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Crested Butte Real Estate Market Report February 2016

March 10, 2016 By Chris Kopf

Crested Butte Real Estate Market Report February 2016 – Strong Crested Butte Real Estate Market Activity Continues

This Market Update looks at the Crested Butte Real Estate Market for the Month of February 2016 and compares previous years.

Crested Butte CO Real Estate Market

Coming off the heels of a very robust 2015 and with a total of three years of increased volume, transactions we are seeing this trend continue into 2016. Volume and transactions are below the numbers we saw in 2012 and 2013 – but as noted YTD numbers are above the banner years of 2014 and 2015 so even given the backdrop of low oil and gas prices and volatile stock market we still see steady and strong activity.

Crested Butte Real Estate Market Report February 2016The price points for Single Family Homes have been on the rise – primarily because there is a lack of inventory – only 20 homes for sale below $750,000 and of those only 11 in Almont or CB South and only 9 further North in Crested Butte or Mt. Crested Butte area. The majority of these homes are also in need of some remodel or addition. CB South has great values and predominantly a community of wonderful permanent residents, the majority of second homeowners desire homes up valley.

There are a total of 70 Single Family Homes For Sale above $1M, and the largest number (qty. 47) are between $1M – $2M with Avg. Asking Price of $1.45M and Median Asking Price of $1.395M and Avg. $ per sq. ft. of $456. There are 15 homes For Sale between $2M – $3M Avg. Asking Price and and Median Asking Price at $2.5M and Avg. $ per sq. ft. of $636.

The National Association of REALTORS® (NAR) 2015 Investment and Vacation Home Buyers Survey showed approximately 20% of all residential transactions in the US were vacation homes – and Crested Butte offers great values compared with many other resort towns in price points and amenities.

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Luxury Properties Sold in the Crested Butte Area – There were a total of 37 Luxury Homes Sold in the past 12 months in the Crested Butte area. 36 of these were Single Family Homes and one condo sold in West Wall. Of these there were 27 Sold between $1M and $2M with with Avg. Selling Price of $1.25M and Median Selling Price of $1.17M, and Avg. $ per sq. ft. of $432. There were 7 Crested Butte are homes Sold between $2M and $3M with with Avg. Selling Price of $2.4M and Median Selling Price of $2.27M, and Avg. $ per sq. ft. of $514. The four homes sold above $3M had an Average Selling Price of $3.6M and Median Selling Price of $3.7M with an Avg. $ per sq. ft. of $603

Crested Butte Condos & Townhomes – There were a total of 118 Condos Sold in the past 12 months in the Crested Butte area – the majority in Mt. Crested Butte. Of the 118 there were 21 Sold between below $100,000. Of the 80 that were sold between $100,000 and $350,000 the Avg. and Median Selling Price was around $220,000, and Avg. $ per sq. ft. of $218. There were 15 condos sold between $350,000 and $750,000 with Avg. $ per sq. ft. of $347.

There were a total of 24 Townhomes Sold in the past 12 months in the Crested Butte area. The majority of these (qty. 17) were in the $250,000 – $560,000 range with Avg. $ per sq. ft. of $268

What is Selling YTD in the Crested Butte Area

Crested Butte Real Estate Market Report February 2016

What Real Estate is Selling in the Crested Butte area? There were 32 transactions Year to Date the totals by category are Single Family Homes (7), Condos and Townhomes (11) and Lots (14).

Year to date Single Family homes made up 22% of the total volume representing $8.9M. Condos & Townhome made up 34% of the total transactions and 24% of the YTD Volume, while land/lots represents $3.4M in volume, and representing 44% of the transactions year to date.

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UnCrested Butte Real Estate Market Report February 2016der Contract – There are 77 properties Under Contract representing a total volume of $28.6M. Of these properties Under Contract 57 are Condos/Townhomes (22 are in the remodeled Marcellina Apt. Building – The Timbers), 8 are Single Family homes and 12 are lots.

Active Listings – There are currently 601 properties for sale representing $430M.

So Many Crested Butte Adventures – It is said that “Crested Butte is the Last great Colorado Ski Town”. We are a unique place and I continue to work with new Buyers that have just found Crested Butte and say they have “looked everywhere” and Crested Butte is truly special. This area has a lot to offer and I continually find new adventures here that add to my love of Crested Butte. I became a second homeowner in 1999 – and moved to Crested Butte with my wife and three daughters in 2009 and we have embraced the mountain lifestyle, the charm of our town, and the warm community here in Crested Butte.

Crested Butte Fat BikeI am very active and enjoy experiencing new adventures in and around Crested Butte. If you saw the article in my Blog – the newest addition is Fat Biking and a great event was hosted here in Crested Butte – The first ever Fat Bike World Championship race. Fat Biking in Crested Butte is one more thing that adds to the fun for everyone and many local shops offer fat bike rentals. I host an annual Boys Ski Trip and this year in addition to a Snow Cat day we got on Fat Bikes and all had a great time.

Give Back in Crested Butte – Another thing that makes Crested Butte a special place are the efforts of the many non-profits in the Crested Butte area. There are capital campaigns for both the Biery-Witt Center on Mt. Crested Butte and the new facility proposed by The Center for the Arts in Crested Butte. I have donated to both and I hope you will support these two great capital campaigns as well!

Both are great venues that we all will use and will spark economic impact in attracting events and visitors to our valley. I have donated to both, and hope you will support these two great campaigns as well!

See the Full February 2016 Crested Butte Real Estate Market Report

See the Full 2015 Crested Butte Real Estate Market Report – Download full Crested Butte Real Estate Market Report – 2015 Review to see the big picture and all the details of the Crested Butte CO Real Estate Market  – Download Full Report as a .pdf file (more data and charts).

New 3D Walkthrough Home Tour 1060 County Road 12 Crested ButteClick here to see the Crested Butte 3D Walkthrough Home Tours

How can I help you? This Crested Butte Real Estate Market Report – 2015 in Review 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 real estate agents in CB 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

Crested Butte Colorado Real Estatae

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

For more questions regarding Crested Butte Real Estate Market Report – 2015 Review or the Crested Butte Real Estate Market contact:

Thanks,
Chris Kopf

Previews® Property Specialist
Coldwell Banker Bighorn Realty
(970) 209-5405
chriskopf@bighornrealty.com

 

Crested Butte Real Estate Agent

 

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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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