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Crested Butte’s Oldest Real Estate Company


TABLE OF CONTENTS Market Update ………………………Page 3 Mt. Crested Butte ………………....Page 4 Crested Butte …………………….….Page 5 Area Map ……………………………...Page 6 Upper Valley Statistics … ……….Page 7 Rural CB & Rural Mt. CB ...……..Page 8 Crested Butte South………… …….Page 9 Significant Sales …………………....Page 10 Crested Butte Events……………...Page 11 About Us ………………………….. ….Page 12

MARKET UPDATE The 2016 Real Estate Market has been busy and challenging. As you will see from these stats, the sales volume so far is on pace with 2015. Two indicators have improved overall: the number of days a property is on the market before it sells is down pretty significantly and final purchase prices are closer to asking prices than last year. At the beginning of the year there was concern about lack of inventory in certain segments of the market, but for the most part this did not come to be. The residential market under $200,000 is one segment that is lacking inventory and properties are generally snapped up pretty quickly when they come on the market. There has also been a lack of single family homes in the Town of Crested Butte. Now more than ever it is important to have a trusted adviser to keep you updated on the market and to help interpret the information you may find online. The Brokers of Red Lady Realty are happy be of assistance. Contact one today!

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redladyealty.com


MARKET UPDATE

Number of Properties Sold

Properties sold for

276

95%

282 in 2015

of list price

Total Dollar Volume Sold

$125,066,302 2015: $124,849,961

Average Days on Market

Average Sales Price

$453,138

279

$442,730 in 2015

310 in 2015

MILLIONS

January - September Sale Trends 2010-2016 $150

300

$125

250

$100

200

$75

150

$50

100

$25

50

$0

0 2010

2011

2012 Dollar Volume

2013

2014

2015

2016

Number of Sales (970) 349–5007

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MT. CRESTED BUTTE Overall Mt. Crested Butte

SINGLE FAMILY HOMES 2015

2016

% Change

16

13

19%

$873,687

$1,181,911

35%

List to Sold Price Ratio

94%

95%

1%

Days on Market

330

344

4%

Number of Properties Sold

134 89 in 2015

Total Dollar Volume Sold

Sold Listings Average Sales Price

Total Dollar Volume Sold $13,979,000 $15,364,850

10%

$47,784,754 CONDOS & TOWNHOMES

2015: $33,491,200

Properties sold for

96% of list price

2015

2016

% Change

62

111

79%

$256,414

$271,659

6%

List to Sold Price Ratio

95%

97%

2%

Days on Market

293

279

5%

$8,264,000

$16,040,425

94%

Sold Listings Average Sales Price

Total Dollar Volume Sold

Average Sales Price

$356,602

VACANT LAND 2015

2016

% Change

11

10

9%

$328,590

$226,564

31%

List to Sold Price Ratio

83%

95%

12%

Days on Market

669

413

38%

$3,614,500

$2,265,649

37%

$376,305 in 2015 Sold Listings

Average Days on Market

295 346 in 2015 4

redladyealty.com

Average Sales Price

Total Dollar Volume Sold


CRESTED BUTTE Overall Crested Butte

SINGLE FAMILY HOMES 2015

2016

% Change

20

18

10%

$830,175

$1,131,383

36%

36

List to Sold Price Ratio

95%

95%

No Change

46 in 2015

Days on Market

302

190

37%

Sold Listings Average Sales Price

Total Dollar Volume Sold $16,603,500 $20,364,898

23%

Number of Properties Sold

Total Dollar Volume Sold

$30,158,898 CONDOS & TOWNHOMES

2015: $27,581,200

2015

2016

% Change

9

8

11%

$356,188

$458,500

29%

List to Sold Price Ratio

97%

94%

3%

95%

Days on Market

172

226

24%

of list price

$3,205,700

$3,668,000

14%

Sold Listings Average Sales Price

Total Dollar Volume Sold

Properties sold for

Average Sales Price

$837,747

VACANT LAND 2015

2016

% Change

7

9

29%

$451,142

$611,111

26%

List to Sold Price Ratio

95%

96%

1%

Days on Market

383

307

20%

234

$3,158,000

$5,500,000

74%

372 in 2015

Sold Listings Average Sales Price

Total Dollar Volume Sold

$599,591 in 2015

Average Days on Market

(970) 349–5007

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AREA MAP

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redladyealty.com


UPPER VALLEY STATISTICS

Number of Sales By Price 21%

$249,999 or less $250,000 - $499,999

16%

$500,000 - $749,999 $750,000 - $999,999

6%

$1,000,000 - $1,499,000

5%

47%

$1,500,000 - $1,999,999

3%

$2,000,000 or more

2%

Dollar Volume of Sales by Area

Number of Sales by AreaRural Mt. CB, 2%

Rural Mt. CB, 1%

Almont, 4%

Mt. Crested Butte, 49%

Crested Butte, 13%

Almont, 3%

Crested Butte, 24% Mt. Crested Butte, 38%

Rural CB, 18% CB South, 9%

CB South, 13%

Kebler, 1%

Rural CB, 24%

Kebler, 1%

(970) 349–5007

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RURAL CRESTED BUTTE RURAL MT. CRESTED BUTTE Overall Rural CB & Rural Mt. CB

