Crested Butte Collection Market Snapshot
The peak summer season is here and we’re halfway through another great year for real estate sales. The Crested Butte valley is alive and active with summer visitors and record property sales. The Vail Announcement is Starting to Impact Local Real Estate, adding to the normally busy summer selling season. We look forward to the positive improvements and expertise an experienced operator such as Vail will bring to our ski resort.
The last time Crested Butte Mountain Resort changed hands we saw a spike in real estate sales as well as prices. We are starting to see the same trend this summer after the June announcement. Condo sales have increased as have homes priced under the $1,000,000 price point. We are seeing multiple offers on new listings and properties often going under contract within days of hitting the market. This spring the owner of multiple Buckhorn Ranch parcels sold over 40 residential lots, most priced under $200,000, in a one-time land offering.
Inventory is tightening up and prices are on the rise as we head into late summer. There are currently twenty two homes under contract in the north end of the valley with an average price of $943,000. Thirty-three condos are currently under contract, averaging $421,000. Land sales are also up with thirty-one parcels pending with an average price of $375,000.
Other exciting news, Bluebird Real Estate celebrated their one year anniversary this April and has quickly risen to become a strong presence in the Crested Butte Real Estate Market and leader in properties listed above $1,000,000. We are halfway through the year and Bluebird associates have contracted over one fourth of all properties in the north end of the valley.
Summer is in full swing and we’re excited to see what the second half of the year has in hold. For more information on Crested Butte events, festivals, news and real estate, please visit crestedbuttecollection.com.
