Insulated Real Estate Market?

Good day,

My friend at Crested Butte Mountain Resort’s Real Estate company published some interesting data this past week about our real estate market for land and residential properties. Our 2007 2nd Quarter sales volume topped $80 MM for residential and land transactions. This is incredible considering our real estate market was less than $20 MM in 2004, $236 MM in 2005 and $200 MM in 2006. We are on track this year to match last year’s sales volume.

In the face of a softening national real estate market and fallout from mortgage lending fiasco, Crested Butte remains insulated. We continue to realize strong investment in our real estate even though our property prices have risen to historic highs. Average sales prices are up and the sales volume remains steady.

Feel free to download the following graphs. The data utilized in these presentations was compiled from the Gunnison County Association of Realtors MLS system as well as CBMR and Eagle Resort developer-only sales figures (non-MLS) for the Lodge at Mountaineer, Wildhorse at Prospect and the West Wall Lodge.

2007 Quarterly Sales Volume (PDF)

2007 Quarterly Sales Volume and Average Residential Price (PDF)

Thanks for visiting today,

Channing Boucher

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