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CRESTED BUTTE & GUNNISON

Quarterly Report

Q3: July - September 2013


Table of Contents Real Estate Market Update ............................................................. 3 Single Family Market Info ............................................................ 4 - 5 Area Map .............................................................................................. 6 Condo and Townhome Market Info .............................................7 Land Market Info ............................................................................ 8 - 9 Significant Sales ..................................................................................10 Benson Sotheby’s International Realty Update ........................... 11 Contact Us ......................................................................................... 12

Total Sales Volume YTD in Gunnison County

Million

Million

Quick Hits $107.8 $135.9 257 381 145% 141%

Total Sales Volume YTD in Upper Valley

Total Transactions YTD in Gunnison County

Total Transactions YTD in Upper Valley

Percentage over last year YTD in Gunnison County

Percentage over last year YTD in Upper Valley

2 | 401 Elk Avenue | 970.349.6653


Real Estate Market Update The overall real estate market has improved greatly for 2013 over this same time period in 2012. In the upper valley our sales volume in the first three quarters has already surpassed the entire year of 2012. The next few pages show all aspects of Single Family Homes, Condos and Townhomes increasing in total sales volume and the majority of individual areas have seen an increase in average price, more properties have sold within 10% or less of list price, and fewer days on market. Vacant Land and Lots are kind of a mixed bag with the exception of the Town of Crested Butte as the only area with strong numbers throughout. The thrid quarter was very strong, with $64 million in sales this quarter alone. 13 of the properties were sold at over $1 million. January through September

2012

2013

Median Price

$284,750

$250,000

Average Price

$388,314

$419,483

398

320

$4,000,000

$4,250,000

$7,800

$4,000

192

257

87.8%

92.0%

$74,556,368

$107,807,141

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

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

BensonSothebysRealty.com | 3


Single Family Market Info Town of Crested Butte - Single Family Homes January through September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

2012

2013

$512,500 $643,796 348 $1,900,000 $95,000 22 93.5% $14,163,513

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

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

2012

2013

$650,000 $860,063 395 $4,000,000 $310,000 15 89.6% $12,900,950

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

Rural Crested Butte - Single Family Homes January through 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

2012

2013

$482,500 $729,105 331 $2,475,000 $151,000 18 86.3% $13,123,900

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


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

2012

2013

$334,250 $349,525 198 $648,500 $200,000 12 95.9% $4,194,300

$350,000 $376,223 137 $589,000 $299,000 13 96.1% $4,890,900

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

2012

2013

$224,607 $234,430 322 $450,000 $54,000 51 92.5% $11,955,932

$221,000 $296,715 265 $1,675,000 $72,000 50 93.2% $14,835,773

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

2012

2013

$170,750 $175,620 196 $250,000 $60,000 20 95.4% $3,512,400

$235,000 $257,634 216 $450,000 $143,500 29 97.0% $7,471,400

BensonSothebysRealty.com | 5


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


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

2012

2013

$232,500 $265,666 349 $425,000 $150,000 6 92.1% $1,594,000

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

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

2012

2013

$222,000 $222,360 319 $1,030,000 $50,000 48 87.9% $10,673,300

$186,100 $257,750 351 $932,500 $43,000 67 92.6% $17,269,281

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

2012

2013

$222,500 $277,629 325 $755,000 $39,500 24 91.3% $6,663,105

$192,900 $222,746 208 $750,000 $49,900 41 93.2% $9,132,600

BensonSothebysRealty.com | 7


Land Market Info Town of Crested Butte - Residential Lots January through September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

2012

2013

$363,000 $407,750 226 $580,000 $325,000 4 92.3% $1,631,000

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

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

2012

2013

$206,500 $238,637 734 $625,000 $80,000 16 69.8% $3,818,200

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

Rural Crested Butte - All Lots and Land January through 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

2012

2013

$140,000 $209,909 371 $775,000 $27,500 11 78.6% $2,309,000

$115,043 $174,692 422 $1,150,000 $25,500 28 87.0% $4,891,386


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

2012

2013

$39,000 $48,071 1,170 $88,000 $25,000 7 70.6% $336,500

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

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

2012

2013

$70,000 $216,442 493 $2,300,000 $5,000 21 87.1% $4,545,300

$70,000 $79,614 420 $290,000 $8,500 17 91.6% $1,353,450

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

2012

2013

$100,000 $138,928 481 $400,000 $5,000 7 92.8% $972,500

$144,000 $263,086 307 $1,150,000 $35,000 11 85.7% $2,893,950

BensonSothebysRealty.com | 9


Significant Sales in Q3 11 Glacier Lily Way | Mt. Crested Butte

4 Peakview Drive | Mt. Crested Butte

Listed and Sold by Coldwell Banker Bighorn Realty

Listed by Benson Sotheby’s International Realty Sold by Coldwell Banker Bighorn Realty

359 Old Cottonwood Lane | Gunnison

15535 Highway 135 | Crested Butte

Listed by Keller Williams Realty Sold by Crested Butte Resort Real Estate

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

1 Treasury Hill Road | Crested Butte

2200 Eagle Hill Road | Gunnison

Listed by Benson Sotheby’s International Realty Sold by Coldwell Banker Bighorn Realty

Listed by Benson Sotheby’s International Realty Sold by Mindy Costanzo, IB

29 Summit Road | Mt. Crested Butte

481 Reservoir Road | Crested Butte

Listed and Sold by Coldwell Banker Bighorn Realty

Listed and Sold by Keller Williams Realty

Sold for $1,395,000

Sold for $1,500,000

Sold for $1,560,000

Sold for $2,100,000

10 | 401 Elk Avenue | 970.349.6653

Sold for $1,483,630

Sold for $1,550,000

Sold for $1,675,000

Sold for $3,700,000


Benson Sotheby’s International Realty Update • In only 3 quarters our office has surpassed our total sales volume for the entire year of 2012 • Through 3 quarters we are the leading real estate brokerage in Crested Butte by $11 million • Through 3 quarters our office has been involved in 145 sides of the total transactions, while our closest competitor has 88 sides • Through 3 quarters we have sold over $32,000,000 worth of Benson Sotheby’s International Realty listings • Of the 49 properties currently under-contract our office is a part of 25 of the transactions • The total listing price of these 25 transactions is $18,910,800; nearly two thirds of the listing volume that is presently under-contract 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 any of the figures in this report or would like view properties in the Crested Butte and Gunnison area please contact one of our knowledgeable brokers.

Cathy Benson 970.209.5015

Channing Boucher

Corey Dwan

Gary Huresky 970.209.2421

970.275.2554

Jaima Giles

Karen Redden

Megan Clark

Larry Neilson

Sam Lumb

970.275.2448

970.596.3228

970.275.9357

Katy Mattson 970.275.4601

Follow Us

970.596.3219

970.209.5943

Jill Matlock

970.275.0595

Jamie Watt

970.209.3537

970.209.2675

Kiley Flint

970.209.7849

Dustin Kujawski 970.349.6653

BensonSothebysRealty.com

Profile for Crested Butte Sotheby's International Realty

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