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CRESTED BUTTE & GUNNISON

Quarterly Report

Third Quarter of 2014


Contents 3 Overall Market Update 8 4 Single Family Market 10 6 Area Map 11 7 Condo and Townhome Market 12

Land Market Significant Sales Our Office Update Contact Us

Total Sales Volume Q1 to Q3 of 2014 Gunnison County

Total Transactions Q1 to Q3 of 2014 Gunnison County Percentage up Q1 to Q3 of 2014 Gunnison County

2 | 401 Elk Avenue | 970.349.6653

$108.2 240 0.3%

Million

$136.2 365 0.1%

Million

Quick Hits Total Sales Volume Q1 to Q3 of 2014 Upper Valley Total Transactions Q1 to Q3 of 2014 Upper Valley Percentage down Q1 to Q3 of 2014 Upper Valley


Overall Market Update

The third quarter ended up being as strong as predicted. The sales in the third quarter helped our market rebound and we are now slightly above the pace of 2013 sales volume. The strongest sector of our market has been single family homes, condos and townhomes within the town of Crested Butte as prices and sales volume have risen significantly. There have also been more condos in Mt. Crested Butte sold this year compared to last year with 22 more units selling in 2014. All other residential sectors have been steady compared to last year except for single family homes in Rural Crested Butte with the number of transactions in the Rural Crested Butte area lagging. As we enter the off season between fall colors and the holiday season, we expect our year end market for 2014 to grow over 2013. We are encouraged by the 104 properties that are currently under contract in the Gunnison County with over $49.3 million in listing volume. If the majority of these properties close we will be slightly above our 2013 sales volume. Plus any properties that go under contract and close before the end of the year should get our market to a healthy 5 to 7 percent growth for 2014. Upper Valley - January to September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

2013

2014

$250,000 $419,483 320 $4,250,000 $4,000 257 92.0% $107,807,141

$275,000 $450,664 297 $3,275,000 $13,000 240 89.3% $108,159,525

All Properties in Crested Butte, Mt. Crested Butte, Rural Crested Butte, CB South and Almont

BensonSothebysRealty.com | 3


Bob Brazell Photography

Single Family Market

194 Meadow Drive | Offered for $3,650,000

Town of Crested Butte | Single Family Homes

January to September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

2013

2014

$681,375 $800,208 390 $1,900,000 $210,000 18 95.5% $14,403,755

$825,000 $1,023,459 234 $2,240,000 $465,000 21 94.8% $21,492,650

Mt. Crested Butte | Single Family Homes January to September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

2013

2014

$850,000 $1,103,390 332 $4,250,000 $280,000 17 90.8% $18,757,630

$614,450 $711,477 293 $1,375,000 $258,000 20 91.4% $14,229,550

Rural Crested Butte | Single Family Homes January to September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

4 | 401 Elk Avenue | 970.349.6653

2013

2014

$530,000 $821,828 327 $3,700,000 $165,000 35 91.1% $28,764,000

$742,500 $1,087,416 263 $3,275,000 $240,000 18 81.9% $19,573,500


535 Journey’s End Road | Offered for $4,595,000

Bob Brazell Photography

Single Family Market

Crested Butte South | Single Family Homes January to September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

2013

2014

$350,000 $376,223 137 $589,000 $350,000 13 96.1% $4,890,900

$454,500 $429,080 241 $571,000 $273,300 10 95.9% $4,290,800

Rural Gunnison and Surrounding | Single Family Homes January to September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

2013

2014

$216,606 $288,418 259 $1,675,000 $72,000 52 93.0% $14,997,773

$295,000 $308,049 278 $850,000 $17,500 53 94.5% $16,326,609

Town of Gunnison | Single Family Homes January to September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

2013

2014

$233,750 $252,713 211 $450,000 $110,000 30 96.5% $7,581,400

$189,900 $221,821 249 $384,000 $135,000 19 96.2% $4,214,600

BensonSothebysRealty.com | 5


822 Sopris Avenue | Offered for $1,950,000

Bob Brazell Photography

Area Map Meridian Lake Park

Skyland Trappers Crossing

Crested Butte South

Red Mountain Ranch Reserve on the East River Danni Ranch

Ohio Creek Valley

Blue Mesa Reservoir

6 | 401 Elk Avenue | 970.349.6653


Snowcrest Condos | Offered for $189,000

Condo and Townhome Market

Town Crested Butte | Condos and Townhomes January to September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

2013

2014

$282,000 $238,532 163 $368,508 $62,281 9 95.1% $2,146,789

$450,000 $428,886 309 $730,000 $192,500 11 94.5% $4,717,750

Mt. Crested Butte | Condos and Townhomes January to September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

2013

2014

$186,100 $257,750 213 $932,500 $43,000 67 92.6% $17,269,281

$193,500 $249,257 250 $1,487,500 $55,000 89 92.9% $22,183,939

Rural Crested Butte and Gunnison Areas | Condos and Townhomes January to September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

