• Chris.Kopf@CBMP.com
  • |
  • (970) 209-5405

Crested Butte Real Estate by Chris Kopf

Chris Kopf Coldwell Banker Mountain Properties

  • SEARCH MLS
  • My Listings
  • Areas
    • Crested Butte
    • Mt Crested Butte
    • Gunnison
    • Almont
    • Maps
    • Subdivisions
    • Local Information
    • Colorado
  • Sell Your Home
    • Coldwell Banker Global Luxury
  • Blog
  • About Me
    • Testimonials
    • Giving Back
    • Newsletter Sign-Up
  • Contact
  • Newsletter Sign-Up

Crested Butte Real Estate Market Report October 2017

November 11, 2017 By Chris Kopf

Crested Butte Real Estate Market Report October 2017

Crested Butte Real Estate Market Report – OCTOBER 2017

Has the Crested Butte Market Peaked?

Crested Butte Real Estate Market Report October 2017Crested Butte Real Estate Market Report October 2017. I have been asked by clients whether the Crested Butte Market is “topping out”…?  We continue to see demand on the Buyer side – people have discovered Crested Butte and overall we are still a great value compared with some other well know Mountain Ski Towns. An article in the Wall Street Journal last week talked about the rise in demand for “summer vacation homes” in Ski Towns.  Depending on the property and location we are still approximately 20%+ below the peak price points during the 2006 – 2008 ½ era.  There are some worried about changes in Homeowner Mortgage Tax Deductions (currently 65% of all our single family homes are financed). This may have a slight impact on some buyers but perhaps not when factored with all the other tax changes. I don’t have a crystal ball, and unless there is some major craziness in the world (North Korea, ISIS…) that affects world and national economic backdrop I don’t see a change to our continued and predictable positive market trends.

HomesCrestedButteRealEstate-Oct2017I recently spoke with a peer in Breckenridge/Winterpark area and they have a very limited inventory and seeing higher price points.  We have similar inventory depletion at the lower end of our market (under $1M SF Home and Condos below $450,000), but in general lots of inventory and still great values. As stated previously many buyers are passing on homes that need updating, or circling back around after scouring the inventory of Crested Butte homes for sale realizing that location and views are hard to find, but kitchens and bathrooms can be remodeled. I think the more affluent Winter Skiing demographic will be active in the Crested Butte Real Estate Market – and the lifts start spinning in less than 3 weeks!

SoldCrestedButteRealEstate-Oct2017Crested Butte 2017 Real Estate Demand is Strong

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

2017 YTD results are well above the same period last year and significantly above the prior years. There are over 60 current properties under contract, year to date numbers are up, and demand in the Crested Butte Real Estate Market is strong. YTD numbers show 15% above 2016 in total transactions, and 42% up in total Volume. YTD Single family home prices per square foot are up 2%, Condos and Townhome price per sq. ft. is up 14% year over year.

There were 361 transactions Year to Date compared with 313 for the same period in 2016. This represents a volume of $205M compared with a volume of $145M for the previous year. The majority of these transactions were condos and town homes (qty. 156) with Avg. Sold price of $378,000. Of the 106 single family homes sold YTD the Avg. Sold price was $1,158,000. 41 luxury Single Family homes have sold above $1M with an Avg. Sales Price of $1.86M and Avg. price per sq. ft. of $540.

There have been 96 lots sold YTD (which breaks the record from 2015) with an average sold price of $241,000, and the highest price parcel sold for $1.3M in the Verzuh Ranch annexation. It has been an unusual market for the larger outlying land sales.  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. As mentioned Local architects suggest building costs of $350 to $400 per sq. ft. minimum in Crested Butte area.

Crested Butte Real Estate Market Report October 2017How is the Luxury Crested Butte Real Estate Market?

2017 Year to Date – Through the end of October the overall market of Luxury Single Family homes is very active, and price points show a steady rise. Average Prices of Luxury Crested Butte Single Family Homes is $1.865M Average price per sq. ft. is $539 which is up from the same period in 2016 ($496). Of note Ski-in Ski-out home at 13 Kokanee in Prospect just sold (11/3/17) for $3.365M, $533 per sq. ft. (fully furnished).

Year to date we see nearly 40% of all the single family homes sold are above $1M. There have been 41 Single Family homes sold above $1M which is a significant increase in the number or homes sold for the same period in 2016 (28). 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 96 current Crested Butte Homes for sale with Asking Prices above $1M (6 of these are Under Contract).

There are 9 Single Family homes for sale between $2M and $3M with avg. price per sq. ft. of $636, and 9 also between $2M and $3M with avg. price per sq. ft. of $981. Of the 28 luxury homes above $2M currently there are none under contract. There have been 14 single family homes sold above $2M YTD which is double the 7 sold the same period in 2016), with Average Days on Market of 197. There are 10 Luxury Homes for sale above $4M with Median Asking Price of $4.9M and Average Price Per sq. ft. of $837.

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

CrestedButteRealEstateMarketReport1

How is the Crested Butte Real Estate Market Doing?   – Receive the Full Crested Butte Real Estate Market Report 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 more questions regarding Crested Butte Real Estate Market Report August 2017 or the Crested Butte Real Estate Market contact:

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

 

GlobalLuxury-BIGHORN-Logo+Awards

 

Email, RSS Follow

banner

Contact Chris

Providing Superior service to the Crested Butte real estate market.
(970) 209-5405
Email Chris
Google Maps Link

Free Books

Buying your mountain dream home
This message is only visible to admins.
Problem displaying Facebook posts.
Click to show error
Error: Server configuration issue

Connect with me!


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/
0
0
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.

Full CREN Disclaimer Fair Housing Disclaimer

Equal Housing Opportunity. Equal Opportunity Employer.

Copyright © 2021 Chris Kopf Real Estate, Ltd.