Crested Butte Homes & Land, Real Estate, Investment Property for Sale
Crested Butte Market Reports, Maps, Listings, Condominiums & Homes for Sale
January 2010 Crested Butte Real Estate Update
We’re smack in the middle of ski season and if you’re not here, skiing in Crested Butte, you should be! The snow is great, all the lifts on Mount Crested Butte are spinning, the runs are groomed – or not – as the case should be, and the sun kisses our smiling faces most days. There are only about 7 weeks left to ski season … make your plans now and visit for a weekend or a week.
We have "screaming deals" and superb homes in every sector. Whether it's a luxurious mountain home, a fantastic near-the-slopes townhouse, or whatever your preference might be ... I have access to all the listings – or you can search property listings in the Crested Butte MLS yourself in the privacy of your own home. Allow me to make it easy for you - let me find the best deals for the properties that meet your needs.
Crested Butte area January Closings: 9
Total $ sales: $3,494,500
Average Sales Price: $388,277
High Sales Price: $825,000 (124 Whiterock, Crested Butte)
Average Days on Market: 282
Crested Butte Listings Currently Under Contract
Total $ Pending: $15,450,530
Average List Price: $594,251
High List Price: $1,495,000 (5 Ruth’s Road, Crested Butte)
Average Days on Market: 272
There was an article about ski resort real estate in the New York Times that I think you might find interesting. Skiers Buy Vacation Homes as Prices Fall.
Also, a blog post by Candace Horgan, which was well written and positive. Good to share with friends and family who have not yet been to CB. There’s Crested Butte, and There’s Everywhere Else.
Don't forget that I'm available when your friends and family are in town and would like more information about the real estate market and perhaps a tour of their favorite area. I am very familiar with our inventory and know about the best deals, in town, on the mountain and elsewhere. I'm happy to help.
Thank you for reading. Enjoy the snow and sunshine!
2009 Crested Butte Real Estate Update
All in all, 2009 turned out to be a fairly good year for real estate in Crested Butte. Yes, though it started out weak, it improved and got more interesting as it came to an end. Here are the stats:
December closings: 11
Total dollar volume: $7,904,900
Average sales price: $718,627
Average days on market: 350
List price to sales price ratio: 84%
Sales over $1 million: 4 (2 in CB and 2 in Mt CB)
Sales over $2 million: 1 (12 Anthracite for $2.4 million)
Crested Butte Real Estate Sales Year-In-Review:
2009 Closings: 151
Total dollar volume: $83,391,907
Average sales price: $552,264
Average days on market: 331
List price to sales price ratio: 88%
Sales over $1 million: 20
Sales over $2 million: 7
Some notable items:--- 21 vacant lots sold this year, including a Prospect ski-in/ski-out lot for $1,000,000. Look for a new house to be started there soon. 41 acres on Brush Creek Road traded for $2,325,000.
--- In CB South, 6 lots sold! This is an indication that buyers are recognizing future value in investing in our communities and a good indicator of future development.
--- The lovely home at 13 4th Street traded this Summer for $2,037,000 - at the highest sale price in Crested Butte to date.
--- Of the 151 sales, 6 are short sales and 16 bank owned properties.
We're finding that though the banks are not pricing to "give-away" their inventory, they are pricing competitively for the most part.
There are some really good deals out there. Click Here to sign up to receive foreclosure listings for the Crested Butte area. There is no cost or obligation and it's easy.
Some other good news!
Conde Nast Traveler named Crested Butte one of their Top Ski Destinations! This is an impressive list going to a strong audience for our resort.
Woman's Day Magazine put Crested Butte in the Top Ten Ski Resorts from around the world!
Crested Butte Real Estate Sales for September 2009
Alas, Summer is over and we've managed to do a good bit of catch-up on the Crested Butte real estate sales end. As you know, the first few months of the year were dismal in sales, but recent months have been quite good showing some remarkable sales which show that there are buyers understanding the intrinsic value of Crested Butte, both in real estate and lifestyle.
Of the 22 closed sales in the month of September for a total of $11,951,600. Here is an overview and some highlights:
2 sales in Crested Butte South:
99 Cascadilla with nearly 2000 sq ft of living space and garage sold for $325,000. A mere $172/sf!
123 Huckeby, single family with over 2000 sf sold for $154/sf or $330,000. This was a bank-owned home and an amazing deal!
