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B E N S O N S OT H E B Y ’S I N T E R N AT I O N A L R E A LT Y

QUARTER REPORT First Quarter 2016


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

Quick Hits

$30.9 Million

Total Sales Volume For Q1-2016 in the Upper Valley

61

Total Transactions For Q1-2016 in the Upper Valley

27%

Percentage Up For Q1-2016 in the Upper Valley

2 | 401 Elk Avenue // 970.349.6653

QUARTER REPORT FIRST QUARTER 2016


Overall Market Update During the first quarter of 2016 we’ve had an influx of both second homeowners and tourists alike. Our restaurants and watering holes have been full to capacity every weekend with everybody enjoying the entertainment scene in Crested Butte. The ski resort closed last Sunday to a very enthusiastic last day of great skiing, fun costumes and crazy antics. Getting to the really important things… statistics. We’re excited about our average price and sales volume being up 49.9% and 27% respectively. Fewer properties sold this quarter compared to 2015’s first quarter yet the gains were highest in residential sales. The residential markets were up in every micro market except Crested Butte South. Land sales were unpredictable as most people would like to see the bare ground before buying! We are off to a great start for 2016 and expect our busiest season, summer, to grow again this year. With sales volume slightly down due to a smaller inventory we will continue to see growth in average prices throughout the market. All Properties UPPER VALLEY (Crested Butte, Mt. Crested Butte, Rural Crested Butte, CB South and Almont)

January to March Average Price Average Price per Square Foot Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold

QUARTER REPORT FIRST QUARTER 2016

2015

2016

% Change

$338,895 n/a 355 $1,450,000 $25,000 72 92.3% $24,400,500

$508,094 n/a 317 $2,389,398 $25,000 61 93.7% $30,993,748

49.9% n/a -10.7% 64.8% 0.0% -15.3% 1.5% 27.0%

BensonSothebysRealty.com | 3


Single Family Market Single Family Homes Crested Butte

January to March Average Price Average Price per Square Foot Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold

2015

2016

% Change

$764,285 $394.75 398 $1,075,000 $290,000 7 93.6% $5,350,295

$1,523,879 $599.01 204 $2,389,398 $730,000 5 95.4% $7,619,398

99.4% 51.7% -48.7% 122.3% 151.7% -28.6% 1.9% 42.4%

Single Family Homes Mt. Crested Butte

January to March Average Price Average Price per Square Foot Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold

2015

2016

% Change

$684,250 $317.59 171 $1,450,000 $315,000 4 95.5% $2,737,000

$1,665,666 $425.22 431 $2,250,000 $647,000 3 92.6% $4,997,000

143.4% 33.9% 152.0% 55.2% 105.4% -25.0% -3.0% 82.6%

Single Family Homes Rural Crested Butte

January to March Average Price Average Price per Square Foot Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold

4 | 401 Elk Avenue // 970.349.6653

2015

2016

% Change

$863,875 $354.16 502 $1,375,000 $535,000 4 93.2% $3,455,500

$1,316,666 $372.07 169 $1,700,000 $900,000 3 93.5% $3,950,000

52.4% 5.1% -66.3% 23.6% 68.2% -25.0% 0.3% 14.3%

QUARTER REPORT FIRST QUARTER 2016


Single Family Market Single Family Homes CB South

January to March Average Price Average Price per Square Foot Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold

2015

2016

% Change

$395,625 $213.08 142 $475,000 $300,000 4 95.7% $1,582,500

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Single Family Homes Rural Gunnison, Almont and Surrounding Areas

January to March Average Price Average Price per Square Foot Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold

2015

2016

% Change

$486,375 $206.82 180 $1,845,000 $163,000 8 93.1% $3,891,000

$351,741 $184.93 157 $642,000 $180,000 12 94.4% $4,220,900

-27.7% -10.6% -12.8% -65.2% 10.4% 50.0% 1.4% 8.5%

Single Family Homes City of Gunnison

January to March Average Price Average Price per Square Foot Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold

