June 2015 Market News

Market Update

June 2015 Market News

The first half of 2015 and the Crested Butte real estate market has shown a strong 17% increase over the same period in 2014. 96 condo and home sales totaling $51,883,161 have closed so far and we remain with an average reduction of 7% off list price. Average price of $540,449 and median price of $380,000 compared to those of $447,102 and $368,500 from the same period last year. Another 41 properties totaling $28,069,499 are under contract seven of which are over $1mil with the most expensive being a Sotheby’s offering at $4,595,000.

Mt. Crested Butte’s first new condo project in almost 10 years, The Timbers, is nearly sold out only a few months after it’s release. We only have only three condos left out of 37 and six deed restricted units for locals. Call me for more information before they are all gone.

Land sales continue to increase over last year as 57 parcels totaling $11,196,700 have sold in the first half of 2015. That represents a staggering 63% increase over the same period last year. 16 additional parcels totaling $2,279,500 are currently under contract.