Good day readers,
Our $200+ million dollar real estate market rolls into 2007 with a full head of steam and the promise of another record-breaking year in Crested Butte real estate. Investors remain bullish on Crested Butte – from vacant land to single family homes across the valley. The price corrections we saw during late 2006 seem to have spurred interest and activity during the last 6-8 weeks and momentum is building.
The Lodge at Mountaineer Square project is headed for a late Spring completion with closings that will represent almost $90 million alone in transaction volume.
Other promising new developments slated for completion this year include the Black Diamond Lodge and Hawks Nest. These are town home complexes located very near the ski slope. They feature high end finishes, nice amenity packages, garages and more square footage than the units at the Lodge at Mountaineer Square and the condo-tel units at Elevation Hotel and Spa. The Hawks Nest deal even includes a membership to the West Wall Lodge Alpine Club.
The recent Cimarron reservation lottery yielded 75% of the units under contract which means the old Gothic building at the base area will be deconstructed this Spring and new construction will begin. Cimarron is projected to be ready by 2009. This 90+ unit complex will be CBMR’s premier offering, featuring great owner amenities, guest services and an on-slope pool!
All in all our market is shaping up for a strong 2007. It is safe to assume that we will pop the $200 million volume mark easily this year and set a new record. Meanwhile, think snow!
Thanks for visiting,