The Evolution of a Luxury Marketplace
Season’s Greetings from Snowy Crested Butte!
It’s been just over six years since Vail Resorts came to town and acquired the ski area. 2019 was the company’s first full year operating in Crested Butte and since then our local real estate marketplace has undergone a massive transformation. *Vail closed on Crested Butte in September of 2018.
I pulled together some interesting data for the value of single family homes sold in the Upper Valley market area that includes properties sold in Crested Butte rural locations including Skyland, Buckhorn Ranch and Larkspur, the Town of Crested Butte and Mt. Crested Butte. See table below. It’s pretty wild to see how far we’ve come in such a short amount of time. We’ve basically doubled both the median and average sales prices of a home in six years. You’ll notice I included 2018 at the table found at this link to show where we were just prior to the Vail Resorts takeover.
This year we’ve seen amazing values fetched for homes and we hit an all time high for the market for a home on 35 acres at Smith Hill Ranches located between Crested Butte and Mt Crested Butte. That property sold at just under $12M. Impressive.
Here is a look at the top eight home sales year-to-date. Click Here to View Listings
Thanks for reading today. Reach out anytime for a deeper perspective our local real estate market!
Channing Boucher
LIV Sothebys International Realty – Crested Butte
970-596-3228
