Developers Slashing Prices on Vacant Land

Good day from Crested Butte!

If you’ve ever used eBay.com to buy or sell something then you are familiar with the phrase: "Buy It Now Price". It now appears some Crested Butte real estate developers have coined a new phrase; "The Dump It Now Price".

With property inventories reaching all time highs, real estate sales – especially for vacant land – are flat. Values on homes and parcels in town and on the mountain remain high as there has been just enough sales activity to support strong asking prices. We’ve seen solid 7-figure deals for homes and slopeside condos in Crested Butte and Mt. Crested Butte and this month a homesite in the Verzuh neighborhood of Crested Butte sold for $755,000!

However, once you leave town limits, developers are slashing prices on unsold lots, offering deep discounts and 2005 pricing on some deals. The developer of the Larkspur subdivision across the street from the Crested Butte County Club dropped prices on his remaining parcels in this new subdivision significantly below what they were selling for just a few months ago, some going well below $200,000. Additionally, the developer at Buckhorn Ranch has dropped prices more than 40% on all of his remaining inventory. You can buy a small, interior lot in this neighborhood for $92,000! And, with over 50 parcels on the market in Crested Butte South, bargains can be found as sale prices are dropping below $100,000 for 1/3 acre view properties.  It might be a good time to start shopping for dirt around Crested Butte!

Thanks for visiting!

Channing Boucher
Crested Butte Real Estate Agent
Visit My Crested Butte Real Estate Guide

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