5 condos and homes in the Historic town of Crested Butte:
Of note ... 2 of the 5 went for over $1 million. 500 Butte sold in less than 60 days for $1.2 million and 418 Third sold for $1,195,000
11 sales in Mount Crested Butte:
Including two Pitchfork homes. 102 Pitchfork, 2 bedroom/2 bath sold as a short sale for $225,000 and 102 Horseshoe with 3 bedrooms/2 baths sold for $450,000
Two Plaza condos. A two bedroom for only $278,000 and a 3 bedroom condo traded for $360,000. This is a great complex, short walk to lifts
Another condo at The Lodge at Mountaineer Square with nearly 900 sf at only $450/sf was a steal for this lucky buyer. Nearly new and the heart of base area
a mountain masterpiece in Overlook at 16 Peakview - 5100 sf new luxury home on one acre, just sold for $2,872,500
The little cabin on just over 2.5 acres on Gothic Road sold for $260,000 - this will make a great close-in get-away!
Last year for the month of September a slightly lower number of sales (20 in 2008 vs 23 in 2009) for a total of nearly $13 million in 2008, vs nearly $12 million in September 2009. The reality is that although we are maintaining the 2008 volume, prices have come down ... by about 25% from 2008 to 2009.
25% decrease in prices is a lot, yet it must be related to the meteoric rise in prices in the preceding years. Yes, this is an adjustment and not a welcome one ... unless you are a buyer. The smart money knows that over the long term real estate is the very best value for your money - and, you get to enjoy it!
Are we at the bottom of the market? I don't have that crystal ball, but, if we are not, we are close. Also, noting that sales prices are coming in at under 90% of asking on average, the bottom is very possibly being made.
If there is something special you've been thinking about, let me find it for you. There are superb properties coming available every week, at really good prices. Let me tell you when the one you've been dreaming about comes available - before it's snapped up by someone else. I watch the market daily and can be watching it for you!
Crested Butte Real Estate Sales Market Update & Information for August 2009.
It has been an excellent month for Crested Butte real estate home sales. There are certainly signs that buyers are recognizing great values and making investment and lifestyle decisions that go hand-in-hand. Clearly the purchase of a fabulous, well-priced Crested Butte Vacation Home will provide more long term pleasure for you and your family than a stock portfolio. Don't get me wrong, a strong stock portfolio is a wonderful thing. Yet, it is even more wonderful to have a diversified portfolio that includes real estate, especially when that real estate is at the gateway of skiing, hiking, mountain biking, horseback riding, golf, fishing and 2 million acres of open space to play in!
August 2009 saw 27 properties sell for a total of $19,108,500 in and around Crested Butte, Crested Butte South and Mount Crested Butte, including the one of the most significant sale of the last 12 months:
. . . 146 acres at Brush Creek that sold for $2,325,000. At nearly $16,000 per acre, this beautiful property will hopefully have a fantastic home built on it in the not-too-distant future.
. . . An interesting point to bring up is that several vacant lots have sold, including two in Skyland and one on Summit Road. This was the sector of our Crested Butte real estate market that was the most sluggish in months past. Thankfully no more.
One more interesting fact: 6 of 27 of these properties sold at or above asking price!
And, my listing at 25 Paradise Road in Mount Crested Butte sold in 60% less time than the average days on market!
If you or someone you know wants to sell a property at the highest price the market will bear in a reasonable amount of time, give me a call or click here for a Home Valuation. Alternatively, buyers can search the MLS from the privacy of their own homes here or call me and I will happily search for them.
Thank you for reading. I hope you enjoyed my Crested Butte Real Estate Sales Market Update & Information.
There has also been a marked thaw in our real estate market which had been fairly dormant all Winter and well into Spring. We have had several significant sales, of particular note: the building Maxwell's Restaurant is located in for $1.65 million and a stunning single family residence at 13 Fourth Street at $2,037,500!
Total sales volume: $9,518,000
Average sales price: $528,777 -- up 6% from the first half year sales!
We also now have 37 properties pending closing, including 4 properties between $1 and $2 million and 4 homes over $2 million.
I am proud to announce a great new listing on Mount Crested Butte ... a spacious 3 
bedroom, 2 bath townhouse in pristine condition that would be suitable for both a local or second homeowner. It offers a rare 2 car garage, has great views and is a short walk from the lifts. Priced to sell at only $409,900. See my Interactive FloorPlan and Virtual Tour for all the details.
Please don't hesitate to call or email me with any questions about Crested Butte or real estate. I am always happy to hear from you and help you enjoy this little piece of Paradise.
Crested Butte Real Estate Market Update for first half 2009
Summer has arrived in Crested Butte along with lots of people to enjoy our wildflowers and friendly atmosphere. America's Birthday Celebration was a huge success and enjoyed by adults and children alike. 
