Real Estate Market Momentum for 2012

Happy Snow Day from Crested Butte,

If the real estate market momentum we realized in 2011 is any indication of what we can expect this year, 2012 will be a good year for the Crested Butte real estate market.

Consider the following:

In 2011, the single, highest residential real estate sale we realized in Crested Butte was $3.125 million. This sale marked the first time since June 2007 the $3 million threshold was cracked for a home purchase at this end of the Upper East River Valley.

Also in 2011, we realized over 220 sales of homes and condos from Crested Butte South to Mt. Crested Butte. This is a jump from 143 total sales in 2010. We passed $105 million in total sales volume – the first time we’ve done that since 2008. And, we hit this mark with mostly all cash investments!

During 2011, the average days on market for sold homes and condos sold went down and average sold prices and average sold prices per square foot went up in all areas including Crested Butte South, Crested Butte and Mt. Crested Butte. See my newsletter 2011 Issue #9 for details.

Already in 2012, we have realized a $4 million sale of a Sotheby’s listed home in the Prospect ski-in ski-out subdivision. Its been over 6 years since somebody has purchased a house in our market for $4 million or more. (2005 sale: $4.3 million Skyland home). This is momentum!

Teocalli Park and CBMR’s New Master Plan

The North Face lift with chairs? Two new ski lifts rising a total of 8000 feet to the top of something called Teocalli Park? CBMR has submitted a new master plan to the US Forest Service and its quite a departure from the Snodgrass Mountain expansion plan that was denied a few years back. Read the article at the Crested Butte News

Did You Know – “The Crested Buttes”

The East River Valley where Crested Butte is located was once used as a summer residence by Ute Native Americans. The Utes were quickly displaced when white explorers – beaver trappers and surveyors – first entered the valley. Captain John Gunnison, Gunnison County’s namesake, was one of the first explorers to find the valley. Crested Butte got it’s name from a geologist named Ferdinand Hayden who was on 1873 expedition surveying the Elk Mountains. From the top of what is now known as Teocalli Peak, Hayden referred to present day Crested Butte Mountain and Gothic Mountain as “the crested buttes.” 

Crested Butte In The Media

The San Francisco Chronicle ran a recent article about our little town. …“where every view seems to contain a snow-capped peak and ranchers still herd cattle on city streets – the American frontier is alive and well.” View Article

2011-2012 Air Service to Gunnison and Crested Butte

View Flight Schedule (PDF)

Thanks for reading today! We hope to see you in Crested Butte very soon!

Channing Boucher
Broker Associate
Benson Sotheby’s International Realty

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