Crested Butte and Gunnison Quarterly Report Second Quarter 2015

CRESTED BUTTE & GUNNISON

Quarterly Report

Second 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 Q2 - 2015 Gunnison County

Total Transactions for Q2 - 2015 Gunnison County Percentage up for Q2 - 2015 Gunnison County

2 | 401 Elk Avenue | 970.349.6653

$65.4 158 32.1%

Million

$91.6 257 42.9%

Million

Quick Hits Total Sales Volume for Q2 - 2015 Upper Valley Total Transactions for Q2 - 2015 Upper Valley Percentage up for Q2 - 2015 Upper Valley

Overall Market Update

The first half of 2015 has been very strong. We have had our largest sales volume months in May and June since 2007. Almost every segment of our market has seen increases in total sales volume and increases in median and average price. Some of the larger gains were made in Rural Crested Butte homes and Gunnison area homes. Vacant land has also started to trade again with more parcels selling around Gunnison County.

The outlook for the rest of 2015 remains positive. The summer selling season will be another strong one as there are more visitors in the area, prices here are still favorable compared to other resort towns and historically we close on more real estate in August, September and October. Average prices will continue to increase as inventory continues to decrease.

Upper Valley - January to June Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

2014

2015

$265,000

$262,000

$405,553 328 $1,925,000 $13,000 122 92.9% $49,477,575

$413,802 318 $2,750,000 $4,700 158 91.6% $65,380,861

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

January to June Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

2014

2015

$887,500 $977,455 255 $1,785,000 $550,000 10 94.7% $9,774,500

$750,000 $827,846 354 $1,925,000 $290,000 13 94.2% $10,762,000

Mt. Crested Butte | Single Family Homes January to June Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

2014

2015

$614,450 $713,130 420 $1,375,000 $475,000 10 91.5% $7,131,300

$525,000 $718,714 381 $1,450,000 $315,000 7 94.7% $5,031,000

Rural Crested Butte | Single Family Homes January to June 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

2014

2015

$472,000 $756,666 189 $1,925,000 $240,000 6 94.1% $4,540,000

$1,165,000 $1,281,346 338 $2,750,000 $375,000 13 89.9% $16,657,500

Single Family Market

Crested Butte South | Single Family Homes January to June Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

2014

2015

$412,000 $418,166 215 $571,000 $284,000 6 96.6% $2,509,000

$442,500 $446,437 125 $644,000 $300,000 8 95.0% $3,571,500

Rural Gunnison and Surrounding | Single Family Homes January to June Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

2014

2015

$325,000 $334,066 339 $675,000 $17,500 21 94.1% $7,015,400

$230,000 $362,816 253 $1,845,000 $43,500 37 95.3% $13,424,220

Town of Gunnison | Single Family Homes January to June Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

2014

2015

$173,375 $190,485 360 $337,000 $135,000 10 95.5% $1,904,850

$234,000 $238,496 243 $382,500 $95,075 32 96.7% $7,631,875

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 January to June Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

2014

2015

$508,000 $462,125 491 $640,000 $192,500 4 93.2% $1,848,500

$362,200 $387,742 198 $740,000 $169,000 7 96.8% $2,714,200

Mt. Crested Butte | Condos and Townhomes January to June Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

2014

2015

$217,500 $292,378 294 $1,487,500 $59,000 42 93.2% $12,279,889

$219,000 $266,580 353 $1,075,000 $47,500 31 94.0% $8,264,000

Rural Crested Butte and Gunnison Areas | Condos and Townhomes January to June Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

2014

Q1 - 2015

$175,000 $231,564 222 $605,000 $62,900 23 94.6% $5,325,986

$151,000 $200,710 275 $772,661 $33,000 25 95.3% $5,017,761

BensonSothebysRealty.com | 7

Land Market

Town of Crested Butte | Residential Lots

January to June Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

2014

2015

$425,000 $425,000 329 $550,000 $300,000 2 97.1% $850,000

$500,000 $451,142 383 $650,000 $90,000 7 94.9% $3,158,000

Mt. Crested Butte | Residential Lots January to June Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

