February 2016 Market News

Market Update

February 2016 Market News

February 2016 Market News

What’s Happening in the Real Estate Market

The Crested Butte real estate market started strong the first month of 2016. A total of eight condos and single family homes closed for a total of $6,470,500. This total represents a range from an $88,000 Skyland condo to a $2,250,000 Mt. Crested Butte single family home. The average reduction off listing price was 7.2%. Compared to January 2015, the same number of residential homes were sold, but the total price last year for the same month was significantly lower at $3,343,500. Currently, another 66 residential properties are under contract with a total listing amount of $25,905,505.

A total of nine land parcels closed in January for a total of $2,041,000. These sales represented a range from a five acre rural parcel for $25,000 to a .25 acre parcel in Crested Butte that sold for $650,000. The average reduction off list price for land in January was 8.3%. January, 2015 there were only seven land sales in the area totaling $1,024,000. Currently, another eleven parcels are under contract, totaling $2,120,000.