The luxury real estate market has come alive in the Butte with a record breaking deal. Last week a single family home on 4th Street in Crested Butte sold for just over $2 million dollars. This is the highest sale price for a single family home in town and it comes after a very slow start for homes sales during the first half of 2009.
Other notable luxury home deals include a $1.7 million Butte Avenue home that is under contract and a Gothic Avenue house listed at $1,495,000 is also under contract. Over on Ruth’s Road, a home listed for $975,000 has a sale pending.
Out at the Skyland neighborhood, a Lake Grant luxury home listed for almost $2.3 million is under contract and two larger townhomes listed between $795,000 and $900,000 in Mt. Crested Butte’s Pinnacle’s development are under contract. In Crested Butte South, a home on Shavano listed for $729,000 is also pending.
Even the high end of the Gunnison market is seeing activity with a pending sale for a home on 10 acres listed at $750,000.
At the southern end of our market area, a log home on 32 acres outside of Lake City sold this week for just under $1.4 million marking the first seven-figure residential deal in this resort community in almost two years.
Another notable transaction comes from the commercial real estate world. The infamous Idle Spur building on Elk Avenue has sold to it’s current restaurant operators: Maxwell’s, for just over $1.6 million.
It’s an understatement to say these are remarkable real estate deals for the slowest market conditions we’ve realized in 5 years. Buyer’s are taking advantage of the large selection of homes and condos and demonstrating renewed faith in our real estate, our community and our lifestyle.
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