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Chris Kopf Coldwell Banker Mountain Properties

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Crested Butte Real Estate Market Report March 2014

April 4, 2014 By Chris Kopf

Crested Butte Real Estate Sales VolumeCrested Butte Real Estate Market Report – Year to Date through March 31, 2014 Q1 Sales Slow   As the numbers show there has been a decrease in activity – especially relative to the past two year for the same period.  Total Number of Properties Sold is down 32% over Q1 2013, and Total $ Volume is down 39%.  2014 so far is looking like 2011 and 2010 – except the Inventory levels are down approximately 30% from those years.  Looking at the Monthly Volume March was especially unusual with a total of only $3.8M in volume. The good news is there has been a flurry of activity over the Spring Break weeks – there are 44 properties Under Contract (more than double what we saw in February) representing a volume of $22M. Year to date Single Family homes made up 47% of the total volume representing $7.7M and 10 transactions with an average sales price of $772,000 and median of $558,000.  There were 27 Condos & Townhome transactions YTD and this represented $8.3M in volume and an average sales price of $309,000 and median sales price of $180,000. Crested Butte Luxury Real Estate Market – Properties Sold for $1 Million +,  Previous 12 Months Luxury Crested Butte Homes SoldCrested Butte Luxury MarketWhat Luxury Properties are Selling – Looking back over the past 12 months and the properties that have sold for greater than $1M we see there have been 22 Single Family homes sold, 1 Condo (Silver Ridge – Ski-in/out Condos), and 3 parcels sold (2 in town in the Kapushion area, and one 35 Acre homesite sold in The Reserve).  The total volume is $44.6M – which is roughly 1/3 of all the transactions in the Crested Butte Real Estate Market for this time period. Luxury Homes in Crested Butte that are Selling – The previous 12 months results show that the Average Price for the Luxury Homes  sold in the Crested Butte Real Estate Market was $1.9M, and the Median Price was $1.55M. with similar Average and Median price points for the same period last year. The majority of the distribution of the homes sold was split between Mt. Crested Butte, Crested Butte and the Outlying Areas – or Rural Crested Butte (3 in Skyland, 2 in Glacier Lily, 1 in Trappers Crossing at CB, 1 in Alpine Meadows, and 1 in Buckhorn Ranch). There are a total of 65 Single Family homes For Sale over $1M, with an Average Asking Price of $2.17M and Median Asking Price of $1.6M.  The Average Price per sq. ft. for these homes is $518. Under Contract  There are currently 44 properties Under Contract representing a total volume of $21.9M – this is up from January (34) and February (21) showing a good sign that the start of the year was hopefully nor representative of what is to come.  Of the 44 properties Under Contract 27 are Condos/Townhomes, 10 are Single Family homes and 7 are lots. Active Listings  There are 628 properties For Sale in the Crested Butte Real Estate Market (down from 748 properties For Sale this time last year) representing nearly $440M. Interesting that more than a 1/3 of the total Volume in the Market is made up of luxury Single Family homes ($1M+), representing nearly $141M in total value.

Crested Butte Homes For SaleA Good Winter – As I write this the end of the Ski Season is upon us.  It seems like it went fast this year – probably because there was so much snow, and so many great powder days to ski.  Most businesses are reporting significant increases over 2013 which is great news for the Crested Butte economy.  Perhaps the Real Estate numbers are down a bit because the snow was so good that visitors were focused more on  skiing and less on looking into Crested Butte Real Estate.

There was a positive article in the Wall Street Journal on April 2nd – “Wealth Effect Drives Vacation-Homes Sales” stating that the number of US Second Home sales jumped 30% in 2013 and referenced strong consumer confidence, a rise in the equities market and diversification as key motivators.  While the majority of the US 2nd homeowner market is in the Sunbelt, this is a good trend and will trickle down to our market here in Crested Butte – especially since the majority of our second-homeowners are from HOT states like Texas, Oklahoma, Louisiana… and they enjoy great skiing and seek to escape the heat in the summer and enjoy the beauty of CB.  Many families now “summer” in Crested Butte. While the breadwinner travels to and from the other spouse and kids stay in CB where the kids play little league baseball and soccer and dance (and hike, bike, golf and fish…). How can I help you?  This Crested Butte Real Estate Market Report and the level of detail is representative of what you can expect from me as your Crested Butte Real Estate Agent.  If you are interested in finding out what your existing property is worth – call me. Click these links:

  • To see the Full Crested Butte Real Estate Report – March 2014
  • To see the 7 Page .pdf  Crested Butte Real Estate Market Report – 2013 in Review.

Click here to do an advanced search the MLS for properties for sale in the Crested Butte area.   If you are considering me to represent you as a Buyer, I appreciate the opportunity to earn your business (or that of a friend you think I could help). Thanks, Chris. For more information on the Crested Butte Real Estate Market contact: Chris Kopf Previews® Property Specialist Coldwell Banker Bighorn Realty Phone: (970) 209-5405 email:  chriskopf@bighornrealty.com   Author: Chris Kopf Crested Butte Real Estate   

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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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