JUNE 2018 Crested Butte Real Estate Market Report

 

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Crested Butte Real Estate Market Report – YTD through May 2018

Crested Butte Real Estate Market Remains Strong Summer Season Will be Busy

It is no secret that Crested Butte is a very great place to be in the Summer. We have continued to see Summer visitor counts increase over the past 5 years and this summer is likely to break records – typically measured by the reported Sales Tax Revenues – but can also be indicated by the Water & Sanitation Districts with the average volume per flush calculations  So net net – Real Estate activity in Crested Butte is correlated to visitor count. With the expectation Summers are growing, and with VAIL RESORTS purchasing Crested Butte Ski Resort and the EPIC Pass visitors who will be here this Winter it will be an interesting 12 months

VAIL Buys Crested Butte – Will Crested Butte Real Estate Prices Immediately Skyrocket?

I don’t have a crystal ball – but I don’t think so… Real Estate Prices in Breckenridge did not immediately skyrocket when Vail bought Breckenridge. Real Estate Prices did not immediately skyrocket when Aspen bought Winterpark (KSL purchased Intrawest Ski Corp, KSL is controlled by the Crown family, The Crown family owns Aspen Ski Corp.). I believe long-term we will see price appreciation but not a huge inflection point. It is hard to make predictions – but I predict this time next year we will be looking back at a slight bump in overall price points.

But there Was a HUGE Real Estate Boom when the Muellers took over CBMR – why won’t we see the same?

Yes – and real estate prices were flying high EVERYWHERE back then. Go re-watch the movie “The Big Short”… Money was cheap and if you had a heartbeat you got a loan. Lots of people qualifying for loans they could not afford… but with real estate going up up up… And the Muellers were selling penthouse condos at the Lodge at Mountaineer Square for $1,000 per sq. ft. before a spade hit the dirt… and WestWall, and Wildhorse…. and the fever was rampant… people bought two, three, even four units… they were getting conventional loans then – even though the these condo projects at the base were “CondoTels”… Now you cannot get a similar conventional loan. Working with many affluent clients who could get financing – many do not because it can be a very frustrating process… so money is still cheap, but not easy.

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. 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.

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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How can I help you with Your Crested Butte Co Real Estate Needs?

This 2018 YTD 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.

I have consistently been among the Top Real estate agents in Crested Butte, 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

For questions regarding this Crested Butte Real Estate Market Report or the Crested Butte Real Estate Market in general contact:

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