View This Month’s Crested Butte Real Estate Adviser Issue #8
USA Pro Cycling Challenge Afterglow
If you were in Crested Butte for Stage 1 of the USA Pro Cycling Challenge, you witnessed a historical sporting event for our little mountain town. It seemed like everyone had the pro bike race fever and the event lived up to all of the hype and expectation. Official economic results are not expected until this October, but race officials say the afterglow from the USA Pro Cycling Challenge burns bright across Colorado. Aside from the immeasurable impacts of the week long, television broadcast to over 160 countries and an estimated 20 million viewers, some feel the professional bicycle race created as much as a $100 million economic impact for the State of Colorado.
Summer Tourism Stronger
The Town of Crested Butte reports a notable increase in June and July sales tax revenues. Tax revenues from local restaurants, bars, grocery, retailers and lodging were up as much as 10% compared to 2010.
$60 Million and 136 Home and Condo Sales Year to Date
I reported in my last newsletter that our local real estate market was demonstrating signs of improvement this year, reaching a 100 home and condo sales from Crested Butte South to Mt. Crested Butte by mid-July. The sales trend continues. By Labor Day, our year-to-date transactions topped 136 homes and condos and $60 million in sales. The all-cash buying trend has also continued with 81 of this year’s 136 sales closing as “all-cash” transactions versus just 52 properties purchased with conventional home loans.
Notable Commercial Real Estate Sales
The 8881 sft. Crested Butte International Hostel and public laundry building located at 615 Teocalli just sold for $1.4 million.
Fall Colors. Crested Butte’s Third Season
Crested Butte is known worldwide for it’s amazing wildflower color spectacle that occurs every July. This year we were treated to a wildflower season that extended clear into August. But, some folks around here think September is the best time of year to be in Crested Butte and take in our amazing Fall color show. This time of year, the summer crowds are gone, the nights are cooler, the days are still sunny and warm for biking and trail hiking and the wildflower rich hillsides give way to the amazing array of brilliant color change with our Aspen and Cottonwood forests. Here is a helpful article on how to best take advantage of the changing leaves in and around Crested Butte.
Upcoming Events in September – September 24th – Vinotok Fall Celebration
Mumming by Cast and Crew
5:30 p.m. – 7:30 p.m. – Location: Elk Avenue and adjoining Restaurants and Pubs
Cast and Crew of Vinotok produces a mini-theatre inside Elk Avenue Restaurants to invite people to the performance of the trial.
Trial of the Grump
7:30 p.m. – Location: Elk Avenue in front of the Eldo
The community puts the Grump on trial with harvest maiden dances, and a play of the Harvest Mother, Dragon, Knight and Green Man. The performance is amplified and lit so the community can hear and see the tale on the temporary stage.
Procession to the 4-way and Bonfire
8:30 p.m. – Location: Elk Avenue to the 4-way
The cast and crew lead the community down Elk Avenue to the 4-way stop, Grump in tow, to meet his demise. The bonfire and burning of the Grump will begin at approximately 8:30 p.m. and put out by 10.
Thanks for reading today! We hope to see you in Crested Butte very soon!
Benson Sotheby’s International Realty
433 Sixth Street | Crested Butte | CO | 81224