Realtor | Corey Dwan

March 2011 - Market Report

Hi Everyone,

So far this winter in Crested Butte we have received more than 25 feet of snow and with 9 inches new accumulation for this last week we have an 83" base. March has come on strong with spring skiing conditions with temperatures in the 40s all this coming week. The sun is out and the crowds are few making it one of the best times of the year to visit. For current weather, snow and ski trail reports please visit Crested Butte Weather, Crested Butte Snow Report and Crested Butte Ski Trail Status.

Prior to the conclusion of this winter season I wanted to take a few moments and reflect on the real estate market performance last year and the beginning of this year. For the entire year of 2010 we had 152 single family, condos and town homes sell for a total of $78,497,919. The average price was $516,434 and the median price was $352,500. In 2009 we sold 141 single family, condos and town homes for a grand total of $72,433,657. While surpassing last years total sales we also gained slightly from a 2009 average price of $513,714 and median price of $330,000. For the entire winter season (12-1-09 to 4-4-10) we sold $21,337,219 worth of inventory. Compare that to $28,414,178 of sold and under contract inventory so far this winter season and it is evident savvy buyers are taking advantage of our current low prices and what appears to be the bottom of our market.

Land has continued to be the hardest hit as seen with a recent sale in the Summit neighborhood last month for $137,500 (ski in/ski out) with past sale prices exceeding $800,000 at the height of the market in 2006. So if you want a piece of Crested Butte land, there is no time better than now.

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 Corey Dwan anytime. Please
visit my web site for valuable information on the real estate market, community, events and local businesses.

My Featured Listings and Benson Sotheby's Winter Collection 2010/2011 Edition

Click here if you would like to receive foreclosure, REO and short sale listings. (Please note Foreclosure Listing Request in the message field)


NAR: Home Prices Stabilize in Most Markets During the 4th Quarter 2010

Home sales rebounded in 49 states during the fourth quarter with 78 markets – just over half of the available metropolitan areas – experiencing price gains from a year ago, while most of the rest saw price weakness, according to the latest survey by the National Association of Realtors® (NAR).
• Total state existing-home sales, including single-family and condo, jumped 15.4% to a seasonally adjusted annual rate of 4.80 million in the fourth quarter from 4.16 million in the third quarter
• In the fourth quarter, the median existing single-family home price rose in 78 out of 152 metropolitan statistical areas from the fourth quarter of 2009, including 10 with double-digit increases
“Mortgage interest rates recently hit record lows, median family income has edged up and prices in most areas have been stable following the correction from the housing boom. For people with good credit and long term plans, it’s hard to imagine a better opportunity than what we see today,” said NAR President Ron Phipps.

-- “Home Price Stabilization Seen in Most Metro Areas during Fourth Quarter, Sales Up,” National Association of Realtors, Feb. 10, 2011.

Click here for the full Sotheby's Positive Angles Report.

Crested Butte Art:
Click here for the latest Oh Be Joyful Gallery Newsletter

Dave Santillanes, Thunder Pass, oil on panel, 24” x 36”

Click here to view this month's highlighted local photographer, Raynor Czerwinski.

Raynor Czerwinski - Crested Butte Fall Moonlight


Planning your next trip to Crested Butte:
For complete flight details and air service to Gunnison and Montrose click here.

For a list of value packages and special deals click here.


There's lots to do in the month of March so come on out and enjoy the most beautiful mountain town in Colorado.