QUARTER REPORT FIRST QUARTER 2016

2015

2016

% Change

$261,642 $128.86 420 $357,000 $130,500 7 96.7% $1,831,500

$234,140 $161.96 346 $385,000 $155,000 10 96.8% $2,341,400

-10.5% 25.7% -17.6% 7.8% 18.8% 42.9% 0.1% 27.8%

BensonSothebysRealty.com | 5


6

Overview Map Legend

1

Crested Butte

2 Mt. Crested Butte 3 Skyland - Golf 4 CB South 5 Gunnison 6 Almont 6 | 401 Elk Avenue // 970.349.6653

QUARTER REPORT FIRST QUARTER 2016


Condo and Townhome Market Condos and Townhomes Crested Butte

January to March Average Price Average Price per Square Foot Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold

2015

2016

% Change

$385,000 $297.99 235 $385,000 $385,000 1 90.6% $385,000

$475,125 $321.71 190 $965,000 $170,000 4 90.1% $1,900,500

23.4% 8.0% -19.1% 150.6% -55.8% 300.0% -0.6% 393.6%

Condos and Townhomes Mt. Crested Butte

January to March Average Price Average Price per Square Foot Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold

2015

2016

% Change

$212,875 $208.06 311 $525,000 $59,000 16 93.5% $3,406,000

$330,646 $267.91 347 $678,300 $43,450 16 95.3% $5,290,350

55.3% 28.8% 11.6% 29.2% -26.4% 0.0% 1.9% 55.3%

Condos and Townhomes Rural CB, CB South, Almont, Rural Gunnison and City of Gunnison

January to March Average Price Average Price per Square Foot Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold

QUARTER REPORT FIRST QUARTER 2016

2015

2016

% Change

$130,322 $132.73 221 $280,000 $33,000 9 94.0% $1,172,900

$214,544 $172.97 499 $481,500 $88,000 9 96.8% $1,930,900

64.6% 30.3% 125.8% 72.0% 166.7% 0.0% 3.0% 64.6%

BensonSothebysRealty.com | 7


Land Market Residential Lots Crested Butte

January to March Average Price Average Price per Acre Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold

2015

2016

% Change

$451,142 $2,506,349.21 383 $650,000 $90,000 7 94.9% $3,158,000

$590,000 $2,901,639.34 418 $715,000 $405,000 3 96.2% $1,770,000

30.8% 15.8% 9.1% 10.0% 350.0% -57.1% 1.4% -44.0%

Residential Lots Mt. Crested Butte

January to March Average Price Average Price per Acre Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold

2015

2016

% Change

$351,250 $450,320.51 875 $510,000 $170,000 4 71.9% $1,405,000

$234,100 $416,548.04 276 $495,000 $157,500 5 93.5% $1,170,500

-33.4% -7.5% -68.5% -2.9% -7.4% 25.0% 30.0% -16.7%

All Lots and Land Rural Crested Butte

January to March Average Price Average Price per Acre Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold

8 | 401 Elk Avenue // 970.349.6653

2015

2016

% Change

$101,750 $306,015.04 289 $225,000 $25,000 12 91.4% $1,221,000

$133,500 $26,449.93 332 $275,000 $25,000 11 84.8% $1,468,500

31.2% -91.4% 14.9% 22.2% 0.0% -8.3% -7.2% 20.3%

QUARTER REPORT FIRST QUARTER 2016


Land Market Residential Lots CB South

January to March Average Price Average Price per Acre Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold

2015

2016

% Change

$55,416 $145,833.33 256 $85,000 $30,000 6 96.7% $332,500

$61,250 $167,808.22 265 $68,000 $54,000 4 87.2% $245,000

10.5% 15.1% 3.5% -20.0% 80.0% -33.3% -9.8% -26.3%

All Lots and Land Rural Gunnison, Almont and Surrounding Areas

January to March Average Price Average Price per Acre Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold

