Many people ask me what are the Top 5 Crested Butte Home Attributes? I work with many Buyers and Sellers and it is interesting to see the homes that are the most appealing to Buyers in the Crested Butte Real Estate Market. It is not always easy to understand the value of Crested Butte Homes for sale and there are many unique subdivisions and developments with a variety of unique homes at many different price points. Just like every home is unique – so are the desires or every Buyer and the motivations of every Seller, but I have found there are some common attributes that affect the Crested Butte Real Estate Market. These attributes seem to be most desirable for buyers, and affect the time a home will be on the market.
Top 5 Crested Butte Home Attributes
#1 Priced to the Crested Butte Real Estate Market
The Crested Butte Real Estate Market (like all markets) is shifting and we are seeing less inventory of single family homes under $1M. The Median Price for a Crested Butte Single Family home for sale is $1.5M.
Some homes may be priced under $1M, but because they need updates to kitchens and baths and other items, the Buyer will consider another $100,000 – $200,000 may be needed, and they if they are able visit the homes in the $1M – $1.2M range as options.
#2 Quality Construction and Finishes
The exterior and interior look and feel of a Crested Butte Home is very important. If the curb appeals is not striking, and the interior feels old and tired, then these homes may sit for a while on the market. Many buyers are eager to add their own touches to a home like this and updating the home can be a rewarding endeavor.
The quality of construction will also dictate how much work will need to be done – there are many old homes in town that were originally miners cabins and one builder I am friends with referred to a very old home he was remodeling as “the house of pain” because at every turn there were surprises…
#3 Layout of Crested Butte Home
The most desirable floor plans seem to be those that have the garage, main living area, and master bedroom on the main level. Four bedrooms are very in addition to a bonus room. The bonus room (or a 5th bedroom) is desirable because it allows separate space for kids to gather and give the adults some quiet time…
The open floor plan in the main living area is nice because it provides the group to gather and interact. The outdoor living space is an extension of the indoor spaces in the summer, and a great gathering benefit to take in the surrounding views.
#4 Proximity to Amenities in Crested Butte area
So many Crested Butte homes for sale have great views (they are everywhere), but proximity to other amenities can be very important.
Location, location, location are very important – and in Crested Butte this may mean proximity to skier access, trail access, river and fly fishing access, or proximity to walk or townie bike to get a cup of coffee, or shopping… It may also be proximity to the Golf Course, awesome views of a favorite mountain, or proximity to the Mountain Express bus for easy access between Crested Butte and Mt. Crested Butte.
Proximity to people may also be a driving factor for some – and homes that are away from the hustle and bustle and in the Crested Butte area there are many homes located in 35 acres developments that offer this.
#5 Value of Crested Butte Home for Sale
Crested Butte as compared with many other ski resort markets still is very affordable and offers great value at all price points. Value is determined by the items above, and the market, including the recent transactions, and the competing inventory – but really between a buyer and seller for each Crested Butte home sold.
Many buyers are looking to purchase a second-home and generate some rental income when they are not using their home, this could help them justify the purchase and cover their carrying costs and provide for funds to do future remodel projects.
I spend a few days in Vail every fall with the other top luxury real estate agent from Coldwell Banker in Colorado and at the end of our conference we tour homes. I am amazed at the price points for that market – they are typically 5x higher than Crested Butte. There are many people who want to be in the Vail area with all the people and glitz and glamour and will pay those prices.
The top price for a single family home sold in Crested Butte was a 7,000 sq. ft. skin-in/ski-out home in Mt. Crested Butte in the Prospect development – this home sold for $4.25M. Yes it would have sold for $20M+ in Vail, more in Aspen…
How can I help you with Your Crested Butte Real Estate Needs?
The Crested Butte area offers a wide variety of properties including ski in/ski out single family homes, ski-in/ski-out condominiums, lake and river frontage properties, golf course property, and true fine mountain homes on acreage. To see featured properties or search the MLS – visit www.ChrisKopf.com.
If you considering Selling your Crested Butte home and are interested in finding out what your existing property is worth – call me. How is the Crested Butte Real Estate Market doing? Click this link to see my monthly Crested Butte Real Estate Market Reports I appreciate the opportunity to earn your business and be your Crested Butte Real Estate Agent.
Contact me at: (970) 209-5405, or chriskopf@bighornrealty.com
Click here to do an advanced search the Crested Butte MLS for properties for sale in the Crested Butte area.
For more information on this home or the Crested Butte Real Estate Market contact:
Chris Kopf
Previews® Property Specialist
Coldwell Banker Bighorn Realty
Phone: (970) 209-5405
email: chriskopf@bighornrealty.com
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