Buyer’s Guide to Crested Butte, CO

Buyer’s Guide to Crested Butte, CO
By Channing Boucher, January 2006.  Channing Boucher is a Broker Associate at EagleBrooke Realty in Crested Butte, CO. 

Crested Butte and Mt. Crested Butte Real Estate have begun to see their segment of interested and diverse buyers grow, as their inventory of developable land continues to shrink relative to increasing demand.  The region’s breathtaking beauty and relaxed sophistication, its resonant mining history, topflight restaurants, and multiple recreational and sporting opportunities, add to the allure of continued market strength in the future.

Crested Butte Mountain Resort is betting on future growth as well.  Continuous improvements to the ski area’s infrastructure, including new conference center, recreation center, expanded snow making, a new grooming fleet, and improved guest services, make for an all-around, more desirable vacation destination.

With similar trends occurring in mature markets such as Aspen, Vail/Beaver Creek, Telluride, Jackson Hole and Sun Valley, remarkably Crested Butte remains well priced, and offers many more opportunities for the new buyer and savvy investor.   

Town of Crested Butte- Market Report – 2005

Single Family Residential

Total Volume:                           $27,196,901

Average Price:                          $906,563

Median Price:                           $872,750

                                                30 Sold

Average DOM:                        218

Low Price:                                $327,500

High Price:                                $1,900,000

Land

Total Volume:                           $12,678,500

Average Price:                          $633,925

Median Price:                           $562,500

                                                20 Sold

Average DOM:                        265

Low Price:                                $197,000

High Price:                                $2,500,000

Condominium

Total Volume:                           $10,399,000

Average Price:                          $415,960

Median Price:                           $370,000

                                                25 Sold

Average DOM:                        214

Low Price:                                $160,000

High Price:                                $949,000

Town of Crested Butte Mountain- Market Report

Single Family Residential

Total Volume:                           $24,335,500

Average Price:                          $785,016

Median Price:                           $610,000

                                                31 Sold

Average DOM:                        236

Low Price:                                $315,000

High Price:                                $1,900,000

Land

Total Volume:                           $21,806,900

Average Price:       &nbsp
;                  $623,054

Median Price:                           $430,000

                                                35 Sold

Average DOM:                        398

Low Price:                                $190,000

High Price:                                $3,840,000

Condominium

Total Volume:                           $51,349,935

Average Price:                          $356,597

Median Price:                           $335,000

                                                144 Sold

Average DOM:                        161

Low Price:                                $89,000

High Price:                                $1,250,000

The population of retired Americans is growing rapidly.  Every 7 seconds someone turns 50 years old in the US.  These “Baby Boomers” are seeking to buy the best in vacation and retirement real estate over the next 15 years, research supports that 22% seek a residence in the mountains.  This trend is predicted to continue until at least the year 2019.

The trend is so great that the National Association of Realtors has formally designed a “Resort and Second Home Division” in the interest to service this specific target audience.  The Realtor certification is referred to as a “Resort and Second Home Property Specialist, (RSPS).

The following information was gathered from the CBMR Media Guide for Winter Season 2005/2006.

Tim and Diane Mueller

Crested Butte is the latest jewel in a portfolio of resort developments privately owned and operated by the dynamic husband and wife team of Tim and Diane Mueller. Widely respected throughout the American ski industry, the Mueller’s’ first project involved the successful transformation of Vermont’s Okemo Mountain Resort into one of the top ski resorts in the east. Their winning ways continued with Sapphire Beach Resort and Marina on the island of St. Thomas as well as the successful redevelopments of both Mt. Sunapee in New Hampshire and Catamount at Steamboat.
Tim and Diane bring a refreshing hands-on style of management to Crested Butte Mountain Resort: emphasizing superior guest service and uncompromised quality across the board. Their long-term vision is to vault Crested Butte into the top rank of North American ski resorts, not by being the biggest – but by being one of the best. As president and CEO of their company, Three Peaks Development, Tim Mueller oversees the direction, vision and financial health of the resort, while Diane focuses on “softer” aspects, like guest services, human resources and aesthetics. Three Peaks is truly a family-run operation, with son Ethan stepping into the role of Director of Operations for Crested Butte where he now resides full-time.
As a family, the Mueller’s are linked by their love for the great outdoors. Tim is an avid skier, duck hunter, bow hunter, fisherman, as well as an American history buff. His energetic wife, Diane is also a skier, sailor and marathon runner with an impressive background in fine arts and education. Their son, Ethan, is the Alpine specialist of the clan with favorite sports including snowboarding, skiing, hunting, fishing and mountain biking. No wonder why they already feel right at home at Crested Butte.

