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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 Third Quarter - 2015


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

$124.4

Total Sales Volume Through Q3- 2015 Upper Valley

280

Total Transactions Through Q3- 2015 Upper Valley

14.6%

Percentage Up Through Q3- 2015 Upper Valley

Million

2 | 401 Elk Avenue // 970.349.6653

QUARTER REPORT THIRD-QUARTER 2015


Overall Market Update The overall real estate market has continued strong growth throughout 2015 while being up almost 15% over 2014 for the upper valley. The main reason for the overall growth is that single family homes just outside of the Town of Crested Butte and south all the way into the City of Gunnison have all seen large sales volume growth in between 43% to 173%. Also all segments of vacant land and lots have seen huge growth from 2014. The segments that have leveled off or even dipped are single family homes, condos and townhomes in both the towns of Crested Butte and Mt. Crested Butte. The fourth quarter of 2015 looks to level off quite a bit compared to the high sales volume numbers that happened during late summer and early fall. We forecast that our local real estate market will end up with a growth between 5 and 10 percent.

All Properties UPPER VALLEY (Crested Butte, Mt. Crested Butte, Rural Crested Butte, CB South and Almont)

January through September 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

2014

2015

% Change

$450,350 n/a 296 $3,275,000 $13,000 241 89.4% $108,534,525

$433,261 n/a 306 $4,000,000 $4,700 279 92.8% $124,409,961

-3.8% n/a 3.4% 22.1% -63.8% 15.8% 3.8% 14.6%

Resort Report - Mid-Year 2015 Explore the Resort Report The Resort Report is a real estate market comparison of western ski resorts. Visit our website or pick up a copy at our office at 401 Elk Avenue to see why Crested Butte is great value compared to other ski resorts. BensonSothebysRealty.com/Resort-Reports

QUARTER REPORT THIRD-QUARTER 2015

BensonSothebysRealty.com | 3


Single Family Market Single Family Homes Crested Butte

January through September 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

2014

2015

% Change

$1,023,459 $446.79 234 $2,240,000 $465,000 21 94.8% $21,492,650

$830,175 $436.13 302 $1,925,000 $290,000 20 94.7% $16,603,500

-18.9% -2.4% 29.1% -14.1% -37.6% -4.8% -0.1% -22.7%

Single Family Homes Mt. Crested Butte

January through September 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

2014

2015

% Change

$711,477 $260.51 293 $1,375,000 $258,000 20 91.4% $14,229,550

$873,687 $342.61 330 $3,000,000 $315,000 16 93.9% $13,979,000

22.8% 31.5% 12.6% 118.2% 22.1% -20.0% 2.7% -1.8%

Single Family Homes Rural Crested Butte

January through September 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

2014

2015

% Change

$1,087,416 $319.47 263 $3,275,000 $240,000 18 81.9% $19,573,500

$1,303,125 $358.36 287 $4,000,000 $375,000 28 91.6% $36,487,500

19.8% 12.2% 9.1% 22.1% 56.3% 55.6% 11.8% 86.4%

QUARTER REPORT THIRD-QUARTER 2015


Single Family Market Single Family Homes CB South

January through September 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

2014

2015

% Change

$424,163 $193.03 223 $571,000 $273,300 11 96.2% $4,665,800

$480,705 $224.01 232 $644,000 $294,000 17 96.0% $8,172,000

13.3% 16.0% 4.0% 12.8% 7.6% 54.5% -0.2% 75.1%

Single Family Homes Rural Gunnison, Almont and Surrounding Areas

January through September 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

2014

2015

% Change

$316,962 $166.30 295 $850,000 $17,500 48 94.5% $15,214,209

$381,665 $171.24 226 $2,500,000 $30,200 57 95.7% $21,754,920

20.4% 3.0% -23.4% 194.1% 72.6% 18.8% 1.3% 43.0%

Single Family Homes City of Gunnison

January through September 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 THIRD-QUARTER 2015

2014

2015

% Change

$224,417 $148.56 241 $384,000 $135,000 20 96.2% $4,488,350

$240,606 $147.26 238 $425,000 $90,000 51 96.8% $12,270,925

7.2% -0.9% -1.2% 10.7% -33.3% 155.0% 0.6% 173.4%

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 THIRD-QUARTER 2015


Condo and Townhome Market Condos and Townhomes Crested Butte

January through September 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

2014

2015

% Change

$426,375 $331.12 275 $730,000 $192,500 10 93.9% $4,263,750

$356,188 $299.86 172 $740,000 $164,000 9 97.2% $3,205,700

-16.5% -9.4% -37.5% 1.4% -14.8% -10.0% 3.5% -24.8%

Condos and Townhomes Mt. Crested Butte

January through September 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

2014

2015

% Change

$250,874 $227.73 252 $1,487,500 $55,000 88 92.9% $22,076,939

$256,414 $230.64 293 $1,075,000 $47,500 62 95.0% $15,897,700

2.2% 1.3% 16.3% -27.7% -13.6% -29.5% 2.3% -28.0%

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

January through September 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 THIRD-QUARTER 2015

