CRESTED BUTTE & GUNNISON
Quarterly Report
First Quarter - 2015
Contents 3 Overall Market Update 8 4 Single Family Market 10 6 Area Map 11 7 Condo and Townhome Market 12
Land Market Significant Sales Our Office Update Contact Us
Total Sales Volume for Q1 - 2015 Gunnison County
Total Transactions for Q1 - 2015 Gunnison County Percentage up for Q1 - 2015 Gunnison County
2 | 401 Elk Avenue | 970.349.6653
$24.0 68 26.5%
Million
$32.7 97 33.0%
Million
Quick Hits Total Sales Volume for Q1 - 2015 Upper Valley Total Transactions for Q1 - 2015 Upper Valley Percentage up for Q1 - 2015 Upper Valley
Overall Market Update
The start to 2015 was much busier than the start to 2014. Compared to last year we are up over 25% in sales volume in single family homes and vacant land. The only sector that saw a slight dip was condominiums and townhomes in Mt. Crested Butte. Not only was it busier throughout the first quarter but that also carried into the end of March. Many of our agents put numerous properties under contract in the last two weeks of March.There are currently 93 properties under contract of which our office commands 30 of those contracts. With the warmer temperatures and the snow melting out quickly we will have a short mud season and our real estate off season will be very short. More people will be looking in April, May and June than in years past which should equate for a strong second quarter in 2015. Upper Valley
Q1 - 2014
Q1 - 2015
Median Price
$204,500
$250,000
$381,537 306 $1,925,000 $13,000 50 94.5% $19,076,886
$352,955 356 $1,450,000 $25,000 68 92.1% $24,001,000
Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold
All Properties in Crested Butte, Mt. Crested Butte, Rural Crested Butte, CB South and Almont
Crested Butte
Steamboat
Crested Butte
Steamboat
Steamboat
Crested Butte
Crested Butte Compared to other Resorts
BensonSothebysRealty.com | 3
Single Family Market
Town of Crested Butte | Single Family Homes
Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold
Q1 - 2014
Q1 - 2015
$1,222,500 $1,222,500 129 $1,785,000 $660,000 2 95.9% $2,445,000
$842,500 $764,285 398 $1,075,000 $290,000 7 93.6% $5,350,000
Mt. Crested Butte | Single Family Homes Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold
Q1 - 2014
Q1 - 2015
$545,000 $546,000 247 $618,000 $475,000 3 95.0% $1,638,000
$486,000 $684,250 171 $1,450,000 $315,000 4 95.5% $2,737,000
Rural Crested Butte | Single Family Homes Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold
4 | 401 Elk Avenue | 970.349.6653
Q1 - 2014
Q1 - 2015
$444,000 $869,666 154 $1,925,000 $240,000 3 97.7% $2,609,000
$772,750 $863,875 502 $1,375,000 $535,000 4 93.2% $3,455,500
Single Family Market
Crested Butte South | Single Family Homes Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold
Q1 - 2014
Q1 - 2015
$515,500 $515,500 329 $571,000 $460,000 2 96.0% $1,031,000
$403,750 $395,625 142 $475,000 $300,000 4 95.7% $1,582,500
Rural Gunnison and Surrounding | Single Family Homes Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold
Q1 - 2014
Q1 - 2015
$278,900 $335,322 313 $675,000 $111,500 9 95.4% $3,017,900
$206,500 $486,375 180 $1,845,000 $163,000 8 93.1% $3,891,000
Town of Gunnison | Single Family Homes Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold
Q1 - 2014
Q1 - 2015
$154,375 $154,375 131 $173,750 $135,000 2 85.2% $308,750
$272,500 $283,500 482 $357,000 $225,000 6 96.5% $1,701,000
BensonSothebysRealty.com | 5
Overview Map
6
Legend 1
Crested Butte
2 Mt. Crested Butte 3 Skyland Golf 4 CB South 5 Gunnison 6 Almont 6 | 401 Elk Avenue | 970.349.6653
Condo and Townhome Market
Town Crested Butte | Condos and Townhomes Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold
Q1 - 2014
Q1 - 2015
$566,000 $566,000 317 $566,000 $566,000 1 95.1% $566,000
$385,000 $385,000 235 $385,000 $385,000 1 90.6% $385,000
Mt. Crested Butte | Condos and Townhomes Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold
Q1 - 2014
Q1 - 2015
$203,500 $308,272 241 $1,487,500 $59,000 20 93.5% $6,165,450
$215,000 $214,733 300 $525,000 $59,000 15 93.2% $3,221,000
Rural Crested Butte and Gunnison Areas | Condos and Townhomes Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold
