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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 Year-End 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

$170.3

Total Sales Volume For 2015 in the Upper Valley

377

Total Transactions For 2015 in the Upper Valley

Million

9.0% 2 | 401 Elk Avenue // 970.349.6653

Percentage Up For 2015 in the Upper Valley QUARTER REPORT YEAR-END 2015


Overall Market Update In 2015, the real estate markets in Crested Butte and Gunnison grew more than was predicted. The Crested Butte area market grew by a strong 9% compared to 2014 while the Gunnison area market grew by a staggering 93% compared to 2014. Not only was sales volume up in both markets but also average price and the number of properties sold increased as well. The market segments that did exceptionally well in sales volume increases were Single Family Homes in Mt. Crested Butte (47%), Single Family Homes in Rural Crested Butte (65%), Single Family Homes in Almont and Rural Gunnison (65%) and Single Family Homes in Gunnison (172%). Also all land markets did well with sales volume increasing in all segments. CB South grew by an astonishing 183%. As we enter into 2016 we expect to continue to see healthy growth in our real estate markets in our area. Growth in tourism throughout both the winter and summer months and more people telecommuting, will in turn create more of a demand for properties in our area. So far we are off to a strong start in 2016 with currently over $40 million in properties under contract as of January 7th. All Properties UPPER VALLEY (Crested Butte, Mt. Crested Butte, Rural Crested Butte, CB South and Almont)

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 YEAR-END 2015

2014

2015

% Change

$450,200 n/a 308 $3,900,000 $10,000 347 90.2% $156,219,575

$451,788 n/a 331 $4,000,000 $4,700 377 92.8% $170,324,359

0.4% n/a 7.5% 2.6% -53.0% 8.6% 2.9% 9.0%

BensonSothebysRealty.com | 3


Single Family Market Single Family Homes Crested Butte

January through December 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

$1,028,630 $448.14 253 $2,240,000 $465,000 29 94.5% $29,830,295

$803,403 $450.27 271 $1,925,000 $290,000 26 94.3% $20,888,500

-21.9% 0.5% 7.1% -14.1% -37.6% -10.3% -0.2% -30.0%

Single Family Homes Mt. Crested Butte

January through December 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

$683,890 $260.77 330 $1,375,000 $258,000 25 91.8% $17,097,270

$968,403 $337.15 364 $3,937,500 $310,000 26 92.2% $25,178,500

41.6% 29.3% 10.3% 186.4% 20.2% 4.0% 0.4% 47.3%

Single Family Homes Rural Crested Butte

January through December 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

$1,172,978 $334.41 276 $3,900,000 $240,000 23 85.7% $26,978,500

$1,239,611 $350.78 296 $4,000,000 $375,000 36 92.0% $44,626,000

5.7% 4.9% 7.2% 2.6% 56.3% 56.5% 7.4% 65.4%

QUARTER REPORT YEAR-END 2015


Single Family Market Single Family Homes CB South

January through December 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

$396,909 $180.62 222 $571,000 $204,750 16 94.5% $6,350,550

$484,972 $221.77 223 $644,000 $294,000 18 96.3% $8,729,500

22.2% 22.8% 0.5% 12.8% 43.6% 12.5% 1.9% 37.5%

Single Family Homes Rural Gunnison, Almont and Surrounding Areas

January through December 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

$315,319 $165.17 283 $1,025,000 $17,500 64 94.5% $20,180,459

$423,315 $186.18 270 $5,000,000 $30,200 79 96.1% $33,441,920

34.2% 12.7% -4.6% 387.8% 72.6% 23.4% 1.7% 65.7%

Single Family Homes City of Gunnison

January through December 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 YEAR-END 2015

