First Quarter Sales Activity is Impressive in Crested Butte

Hello from Crested Butte
Compared to last year, the first quarter of the 2011 Crested Butte real estate market has seen a serious spike in the number of sales. Year-to-date, we’ve realized 56 home and condo sales. Last year at this time we saw only 39 sales. Most of the recent action is up in Mt. Crested Butte where the high inventory of condos has driven prices down. Average sold prices per square foot hovered around $215 in Mt. Crested Butte and saavy buyers responded, picking up 29 ski condos and another 5 single family homes. The deal making is still going strong during our off-season. We have an additional 32 homes and condos under contract from Crested Butte South all the way to the ski resort

Interestingly, in the town of Crested Butte a high inventory of available homes for sale has not created the same kind of buyer’s market. If you want to own a home in town, brace yourself. The average list price of a single family home is $1,055,000 or $445 per square foot.

Thompson Creek Metals Company Leaves Town
US Energy lost another Mt. Emmons mining partner this past week. Thompson Creek Metals Company walked away from its 3 year relationship with US Energy. This marks the fourth “partner” to leave a potential Mt. Emmons molybdenum mining effort with US Energy (Phelps-Dodge, Amax and Kobex have all come and gone). The Crested Butte community celebrated the news – to say the very least. Read all about this major event at the Crested Butte News.

Snodgrass Mountain Resort Expansion Back on the Table
Talks have resumed between Crested Butte Mountain Resort (CBMR) and the U.S. Forest Service regarding the resort’s expansion on Crested Butte and Snodgrass mountains. On March 31, CBMR met with the Forest Service to outline several potential ski area development options, including three scenarios that could bring resort skiing to Snodgrass Mountain. Read all about the renewed effort by CBMR to get resort skiing back on the table.

Upcoming Events in Crested Butte and Gunnison
May 28th – 29th:
Rage in the Sage Weekend including Sage Burner 50k/25k Run, Original Growler Mountain Bike Race, 24 Hours of Gunnison Glory rock climbing & the Gran Fondo bike ride from Gunnison to Mt. Crested Butte and back to Gunnison.

June 3rd – 10th:
Crested Butte Restaurant Week

Residents and visitors alike will delight in the second annual Crested Butte Restaurant Week highlighting local eateries and lodging establishments in Crested Butte.

Thanks for reading today!

Channing Boucher
Broker Associate
Benson Sotheby’s International Realty

Contact Channing at 970-596-3228 or via his website.
Channing’s Blog: The Crested Butte Real Estate Letter

Benson Sotheby’s International Realty | 433 Sixth Street | Crested Butte | CO | 81224

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