MARCH 2011
3 Learn to Skate Ski for Free, Crested Butte Nordic Center
3 Local Randonee Race Series, Crested Butte Mountain Resort
3 First Friday Gallery Crawl & Music, Various Galleries & Locations, Gunnison
3 – 5, 10 – 12 Sonofagunn – An Original Spoof on the Gunnison Valley, Gunnison Arts Center
5 Super Tour (22.5K) – Crested Butte Nordic Center
5 7 Hours of the Banana Benefiting the Adaptive Sports Center & Crested Butte Ski
Club, Crested Butte Mountain Resort
5 Western Slope Choral Festival by Western State College – Directors’, Women’s & Mixed Honor Choirs, Fred R. Field Western Heritage Center, Gunnison
5 – 7 Adaptive Sports Center’s Sit Ski Fiesta, Crested Butte Mountain Resort
6 USASA Half Pipe Competition, Crested Butte Mountain Resort
6 Ellis Paul with Chris Trapper Concert, Crested Butte Center for the Arts
6 Mardi Gras Costume Parties for Kids & Adults with music by Dr. Robert, Mallardi
Cabaret Theatre, Crested Butte
6 – 11 Intl. Airline Ski Federation’s World Airline Ski Championships, CB Mtn. Resort
8 Mardi Gras Parade & Gumbo Cook-Off, Elk Avenue & Mallardi Cabaret Theatre,
Crested Butte
9 Sonofagunn – An Original Spoof on the Gunnison Valley, CB Center for the Arts
12 Big Air on Elk Presented by Colorado FreeSkier Presents, Elk Avenue, Cr. Butte
12 Bump & Jump Competition, Crested Butte Mountain Resort
12 – 13 USASA Boardercross Competition, Crested Butte Mountain Resort
13 Beach Ball Express Presented by CB Mtn. Heritage Museum, CB Mountain Resort
13 Brunch at the Magic Meadows Yurt Hosted by Crested Butte Nordic Center
13 Peter Kater Concert, Crested Butte Center for the Arts
16-20, 24-26 “The X” Presented by Crested Butte Mountain Theatre, Mallardi Cabaret Theatre
17 – 19 15th Annual U.S. Extreme Freeskiing Telemark Championships, CB Mtn. Resort
18 Race Across the Sky 2010 (Film), Crested Butte Center for the Arts
18 Full Moon Yurt Dinner Tour, Crested Butte Nordic Center
18 Crested Butte Land Trust Adventure Auction and Gourmet Dinner, Mountaineer
Square Ballroom, Mt. Crested Butte
18 – 21 Adaptive Sports Center’s Ladies with Abilities Camp, CB Mountain Resort
19 Moonlight Snowshoe Tour, Crested Butte Mountain Resort
19 Progressive Bonfire Dinner (on Nordic skis or snowshoes) Presented Junior
Nordic Team, Town Ranch
19 – 26 Matthew Shepard Foundation Gay Ski Week, Crested Butte Mountain Resort
20 Al Johnson Memorial Uphill/Downhill Telemark Ski Race
22 PJ Party Night for Gay Ski Week, Downtown Crested Butte
22 “The Laramie Project” Presented by Western State College & Matthew Shepard
Foundation, Mallardi Cabaret Theatre, Crested Butte
24 Local Randonee Race Series Finals, Crested Butte Mountain Resort
25 Four Seasons Quartet of The Colorado Symphony, CB Center for the Arts
25 KBUT’s Soul Train Night, Tequila’s, Crested Butte
25 – 26 14th Annual Elk Mountains Grand Traverse, Crested Butte to Aspen
26 FestEVOL Concert featuring O.A.R. and Pete Kilpatrick Band with special guest DJ Logic, Crested Butte Mountain Resort
29 – Apr. 3 Outboard Ski Week, Crested Butte Mountain Resort
31 Flauschink, Crested Butte & Mt. Crested Butte
31 ArtWalk Evening, Studios & Galleries in Crested Butte

Remember if you wish to receive up to the minute community, national real estate market and ski town news please join one or all of my social media avenues below and/or subscribe to The Crested Butte Real Estate and Community Newsletter. Thanks for reading today and I hope to see you in Crested Butte soon.
Cheers,
Corey

Corey Dwan - REALTOR
Benson Sotheby's International Realty
P.O. Box 210
433 Sixth Street
Crested Butte, CO 81224
970-596-3219 Cell
970-325-3219 World Wide Cell
970-349-6653 Office
970-797-1810 Fax
www.CrestedButteForSale.com