Forget about the national economic panic and fall out from the mortgage lending fiasco for a moment. Crested Butte remains insulated from much of what is going on outside of Gunnison county. So far our 2008 sales activity reflects solid buyer momentum for Crested Butte area real estate.
Case in point: The Elevation Hotel and Spa, formerly the Club Med facility located slopeside in Mt. Crested Butte, just finished getting their entire condo-tel offering under contract with some of the units already sold. The hotel is nearing completion (summer/fall 2008) of a massive conversion from the old 260+ room hotel into a luxury, 4-star facility complete with an 11,000 sft. modern spa facility. Visit their site: Elevation Hotel and Spa Web Site
Elevation Hotel & Spa developer, Sunvest USA, has a long track record of success in the luxury condo marketplace around the US and their success in Crested Butte is not a surprise. Of course, location is everything in real estate and the Elevation Hotel and Spa couldn’t be any closer to the two main high speed quad lifts at the base of the ski mountain.
Aside from the Elevation Hotel activity, there are currently 64 other properties under contract in our local market area and 10 deals have closed this year including notable sales of the Crested Butte Club Boutique Inn and Spa on 2nd Street for $2,590,000 and a Mt Crested Butte single family home for $1,933,000!
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Crested Butte Real Estate Agent
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