Bluebird Real Estate is proving to be a leader in the real estate industry with 20% of the market share in the north end of the valley and 26% market share in contracts pending (over a fourth of the contracts). Bluebird Real Estate is also tied for #1 in million dollar plus listings at 43. These are very impressive numbers for a company that is just over a year old.
Inventory is lower than I have experienced in the last 14 years as many properties under a million go rapidly under contract. Interestingly, there are only 7 single family homes under contract over one million revealing a definite slow down in the higher end market for the time being.
There are currently 19 single family homes on the market in the town of Crested Butte, down from 23 in July. Mt. Crested Butte has 21 active homes, five less than last month, and there are only 51 active condos and town homes on the market. This represents a decline of 36 listings which will definitely put further pressure on these sectors of the market pushing prices higher. Rural Crested Butte has remained pretty much stagnant with 10 condos and town homes and 59 single family homes on the market. Crested Butte South has slightly less inventory with 14 single family homes and only 6 condos/town homes.
We experienced 37 single family home and condo sales in the upper valley in July totaling $21,285,800. Sales ranged from a Grand Lodge condo selling for $109,000 (the least expensive now available is $175k with only 5 on the market) to a historic Elk Avenue home selling for $1,550,000.
Land sales continue to improve with 13 sales in July totaling $3,667,000, one of which was 35+ acres.
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