The Wildflower Festival is in full swing and the Music Festival is just starting up. For a complete list of Crested Butte events and festivals, click here.
Real estate right now is a bit of a mixed bag and there is one common theme locally and nationwide and that is that it is a good time to buy. Interest rates are still very low and the sellers who need to sell are motivated and some are offering screaming deals! To search for properties on our MLS in complete privacy, click here.
For the first half of 2009:
Number of properties sold and closed: 42
Total dollar volume: $20,941,307
Average sales price: $498,602
Currently, there are 29 properties under contract for a total of $20,236,400.
For a free, no-obligation 20 minute consultation, please feel welcome to contact me. Make it a wonderful Summer!
May 2009 Crested Butte Real Estate Market Update & Information
As the snow melts and the wildflowers begin to bloom, so is the Crested Butte real estate market. Smart buyers are taking advantage of unprecedentedly low prices and interest rates to lock in savings and buy their own piece of paradise.
10 closings took place from May 1 to May 25th for a total of $4,925,000
~Average sales price: $492,500 at 89.6% of list price on the average
~Average days on market: 248, with the low 51 days and the high 709 days
~The low selling price: $75,000 for 1/3 acre in CB South
~The high selling price: $1,300,000 for a 4 bedroom/4 bath luxury condo at the Lodge at Mountaineer Square, at the base of the mountain
Here are the May 2009 Crested Butte Real Estate Sale Details
April 2009 Crested Butte Real Estate Market Update
Look beyond the fact that in April 2009 there were only 2 sales consummated in the Crested Butte area. They are:
830 Elk Avenue, Crested Butte at $680,000
and 23 Wildhorse Trail, Wildhorse at Prospect, Mt. Crested Butte for $1,370,000
As of this writing, we have 23 (YES, 23!) properties under contract to sell! We are seeing more activity and that is being reflected by the number of properties under contract.
For my list of HOT BUYS OF THE WEEK in Crested Butte and Mt Crested Butte and CB South, contact me at 970-596-8480 or complete the form below.
First Quarter 2009 Crested Butte Market Update
23 sales
Sales volume $10,291,307
Average days on market 230
State of the market: Update March 30, 2009
Spring is almost here and the real estate market, as well as our temperatures here in Crested Butte, is warming up. The prices on many homes and condominiums have been reduced drastically, giving buyers a look at real opportunities and good values. Since March 1st, we've had 5 closings for a total of $2,697,500 and average sale price of $539,500. We're seeing more showings and offers and under contracts in the last few weeks. Since March 1, here are the properties sold:
- 8 Teocalli $900,000
- 369 Grand Lodge, West Tower $125,000
- 620 Gothic Road $412,500
- A103 West Wall Lodge $825,000
- 12 Alpine Court $435,000
We currently have a short list of Crested Butte foreclosure listings which you can request to have emailed to you. Email Trish@Homes-In-Crested-Butte.com with Foreclosure in the subject line and a list will be emailed to you within 48 hours.
There is no cost of obligation for this service. Your privacy is assured. You may cancel at anytime.
Statistics and State of the market: Update March 1, 2009
Although there is ample discussion of how bad the real estate market is, remember that all real estate is local ... as in location, location, location. Our beautiful Crested Butte area offers more than a home, important as that is. Crested Butte is a lifestyle choice, where people work and play in balance, or come to create memories that will last a lifetime.
The second key thing is that although some properties are still over-priced, many have become true bargains - both from a price and value perspective.
Since January 1, 2009 there have been 10 closings. They are as follows:
Crested Butte Town Sales:
- 714 B Teocalli $425,000
- 703 Sopris $569,000
- 731 Maroon $685,000
Mt. Crested Butte Sales:
- 311 Grand Lodge, East Wing $95,000
- 103 Mountain Sunrise $244,500
- 106 Perry Creek St, Prospect $262,949
- 105 Perry Creek St, Prospect $263,358
- 20 Snowfall Drive, #12 Snowfall Point $285,000
- 319 The Lodge, The Lodge at Mountaineer Square $885,000
- 401 Black Bear Lodge, Black Bear Lodge $950,000
We analyze the Crested Butte real estate market daily. A few properties stand out as exceptional values. We will make available this list of CRESTED BUTTE HOT REAL ESTATE VALUES to you, at no cost or obligation. If you would like to receive this list via email, please email us and put the words "CB HOT VALUES" in the subject or body of the email.
