Crested Butte Real Estate YTD September 2019
Crested Butte Real Estate YTD September 2019 and Outlook
Crested Butte Real Estate Market Prices Up, Transactions Down – Crested Butte Real Estate YTD September 2019. In nearly all categories of real estate and areas we are seeing prices rise from 2018. There have been significantly fewer transactions compared with previous years – down a whopping 32%, while overall volume is down 4.4%..
It has been a very interesting year in the Crested Butte Real Estate Market. We have seen record prices in downtown Crested Butte. Two luxury homes set new high water marks for Crested Butte – one sold for $3.85M at $1,135 per sq. ft., and recently another sold for $4.46M at $1,259 per sq. Downtown CB sold price points are up 40% from the same period last year. Mt. Crested Butte Single Family home transactions are down 33%, Average Sold Prices are similar to last year, but Asking Price per sq. ft. is over $100 above Sold price per sq. ft.
VOLUME and TRANSACTIONS Crested Butte Real Estate – YTD Through September 2019
All Luxury Single Family Crested Butte Homes – $1M – $1.5M – There have been 20 homes sold YTD, and there are 27 homes for sale in this price range. $1.5M – $2M – There have been 6 homes sold YTD and there are 25 homes for sale in this price range. $2M – $3M – There have been 6 homes sold YTD, and there are 24 homes for sale in this price range. $3M+ There have been 3 homes sold YTD, and there are 26 homes for sale in this price range.
Revealing Crested Butte Real Estate Single Family Home Sales by Price
Inventory levels continue to drop for quality single family homes below $1M as the bell curve shifts to the $1M – $1.5M Range for most quality single family homes. There are a total of 32 Single Family Homes for sale with Average Asking Price of $815,000. There are 12 Townhomes below $1M with Average Asking Price of $635,000. There are 23 two bedroom + Condos in Mt. CB below $500,000.
What Crested Butte Real Estate is Selling?
Condos and Townhomes show a 26% rise in the Average Sold Price for condos, and a 37% drop in transactions. Average price per sq. ft. for all condos and townhomes is $407.
Land – The was a huge jump in Average Land Price Sold of 82% affected by a number of large acre parcels sold. There was a 40% drop in land sales year over year. In the 35 Acre parcel market there are 43 parcels for sale, and only 3 that sold through the end of September – one was a riverfront homesite sold at Wilder on the Taylor for $1.75M.
Vail Crested Butte – What affect has the Vail acquisition had on the Crested Butte Real Estate Market?” It has been approximately one year since the Vail acquisition, and I see the Crested Butte Real Estate trying to sort itself out. There are some sellers anticipating higher price points and many buyers who have had sticker shock wondering if this is a new normal – or if they should wait… Given the gap between prior sold and asking prices, I see the next 12 months that price points will continue to steadily rise. There are great values in Crested Butte compared with other ski resorts. Vail will have a positive long term affect on the quality of on-mountain experience enhancing Crested Butte as a destination, and improved flights into Gunnison.
This Crested Butte Real Estate Monthly Market Report is a total of 14 detailed pages – Download Your Copy of the Full Market Report HERE
How is the Luxury Crested Butte Real Estate Market? See Breakdown of Single Family Homes Sold by Area, Condos & Townhomes, Land, What is For Sale… and more!
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.
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.
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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For questions regarding this Crested Butte Real Estate Market Report or the Crested Butte Real Estate Market in general contact:
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