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Happy New Year This December delivered plenty of holiday gifts to the valley, all wrapped in white; and CB Ski Patrol has been hard at work opening the resort’s legendary extreme terrain. The past two storm cycles dropped an unbelievable 6 additional feet of snow, bringing the year-to-date snow total to over 200 inches. Conditions on the mountain are fantastic and both locals and tourists alike are enjoying the early-season skiing & riding. With this much snow prior to January 1st, Crested Butte has been all over the news. Now Taking New Listings Have you been thinking about selling your Crested Butte property in this dynamic environment? Our ideal office location, unparalleled marketing presence and close relationship with the other elements of Crested Butte Mountain Resort provide an advantage in this challenging market. Stop by our office in the courtyard of Mountaineer Square to learn more about how we can help sell your property or call Trip Cunningham and Bo Stambaugh at 970.349.4999. Featured Listing
Please contact Trip Cunningham for additional information or to schedule a tour. 2010 Market Update There are signs of a market stabilization and very compelling value compared to other resorts. Looking at 2010 to 2009 residential sales numbers in the East River Valley, number of sales are up 7.6%, dollar volume is up 4.2% and days on market has gone down 7%. Average sales price is down 3.1% to $518,754 and average $ per square foot is down 8.4%. This reduction in sales price and $/SF slowed drastically compared to the previous two years. Combining this with the notable clearing of bank-owned and distressed properties, it is reasonable to say that the market is stabilizing. Click here to see the residential sales report. An example of market stabilization has been seen at the Lodge at Mountaineer Square, where 19 properties sold in 2010, some at full list price or higher. As the inventory has greatly thinned, aggressively-priced properties have drawn significant attention and sometimes multiple offers. Putting this in the context of Colorado ski resort markets over the last three years, Crested Butte has seen a major and relatively quick correction that means historically low prices and great value. Also, compared to other areas there is not a glut of new projects and so scarcity of new product could soon be a reality. Based on MLS and assessor numbers from the below markets and focusing on newer base area condos that have sold in the last year, the current opportunity is demonstrated:
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New! Market Alerts We are dedicated to sharing the latest and most relevant real estate information with you. In February, we will begin sending an additional Market Update email including information on “hot deals” and noteworthy changes in the marketplace. Please click here if you would like to subscribe to this mailing list in addition to the current newsletter. The Time is Now - Tipple House Price Reduction The Tipple House now $2.95M from the original $6M represents the chance to own a Crested Butte masterpiece at a phenomenal value with an easy transaction. This is a short sale and the window of opportunity is closing soon. Prospect at Mt. Crested Butte Want your own ski-in, ski-out custom built home? With the goal of making the realization of your ideal mountain retreat as affordable and seamless as possible, we’re offering the
Elk Mountain Real Estate Review Crested Butte Resort Real Estate recently featured new listings in the Elk Mountain Real Estate Review. As a full service real estate brokerage, we can help you explore all of the properties listed in the Review, any of our featured properties as well as any others that might meet your needs. Please contact us for more information or to schedule a tour.
The Crested Butte Mountain Club Inspire Your Passion for Crested Butte even further with the CB Mountain Club. Take advantage of the unrivaled amenities of the club to take your experience to a new level.
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