YTD Crested Butte Real Estate Market Report through June

Sales Volume numbers represent all Single Family Homes, Condos, Townhomes and Land sales in the North End of the Gunnison Valley, including Almont, CB South, Rural Crested Butte, Crested Butte, Mt. Crested Butte and Rural Mt. Crested Butte as shown in the Gunnison Country
Association of Realtors MLS. Information contained herein deemed reliable, but not guaranteed.
CHRIS KOPF
PREVIEWS® PROPERTY SPECIALIST
COLDWELL BANKER BIGHORN REALTY
cell: 970.209.5405
chriskopf@bighornrealty.com
www.chriskopf.com
CRESTED BUTTE REAL ESTATE MARKET REPORT
2014 YEAR TO DATE – THROUGH JUNE
PREPARED BY CHRIS KOPF
PROPERTIES !
UNDER !
CONTRACT
38
ACTIVE!
LISTINGS
IN THE MLS
746
MEDIAN
PRICE
SINGLE
FAMILY
HOME!
$618,000

DISTRESSED
PROPERTY
SALES
DOWN
AS % OF OVERAL 
TRANSACTIONS

6%!
LUXURY !
PROP. SOLD!
YTD = 7!
% OF !
TOTAL VOLUME!
= 21%!
CHRIS KOPF
cell: 970.209.5405
www.chriskopf.com
All Properties % Difference !
Asking Price vs. Sold Price
-7.15%

CHRIS KOPF
cell: 970.209.5405
www.chriskopf.com
Crested Butte Real Estate Market Report –
Year to Date through June 30, 2014
Crested Butte Real Estate Results Continues to Lag Previous Years
There is a buzz around Crested Butte and the Crested Butte Real
Estate - but the results fall short of previous years totals when
looking at the year to date (YTD) numbers.
With both Q1 and Q2 number in, we see Total Number of Properties
Sold down 26%, Total Volume down 28%. There is still optimism
for the 2nd half of 2014 – but unclear if the market can achieve the
high volume of 2013 – my prediction is we will see results similar to
2012. Given these numbers it is interesting we are seeing a rise in
Average Price per square foot for both Single Family homes (5%)
and Town homes and Condos (20%) purchased (this may be a result
of the mix of properties purchased and small sample size).
Year to date Single Family homes made up 51% of the total volume
representing $23.5M and 31 transactions with an average sales price
of 760,600 and median price of $618,000. There were 63 Condos &
Townhome transactions YTD and this represented $18.9M in
volume and an average sales price of $251,400 and median sales
price of $175,000.
YTD Total $ Volume
of Properties Sold
YTD Total Number
of Properties Sold
Month 2011 2012 2013 2014
JAN $4,216,000 $13,923,750 $8,751,700 $5,773,686
FEB $2,778,078 $4,545,898 $8,671,475 $7,026,450
MAR $8,091,400 $6,600,200 $10,261,486 $3,803,000
APR $9,259,925 $8,057,800 $17,126,400 $8,187,800
MAY $8,391,150 $10,228,700 $8,539,400 $14,169,200
JUNE $7,010,900 $9,121,865 $11,327,749 $7,331,189
Totals $32,736,553 $43,356,348 $53,350,461 $38,960,136

