Crested Butte Real Estate Market Report 2022 Outlook

Crested Butte Real Estate Market Report 2022 Outlook and 2021 Review – the end of 2021 capped 18 Months of a Crazy Covid Crested Butte Real Estate Market.

Buyer Demand is still strong, and real estate price points still rising since Crested Butte “re-opened” 18 months ago at the beginning of June 2020 after the Covid shut-down.

Year over year Volume is up 46% finishing at $593M vs $406M in 2020. Total Transactions are up 34% with 659 Properties Sold vs 492 in 2020.

What has caused the up-tick in real estate demand and the supply-demand forces to push Crested Butte Real Estate prices to record levels? I believe two parts to the answer Covid + remote work flexibility and Vail Resorts International. As I have mentioned previously – due to Covid there have been many more people who can and will work remotely in Crested Butte. With an increased emphasis on lifestyle, family and home base many consider their options…

Option 1 – Work in an empty office with a mask on all day. Option 2 – Work remotely at home in suburbia. Option 3 – Work and live in a second home in Crested Butte and enjoy the mountain lifestyle daily (vs. 2-3+ weeks per year of vacation max). If you can live in and work from a remote ski town like Crested Butte the opportunities to enjoy your passions are endless.

Vail Resorts = peace of mind. Being a part of the Vail Resorts and the EPIC Pass has given Crested Butte exposure to many people, and confidence in the operations. CBMR is not immune to the shortage of workers we have seen affecting all businesses. Crested Butte real estate is still a great value compared to other ski resort markets.

How long will this cycle of ascending Crested Butte Real Estate price points last? I believe as long as the world is at peace, the economy and equities markets are strong, and interest rates remain low we will continue to see strong buyer demand. Many economists smarter than me predict the Fed will increase rates, but just slightly to attempt to keep inflation in check – so the mortgage rates are not expected to go above 4% in 2022. Net net: Seller’s Market will remain in play in 2022.

While we see quality homes that appeal to a large group of potential buyers selling above Asking Price, overall average discounts from Asking to Selling are in the 3% range.

Single Family Home Average Sold Price in prior 12 months is $1.9M, Currently Under Contract Average Asking Price is $1.7M.
Condo or TownhomeAverage Sold Price in prior 12 months is $622,000, Currently Under Contract Average Asking Price is $709,000.
Land Average Sold Price in prior 12 months is $512,000, Currently Under Contract Average Asking Price is $520,000 (but Average is skewed with the 176 acre parcel in Mt. Crested Butte at $12M), the Median Asking Price is $862,000. There is such a variety with land that it is very hard to summarize (ie: a homesite at The Reserve on the East River homesite with 2 miles of private pristine fly fishing vs. a downtown Crested Butte fence line lot, vs a parcel in CB South are all very different).

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 for Your home that I routinely prepare for my clients, please contact me.

Thanks,
Chris Kopf

email: Chris.Kopf@CBMP.com
call or text me: (970) 209-5405

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Crested Butte Real Estate Market Report 2021 Results

Volume and Transactions Totals Prior 12 Months

Year over year Total Volume and Transactions are way up

All Single Family Homes Sold by Price Range – Crested Butte Real Estate Market Report Through November 2021

– See additional details for all by viewing Full Crested Butte Market Report

Downtown Crested Butte Single Family Home Sales

There have been 30 Single Family Homes Sold in the past 12 months in Downtown Crested Butte – see more info and the Results for All other Areas in the Full Crested Butte Market Report.

Mt. Crested Butte Single Family Home Sales

There have been 42 Single Family Homes Sold in the past 12 months in Mt. Crested Butte – see more info and the Results for All other Areas in the Full Crested Butte Market Report.

Crested Butte Condos and Townhomes

There have been 249 Condos & Townhomes Sold in the past 12 months in the Crested Butte area.

Crested Butte Area Land

There have been 252 Parcels of Land Sold in the past 12 months in the Crested Butte area.

This Crested Butte Real Estate Market Report is a total of 15 detailed pages – Download Your Copy HERE

How is the Luxury Crested Butte Real Estate Market?
See Breakdown of Single Family Homes Sold by Different Areas, Condos & Townhomes, Land…
What is For Sale… and more!
Get Your Copy of Crested Butte Real Estate Market Report Through October 2021

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Helping You Make Informed Decisions Regarding Crested Butte Real Estate

I produce this monthly Crested Butte Real Estate report to provide You with a high level overview by looking at the patterns and trends.

My goal is 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 for Your home that I routinely prepare for my clients, please contact me.

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

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

This 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. If you are considering buying or selling – I have been in your shoes. My wife and I were second homeowners for 10 years prior to moving our family to Crested Butte full time.

I am consistently among the Top Real estate agents in Crested Butte and among the top 1% of all Coldwell Banker Agents in the world, and I strive to exceed client expectations. Especially now in these crazy post Covid times you need a trusted advisor to help you sort out your next steps. Call or Text me: (970) 209-5405

You May Be Wondering… What is My Home Worth?
Contact me to prepare a detailed Property Valuation Report for you.

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 Chris.Kopf @CBMP.com