View Crested Butte Real Estate Adviser 2010 Issue #9
Hello from Crested Butte!
Summer has come and gone in Crested Butte. While you can still ride a bike on our trails or hike a peak in your tennis shoes, everyone around here is getting ready for winter. Opening day for the 2010-2011 ski season is less than two months away! Up at the ski area, improvements are underway to make the upcoming ski season a special one. The ski company added new snowmaking, cut some new trails, gladed some other terrain, moved the terrain park complex to the Gold Link portion of the resort and improved the Treasury Center facility at the base area. Read this recent article from The Ski Channel to learn more.
The discussion of lift-served skiing expansion onto Snodgrass Mountain evolved into a recent, high level meeting between the U.S. Forest Service and Crested Butte Mountain Resort’s executive team. It seems the ski resort and the Feds are communicating again, looking for a better approach to expanding skiing and other recreational opportunities onto Snodgrass. Read all about it in last week’s Crested Butte News.
Anyone that was in the valley this summer felt it. There was tourism going on all around. It was reported at a recent Town Council meeting that key tax revenue metrics were up. In July, sales tax revenues were up 9.6 percent. Lodging tax revenues saw the biggest jump, at 22 percent, while the retail sector saw a 13 percent increase in tax collections.
Real Estate Sales
In my last newsletter (Aug 31), I reported that homes, particulary luxury properties, were seeing an uptick in sales activity due to price reductions. At that time, we had realized 87 residential sales and about $44 million in sales volume. It is a month later and we have jumped to 116 residential closings and almost $60 million in sales volume. We have 26 additional homes and condos under contract and $21 million more in pending sales.
Notable Sales Activity
Luxury home on 35 acres located on Ridge Road above Crested Butte South sold for $2.9 million.
Historic single family home on Sopris Avenue in town sold for $787,000.
Three bedroom home located in the Verzuh neighborhood in town sold for just over $1.1 million.
Foreclosed home at Skyland sold for $900,000. (It was on the market for just 40 days).
Three bedroom home at Pitchfork in Mt. Crested Butte sold for $575,000.
This upcoming winter is special. We will be celebrating the 50th year of skiing at the resort!
Opening Day for Crested Butte Mountain Resort: November 24.
Thanks for reading today!
Benson Sotheby’s International Realty
Benson Sotheby’s International Realty | 433 Sixth Street | Crested Butte | CO | 81224