Crested Butte Real Estate Market Report September 2020
Very Strong Crested Butte Real Estate Market
Crested Butte Real Estate Market Report September 2020 – Summer / Fall Season Coming to an End – There are still beautiful fall colors in the Crested Butte area. The visitor counts were up this summer as Covid drove many people to travel. We saw an increase in people wanting to get out of the city or suburbs and enjoy the wide-open spaces of the mountains. Crested Butte was very busy and most businesses recovered from the Covid shut down from mid-March to end of May. Elk Avenue is just starting to show signs of fewer visitors in town. A subset of all visitors are interested in exploring second-home options, and the activity has been a very strong Crested Butte real estate market. I predict this will continue into the Winter.
Crested Butte is the same great place with minor changes
In 1999 I came to Crested Butte for the first time to ski and fell in love… I was a second homeowner for 10 years. In June of 2009 I moved my family to Crested Butte, and became a real estate agent. People ask me if I still marvel at the beauty of the scenery and all the adventures of the mountains? Yes – perhaps even more so. There are still 2 Million acres of federal land out our back door, and more trails and destinations I find every year I have not yet experienced. There are so many different ways to explore and recreate in this special place. If you draw a circle of 50 Miles and consider all the seasons and activities – there are literally hundreds of trails, streams, rivers, waterfalls, slopes, peaks, views, wildlife, and opportunities to create great memories with family and friends.
People ask me if I think Crested Butte has changed? Change is constant – nothing stays the same. There are new businesses, new ordinances, new people. Is it better or worse? – very subjective, and those who come here and want it to stay the same as the day they arrived are unrealistic. There are three groups of people that make up our community permanent residents (locals), non-permanent residents (second-homeowners), and visitors – we are all important and different, yet drawn together in this special place.
In general, those who partake in the Townie Takeover, The Chainless Bike Race, The Al Johnson Uphill Ski Race, and Vinotok… etc. are very different socio economically than the second-homeowner who belongs to The Club at Crested Butte, and who generously supports many of the local businesses and non-profits in the valley. The visitors who come to Crested Butte also cover the spectrum – some show up on a bus, others via a private jet. I choose to appreciate all of these people. I have become more tolerant of the different viewpoints. Sometimes I don’t agree with many decisions and actions from our local elected officials, but I know that they are doing their best, and I appreciate their efforts. I try to be a glass half full guy, and focus on things I can control, and I applaud those who want to use their time, effort or money to affect change – it is part of our democratic process. Market forces will prevail, and what seems like a big deal today, will melt away and be forgotten in a few years. No place is perfect – but Crested Butte is a very special place that visitors want to visit, and where new real estate buyers want to buy. It would take a lot to totally screw it up – I choose to celebrate what we have.
The Crested Butte Real Estate Market By the Numbers
For the first nine months of 2020 Year over year Count of Properties Sold is up 22% and Volume is up 34%. The month of September Count of Properties Sold is up 184% over last September and Volume is up 232%. Wow! Even more crazy is there are 164 properties Under Contract – this is more than triple the norm for this time of year.
- Average Sold Prices: Single Family homes Sold YTD is $1.33M; Condos and Townhomes is $487,000; Land is $394,000.
- Under Contract Average Asking Prices: Single Family homes $1.6M; Condos and Townhomes is $593,000; Land is $514,000.
- For Sale Average Asking Prices: Single Family homes $2.5M; Condos and Townhomes is $456,000; Land is $634,000.
VOLUME and TRANSACTIONS Crested Butte Real Estate – Year to Date & Prior Years
Overall Volume and Transactions are up year over year in the Crested Butte Real Estate Market.
Crested Butte Real Estate Single Family Home Sales by Price Range – Quartiles
Single Family Crested Butte Homes Sold YTD – Quartiles
Revealing Downtown Crested Butte Single Family Home Sales
There have been 16 Single Family Homes Sold Year to Date with Median Sales Price of $1,675,000, a 12% increase year over year.
Condos and Townhomes
There have been 113 Condos Sold Year to Date with Median Sales Price of $425,000, a 0% increase year over year.
There have been 63 parcels sold Year to Date with an Average Sales Price of $394,000, a -11.7% decrease year over year.
This Crested Butte Real Estate Market Report September 2020 is a total of 14 detailed pages – Download Your Copy HERE
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Helping You Make Informed Decisions Regarding Crested Butte Real Estate
I hope you and your family are safe during these crazy times. I produce this monthly Crested Butte Real Estate APRIL 2020 report to provide You with a high level overview by looking at the patterns and trends.
My goal is to help YOU make sense of the numbers so you can make informed decision. It is my hope that 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.
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How can I help you with Your Crested Butte Co Real Estate Needs?
This 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. If you are considering buying or selling – I have been in your shoes. My wife and I were second homeowners for 10 years prior to moving our family here full time.
I am consistently among the Top Real estate agents in Crested Butte and among the top 1% of all Coldwell Banker Agents in North America, and I strive to exceed client expectations. Especially now in times of fluctuation you need a trusted advisor to help you sort out your next steps. Call or Text me: (970) 209-5405
You May Be Wondering… What is My Home Worth?
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If you are considering me to represent you, I would appreciate the opportunity to earn your business (or that of a friend you think I could help).
For questions regarding this Crested Butte Real Estate Market Report or the Crested Butte Real Estate Market in general contact:
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Coldwell Banker Mountain Properties