October 2014 – Market News

Market Update

October 2014 – Market News

Crested Butte market news: Trailing slightly behind last years sales the Crested Butte real estate market has experienced 211 condo and home sales worth $100,811,490. This is just shy of the same period last year by seven sales and $4,633,015 in volume. Reduction off of list price remains higher than last year by two percent hovering at an average of 9%. 16 properties over a $1mil sold this year verses last year’s total of 22. Another $24mil+ is currently under contract containing 45 transactions so there is a chance we will surpass last year’s sales.

Land sales have improved dramatically now as 44 transactions have sold in the upper valley year to date for a total of $12,710,500. That’s up 13% from the same period last year and both average and median prices are up 28% and 24%, respectively. With another $5.5mil under contract it looks like land may finally be on the rebound.