A Look Back at Summer in Crested Butte

Read this Newsletter with Featured Listings

Greetings from Crested Butte,
Our summer season has ended but these September days are still warm, sunny and brilliant. For many, this is the best time of year to be in the Butte. The mid-summer visitors are gone making the trails, peaks, campgrounds and restaurants way more user friendly for locals and guests alike. And, the promise of a fast approaching ski season energizes all of us with excitement. Vail Resort’s Epic Pass is on sale now. If you haven’t purchased a ski pass for this season head over to the Epic Pass site now. Their prices go up as we get closer to opening day. Vail offers a variety of pass options so take advantage now. Paying walk up window lift ticket prices is painful.

Looking back, the summer selling season started off with notable activity around the marketplace then quickly transformed into remarkable activity with record breaking transactions in the town of Crested Butte and up on the mountain. In June, the $3,850M sale of the spec home located 915 Belleview kicked off a series of impressive sales. Since then, four in-town homesites ranging in price from $1M to $1,250M sold off and then the home located at 518 Ninth St. sold at $4.46M smashing the all time sales price and price per SFT record ($1,259/SF) for the town of Crested Butte. So far in 2019, three homes in town have sold above $1,000/SF. Remarkable.

Up on the ski mountain, the new Wildhorse at Prospect spec home located at 14 Appaloosa sold for $1,850,000 making it the highest priced sale year-to-date in Mt Crested Butte and the first time since 2006 a home in this community sold for higher than $500/SF. Equally impressive is the August sale of the 3 bedroom, 1,874 SF home located at 15 Whetstone Road. The chalet style home sold for $1,234M and the $658/SF it fetched makes it the only single family home to sell above $600/SF year-to-date in all of Mt Crested Butte.

Also in Mt. Crested Butte, the North Village parcel comprising 158 acres and located at the base of Snodgrass Mountain was sold by the Mueller family, the former owners of the Crested Butte Mountain Resort ski area. It was last listed for sale at $8.9 million and sold for $5.3 million. The parcel is currently zoned as a Planned Unit Development and at one time was envisioned as a second base area village that would’ve included 1,800 residential units along with commercial and retail to support ski lifts. The U.S. Forest Service eventually rejected the proposal of making Snodgrass a lift-served mountain. It’ll be interesting to see what the new owner of the real estate has in store for such a big and primo location. Read about this sale at the CB News.

The remarkable sales activity continued to the rural parts of our market with the sale of the 3,653 SF home located at 53 Buckhorn Way closing for $1,875M and the highest ever at the Buckhorn Ranch community located 3.5 miles outside of town. And, down in Crested Butte South, 13 single family homes have sold with the closing of the 2,932 SF, five bedroom home at 1556 Bryant Avenue topping the local market with a $910K sale price.

Heading into the Fall season, there are 21 homes under contract ranging in value from a 3-bedroom, 1,294 SF Pitchfork (Mt Crested Butte) home listed for $564K to the $3,375M ranch listing at Trappers Crossing Crested Butte. There are 19 condos and townhomes under contract currently ranging in value from a $220K, 2 bedroom Three Seasons condo (Mt. Crested Butte) to $1.3M for a 3,502 SF, four bedroom Villas townhouse (Mt. Crested Butte).

Thanks for reading today. For a deeper perspective on our local market please contact me anytime.

Channing Boucher
Broker Associate
LIV Sothebys International Realty
401 Elk Avenue
Crested Butte CO 81224
970-596-3228