Q1 - 2014
Q1 - 2015
$181,500 $269,614 358 $605,000 $89,686 6 94.7% $1,617,686
$130,000 $130,322 221 $280,000 $33,000 9 94.0% $1,172,900
BensonSothebysRealty.com | 7
Land Market
Town of Crested Butte | Residential Lots
Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold
Q1 - 2014
Q1 - 2015
-
$500,000 $451,142 383 $650,000 $90,000 7 94.9% $3,158,000
Mt. Crested Butte | Residential Lots Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold
Q1 - 2014
Q1 - 2015
$61,000 $61,000 352 $61,000 $61,000 1 88.4% $61,000
$362,500 $351,250 875 $510,000 $170,000 4 71.9% $1,405,000
Rural Crested Butte | All Lots and Land Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold
8 | 401 Elk Avenue | 970.349.6653
Q1 - 2014
Q1 - 2015
$134,250 $134,250 1007 $158,500 $110,000 2 93.2% $268,500
$99,000 $103,727 310 $225,000 $25,000 11 90.8% $1,141,000
Land Market
Crested Butte South | Residential Lots Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold
Q1 - 2014
Q1 - 2015
$37,500 $37,833 237 $39,000 $37,000 3 89.4% $113,500
$53,000 $49,500 180 $62,000 $30,000 4 95.7% $198,000
Rural Gunnison | All Lots and Land Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold
Q1 - 2014
Q1 - 2015
$267,500 $271,500 475 $500,000 $51,000 4 75.4% $1,086,000
$54,000 $203,500 601 $682,500 $30,000 5 98.4% $1,017,500
Gunnison County | All 11+ Acre and Over Parcels Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold
Q1 - 2014
Q1 - 2015
$185,000 $203,333 599 $350,000 $75,000 3 79.2% $610,000
$216,000 $216,000 337 $216,000 $216,000 1 90.0% $216,000
BensonSothebysRealty.com | 9
Significant Sales for First Quarter 2015
189 Eagle Creek Road | Rural Gunnison
40 Anthracite Drive | Mt. C.B.
Listed by Benson Sotheby’s International Realty Sold by St. James Realty Group
Listed by Benson Sotheby’s International Realty Sold by Benson Sotheby’s International Realty
411 Slate River Drive | Rural C.B.
701 Teocalli Avenue | Rural C.B.
Listed by Red Lady Realty Sold by Crested Butte Homes & Land Sales
Listed by Crested Butte Homes & Land Sales Sold by Keller Williams Realty Colorado Heritage
Sold for $1,845,000
Sold for $1,375,000
Sold for $1,450,000
Sold for $1,075,000
212 Sopris Avenue | Crested Butte
69 Fairway Drive | Rural C. B.
Listed by Red Lady Realty Sold by Red Lady Realty
Listed by Rozman Realty Sold by Benson Sotheby’s International Realty
Sold for $1,025,000
10 | 401 Elk Avenue | 970.349.6653
Sold for $1,000,000
Benson Sotheby’s International Realty Stats • We are the leading real estate brokerage in Crested Butte by over $14.1 million in total sales volume compared to our closest competitor in 2014. • Our office currently has a 30% market share of sales volume in 2014 in the Crested Butte area. • We have been involved in 210 sides of the total transactions, which is the most in the Crested Butte area. • We sold over $39.8 million worth of listings in 2014 • Our brokers were very successful in 2014. • The top 2 brokers in sales volume in Crested Butte are from our office while 4 of the top 5 are from our office. • The top 3 selling brokers in Crested Butte are from our office while 4 of the top 5 are from our office. • The top 2 brokers in number of transactions in Crested Butte are from our office. All data was pulled from the Gunnison County Association of Realtors MLS. Verify with a local Realtor. All information is deemed reliable but not guaranteed. Each office is independently owned and operated.
BensonSothebysRealty.com | 11
Contact Us
If you would like more information about this Quarterly Market Report or would like to view properties in the Crested Butte and Gunnison area please contact one of our knowledgeable brokers.
Cathy Benson 970.209.5015
Sam Lumb
Channing Boucher
Corey Dwan
Gary Huresky 970.209.2421
970.275.2554
970.596.3228
970.596.3219
Kiley Flint
970.275.2448
970.275.9357
Jaima Giles
Karen Redden
Megan Clark
Larry Neilson
Katy Mattson
Jill Matlock
Jamie Watt
Wayne Meredith
Dustin Kujawski
970.275.4601
970.275.0595
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Marketing Director
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