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Crested Butte Real Estate Market Report November 2017

December 6, 2017 By Chris Kopf

Crested Butte Real Estate Market Report November 2017

Crested Butte Real Estate Market Report November 2017

Crested Butte Real Estate Market Momentum

Crested Butte Real Estate Market Report November 2017Crested Butte Real Estate Market Report November 2017 – demand is strong and 2017 YTD results are significantly above the prior years. YTD numbers show 17% above 2016 in total transactions, and 38% up in total Volume. YTD all Single Family home prices per square foot are flat – but looking at the SF homes between $1.5M – $2.5M shows a 10% increase in Average Price per sq. ft. ($621) over the same period in 2016. Condos and Townhome price per sq. ft. is up 15% year over year.

This Crested Butte Real Estate Market Report looks at the Crested Butte Real Estate Market through the Month of November 2017 and compares previous years.

Crested Butte Real Estate Market Report November 2017There were 401 transactions Year to Date compared with 342 for the same period in 2016 (17% increase). This represents a volume of $228M compared with a volume of $165M for the previous year (38% increase). The majority of these transactions were condos and town homes (qty. 171) with Avg. Sold price of $374,000. Of the 120 single family homes sold 62 were between $750,000 and $1.5M and the Avg. Sold price for all was $1,155,000. A total of 41 luxury Single Family homes have sold above $1M with an Avg. Sales Price of $1.85M and Avg. price per sq. ft. of $525.

There have been 108 lots sold YTD compared with 81 in 2016 and 102 in 2015. Average sold price of $249,000, and the highest price parcel sold for $1.3M in the Verzuh Ranch annexation. There is only one lot in downtown Crested Butte below $900,000 (and only 2 others in Verzuh Annexation at $950,000 each). This is positive for the Crested Butte economy as Land Sales translate into new housing starts and those dollars filter into the community for many years. We have quality local architects and builders in Crested Butte and current building costs of $350 to $400 per sq. ft. are quoted as entry level costs for construction in Crested Butte area. Currently there is a backlog for design and build.

How is the Luxury Crested Butte Real Estate Market?

Crested Butte Real Estate Market Report November 20172017 Year to Date – Through the end of November the overall market of Luxury Single Family homes is very active. Average Prices of Luxury Crested Butte Single Family Homes (all homes sold above $1M) is $1.852M Average price per sq. ft. for these home is $525 which is down the same period in 2016 ($555). Of note Ski-in Ski-out home at 13 Kokanee in Prospect recently sold for $3.365M, $533 per sq. ft. (fully furnished).

Year to date we see nearly 39% of all the single family homes sold are above $1M. There have been 46 Single Family homes sold above $1M which is a significant increase in the number or homes sold for the same period in 2016 (35). As mentioned the bell curve is shifting to above $1M for quality Single Family homes. There will be fewer transactions below $1M, because of the lack of inventory. There are a total of 127 homes for sale, and 93 have Asking Prices above $1M.

Crested Butte Luxury Homes For Sale

There are 11 Single Family homes for sale between $2M and $3M with avg. price per sq. ft. of $515, and 8 also between $2M and $3M with median price per sq. ft. of $839. Of the 28 luxury homes above $2M currently there are two under contract. There have been 15 single family homes sold above $2M YTD with Avg. price per sq. ft. of $675 and Median price per sq. ft. of $637 compared with the 9 sold the same period in 2016), Average Days on Market
of 193. There are 9 Luxury Homes for sale above $4M.

Click below to see the Year to Date Results for Crested Butte Single Family Homes, Crested Butte Condos & Townhomes, Crested Butte Land…

Crested Butte Real Estate Market Report November 2017

How is the Crested Butte Real Estate Market Doing?   – Receive the Full Crested Butte Real Estate Market Report – 9 pages of detail and insight into the Crested Butte Real Estate market — and you will get my FREE Monthly Newsletter emailed to you with the Crested Butte Real Estate Market Reports!

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

Chris Kopf Crested Butte Real Estate AgentHow can I help you with Your Crested Butte Co Real Estate Needs?

This Crested Butte Real Estate Market Report September 2017 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

Click here to see  Crested Butte 3D Walkthrough Home Tours

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

For questions regarding this Crested Butte Real Estate Market Report or the Crested Butte Real Estate Market in general contact:

Thanks,
Chris Kopf
Global Luxury Property Specialist
Coldwell Banker Bighorn Realty
(970) 209-5405
chriskopf@bighornrealty.com

 

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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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