2013

2014

$175,000 $211,202 202 $750,000 $49,900 51 90.5% $10,771,350

$170,000 $217,142 243 $605,000 $35,000 35 94.9% $7,599,986

BensonSothebysRealty.com | 7


Land Market

Town of Crested Butte | Residential Lots

January to September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

2013

2014

$571,500 $631,642 305 $1,250,000 $85,000 7 92.0% $4,421,500

$425,000 $425,000 329 $550,000 $300,000 2 97.1% $850,000

Mt. Crested Butte | Residential Lots January to September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

2013

2014

$136,000 $141,050 447 $325,000 $30,000 10 89.3% $1,410,500

$157,000 $181,625 716 $500,000 $61,000 8 70.1% $1,453,000

Rural Crested Butte | All Lots and Land January to September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

8 | 401 Elk Avenue | 970.349.6653

2013

2014

$130,793 $182,364 437 $1,150,000 $25,500 26 87.7% $4,741,486

$205,000 $209,318 485 $360,000 $94,000 11 94.3% $2,302,500


Land Market

Crested Butte South | Residential Lots January to September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

2013

2014

$28,500 $35,958 611 $63,750 $20,000 6 86.9% $215,750

$46,000 $62,000 350 $185,000 $32,000 9 94.9% $558,000

Rural Gunnison | All Lots and Land January to September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

2013

2014

$76,250 $86,996 300 $290,000 $8,500 14 91.6% $1,217,950

$75,000 $301,740 454 $1,750,000 $21,000 25 75.6% $7,543,500

Gunnison County | All 11+ Acre and Over Parcels January to September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

2013

2014

$127,000 $248,454 287 $1,150,000 $35,000 12 86.0% $2,981,450

$215,000 $496,821 534 $1,750,000 $49,000 14 76.6% $6,955,500

BensonSothebysRealty.com | 9


Significant Sales in Third Quarter of 2014

757 and 717 Ridge Drive | Rural C.B.

758 Journey’s End Rd | Rural C.B.

Listed by Red Lady Realty Sold by Coldwell Banker Bighorn Realty

Listed by Coldwell Banker Bighorn Realty Sold by Red Lady Realty

130 Whetstone Vista Drive | Rural C.B.

102 and 104 Maroon Ave | Crested Butte

Listed by Benson Sotheby’s International Realty Sold by Crested Butte Resort Real Estate

Listed by Premier Mountain Properties Sold by Benson Sotheby’s International Realty

301 Butte Avenue | Crested Butte

TBD Wildwater Way | Almont Area

Listed by Keller Williams Realty Sold by Benson Sotheby’s International Realty

Co-Listed by Wilder on the Taylor and Coldwell Banker Bighorn Realty

Sold for $3,275,000

Sold for $2,425,000

Sold for $1,950,000

10 | 401 Elk Avenue | 970.349.6653

Sold for $3,200,000

Sold for $2,240,000

Sold for $1,750,000


Benson Sotheby’s International Realty Stats • We are the leading real estate brokerage in Crested Butte by over $9.3 million in total sales volume compared to our closest competitor in the first three quarters of 2014. • Our office currently has a 30% market share of sales volume in 2014 in the Crested Butte area. • We have been involved in 141 sides of the total transactions, which is the most in the Crested Butte area. • We have sold over $28.9 million worth of listings in 2014, which is the most in the Crested Butte area. • Our brokers have been very successful in the first three quarters of 2014. • The top 2 brokers in sales volume in Crested Butte are from our office while 4 of the top 7 are from our office. • The top listing broker in Crested Butte is from our office. • The top 3 selling brokers in Crested Butte are from our office. All data was pulled from the Gunnison County Association of Realtors MLS. Verify with a local Realtor. All information is deemed reliable but not guaranteed. Each office is independently owned and operated.

BensonSothebysRealty.com | 11


Contact Us

If you would like more information about this Quarterly Market Report or would like to view properties in the Crested Butte and Gunnison area please contact one of our knowledgeable brokers.

Cathy Benson 970.209.5015

Sam Lumb

Channing Boucher

Corey Dwan

Gary Huresky 970.209.2421

970.275.2554

970.596.3228

970.596.3219

Kiley Flint

970.275.2448

970.275.9357

Jaima Giles

Karen Redden

Megan Clark

Larry Neilson

Katy Mattson

Jill Matlock

Jamie Watt

Wayne Meredith

Dustin Kujawski

970.275.4601

970.275.0595

Follow Us

970.209.5943

970.209.2675

970.209.3537

970.209.2706

970.209.7849

970.349.6653

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Profile for Crested Butte Sotheby's International Realty

Quarterly Report - Third Quarter of 2014 - Crested Butte and Gunnison  

The third quarter ended up being as strong as predicted. The sales in the third quarter helped our market rebound and we are now slightly ab...

Quarterly Report - Third Quarter of 2014 - Crested Butte and Gunnison  

The third quarter ended up being as strong as predicted. The sales in the third quarter helped our market rebound and we are now slightly ab...