CHRIS KOPF
cell: 970.209.5405
www.chriskopf.com
Crested Butte Luxury Real Estate Market - Properties Sold for $1 Million + Year to Date
High-end Land / Riverfront Home sites - There are 139 properties Listed for over $1M and 43 vacant parcels ready to build on.
Of these the majority are in Mt. Crested Butte in the Prospect Subdivision – offering Ski-in / Ski-out lots. The next large category
are developments offering 35 Acre parcels and multiple miles of live water fishing access as well as equestrian amenities – these
lots are primarily located in The Reserve on the East River and Wilder on the Taylor. There is a new luxury home site listing in
East River Ranches that has a unique riverfront home site on the East River with 1.5 Miles of fishing access and located only 4
miles from downtown Crested Butte.
Year
Total #
Luxury
Homes Sold
$ Volume
Luxury
Homes Sold
Avg. Price Per
Sq. Ft
2009 2 $2,670,000 $329
2010 5 $6,325,000 $332
2011 6 $10,323,500 $500
2012 6 $12,200,000 $428
2013 11 $19,153,000 $396
2014 7 $9,822,050 $396
2014 YTD Luxury
Properties $1M+ Sold
Total Sold by
Category
Average
Sold Price
Total Asking
Price by
Category
Average
Asking
Price
Total Original
Price by
Category
Average
Original
Price
%
Difference
Original
Price vs.
Sold Price
%
Difference
Asking Price
vs. Sold
Price
Average
Price
Per Sq.
Foot
Count of #
Properties
Sold
Total All Sales $12,809,550 $1,601,194 $14,209,000 $1,776,125 12,504,000 $1,563,000 2.44% -9.85% 8
Condos & Townhomes $1,487,500 $1,487,500 $1,600,000 $1,600,000 1,650,000 $1,650,000 -9.85% -7.03% $664 1
Single Family Homes $7,897,050 $1,128,150 $8,609,000 $1,229,857 8,854,000 $1,264,857 -10.81% -8.27% $318 7
Mt. Crested Butte $2,862,500 $1,431,250 $3,250,000 $1,625,000 3,049,000 $1,524,500 -6.12% -11.92% $383 2
Mt. CB Single Family Homes $1,375,000 $1,375,000 $1,650,000 $1,650,000 1,650,000 $1,650,000 -16.67% -16.67% $263 1
Crested Butte Single Family Homes $5,422,050 $1,355,513 $5,709,000 $1,427,250 5,805,000 $1,451,250 -6.60% -5.03% $472 4
Skyland Single Family Homes None Sold 0
Land/Lots $1,500,000 $1,500,000 $2,050,000 $2,050,000 1,595,000 $1,595,000 -5.96% -26.83% 1
There have been 9 properties sold for over $1M YTD. The total high-end volume of $9.8M makes up 21% of the overall market
volume YTD. There were 7 Single Family homes that Sold for $1M or more YTD 2014; this is compared with 11 during this same
period in 2013, and 6 in 2012. The average sold price for these homes was $1.128M; median price of $1.26M, and Average Price
per sq. ft. was $396. There has been 1 luxury condo sold for $1.49M – this was a ski-in/ski-out Silver Ridge Condo sold fully
furnished. There has also been 1 parcel of land sold for $1.5M – this was a
riverfront home site at The Wilder on the Taylor (the Wilder on the Taylor
is a 2,100-acre ranch with 5 miles of live water running through it.
Luxury Properties For Sale in the Crested Butte Area
There are a total of 139 properties Listed for over $1M. 89 Single Family
Homes for sale with Asking Prices over $1M for a total Volume of $187M.
There are a handful of high-end luxury condos and town homes for sale in
Mt. Crested Butte at both the ski-in/out West Wall, and The Villas.

CHRIS KOPF
cell: 970.209.5405
www.chriskopf.com
Single Family Homes!
$ Per Sq. Ft.
Averages(for(Single(Family(Homes((&(Condo(prices(Starting(to(Rise(
(
Single(Family((SF)(homes!–!Comparing!YTD!2014!results!to!prior!years!we!see!that!
the!price!per!sq.!ft.!for!Single!Family!homes!has!risen!about!5%!from!$281!to!$295!
per!sq.!ft.!Looking!at!the!details!in!the!tables!you!will!see!these!prices!per!sq.!ft.!vary!
based!on!the!area!–!as!example!Downtown!Crested!Butte!shows!$426,!Mt.!Crested!
Butte!$262,!Skyland!$403,!and!CB!South!$194!as!averages!per!sq.!ft.!
!
Condos(and(Townhomes!have!seen!a!steady!rise!in!price!points!in!the!past!four!
years.!Looking!back!at!previous!Market!Reports!for!full!years!in!2012!to!2013!the!
Average!Price!per!sq.!ft.!for!Condos!and!Townhomes!was!$198!and!$209!
respectively.!!So!the!2014!YTD!Average!price!per!sq.!ft.!of!$250!is!quite!a!jump!and!
may!be!more!a!factor!of!the!mix!of!condos!&!townhomes!sold.!
!
What(Real(Estate(is(Selling(in(the(Crested(Butte(area?((Given!the!inventory!and!
price!points!of!Condos!and!Townhomes!this!category!represents!the!most!
transactions!(63),!with!Single!Family!homes!making!up!the!second!largest!count!
(31).!!As!the!table!shows!the!Luxury!Single!Family!Homes!Sold!over!$1M!represents!
21%!of!the!dollar!volume!in!our!market,!and!Land!or!Lots!represents!only!6%!of!the!
transactions!but!18%!of!the!total!volume!sold!YTD.!
Condo / Town Homes!
$ Per Sq. Ft.
2014 YTD TOTALS - CATEGORY
$ Volume of
Properties Sold
% of Total
Count of #
Properties
Sold
% of Total
Total All Sales $46,516,325 114
Condos & Townhomes $18,948,475 41% 63 55%
Single Family Homes $23,579,850 51% 31 27%
Mt. Crested Butte $19,895,189 43% 56 49%
Mt. CB Single Family Homes $7,131,300 15% 10 9%
Crested Butte Single Family Homes $9,774,550 21% 10 9%
Skyland Single Family Homes $1,925,000 4% 1 1%
CB South Single Family Homes $2,134,000 5% 5 4%
Almont $1,906,500 4% 5 4%
Land/Lots $3,988,000 9% 20 18%
SF Homes Sold > $1M $9,822,050 21% 7 6%

