Summer is over but the real estate economy in the Crested Butte area is as vibrant as our wildflowers and sun splashed peaks. Construction activity including new housing starts has also picked up significantly throughout the valley. In addition to the many custom homes being built, the ‘spec home’ segment continues its rebound with new luxury home offerings currently under construction in Prospect, Wildhorse at Prospect and the town of Crested Butte.
This summer, demand rose for higher end properties and it appears prices in general are headed higher in most locations around the valley. We’ve already sold $60 million worth of single family homes (71 sales) and another $31 million in condos and town homes (117 sales). The median sale price of a single family home has jumped from $525K last year to $650K in 2014. Another key metric, days on market, has plummeted. Last year we averaged 306 days on market and this year it’s down to 254 days for both homes and condos.
Year-to-date, 14 homes sold above $1 million and 2 properties fetched higher than $ 3 million. Last week, the renovated historic property located at 102 Maroon Ave sold for just over $2.2 million, marking the highest priced sale in the town of Crested Butte this year.
Notable Metrics From the Summer Season
Two Crested Butte South home have sold this summer above the $565K mark.
Most expensive land sale in the town of Crested Butte: $550K.
Two Prospect ski in ski out parcels just sold for $500K each.
Most expensive sale year-to-date: $3.275M for a rural Crested Butte home on acreage.
Town of Crested Butte median sales price for a single family home is now $825K.
View My Recent Significant Sales at the Crested Butte Real Estate Guide
Wildhorse at Prospect Ski Home Construction Update
Crested Butte’s newest luxury ski homes are taking shape and nearing completion at Wildhorse at Prospect in Mt. Crested Butte. Two amazing 4,000 ft. homes with views of the ski slopes are set for delivery in early 2015. Windows and exterior siding are being installed this month.
Wildhorse at Prospect is an intimate enclave of ski homes located across from Crested Butte Mountain Resort’s ski slopes and Gold Link ski lift. The views from this location are stunning and the ski and trail access is unparalleled. Visit the website to learn more.