Sothebys Quarterly Market Report – Q1 2017
2017 began with snow…lots of snow. January alone saw 136 inches of the white stuff. It created a difficult situation as potential buyers could barely see the outside of most homes as snow piled up past the roof lines. A welcome situation for skiers, Mother Nature tried but didn’t seem to stop our local real estate market. The single family home segment of our market was up in all rural locations. Rural Crested Butte, Crested Butte South, Almont and rural Gunnison areas all enjoyed sales volume increases between 12% and 21%. Due to decreasing inventory levels and increasing prices sales volume was down significantly in Crested Butte, Mt. Crested Butte and Gunnison, between -16% and -65%.
Who Is Buying Crested Butte?
Just like last year, the 2017 market for condos and townhomes is as strong as ever. We’ve seen a dramatic 88% increase in ski area condo sales in Mt. Crested Butte. This is due to a serious influx of Denver and Boulder based buyers flocking to Crested Butte and entering our real estate market via the more affordable price points found in the condo and townhome segment. As we enter the second quarter of 2017, we are seeing an increase in sales volume across the county. There are 140 properties currently under contract with a current listing value of over $75 million. Learn more at our Quarter Report below: