lot of front-range EPIC pass skiers this winter that will translate to summer visitors. We will continue to see new EPIC visitors to CB and the numbers always translate into buyers. This summer will be busier than the winter, and expectations are high that there will be more families. It is unlikely that Vail Resorts will be marketing CB in the summer to the EPIC pass holders – and we will have to wait and see what they do to market CB to their EPIC Skier database. Tim Baker has said that they would likely not target market by socio-economic demographics – rather “skier type and ability”. So if a skier has frequently skied black and double black runs at say Whistler – then they will likely be exposed to the extreme skiing opportunity of Crested Butte. But like it or not – the existing Vail and Beavercreek demographic will not be targeted, unless they are extreme skiers.
Crested Butte Real Estate VOLUME and TRANSACTIONS – Ski Season
This Crested Butte Real Estate Monthly Market Report is a total of 16 detailed pages – Download Your Copy of the Full Market Report HERE
Crested Butte Real Estate Single Family Home Sales by Price
Crested Butte Area Single Family Home
This scatter graph shows the distribution of Sold prices for single family Crested Butte homes sold during the Ski Season December – April. We see there is a fairly even distribution of Crested Butte homes sold above and below the $1M line – with one high-end home selling in downtown Crested Butte for $3.85M at $916 per sq. ft.
Crested Butte Area Condo & Town Home
This scatter graph shows the distribution of Sold prices for Crested Butte Condos and Crested Butte Town homes sold during the Ski Season December – April. We see the majority of the transactions were below the $500,00 line – with 7 transactions above $500,000 and 2 high-end transactions above $1M (both were condos in West Wall)
Helping You Make Informed Decisions Regarding Crested Butte Real Estate
I produce this monthly report to provide You with a high level overview by looking at the patterns and trends.
I hope to help YOU make sense of the numbers so you can make informed decision. It is my hope that 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.
This report covers Crested Butte Single Family Homes/Luxury Homes, Crested Butte Condos, Crested Butte Town Homes and Crested Butte Land.
You will also see a ”slice” of the data by Price Range and by Area for Single Family Homes to provide a more insightful view of the market.
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For questions regarding this Crested Butte Real Estate Market Report or the Crested Butte Real Estate Market in general contact:
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