Future Development

CBMR has initiated the planning and discussion process for expanding skiing onto nearby Snodgrass Mountain. The expansion could add about 400 acres of predominately intermediate skiing within a few years. “Alpine skiing on Snodgrass is important to our success as a community. We intend to build upon the attributes of the mountain with a Master Plan of improvements that will take place over time and will be in keeping with responsible, planned growth and development that remains consistent with our standards of environmental responsibility and commitment.” Tim Mueller.

Your Mountain Home

Whether you are looking for a quiet home site with convenient access to the slopes or a residence at the center of what is becoming the vibrant heart of Mt. Crested Butte, Crested Butte Mountain Resort Real Estate has what you’re looking for. From the inspired ski-in/ski-out home sites of Prospect, to the new base village, Mountaineer Square, to the view-oriented Villas, you’ll find your own special place in a vast and wild territory.

Mountaineer Square
The master planned Mountaineer Square is the new lively center of the Mt Crested Butte community providing a sense of place via a well designed mixed-use village. Mountaineer Square represents one of the first major development / redevelopment opportunities at Mt Crested Butte.

Prospect
The ski-in/ski-out home sites at Prospect are the perfect place to build the custom home of your dreams. With pristine views and in a secluded neighborhood, Prospect provides the rare chance to own a new slope-side home at one of Colorado’s great destination resorts.

The Villas Summit
The new Villas Summit four bedroom ski homes offer an extraordinary combination of views, location and luxury. Positioned at the top of the Villas neighborhood, the choice becomes yours; hit the slopes, which are just a few short steps away, or stay in and enjoy your spacious mountain home.

Mountain Facts and Stats At-
a-Glance

Location:
Crested Butte is located in southwest Colorado, within the Gunnison National Forest and the Elk Mountain Range of the Colorado Rocky Mountains. The resort lies in the town of Mt. Crested Butte, three miles from the town of Crested Butte, one of Colorado’s largest National Historic Districts, originally settled in the 1880s as a mining supply camp.

Permanent population:
Mt. Crested Butte – 707
Crested Butte – 1,629

Distance from major centers:
30 miles/ 48 km north of Gunnison
230 miles/ 368 km southwest of Denver
90 miles/ 144 km northeast of Montrose
197 miles/ 315 km west of Colorado Springs
17 air miles/ 27 km (and one very big mountain range) from Aspen. Two and ½ hour drive in the summer, approximately four to five hour drive in the winter. (Kebler Pass is closed during winter months)

Nearest airport:
Gunnison/Crested Butte Airport (GUC), 31 miles/ 48 km to the south. Montrose Airport (MTJ) 96 miles.

Airlines:
New this year, United Airlines offers seasonal daily Airbus jet service from Denver to the Gunnison/Crested Butte Airport. Crested Butte is one of two ski areas to offer United Airlines, non-stop daily Air-Bus winter jet service. In addition, United Express provides up to three daily connections via Denver to Gunnison/Crested Butte year-round. Also new this winter, American Airlines will provide non-stop daily 757-jet service from Dallas to Gunnison/Crested Butte with additional Saturday flights during peak periods. E

Season dates:
November 19, 2005 to April 9, 2006

Lift operating hours:
9:00 a.m. – 4:00 p.m.
(High Lift & East River Lift close at 3:30 pm. North Face Lift closes at 3:00 pm)

Summit elevation:
12,162 ft/ 3,707 m

Base elevation:
9,375 ft/ 2,856 m

Lowest lift:
9,100 ft/ 2,774 m

Vertical:
2,775 ft/ 846 m — lift-served
3,062 ft/ 933 m — requires short hike to Peak

Terrain:
1125 acres

Snowmaking:
282 acres of terrain covered by 13 of 15 lifts

Lifts:
15 total— 3 high-speed detachable quad chairs, 2 fixed grip quad, 3 triple chairs, 3 double chairs, 2 surface lifts, 2 Magic Carpets™