2014

2015

% Change

$210,666 $157.99 215 $605,000 $35,000 33 94.7% $6,951,986

$189,234 $165.61 200 $772,661 $33,000 54 95.4% $10,218,636

-10.2% 4.8% -7.0% 27.7% -5.7% 63.6% 0.7% 47.0%

BensonSothebysRealty.com | 7


Land Market Residential Lots Crested Butte

January through September 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

2014

2015

% Change

$425,000 $2,931,034.48 329 $550,000 $300,000 2 97.1% $850,000

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

6.2% -14.5% 16.4% 18.2% -70.0% 250.0% -2.3% 271.5%

*Buyer paid commissions and town transfer tax

Residential Lots Mt. Crested Butte

January through September 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

2014

2015

% Change

$181,625 $292,943.55 716 $500,000 $61,000 8 70.1% $1,453,000

$328,590 $250,138.41 669 $800,000 $36,000 11 82.6% $3,614,500

80.9% -14.6% -6.6% 60.0% -41.0% 37.5% 17.8% 148.8%

All Lots and Land Rural Crested Butte

January through September 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

2014

2015

% Change

$209,318 $23,478.13 485 $360,000 $94,000 11 94.3% $2,302,500

$152,862 $36,455.59 408 $750,000 $25,000 29 86.9% $4,433,000

-27.0% 55.3% -15.9% 108.3% -73.4% 163.6% -7.8% 92.5%

QUARTER REPORT THIRD-QUARTER 2015


Land Market Residential Lots CB South

January through September 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

2014

2015

% Change

$62,000 $147,619.05 350 $185,000 $32,000 9 94.9% $558,000

$68,656 $165,561.42 245 $175,000 $30,000 32 92.3% $2,197,000

10.7% 12.2% -30.0% -5.4% -6.3% 255.6% -2.7% 293.7%

All Lots and Land Rural Gunnison, Almont and Surrounding Areas

January through September 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

2014

2015

% Change

$301,740 $14,122.44 454 $1,750,000 $21,000 25 75.6% $7,543,500

$604,416 $10,469.72 374 $4,662,500 $15,500 24 85.3% $14,506,000

100.3% -25.9% -17.6% 166.4% -26.2% -4.0% 12.8% 92.3%

All Parcels (11 or More Acres) Gunnison County

January through September 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 THIRD-QUARTER 2015

2014

2015

% Change

$496,821 $11,800.38 534 $1,750,000 $49,000 14 76.6% $6,955,500

$1,005,357 $9,438.64 675 $4,662,500 $129,500 14 82.2% $14,075,000

102.4% -20.0% 26.4% 166.4% 164.3% 0.0% 7.3% 102.4%

BensonSothebysRealty.com | 9


Significant Sales through Third Quarter 2015

535 Journey’s End Rd | Overlooking C.B.

873 Skyland Drive | Rural C.B.

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

Listed by Benson Sotheby’s International Realty/Briggs Freeman SIR Sold by Benson Sotheby’s International Realty

25 Walking Deer Lane | Mt. C.B.

426 Red Mountain Ranch Rd | Rural C.B.

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

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

909 Eagle Creek Road | Ohio Creek Valley

12 Garland Drive | Rural C.B.

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

Listed by Red Lady Realty Sold by Coldwell Banker Bighorn Realty

Sold for $4,000,000

Sold for $3,000,000

Sold for $2,500,000

10 | 401 Elk Avenue // 970.349.6653

Sold for $3,530,000

Sold for $2,750,000

Sold for $2,475,000

QUARTER REPORT THIRD-QUARTER 2015


Benson Sotheby’s International Realty Stats • We are the leading real estate brokerage in Crested Butte by $62 million in total transaction volume compared to our closest competitor in 2015. • Our office currently has a 37% market share of sales volume in 2015 in the Crested Butte area. A 7% increase from 2014. • We have been involved in 173 sides of the total transactions, which is by far the most in the Crested Butte area. • We sold $52 million worth of our listings in 2015. Our listings also sell for $200,000 more on average compared to our competitors. • Our brokers have been very successful so far in 2015. • The top 4 brokers in sales volume in Crested Butte are from our office. • The top 3 selling brokers in Crested Butte are from our office, while 4 of the top 6 are from our office. • The top 4 buyers’ 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.

QUARTER REPORT THIRD-QUARTER 2015

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 our brokers.

MANAGEMENT AND STAFF

Cathy Benson 970.209.5015 Broker/Owner

Dustin Kujawski 970.275.0262 Manager/Marketing

Dawn Schnell 970.349.6653 Office Assistant

OUR BROKERS

Channing Boucher 970.596.3228

Kiley Flint 970.275.2554

Corey Dwan 970.596.3219

Jaima Giles 970.275.9357

Megan Clark 970.209.3537

Gary Huresky 970.209.2421

Wayne Meredith 970.209.2706

Jamie Watt 970.209.2675

Sam Lumb 970.275.2448

Larry Neilson 970.209.7849

Jill Matlock 970.275.0595

Katy Mattson 970.275.4601

Di Bridges 970.901.0888

BensonSothebysRealty.com

Profile for Crested Butte Sotheby's International Realty

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