Crested Butte Real Estate Advisor Issue #2

Land For Sale in Crested Butte

Is our real estate marketplace growing too hot or are we just getting started on another significant run?  With over 110 local properties currently set to close and some of the higher priced listings in the Crested Butte area going under contract in recent days it is safe to say that folks are not waiting around for the summer buying season to make their investments. Coming off 2016, our best performing year since 2008, the word is out that our real estate market is on the move.


The $185M in sales volume we reached last year seems like a big deal but considering the boom days of 2004-2008 when we reached over $1.2 billion in sales during that 4-year stretch it feels like we are just warming up.


Affordability and availability of offerings at the lower end of the market seem to be going away as the inventory of available condos and single family homes is now at a 9 year low. Up in Mt. Crested Butte, there are only 55 condos for sale (at one point there were over 300 listings). Down in Crested Butte South there are only 3 homes for sale. Right now, the best price opportunity on a single family home in all rural Crested Butte locations is $795,000 for a new 4 bedroom spec home at Buckhorn Ranch. And, a three bedroom home that was just listed at Buckhorn Ranch for $679,000 went under contract inside of a week.


Read the Complete Newsletter Here

Highest Price Ever Fetched in Town: 919 Belleview

SOLD: 919 Belleview

Records are made to be broken. My exclusive listing at 919 Belleview just fetched the all-time highest sales price paid for a home in the Town of Crested Butte. Crested Butte’s real estate market continues to improve and the sale of this property for $2,700,000 reflects the growth in popularity of investments in our community’s property offerings.


Property Description:
An amazing collaboration between Crested Butte’s Daniel J Murphy Architect, Michael Weil Custom Homes and Interior Visions, 919 Belleview Avenue is Crested Butte’s latest luxury mountain home offering. Interior highlights include reclaimed mixed grain wood floors, quartz counters, custom built-in cabinetry, stunning reclaimed beam work throughout the home, vaulted ceilings, a state of the art Thermador kitchen, American Clay walls, custom fireplaces of concrete and steel in the main living room and the master suite and designer lighting & sound. Located on the coveted open space of the old Verzuh Ranch in the east end of town, the home enjoys absolutely stunning and forever protected views of our beautiful skyline including the impressive vista of iconic Mt Crested Butte.  The detached garage enjoys a 6th bedroom and bath upstairs, a shop space in the rear and a pet/boot washing station. Outside you will find a big paver brick driveway and front step and paver patios and a walkway that extends to the back of the property. The huge .26 acre parcel translates into one of Crested Butte’s biggest homes. The house was completed in June of 2016.




2016 Ski Resort Real Estate Report

Resort Report 2016 Year End

Want to understand where Crested Butte fits into the greater Western United States ski resort real estate market place? Have a review the Resort Report below where you will find interesting statistics and market comparisons.


Often found in desirable, slightly less accessible locations than national mainstream markets, resort communities are prone to unique, heavily saturated luxury markets. Higher net worth individuals are often drawn to these markets based on their exclusivity and proximity to year round recreation. While resort markets tend to have a greater density of luxury offerings, this is matched with less inventory, often driving prices up. LIV Sotheby’s International Realty compiles data from 12 prominent resort communities throughout the western half of the United States in order to provide pertinent market information regarding the overall housing market in each area to help consumers make informed buying and selling decisions.



Project of the Year in Crested Butte: 313 Sopris Avenue

BOZAR Project of the Year

On January 26, 2016 Crested Butte’s Board of Zoning and Architectural Review (BOZAR) held their annual Year End Review to consider the projects completed in 2016. Members of the BOZAR and Town staff reviewed a presentation of projects in the following categories: New Residential, Accessory Buildings, Accessory Dwellings, Residential Remodels and New Commercial. The Board considers the effective application of the design guidelines, the massing, site design, overall architecture and exterior materials in their consideration of all of the projects. The Board selected the most outstanding projects for 2016, honoring two projects with the prestigious Project of the Year Award. Several other project were awarded honorable mentions. This, as with each year, is a community effort and the BOZAR and Building Department Staff wish to thank the property owners together with the Building and Design Community for another successful year of construction in Crested Butte. The architectural uniqueness of Town owes a great deal to your hard work.