SINGLE FAMILY HOMES 2015

2016

% Change

29

20

31%

$1,303,125

$1,129,000

15%

List to Sold Price Ratio

92%

92%

No Change

Days on Market

309

339

10%

Number of Properties Sold

55 69 in 2015

Total Dollar Volume Sold

Sold Listings Average Sales Price

Total Dollar Volume Sold $36,487,500 $22,580,000

38%

$32,001,700 CONDOS & TOWNHOMES

2015: $44,086,961

Properties sold for

92% of list price

2015

2016

% Change

11

12

9%

$254,678

$441,391

73%

List to Sold Price Ratio

96%

96%

No Change

Days on Market

235

175

26%

$2,801,461

$5,296,700

49%

Sold Listings Average Sales Price

Total Dollar Volume Sold

Average Sales Price

$581,849

VACANT LAND 2015

2016

% Change

30

23

23%

$159,933

$179,347

12%

List to Sold Price Ratio

86%

87%

1%

Days on Market

398

224

44%

$4,798,000

$4,125,000

14%

$638,941 in 2015 Sold Listings

Average Days on Market

255 336 in 2015 8

redladyealty.com

Average Sales Price

Total Dollar Volume Sold


CRESTED BUTTE SOUTH Overall CB South

SINGLE FAMILY HOMES 2015

2016

% Change

17

12

29%

$480,705

$584,708

22%

36

List to Sold Price Ratio

96%

96%

No Change

66 in 2015

Days on Market

232

252

9%

$8,172,000

$7,016,500

16%

Sold Listings Average Sales Price

Total Dollar Volume Sold

Number of Properties Sold

Total Dollar Volume Sold

$10,950,750 CONDOS & TOWNHOMES

2015: $13,926,900

2015

2016

% Change

17

8

53%

$209,288

$338,437

62%

List to Sold Price Ratio

95%

96%

1%

95%

Days on Market

116

248

113%

of list price

$3,557,900

$2,707,500

24%

Sold Listings Average Sales Price

Total Dollar Volume Sold

Properties sold for

Average Sales Price

$304,187

VACANT LAND 2015

2016

% Change

32

16

50%

$68,656

$76,671

12%

List to Sold Price Ratio

92%

90%

2%

Days on Market

246

341

38%

291

$2,197,000

$1,226,750

44%

209 in 2015

Sold Listings Average Sales Price

Total Dollar Volume Sold

$211,013 in 2015

Average Days on Market

(970) 349–5007

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SIGNIFICANT SALES

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2 Peakview Drive | Mt. CB Sold for $1,850,000

31 Gold Link Drive | Mt. CB Sold for $1,730,000

Listed by Benson Sotheby's International Realty Sold by Red Lady Realty

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

714 9th Street | Town of CB Sold for $1,695,000

14 Hunter Hill Rd, B-102 | Mt. CB Sold for $1,580,000

Listed by Keller Williams Realty Sold by Red Lady Realty

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

830 Sopris Avenue | Town of CB Sold for $1,300,000

1250 CR 734 | Rural CB Sold for $1,250,000

Listed by Red Lady Realty Sold by Keller Williams Realty

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

redladyealty.com


CRESTED BUTTE NEWS

Area News Highlights July—September August 15—Home grown athlete Emma Coburn won the bronze medal in the 3,000-meter steeplechase at the summer Olympic games in Rio.

August 31—Approval was given by the Town of Crested Butte for the Crested Butte Center for the Arts expansion plan. September 6—Pact reached to end any possibility of industrial sized mining on Mt Emmons. The next step in the process will occur during the fall election where voters in Crested Butte decide the fait of the $2.1 million bond issue.

Upcoming Events: October 7 October 11 October 31 November 12 November 24 November 25-27 December 24 December 31

Last day for Early Bird pricing on CMBR Season Pass Crested Butte Heritage Museum Illumination Slideshow Halloween Parade Nordic Center opens for the season Crested Butte Mountain Resort Opens Nordic Center's 12th Annual Thanksgiving Training Camp Torchlight Parade Torchlight Parade & Fireworks (970) 349–5007

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If you have any questions or would like additional information about these market statistics or any properties in our area, please contact one of our knowledgeable agents. As Crested Butte’s Oldest Real Estate Company, Red Lady Realty has deep roots in the community. With new ownership from 2015, we continue to provide great service and uphold the reputation that Red Lady Realty has been known for since 1987. Whether you are buying or selling, it is one of the largest financial decisions you will make and it’s important to choose your guide wisely.

Molly Eldridge, Broker Owner

Doug Kroft

Maggie Dethloff

970-209-0373

970-209-7880

Joe Garcia

Diane Aronovic

Sigrid Cottrell

970-209-4034

970-209-0405

970-596-2596

Joyce Roloff

Andrew Allen

Ryan Dickens

970-209-4895

970-209-3060

970-596-7879

redladyrealty.com

215 Elk Ave | PO Box 190 Crested Butte, Colorado 81224

970-209-4234

970-349-5007

Crested Butte Market Report, 3rd Quarter 2016  
Crested Butte Market Report, 3rd Quarter 2016  

Red Lady Realty's quarterly market report contains information on the real estate market and sales data for the Northern end of the valley.