Crested Butte Real Estate Insider May 2009 Edition

Hello from Crested Butte,

Crested Butte is heading into the busiest season of the year – summer. Yes, summer is bigger than winter in terms of visitors and tourism. Combine all of our great events and activities with our temperate Colorado weather and you can see why folks are spending their summers in the Butte. Bookings at area lodges are up – way up from last year. The Elk Mountain Lodge reports a sharp increase in summer bookings and it’s a challenge to find a house to rent in town – most vacation homes for rent are reserved months in advance especially for the months of July and August.

And, we are starting to see our local real estate market wake up from a long winter slumber. Year to date we’ve realized 28 residential sales and $15 million in volume. There are 19 other residential properties under contract. During May, the following transactions occurred:

601 The Lodge at Mountaineer Square – the penthouse condo sold for $1,300,000.
716 Whiterock – a small single family home in town sold for $795,000.
830 Elk Avenue – a single family home in town sold for $680,000
701 Red Lady Ave – a 3-bedroom duplex unit in town sold for $650,000.
338 Cement Creek Road – a 3 bedroom Crested Butte South townhome sold for $385,000
M2-18 at Buckhorn Ranch – a sub-1/4 acre parcel traded for $150,000.

Property owners in Gunnison County received their new tax assessments recently. The assessor’s office made a report available to help explain why many of us are seeing another round of increases in our property values. Feel free to download the report here.

Here are some helpful links for summertime events and activities in the Butte:

Crested Butte Area Calendar of Events
Fat Tire Bike Week & Other Mountain Bike Events – June 24-28
Crested Butte Music Festival – Thru July
Crested Butte Wildflower Festival – July 6 – 12
Crested Butte Land Trust Wine & Food Festival – July 23-26

Have fun this summer in Crested Butte!

Channing Boucher
Benson Sotheby’s International Realty
Local Knowledge Global Reach

PS: Crested Butte’s first magazine dedicated to the Crested Butte mountain home was released this month. Visit Peak Magazine online to learn about our community’s amazing architecture, interior designs, green building techniques and historic renovations.

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