CHRIS KOPF
cell: 970.209.5405
www.chriskopf.com
A Rise in Prices for Single Family Homes and
Condos & Townhomes
Single Family (SF) homes – Comparing Year to Date
(YTD) results from 2014 to prior years we see that the
Median Price for Single Family homes has risen from
$527,000 to $618,000 and Average SF Home price has
risen slightly from $752,000 to $760,000. This may be
a result of the sample set – as there were only 31
Single Family Homes Sold in 2014 compared with a
larger sample set of 54 in 2013.
Prices Firm up, SF homes Priced Closer to the
Market -- Asking Price to Selling Price for Single
Family homes has dropped from 10.6% to 6.2% in the
past 3 years.
Condos & Townhomes – The activity for Condos and
Town homes is strong. Sales Prices for Condos shows
a fairly flat trend - Median Sales Price currently at
$175,000 and Average Sales Price is $251,400.
Crested Butte Land Sold
Inventories for finished homes has been dropping over the past few years – but with 445 Single Family
homes, Condos & Townhomes on the market – there are many good choices… the activity in the Land/
Lots category is still lagging the previous 2 years. As the table shows there have been 20 parcels Sold
YTD compared with 30 in 2013, and 31 in 2012 for the same period. 10 of the 20 lots sold were under
$100,000 and a dozen of the lots were under 1 acre, and 5 were 35 - 40 acre parcels. With over 300
parcels for sale – and high quality architects and builders in the valley – there is the opportunity to find
the perfect location with spectacular views to build a mountain dream home.
Distressed Properties - Foreclosures & Short Sales - as you can see from the table this category of
property has become a footnote in our market compared with previous years representing only 6% of our
current transactions and $2.3M in total volume.
Condo Median
Sales Price
Single Family Home!
Median Sales Price
Condo Average
Sales Price
Single Family Home!
Average Sales Price
Land / Lots
Sold
YTD Count YTD %
YTD 2010 10 13%
YTD 2011 17 15%
YTD 2012 31 23%
YTD 2013 30 18%
YTD 2014 20 11%
Short Sales &
Foreclosures YTD Count YTD %
YTD 2010 16 21%
YTD 2011 62 53%
YTD 2012 37 28%
YTD 2013 42 27%
YTD 2014 7 6%