The Project of the Year for a rehabilitation to a historic home in 2016 was awarded to 313 Sopris, LLC and Jeff Hermanson, for the rehabilitation, addition and historic preservation work of the 1881 residential building located at 313 Sopris Avenue. The Board commended Priscila Palhava and Peter O’Rourke for the sensitivity of this unique historic structure and the attention to detail in the rehabilitation on the project as a whole was greatly appreciated. Each step along the way, O’Rourke and Palhava met with Town Staff and representatives from the Board to ensure that the path of rehabilitation was appropriate for this special building. Uncovering two different types of siding, maintaining as many of the historic windows as possible, the lower “cellar” door and returning to the East elevation entry were all examples of the details you all took to help this building preserve its unique character. This is an iconic building in Crested Butte, as it sits atop the hill on Sopris Avenue. According to the historic building survey, this building was built in 1881, as the Pioneer Apartment Hotel, and is one of the oldest in Crested Butte. Crested Butte founders, Howard Smith and George Holt, erected the building and the Spehar family acquired the building in 1926. This property is for sale. Learn more here >

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Just Sold at Wildhorse at Prospect

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Very pleased to announce another successful real estate transaction here in beautiful Crested Butte Colorado. Today, I sold the home located at 29 Appaloosa Road in Wildhorse at Prospect via buyer representation. The four bedroom, 3,500 sft ski home features a spacious bonus room on the lower level, views to the north of the mountains and easy access to the groomed ski slopes of Crested Butte Mountain Resort. This transaction marks my 8th home sale at this awesome luxury ski home community. The property sold for $775,000.

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National Geographic Recognizes Crested Butte

National Geographic Worlds Best Ski Towns

National Geographic named Crested Butte as one of the world’s top 25 ski towns and claimed we are the best option for families hoping to raise the next free skiing world champion! Funny but true!


Here is a tidbit from their article:
Like its Colorado siblings Aspen and Telluride, Crested Butte is a remote, high-elevation former mining town of historic buildings surrounded by spectacular scenery. Crested Butte, though, has a different, more counterculture character than its glossy counterparts—it’s funkier, saltier, more altimeter watch than Rolex. There are restaurants in back-alley log cabins and buildings sided with old license plates, and the free shuttle buses to the ski area are wildly painted by local artists. There are currently no chain stores, and with a population of only 1,487, shopping options may be limited. But that’s the point. You don’t come here to shop or be seen, you come here to ski and to revel in the surrounding Elk Mountains and one of the most eclectic, adventurous playgrounds in the Rockies.


National Geographic

Learn more about the World’s Best 25 Ski Towns here >>>




Just Sold at Prospect in Mt. Crested Butte

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Pleased to announce another successful real estate sale here in beautiful Crested Butte Colorado. This week I represented the buyer on one of Prospect’s finest ski in ski out homesites: 107 Bear Scratch. From the large 1.45 acre parcel, the views of the North Face and Crested Butte’s extreme limits fill the southern skyline and the mountain and East River Valley views to the north will stop you in your ski tracks. Access to the ski slope and the Prospect ski lift is a snap from this homesite. The property sold for $350,000.


About Prospect at Mt. Crested Butte:
With magnificent views of towering peaks, rolling river valleys and unparalleled ski access, it is little wonder that the Prospect neighborhood is an excellent location to build your dream vacation home. This is a unique community tucked up against Mt. Crested Butte offering the best slope side access overlooking the majestic mountains. The Prospect community is the no-compromise choice for private ski-in, ski-out home sites in Crested Butte.


Sold: Prospect Ski In Ski Out Land


Sold: Prospect Ski In Ski Out Land

Just Listed in Town: 711 Teocalli Avenue

Dining and Kitchen

View this Exclusive Listing’s Website >
I just listed this craftsman style property located in the town of Crested Butte. The home is located mid-block on this peaceful stretch of Teocalli Ave in town. The 2,543 SF property enjoys mountain views, good sunlight and a big landscaped and treed yard for summer fun and privacy. Four bedrooms and the gracious open floor plan make this offering perfect for year ’round living or ski and summer vacationing with your friends and family! This parcel is bigger than most comprising three town lots. The detached garage features a bonus room above and the driveway off Teocalli can fit big vehicles. Other highlights include well appointed kitchen and baths, vaulted ceilings, an air lock front entry and a big hot tub out back. The furnishings are included. The home performs very well as a vacation rental too!


Family Room


Living Room


Kitchen


The Master Suite