2015

2016

% Change

$176,750 $3,301.06 783 $682,500 $30,000 6 92.8% $1,060,500

$66,091 $33,605.93 212 $145,000 $15,000 6 90.9% $396,550

24.9% -18.8% 20.1% 166.4% -70.0% 6.1% 6.8% 32.5%

All Parcels (11 or More Acres) Gunnison County

January to March Average Price Average Price per Acre Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold

QUARTER REPORT FIRST QUARTER 2016

2015

2016

% Change

$449,250 $2,848.94 802 $682,500 $216,000 2 95.6% $898,500

$190,000 $8,435.07 395 $270,000 $110,000 2 94.1% $380,000

-57.7% 196.1% -50.7% -60.4% -49.1% 0.0% -1.6% -57.7%

BensonSothebysRealty.com | 9


Significant Sales for Q1-2016

606 Ninth Street | Town of C.B.

29 Summit Road | Mt. C.B.

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

Listed by Coldwell Banker Bighorn Realty Sold by Keller Williams Realty

16 Walking Deer | Mt. C.B.

311 Teocalli Avenue | Town of C.B.

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

Listed by Coldwell Banker Bighorn Realty Sold by Coldwell Banker Bighorn Realty

455 Oversteeg Gulch | Rural C.B.

28 Gothic Avenue | Town of C.B.

Sold for $2,389,398

Sold for $2,100,000

Sold for $1,700,000

Listed by Benson Sotheby’s International Realty Sold by St. James Sporting Properties

10 | 401 Elk Avenue // 970.349.6653

Sold for $2,250,000

Sold for $1,785,000

Sold for $1,625,000 Listed by Benson Sotheby’s International Realty Sold by Alpine Property Realty

QUARTER REPORT FIRST QUARTER 2016


Benson Sotheby’s International Realty Stats • Leading the real estate brokerage community in Crested Butte by $72 million in total transaction volume in comparison to our closest competitor in 2015. • Our office currently has a 39% market share of sales volume in 2015 in the Crested Butte area. A 9% increase from 2014. • We have been involved in 207 transaction sides of the 754 total. • We sold over $67 million worth of our listings in 2015. Our listings also sell for $204,000 more on average compared to our competitors. • Our brokers were very successful in 2015. • The top 3 brokers in sales volume in Crested Butte are from our office and 6 of the top 8 are from our office. • The top 5 selling brokers in Crested Butte are from our office. • The top 3 buyers’ brokers in Crested Butte are from our office and 5 of the top 6 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.

QUARTER REPORT FIRST QUARTER 2016

BensonSothebysRealty.com | 11


If you would like more information about this Quarter Report, would like detailed market data concerning your property or would like to view any property in the Crested Butte and Gunnison area, please contact one of our knowledgeable and experienced brokers.

MANAGEMENT AND STAFF

Cathy Benson 970.209.5015 Broker/Owner

Dustin Kujawski 970.275.0262 Manager/Marketing

OUR BROKERS

Channing Boucher 970.596.3228

Corey Dwan 970.596.3219

Gary Huresky 970.209.2421

Sam Lumb 970.275.2448

Jaima Giles 970.275.9357

Kiley Flint 970.275.2554

Wayne Meredith 970.209.2706

Larry Neilson 970.209.7849

Katy Mattson 970.275.4601

Di Bridges 970.901.0888

Megan Clark 970.209.3537

Jill Matlock 970.275.0595

Jamie Watt 970.209.2675

Bud Bush 214.803.3300

Diane Dunaway 970.596.1373

BensonSothebysRealty.com

Profile for Crested Butte Sotheby's International Realty

Quarter Report First Quarter 2016  

Benson Sotheby's International Realty's quarterly real estate report for the Crested Butte and Gunnison areas.

Quarter Report First Quarter 2016  

Benson Sotheby's International Realty's quarterly real estate report for the Crested Butte and Gunnison areas.