2014

2015

% Change

$215,883 $141.68 218 $384,000 $92,000 28 95.7% $6,044,750

$241,641 $149.54 219 $425,000 $90,000 68 96.7% $16,431,625

11.9% 5.5% 0.5% 10.7% -2.2% 142.9% 1.0% 171.8%

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 YEAR-END 2015


Condo and Townhome Market Condos and Townhomes Crested Butte

January through December 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

$426,250 $330.83 275 $730,000 $192,500 11 93.5% $4,688,750

$374,975 $312.67 184 $740,000 $164,000 12 97.2% $4,499,700

-12.0% -5.5% -33.1% 1.4% -14.8% 9.1% 4.0% -4.0%

Condos and Townhomes Mt. Crested Butte

January through December 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

$253,451 $221.67 261 $1,795,000 $44,900 131 93.5% $33,202,139

$263,892 $229.51 293 $1,075,000 $42,500 84 95.0% $22,166,948

4.1% 3.5% 12.3% -40.1% -5.3% -35.9% 1.6% -33.2%

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

January through December 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 YEAR-END 2015

2014

2015

% Change

$234,422 $165.43 218 $880,000 $35,000 50 95.0% $11,721,136

$199,722 $170.44 208 $772,661 $33,000 67 95.6% $13,381,436

-14.8% 3.0% -4.6% -12.2% -5.7% 34.0% 0.6% 14.2%

BensonSothebysRealty.com | 7


Land Market Residential Lots Crested Butte

January through December 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

$466,435 $3,109,566.67 316 $583,675 $300,000 5 92.3% $2,332,175

$510,025 $3,054,041.92 375 $837,250 $90,000 10 93.3% $5,100,250

9.3% -1.8% 18.7% 43.4% -70.0% 100.0% 1.1% 118.7%

Residential Lots Mt. Crested Butte

January through December 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

$271,590 $339,815.21 687 $825,000 $61,000 13 70.6% $3,530,680

$303,535 $256,612.32 783 $800,000 $36,000 14 84.2% $4,249,500

11.8% -24.5% 14.0% -3.0% -41.0% 7.7% 19.3% 20.4%

All Lots and Land Rural Crested Butte

January through December 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

$210,825 $28,308.16 390 $410,000 $10,000 20 85.7% $4,216,500

$203,113 $30,076.73 407 $815,000 $25,000 44 90.1% $8,937,000

-3.7% 6.2% 4.4% 98.8% 150.0% 120.0% 5.1% 112.0%

QUARTER REPORT YEAR-END 2015


Land Market Residential Lots CB South

January through December 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

$61,884 $150,152.51 320 $185,000 $32,000 14 93.0% $866,380

$68,277 $166,870.33 238 $175,000 $30,000 36 92.6% $2,458,000

10.3% 11.1% -25.6% -5.4% -6.3% 157.1% -0.4% 183.7%

All Lots and Land Rural Gunnison, Almont and Surrounding Areas

January through December 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

$356,191 $12,616.14 422 $1,750,000 $20,000 33 80.3% $11,754,334

$444,953 $10,238.03 507 $4,662,500 $6,000 35 85.8% $15,573,370

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 through December 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 YEAR-END 2015

2014

2015

% Change

$548,373 $11,384.80 461 $1,750,000 $49,000 21 81.4% $11,515,834

$817,000 $9,414.56 709 $4,662,500 $10,000 20 83.5% $16,340,000

49.0% -17.3% 53.8% 166.4% -79.6% -4.8% 2.6% 41.9%

BensonSothebysRealty.com | 9


Significant Sales for 2015

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

19 Kokanee Drive | Mt. C.B.

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

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

873 Skyland Drive | Rural C.B.

25 Walking Deer Lane | Mt. C.B.

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

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

426 Red Mountain Ranch Rd | Rural C.B.

909 Eagle Creek Road | Ohio Creek Valley

Sold for $4,000,000

Sold for $3,530,000

Sold for $2,750,000

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

10 | 401 Elk Avenue // 970.349.6653

Sold for $3,937,500

Sold for $3,000,000

Sold for $2,500,000 Listed by Benson Sotheby’s International Realty Sold by Benson Sotheby’s International Realty

QUARTER REPORT YEAR-END 2015


Benson Sotheby’s International Realty Stats • We lead 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 YEAR-END 2015

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

Quarter Report - Year End 2015  

Benson Sotheby's International Realty presents the Quarter Report for Year End 2015 for Crested Butte and Gunnison.

Quarter Report - Year End 2015  

Benson Sotheby's International Realty presents the Quarter Report for Year End 2015 for Crested Butte and Gunnison.