CHRIS KOPF
cell: 970.209.5405
www.chriskopf.com
The detail below represents the past three years data by category. Interesting note for both Buyers and Sellers: after 3 years of price decline, most properties are priced to the Market and offer
great value, evidence by % Difference Original Price vs. Sold Price and the % Difference Asking Price vs. Sold Price by Category, on average 7.1% for all property types.
2014 YTD Totals
Total Sold
by Category
Average
Sold Price
Total Asking
Price by
Category
Average
Asking
Price
Total Original
Price by
Category
Average
Original
Price
% Difference
Original Price
vs. Sold Price
% Difference
Asking Price
vs. Sold Price
Average
Price Per
Sq. Foot
Count of #
Properties
Sold
Total All Sales $46,516,325 408,038 $50,097,949 439,456 52,437,475 459,978 -11.29% -7.15% 114
Condos & Townhomes $18,948,475 300,769 $20,219,849 320,950 22,451,625 356,375 -15.60% -6.29% $250 63
Single Family Homes $23,579,850 760,640 $25,159,100 811,584 26,063,400 840,755 -9.53% -6.28% $295 31
Mt. Crested Butte $19,895,189 355,271 $21,492,649 383,797 23,683,125 422,913 -15.99% -7.43% $262 56
Mt. CB Single Family Homes $7,131,300 713,130 $7,795,700 779,570 8,355,500 835,550 -14.65% -8.52% $231 10
Crested Butte Single Family Homes $9,774,550 977,455 $10,317,500 1,031,750 10,489,000 1,048,900 -6.81% -5.26% $426 10
Skyland Single Family Homes $1,925,000 1,925,000 $1,950,000 1,950,000 1,950,000 1,950,000 -1.28% -1.28% $403 1
CB South Single Family Homes $2,134,000 426,800 $2,222,000 444,400 2,246,000 449,200 -4.99% -3.96% $194 5
Almont $1,906,500 381,300 $2,544,000 508,800 2,327,400 465,480 -18.08% -25.06% $4,650 5
Land/Lots $3,988,000 199,400 $4,719,000 235,950 4,757,100 237,855 -16.17% -15.49% 20
SF Homes Sold > $1M $9,822,050 1,403,150 $10,559,000 1,508,429 10,804,000 1,543,429 -9.09% -6.98% $396 7
2013 YTD Totals
Total Sold
by Category
Average
Sold Price
Total Asking
Price by
Category
Average
Asking
Price
Total Original
Price by
Category
Average
Original
Price
% Difference
Original Price
vs. Sold Price
% Difference
Asking Price
vs. Sold Price
Average
Price Per
Sq. Foot
Count of #
Properties
Sold
Total All Sales $64,678,210 419,988 $71,283,053 462,877 78,180,100 507,663 -17.27% -9.27% 154
Mt. Crested Butte $23,103,411 405,323 $25,618,350 449,445 24,994,150 438,494 -7.56% -9.82% $299 57
Mt. CB Single Family Homes $9,905,000 1,100,556 $11,153,900 1,239,322 13,037,400 1,448,600 -24.03% -11.20% $354 9
Crested Butte Single Family Homes $7,916,005 791,601 $8,335,900 833,590 8,750,400 875,040 -9.54% -5.04% $408 10
Skyland Single Family Homes $3,597,000 899,250 $3,834,000 958,500 4,564,000 1,141,000 -21.19% -6.18% $330 4
Almont $105,550 105,550 $91,000 91,000 95,900 95,900 10.06% 15.99% $68 1
Land/Lots $4,619,236 153,975 $5,422,200 180,740 5,631,750 187,725 -17.98% -14.81% 30
SF Homes Sold > $1M $19,153,000 1,741,182 $21,694,000 1,972,182 23,644,000 2,149,455 -18.99% -11.71% $417 11
2012 YTD Totals
Total Sold
by Category
Average
Sold Price
Total Asking
Price by
Category
Average
Asking
Price
Total Original
Price by
Category
Average
Original
Price
% Difference
Original Price
vs. Sold Price
% Difference
Asking Price
vs. Sold Price
Average
Price Per
Sq. Foot
Count of #
Properties
Sold
Total All Sales $52,478,213 394,573 $60,391,898 454,074 73,888,897 555,556 -28.98% -13.10% 133
Mt. Crested Butte $22,007,500 360,779 $26,236,100 430,100 26,635,899 436,654 -17.38% -16.12% $285 61
Mt. CB Single Family Homes $9,855,000 985,500 $11,206,500 1,120,650 14,137,000 1,413,700 -30.29% -12.06% $292 10
Crested Butte Single Family Homes $10,413,513 650,845 $11,184,798 699,050 12,586,798 786,675 -17.27% -6.90% $327 16
Skyland Single Family Homes $1,615,000 $538,333 $1,764,000 $588,000 $1,764,000 $588,000 -8.45% -8.45% $301 3
Almont $994,500 331,500 $1,129,900 376,633 1,289,500 429,833 -22.88% -11.98% $242 3
Land/Lots $6,032,700 194,603 $8,296,000 267,613 8,633,600 278,503 -30.13% -27.28% 31
SF Homes Sold > $1M $12,200,000 2,033,333 $14,126,500 2,354,417 16,645,000 2,774,167 -26.70% -13.64% $428 6

