Crested Butte Real Estate Market Rebounding

View Crested Butte Real Estate Insider August 2009 Edition Here 

Good day from Crested Butte!

Mid-summer real estate sales activity in Crested Butte picked up enough to give our market a very important "shot in the arm" confidence booster. We limped into the historically busy summer selling season after a dismal end to 2008 and first half of 2009. Our market was down almost 65% and by the end of May things were looking pretty grim for summertime sales.

But, in July and August we experienced some very impressive buying activity particularly for luxury homes at the higher end of our market. Our market rebounded with July 2009 sales numbers actually doubling (over $13 million) that of July 2008 numbers ($6.3 million). The market is now down about 47% year-to-date compared to 2008. This is a moral victory considering where we were just a few months ago.

At the north end of our valley (Almont to Mt Crested Butte), we’ve seen 68 homes and condos sell in 2009 with 12 of these properties trading for $900,000 or greater. 3 homes sold for more than $2 million dollars! The most important statistic? We still have 38 more residential properties under contract representing another $25 million in pending sales volume. When these sales are finalized our year-to-date market condition will improve again and get us within 15% of 2008’s sales performance. Quite a jump to say the least. Stay tuned.

View Benson Sotheby’s Year to Date Market Analysis – PDF

Cool Upcoming Events in Crested Butte:

The Crested Butte Farmer’s Market continues Sunday’s through September. Be sure to check it out.

Back by popular demand, Djangofest returns to Mt Crested Butte on September 5th.

Vinotok 2009 – Crested Butte’s Fall celebration that defies description returns on September 16-19.

Thanks for reading today!

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

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