Crested Butte Real Estate Market Report Dec 2018
Crested Butte Real Estate Market Report Dec 2018 – YTD through November 2018
Crested Butte Real Estate Market Remains Strong Winter Ski Season Prediction = Very Strong
2018 YTD through the end of November shows the transactions are up but volume is slightly behind 2017 YTD. The Avg. Sold prices are down for Single Family and Luxury Single Family Homes in all price categories.
This Crested Butte Real Estate Monthly Market Report is a total of 14 pages – Download the Full Market Report HERE
There have been double the number of single family homes sold between $1.5M and $2M YTD. And year to date there have been half the number sold above $2M compared to 2017. There has been only one single family home sold through the end of November above $3M. There is quite a bit of inventory of luxury single family homes on the market. The Crested Butte Real Estate Market has seen nearly six years of steady growth in volume and transactions. I expect this Winter and 2019 to show continued positive results.
Winter Ski Season Anticipation of EPIC Visitors to Crested Butte
There is big anticipation for this Winter and the arrival of EPIC Pass skiers as an additional boost to the Crested Butte Real Estate Market. Some are eager for Vail to make changes. There is always the vocal minority that does not want Vail to change anything! As reported by KBUT it appears that Vail will not be investing any $ in Crested Butte lifts in 2019. Instead they will be closing the Teocalli lift due to its obsolete status. There may be some enhancements to a couple of on-mountain restaurants. I expect Vail is taking a wait and see approach, and hopefully saving the $ for the Teo II ski area expansion.
It is also great to hear that GM Tim Baker has made safety a priority on the mountain. I have seen more yellow jacket guest services people out on the mountain at various spots ensuring there are not out of control high speed skiers or boarders entering the Slow Zones… Unfortunately there were a few ski instructors who were taken out in the last week or so by out of control skiers and boarders.
Crested Butte Real Estate Slow Down Looming?
Nationally there has been some slowdowns in real estate sales in metro areas. Some predict Crested Butte may experience a pull back. I do not see it. I believe there has been a pause due to mortgage rates rising. However, rates are still below 5% (historically this is very cheap money) and rates were at 6% or higher during the previous real estate boom cycle.
The Crested Butte Real Estate market is driven by affluent second homeowner buyers who are looking to buy their mountain dream home. The motivation is to create a lifetime of memories for their family, friends, and clients they share this wonderful place with. I see the trend of buyers continuing as Crested Butte is still is a great value. There are lots of choices in location, quality, and price point of homes here. Call me.
Crested Butte has seen a great start to the snow season. All are hoping we will see that continue, as we need to have a big snow year to replace the water in the reservoirs. The Santa Ski invasion on the mountain is this weekend – hundreds of Santas skiing is really a cool sight and a fun event. Christmas in Crested Butte is a special time. I hope you enjoy your Christmas and Holidays where ever you are. And I hope you get the opportunity to ski here in Crested Butte this winter!
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. 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.
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.
To learn more about how VAIL will affect Crested Butte.
And what might happen to Crested Butte Real Estate prices.
Click here to Download the 14 Page Crested Butte Real Estate Market Report December 2018. And subscribe to my FREE Monthly Newsletter to get more information on this and many other topics.
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This 2018 YTD 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.
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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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