CHRIS KOPF
cell: 970.209.5405
www.chriskopf.com
!
Crested Butte Visitors Love the Summer – Many have commented they have
never seen so many people here for the 4th of July. I have also heard that at this
point the inventory of short-term rental properties are nearly all booked for the
remainder of the Summer. This bodes well for the Crested Butte area as more
people are coming here to enjoy the charm of our towns the beauty of our
surrounding mountains and the opportunity to create life-long family memories.
The 4th of July fireworks show this year on Mt. CB with live music was awesome.
I have heard that there will be approximately 75 Weddings in the Crested Butte
area this Summer. Destination weddings here have blossomed here in recent years
– and there are many great venues for both the service and the reception here in
CB. One of my daughters has been working 14-hour days for Maxwell’s restaurant
who do a great job of catering these events. The Mt. Crested Butte Performing Arts
Center (MCPAC) made some big announcements recently – and along with hosting
performing arts events, this will also be a first class facility for weddings and
receptions.
There are lots of choices in Real Estate properties and price points in Crested Butte,
representing great values (especially compared with some of the other more glitzy
mountain towns in Colorado and the West). Call me to help you find that perfect
mountain property for you and your family.
How can I help you? This Crested Butte Real Estate Market report and the level
of detail is representative of what you can expect from me as your Real Estate
Agent. If you are interested in finding out what your existing property is worth, or
considering me to represent you as a Buyer, I would appreciate the opportunity to
earn your business (or that of a friend you think I could help).
To see featured properties or search the MLS – visit www.chriskopf.com. Contact
me at: (970) 209-5405, or chriskopf@bighornrealty.com
Thanks,
Under Contract Of the 24 properties Under Contract 16 are
Condos/Townhomes, 15 are Single Family homes and 7 are lots. At
the end of June there were 38 properties Under Contract
representing a total volume of $22M.
Active Listings There are 746 properties For Sale in our market
representing $521M – this is a bit less than a year ago when we saw
800 properties for Sale. There continues to be a slight reduction in
Average Listing Price compared with the same time in 2013.
All Properties
Under Contract
Total Under
Contract by
Asking Price
Average
Under
Contract by
Asking
Price
Count of #
Properties
Under
Contract
Total All Properties Under Contract $22,039,800 $579,995 38
Condos & Townhomes $3,078,300 $192,394 16
Single Family Homes $15,452,500 $1,030,167 15
Mt. Crested Butte $5,187,300 $288,183 18
Mt. CB Single Family Homes $2,285,000 $761,667 3
Crested Butte Single Family Homes $2,520,000 $840,000 3
Skyland Single Family Homes None None 0
CB South Single Family Homes $678,500 $339,250 2
Land/Lots $3,509,000 $501,286 7
SF Homes > $1M $12,975,000 $1,853,571 7
Almont $3,000,000 $933,333 3
35 Acre SF Homes $7,085,000 $2,361,667 3
All Current Listings
Total Current
Listing Price
by Category
Average
Listing Price
Count of #
Properties on
the Market
Total All Sales $521,886,145 $699,579 746
Condos & Townhomes $85,361,318 $354,196 241
Single Family Homes $262,829,902 $1,288,382 204
Mt. Crested Butte $193,563,497 $660,626 293
Mt. CB Single Family Homes $80,632,450 $1,439,865 56
Crested Butte Single Family Homes $41,741,350 $1,070,291 39
Skyland Single Family Homes $15,398,999 $1,399,909 11
CB South Single Family Homes $10,688,699 $562,563 19
Almont $22,854,820 $486,273 47
Land/Lots $173,694,925 $577,060 301
SF Homes > $1M $186,772,748 $2,098,570 89
35 Acre SF Homes $53,635,899 $2,234,829 24

YTD Crested Butte Real Estate Market Report through June

Recommended

Recommended

More Related Content

Recently uploaded

Recently uploaded (20)

Featured

Featured (20)

YTD Crested Butte Real Estate Market Report through June