Lift capacity:
19,850-people/hour

Trails:
121 total — 23% beginner, 57% intermediate, 20% advanced

Longest run:
2.6 miles/ 4.2 km (Peak to Treasury)

Superpipe:
Located at the top of Forest Queen. The dimensions for the superpipe are: 55’ wide, 18’ high, and a slope of 17 degrees

Terrain parks:
The Canaan Terrain Park , (2600 foot park) located under the Paradise Lift includes jumps of various shapes, sizes and sequences and a dozen or so rail features for intermediates to advanced riders. The popular Kid’s Park is located off the Painter Boy lift and open to skiers, snowboarders and snowskates. The park includes beginner hits and features that include rails, tabletops, rolls and a mini halfpipe. Open to all ages.

Tubing Hill:
In case your kids aren’t tired enough, a children’s tubing hill will be available during the day at the top of Painter Boy and after the lifts close at the base of the Red Lady Express. This hill is lit for nighttime tubing.

Atlas snowshoe loop:
2 miles/ 1.2 km
Two daily tours available/moonlight tours available in January, February and March

Average annual snowfall:
240 inches/ 610 cm

Lodging bed base:
Mt. Crested Butte – 5,000 pillows
Crested Butte – 550 pillows

Bars and restaurants:
On-mountain— 5
Mt. Crested Butte— 8
Crested Butte— 28

At-window ticket pricing:
Adults
1-Day/ $69
2-Day/ $138
3 out of 5 Day/ $198
4 out of 6 Day/ $260
5 out of 7 Day/ $315
6 out of 8 Day/ $372
7 out of 10 Day/ $427
Discounted lift ticket packages available year-round through Crested Butte Vacations, 800-810-SNOW

Skier Days:
1999/2000 – 414,642
2000/2001 – 367,263
2001/2002 – 336,483
2002/2003 – 342,416
2003/2004 – 333,011
2004/2005 – 376,000

Activities for the Disabled:
The Adaptive Sports Center (ASC) of Crested Butte provides year-round outdoor recreation activities for people of all disabilities. Winter programs include adaptive instruction for alpine skiing, nordic skiing and snowboarding. Lessons include private instruction, a lesson-only lift ticket and equipment. The ASC also has an extensive summer program. For more information, call (866) 349-2296 or visit their website at www.adaptivesports.org.

Nordic Skiing:
The Crested Butte Nordic Center, located in historic Crested Butte, provides 35 kilometers of groomed trails for traditional and skate skiing (trail pass required), an ice rink, snowshoeing (trail pass required) and sledding hill. The Nordic Center also provides rentals, lessons and guided backcountry tours in the Gunnison National Forest. Call (970) 349-1707 for more information or visit their website at www.cbnordic.org

Best Known For:
The historic town, the nightlife, fun and excitement, and the resort’s “Extreme Limits” terrain, offering some of the best extreme skiing in the world. Home of “Colorado’s Best Corduroy” and “Dreampipe”, the superpipe with a view!
Home of Colorado’s first X-Games, the legendary SAAB U.S. Extreme Freeskiing and U.S. Extreme Boarderfest Championships, the U. S. Extreme Freeskiing Telemark Championships, a Randonnee Rally and the Elk Mountain Grand Traverse.

Uniquely:
Ask people visiting Crested Butte, and words like authentic, exciting, genuine, unpretentious and fun come up again and again. It’s the perfect place to disconnect—-and reconnect with family and friends.
 
Bustling with action, but laid back in attitude, you can feel the vitality as you wander through the quaint, Victorian historic district with its choices for fine dining, brew pubs, shopping and nightlife.
The town boasts one of Colorado’s largest National Historic Districts, with charm impossible to convey in words. Although “sophisticated” and “charming” are words synonymous with Crested Butte, this doesn’t mean the town hasn’t kept a bit of its irreverence.
Crested Butte is the only North American home of Club Med, “The Granddaddy of All-Inclusive Resorts,” Club Med Crested Butte, is an all-inclusive family destination and ski village, providing meals, beer and wine, ski school, mini club for the kids, lodging and lift tickets. After only five years of operation, slope-side Club Med Crested Butte boasts the highest guest satisfaction scores worldwide.

BUYER RECOURCES

I encourage you to find out all there is to know about The Crested Butte and Mt. Crested Butte Community.  Below you will find a list of websites that will help you start your search.