Realtor | Corey Dwan
May 2011 - Market Report
Please click here to view Market Update with all active links. Thank you.
With one of the best starts for a ski season in years, well over 27 feet of snow on Mt. Crested Butte and over 730 inches of snow at CS Irwin Cat Skiing this truly was one Crested Butte ski season to remember. Skier visits were up 6% this year over last. Real estate sales were very impressive as well with over $27,000,000 sold this winter alone representing 72 sales in the upper valley. The average sales price, $360,678, down 33% and the median price, $241,500, down 20% from last year reflects some great opportunities were had by very savvy buyers. Cash is king and dominated with 64% of all transactions as the remaining buyers purchased with some of the lowest interest rates in years.
So far for 2011 we have had 21 single family home sales for a total of $13,387,500. 65% of these sales were purchased with cash. Condo and town home sales represented 39 purchases for a total of $9,820,803 of which 84% were purchased with cash. Currently we have only 52 active single family home listings and 182 condo and town home listings on the mountain. That is down from approximately 85 and 330 at the height of the market in 2006. Prices down, inventory down and activity up, this tells me we have hit bottom, we may be there for a while so keep an eye out for the best locations now at the best prices.
CBMR has successfully sold the Tipple House reduced in price to $2,950,000 from $6,000,000, this handcrafted one-of-a-kind home, with individual attention to detail from builder and developer Corbin Marr and design by Sunlit Architecture, features reclaimed mine-wood and gold-flecked stone from the Gold Links Mine in Ohio City, Colorado. Sold April 21, 2011 for $2,500,000 cash. Click here for details.
In a continuing effort to provide the best real estate service in the valley I have launched a new IDX real estate search engine on my web site that I believe is the easiest way for all of you to search for that dream mountain home. If you would like me to set up a customized search for you please contact me anytime. Please visit my web site for more valuable information on the real estate market, community, events and local businesses.
My Featured Listings and Benson Sotheby?s Winter Collection 2010/2011 Edition
Important Gunnison Valley News:
- US Energy looses their fourth investor for the potential Mt. Emmons molybdenum mine. The head of Thompson Creek Metals Company knew the impact his company?s decision would have in Crested Butte. ?We know we have made a lot of people there happy but we are sorry we can?t continue the good fight to build the mine,? company chairman Kevin Loughrey wrote in an email to the Crested Butte News.
- The year 2011 promises to be one of the most exciting seasons of biking that Gunnison County has ever witnessed. Not only has the Gunnison-Crested Butte Valley been selected for a stage finish and a stage start for the first-ever USA Pro Cycling Challenge, Crested Butte is one of three stops on the new Leadville 100 Qualifying Series and is the start for Ride the Rockies.
Important National News:
Interested in FREE Local Art from my favorite artists? Oh Be Joyful Gallery needs your help!
Gunnison Valley Summer and Fall Festivals:
- 31st Annual Crested Butte Bike Week, Crested Butte & Mt. Crested Butte, June 23 ? 26
Corey Dwan - REALTOR
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