Crested Butte Real Estate Market Report
YTD Through March 2019
Crested Butte Real Estate Market Report YTD March and 2019 Outlook
Crested Butte Real Estate Market Feels Slower – The consensus among the real estate community is that there seems to be a change in the Crested Butte buyer activity. Less activity this year than last year.
Q1 2019 – The numbers show us the volume and price points are up for the “lower end” of the market. There was quite a bit of activity as we have seen inventory levels continue to drop for single family homes below $1M, Townhomes below $750,000 and Quality Condos below $500,000. If you look at the middle and higher end of the market for Q1, and even all of 2018 you see the price points as flat or down.
It is natural that the Vail acquisition would translate into higher asking prices from sellers – but we have not seen buyers with the same enthusiasm (yet). We certainly had a lot of front-range skiers and seemed to be a lot of weekend warriors who were skiing hard. I predict we will continue to see an influx of new visitors to CB and the numbers always translate into buyers. This summer will be busier than the winter, and expectations are high that there will be more families. I still believe the Vail acquisition is good – but it may take a year or more to see tangible results in the real estate market.
Vail is in the last week of their first winter ski season in Crested Butte, and they continue to “discover” what they bought. I invited Tim Baker – VP/GM CBMR to come speak to the Crested Butte Rotary Club and I got the opportunity to talk with him about his thoughts so far and reflect on this winter ski season.
He is very excited to be here. He and his family love Crested Butte and the CB community. He is committed to ensuring the operations are running smooth, and the customer experience is exceptional. He was very disappointed in the Silver Queen lift outage for nearly 5 full days – and said “that just doesn’t happen at a Vail resort… and it will never happen again”. One interesting answer to my question about marketing CB to the EPIC pass holders was that they would likely not target market by socio-economic demographics – rather skier type and ability. So if a skier has frequently skied black and double black runs at say Whistler – then they will likely be exposed to the extreme skiing opportunity of Crested Butte. But like it or not – the existing Vail and Beavercreek demographic will not be targeted.
Crested Butte Real Estate VOLUME and TRANSACTIONS – YTD
This Crested Butte Real Estate Monthly Market Report is a total of 14 pages – Download Your Copy of the Full Market Report HERE
Crested Butte Real Estate Single Family Home Sales by Price – YTD
Helping You Make Informed Decisions Regarding Crested Butte Real Estate
I produce this monthly report to provide You with a high level overview by looking at the patterns and trends.
I hope 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.
This report covers Crested Butte Single Family Homes/Luxury Homes, Crested Butte Condos, Crested Butte Town Homes and Crested Butte Land.
You will also see a ”slice” of the data by Price Range and by Area for Single Family Homes to provide a more insightful view of the market.
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