CRESTED BUTTE & GUNNISON
Quarterly Report
Q3: July - September 2013
Table of Contents Real Estate Market Update ............................................................. 3 Single Family Market Info ............................................................ 4 - 5 Area Map .............................................................................................. 6 Condo and Townhome Market Info .............................................7 Land Market Info ............................................................................ 8 - 9 Significant Sales ..................................................................................10 Benson Sotheby’s International Realty Update ........................... 11 Contact Us ......................................................................................... 12
Total Sales Volume YTD in Gunnison County
Million
Million
Quick Hits $107.8 $135.9 257 381 145% 141%
Total Sales Volume YTD in Upper Valley
Total Transactions YTD in Gunnison County
Total Transactions YTD in Upper Valley
Percentage over last year YTD in Gunnison County
Percentage over last year YTD in Upper Valley
2 | 401 Elk Avenue | 970.349.6653
Real Estate Market Update The overall real estate market has improved greatly for 2013 over this same time period in 2012. In the upper valley our sales volume in the first three quarters has already surpassed the entire year of 2012. The next few pages show all aspects of Single Family Homes, Condos and Townhomes increasing in total sales volume and the majority of individual areas have seen an increase in average price, more properties have sold within 10% or less of list price, and fewer days on market. Vacant Land and Lots are kind of a mixed bag with the exception of the Town of Crested Butte as the only area with strong numbers throughout. The thrid quarter was very strong, with $64 million in sales this quarter alone. 13 of the properties were sold at over $1 million. January through September
2012
2013
Median Price
$284,750
$250,000
Average Price
$388,314
$419,483
398
320
$4,000,000
$4,250,000
$7,800
$4,000
192
257
87.8%
92.0%
$74,556,368
$107,807,141
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 Allmont
BensonSothebysRealty.com | 3
Single Family Market Info Town of Crested Butte - Single Family Homes January through September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold
2012
2013
$512,500 $643,796 348 $1,900,000 $95,000 22 93.5% $14,163,513
$681,375 $800,208 390 $1,900,000 $210,000 18 95.5% $14,403,755
Mt. Crested Butte - Single Family Homes January through September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold
2012
2013
$650,000 $860,063 395 $4,000,000 $310,000 15 89.6% $12,900,950
$850,000 $1,103,390 332 $4,250,000 $280,000 17 90.8% $18,757,630
Rural Crested Butte - Single Family Homes January through September 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
2012
2013
$482,500 $729,105 331 $2,475,000 $151,000 18 86.3% $13,123,900
$530,000 $821,828 327 $3,700,000 $165,000 35 91.1% $28,764,000
Single Family Market Info Crested Butte South - Single Family Homes January through September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold
2012
2013
$334,250 $349,525 198 $648,500 $200,000 12 95.9% $4,194,300
$350,000 $376,223 137 $589,000 $299,000 13 96.1% $4,890,900
Rural Gunnison and Surrounding - Single Family Homes January through September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold
2012
2013
$224,607 $234,430 322 $450,000 $54,000 51 92.5% $11,955,932
$221,000 $296,715 265 $1,675,000 $72,000 50 93.2% $14,835,773
Town of Gunnison - Single Family Homes January through September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold
2012
2013
$170,750 $175,620 196 $250,000 $60,000 20 95.4% $3,512,400
$235,000 $257,634 216 $450,000 $143,500 29 97.0% $7,471,400
BensonSothebysRealty.com | 5
Area Map Meridian Lake Park
Skyland Trappers Crossing
Crested Butte South
Red Mountain Ranch Reserve on the East River Danni Ranch
Ohio Creek Valley
Blue Mesa Reservoir
6 | 401 Elk Avenue | 970.349.6653
Condo Market Info Town Crested Butte - Condos and Townhomes January through September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold
2012
2013
$232,500 $265,666 349 $425,000 $150,000 6 92.1% $1,594,000
$282,000 $238,532 163 $368,508 $62,281 9 95.1% $2,146,789
Mt. Crested Butte - Condos and Townhomes January through September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold
