JULY 2018 Crested Butte Real Estate Market Report
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Crested Butte Real Estate Market Report – YTD through June 2018
Crested Butte Real Estate Outlook Remains Strong for 2018
I believe we WILL see price appreciation over the long-term because of the value VAIL brings to the sustainability of our Winter Ski Resort Economy – more EPIC Pass skiers will also be potential CB Real Estate Buyers. But I think we will know more a year from now… Looking backward to predict the future has served us well for the previous 5 years as we have seen a subtle appreciation of price points and lack of inventory at the low end of the Market. I admit the future is unclear as we don’t know the impact the VAIL RESORTS purchase of Crested Butte Ski Area will have – all agree we will see prices rise but to what extent is unclear.
Impact of Vail to Buy Crested Butte Mountain Resort
I believe this is a very good thing. As a ski instructor said: “What is not to like – a world class company, who knows how to run a ski resort and has lots of money”. I also believe we will see rising price points long-term. The Vail EPIC Pass will increase the number of visitors in the winter (Crested Butte is still far below the record skier days of the John Norton era), and EPIC will also increase the summer visitor count.
I do not see a big inflection point short-term in real estate prices. As previously stated -looking at history of other acquisitions of Colorado ski resorts, and changed lending practices. We still have cheap money available to Buyers but not easy money – the loan process is not simple and is more scrutinized than the days of the mortgage securities fiasco. Net net I predict this time next year we will be looking back at a slight bump in overall price points.
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. As I say, I hope 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:
Global Luxury Property Specialist
Coldwell Banker Bighorn Realty