The Sky Is Not Falling in Crested Butte

Hello from Crested Butte Colorado!

Yes, the economy stinks, national consumer confidence is gone and here in Crested Butte just like other ski resorts around Colorado skier visits are down and real estate sales have cooled off from recent record setting years. But, contrary to some folks’ belief, the sky is not falling in Crested Butte.

It is true that property values have decreased and seller’s are forced to reduce asking prices in order to get their stuff sold. But, there are serious buyers shopping our real estate, getting loans, making offers and real estate is successfully trading hands. There is no denying that significant price reductions have occurred in many of our locations including condo properties in Mt Crested Butte, small vacant homesites in places like Crested Butte South and Buckhorn Ranch and for some of the large 35 acre+ ranch land parcels around the valley.

But these market corrections were going to happen at some point, bad economy or otherwise. Over the last couple of years our inventory levels have climbed to all time highs. This run up in active listings has fueled the already competitive environment for sellers. And now juicy opportunities for buyers are popping up around the market.

For example, active listings in Mt. Crested Butte hit 272 condos and townhomes for sale. Combine that with 70 single family homes for sale and ski area buyers have some serious choices.  Down the mountain in the town of Crested Butte, there are 50 single family homes and 30 condos and townhomes on the market! Buyers are responding to the market conditions and scoring some very nice deals. Here is some sales data to keep you from believing the sky is falling in Crested Butte:

Recent Notable Transactions:

703 Sopris Ave. – 3 Bed Crested Butte Townhome – SOLD at $569,000
714 Teocalli Ave. – Crested Butte Triplex Unit – SOLD at $425,000
319 Mountaineer Square – Mt CB – 2 Bed Condo – SOLD at $885,000
731 Maroon Ave. – Older Crested Butte Home – SOLD at $685,000

Notable Under Contract Activity:

8 Teocalli Avenue – Smaller Crested Butte Home – List Price: $1,095,000
12 Alpine Court – 3 Bedroom Skyland Duplex – List Price: $459,000
522 Shavano – Crested Butte South Home – List Price: $635,900

Thanks for reading today,

Channing Boucher
Visit My Crested Butte Real Estate Guide

 

 

 

 



 

 

 

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