2014

2015

$124,000 $121,000 203 $175,000 $61,000 4 93.6% $484,000

$240,000 $301,687 661 $510,000 $125,000 8 81.6% $2,413,500

Rural Crested Butte | All Lots and Land January to June 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

2014

2015

$158,500 $158,500 654 $225,000 $94,000 4 95.4% $792,500

$98,500 $143,333 315 $750,000 $25,000 18 86.5% $2,580,000

Land Market

Crested Butte South | Residential Lots January to June Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

2014

2015

$38,250 $42,375 548 $56,000 $37,000 4 91.1% $169,500

$53,500 $60,931 190 $175,000 $30,000 22 92.6% $1,340,500

Rural Gunnison | All Lots and Land January to June Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

2014

2015

$67,000 $209,050 499 $1,500,000 $41,000 10 76.0% $2,090,500

$871,500 $871,500 921 $1,700,000 $43,000 2 96.7% $1,743,000

Gunnison County | All 11+ Acre and Over Parcels January to June Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold

2014

2015

$215,000 $335,050 544 $1,500,000 $49,000 10 81.3% $3,350,500

$483,750 $651,416 608 $1,700,000 $216,000 6 90.1% $3,908,500

BensonSothebysRealty.com | 9

Significant Sales through Second Quarter 2015

426 Red Mountain Ranch Rd | Rural C.B.

12 Garland Drive | Rural C.B.

Listed by Benson Sotheby’s International Realty Sold by Benson Sotheby’s International Realty

Listed by Red Lady Realty Sold by Coldwell Banker Bighorn Realty

4 Moon Ridge Lane | Rural C.B.

822 Sopris Avenue | Town of C.B.

Listed by Red Lady Realty Sold by Red Lady Realty

Listed by Benson Sotheby’s International Realty Sold by Benson Sotheby’s International Realty

Sold for $2,750,000

Sold for $2,237,000

Sold for $2,475,000

Sold for $1,925,000

189 Eagle Creek Road | Rural Gunnison

TBD Wildwater Way | Almont

Listed by Benson Sotheby’s International Realty Sold by St. James Realty Group

Listed by BCW Investments LLC Sold by BCW Investments LLC

Sold for $1,845,000

10 | 401 Elk Avenue | 970.349.6653

Sold for $1,700,000

Benson Sotheby’s International Realty Stats • We are the leading real estate brokerage in Crested Butte by $29 million in total sales volume compared to our closest competitor in 2015.

• Our office currently has a 39% market share of sales volume in 2015 in the Crested Butte area. A 9% increase from 2014.

• We have been involved in 89 sides of the total transactions, which is by far the most in the Crested Butte area.

• We sold over $29.2 million worth of listings in 2015. We sold $39.4 million in all of 2015.

• Our brokers have been very successful so far in 2015.

• The top 3 brokers in sales volume in Crested Butte are from our office.

• The top 3 selling brokers in Crested Butte are from our office, while 4 of the top 7 are from our office.

• The top buyers’ broker in Crested Butte is from our office, while 3 of the top 6 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

C ontact 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 our brokers.

MANAGEMENT AND STAFF

Cathy Benson 970.209.5015 Broker/Owner

Dustin Kujawski 970.275.0262 Manager/Marketing

Dawn Schnell 970.349.6653 Office Assistant

OUR BROKERS

Channing Boucher 970.596.3228

Corey Dwan 970.596.3219

Sam Lumb 970.275.2448

Gary Huresky 970.209.2421

Kiley Flint 970.275.2554

Jaima Giles 970.275.9357

Wayne Meredith 970.209.2706

Larry Neilson 970.209.7849

Katy Mattson 970.275.4601

Megan Clark 970.209.3537

Jamie Watt 970.209.2675

Jill Matlock 970.275.0595

BensonSothebysRealty.com