March 2015 Market News

Market Update

March 2015 Market News

The 1st quarter of the overall 2015 Crested Butte real estate market has come to a close with a staggering 25% increase over 2014. 41 condo and home sales totaling at $18,029,000 have closed so far with an average of 6% off of asking price. This is an 11% increase over the 1st quarter of 2014 with a 17% increase in median price. Another 40 properties totaling almost $27,000,000 are under contract nine of which are over $1mil with one at $3,200,000.

Land sales continue to make a come back as mild temps and low snow amounts have allowed for better viewing coupled with lower single-family inventory. An impressive 28 parcels totaling $6,032,000 have sold so far in the 1st quarter of 2015. That is up 91% from the same period last year. Although prices have not recovered as much as we’d like it is very clear that land is in much higher demand.

Click below for a more a detailed insight to the entire Crested Butte real estate market with the Benson Sotheby’s 1st Quarter Market Report.