The snow gods have blessed our mountains this winter. One of our better starts to a ski season, Crested Butte Mountain Resort has received 81″ of snow so far and the skiing has been fantastic during the holidays.
The 2018 real estate market in Crested Butte is also blessed. Why? Sales volume was steady but activity included a serious sprinkling of impressive sales price records thrown in to spice things up. With comparable sales numbers to 2017, our local market continues to perform. Investment levels were impressive across the market place and values for residential properties remain strong. No doubt prices for homes and condos are high but there are still opportunities for would-be investors particularly for land and homesite offerings. Read last months newsletter to learn more.
2018 Market Facts & Figures
From Almont to Mt. Crested Butte, we’ve realized just over 300 residential transactions. 119 single family homes sold representing over $126 million in volume. Last year we realized 125 home sales. 49 of these homes sold at or above $1 million compared to 48 sold in 2017. Median home prices hit $875,000 and days on market dropped to 225. By comparison, last year median homes prices hovered around $900,000 and days on market was 235. Also, 180 condos and town houses sold this year representing over $71 million in volume. Median sales prices hit $345,000 which is higher than last year’s $315,000 average.
This year’s highest priced real estate transaction occurred in the town limits of Crested Butte where values per SFT and per acre are the highest in all of Gunnison County. 501 Gothic sold for $3.850 million and $916/SFT. This is an all-time sales record for the Town beating the previous record of $2.850 million in 2017.
Out at the Crested Butte Country Club, the highest all time sales price for a home located on the golf course occurred when 181 Fairway fetched $1.765 million. At Buckhorn Ranch, a newly built 2,422 SF home located on White Stallion Circle sold at $1.075 million and almost $450/SFT which is an all time price per SFT record for this community. And, at Larkspur, the home located at 507 Larkspur Loop sold originally in August 2017 for $990,000 and sold again 12 months later for $1.355 million and just over $510/SFT. This is the all time highest price ever paid for a home at this community.
Down valley at Crested Butte South, sales records are becoming the norm as prices and demand absolutely skyrocketed. 35 homes sold this year. 14 of the 35 sales were above $600,000 and 3 homes sold above $900,000. Up in Mt. Crested Butte, the all-time sales price record for Eagles Nest town houses occurred when Unit #7 sold for $480,000 and $404/SFT.