2012
2013
$222,000 $222,360 319 $1,030,000 $50,000 48 87.9% $10,673,300
$186,100 $257,750 351 $932,500 $43,000 67 92.6% $17,269,281
Rural Crested Butte and Gunnison Areas - Condos and Townhomes January through September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold
2012
2013
$222,500 $277,629 325 $755,000 $39,500 24 91.3% $6,663,105
$192,900 $222,746 208 $750,000 $49,900 41 93.2% $9,132,600
BensonSothebysRealty.com | 7
Land Market Info Town of Crested Butte - Residential Lots January through September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold
2012
2013
$363,000 $407,750 226 $580,000 $325,000 4 92.3% $1,631,000
$571,500 $631,642 305 $1,250,000 $85,000 7 92.0% $4,421,500
Mt. Crested Butte - Residential Lots January through September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold
2012
2013
$206,500 $238,637 734 $625,000 $80,000 16 69.8% $3,818,200
$136,000 $141,050 447 $325,000 $30,000 10 89.3% $1,410,500
Rural Crested Butte - All Lots and Land January through September 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
2012
2013
$140,000 $209,909 371 $775,000 $27,500 11 78.6% $2,309,000
$115,043 $174,692 422 $1,150,000 $25,500 28 87.0% $4,891,386
Land Market Info Crested Butte South - Residential Lots January through September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold
2012
2013
$39,000 $48,071 1,170 $88,000 $25,000 7 70.6% $336,500
$28,500 $35,958 611 $63,750 $20,000 6 86.9% $215,750
Rural Gunnison - All Lots and Land January through September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold
2012
2013
$70,000 $216,442 493 $2,300,000 $5,000 21 87.1% $4,545,300
$70,000 $79,614 420 $290,000 $8,500 17 91.6% $1,353,450
Gunnison County - All 11 Acre and Over Parcels January through September Median Price Average Price Average Days on Market Highest Price Lowest Price Properties Sold % Sold Price to Original List Price Total Volume Sold
2012
2013
$100,000 $138,928 481 $400,000 $5,000 7 92.8% $972,500
$144,000 $263,086 307 $1,150,000 $35,000 11 85.7% $2,893,950
BensonSothebysRealty.com | 9
Significant Sales in Q3 11 Glacier Lily Way | Mt. Crested Butte
4 Peakview Drive | Mt. Crested Butte
Listed and Sold by Coldwell Banker Bighorn Realty
Listed by Benson Sotheby’s International Realty Sold by Coldwell Banker Bighorn Realty
359 Old Cottonwood Lane | Gunnison
15535 Highway 135 | Crested Butte
Listed by Keller Williams Realty Sold by Crested Butte Resort Real Estate
Listed by Benson Sotheby’s International Realty Sold by Keller Williams Realty
1 Treasury Hill Road | Crested Butte
2200 Eagle Hill Road | Gunnison
Listed by Benson Sotheby’s International Realty Sold by Coldwell Banker Bighorn Realty
Listed by Benson Sotheby’s International Realty Sold by Mindy Costanzo, IB
29 Summit Road | Mt. Crested Butte
481 Reservoir Road | Crested Butte
Listed and Sold by Coldwell Banker Bighorn Realty
Listed and Sold by Keller Williams Realty
Sold for $1,395,000
Sold for $1,500,000
Sold for $1,560,000
Sold for $2,100,000
10 | 401 Elk Avenue | 970.349.6653
Sold for $1,483,630
Sold for $1,550,000
Sold for $1,675,000
Sold for $3,700,000
Benson Sotheby’s International Realty Update • In only 3 quarters our office has surpassed our total sales volume for the entire year of 2012 • Through 3 quarters we are the leading real estate brokerage in Crested Butte by $11 million • Through 3 quarters our office has been involved in 145 sides of the total transactions, while our closest competitor has 88 sides • Through 3 quarters we have sold over $32,000,000 worth of Benson Sotheby’s International Realty listings • Of the 49 properties currently under-contract our office is a part of 25 of the transactions • The total listing price of these 25 transactions is $18,910,800; nearly two thirds of the listing volume that is presently under-contract 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 any of the figures in this report or would like view properties in the Crested Butte and Gunnison area please contact one of our knowledgeable brokers.
Cathy Benson 970.209.5015
Channing Boucher
Corey Dwan
Gary Huresky 970.209.2421
970.275.2554
Jaima Giles
Karen Redden
Megan Clark
Larry Neilson
Sam Lumb
970.275.2448
970.596.3228
970.275.9357
Katy Mattson 970.275.4601
Follow Us
970.596.3219
970.209.5943
Jill Matlock
970.275.0595
Jamie Watt
970.209.3537
970.209.2675
Kiley Flint
970.209.7849
Dustin Kujawski 970.349.6653
BensonSothebysRealty.com