CRESTED BUTTE & GUNNISON
Quarterly Report
Year End Data for 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 in 2013 in Gunnison County
Million
Million
Quick Hits $146.0 $180.9 342 502 139% 131%
Total Sales Volume in 2013 in the Upper Valley
Total Transactions in 2013 in Gunnison County
Total Transactions in 2013 in the Upper Valley
Percentage over last year in Gunnison County
Percentage over last year in the Upper Valley
2 | 401 Elk Avenue | 970.349.6653
Real Estate Market Update The overall real estate market has improved greatly in 2013 as compared to 2012. In the upper valley in 2013 there were over $146 million worth of transactions, an increase of over $31 million in sales volume from the previous year. There were also 65 more properties sold in the upper valley. This market report shows all areas 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 selling within 10% or less of list price and a decrease in days on market. Vacant Land and Lot transactions are still all over the place with most areas holding steady on average and median prices and sales volume. With a decrease in inventory of homes and condos we might start seeing an increase in land and lot sales in 2014. Overall 2013 was a very strong year throughout Gunnison County with increases in sales volume, price and numbers of properties sold and a decrease in days on market.
Upper Valley Transactions
2012
2013
Median Price
$264,500
$270,000
Average Price
$379,796
$426,912
390
322
$4,000,000
$4,250,000
$7,800
$4,000
277
342
88.4%
92.4%
$105,203,530
$146,004,173
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
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Single Family Market Info 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
2012
2013
$525,000 $633,140 335 $1,900,000 $95,000 25 93.6% $15,828,513
$775,000 $912,836 366 $2,100,000 $210,000 26 95.4% $23,733,755
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
2012
2013
$650,000 $875,313 358 $4,000,000 $310,000 19 90.2% $16,630,950
$850,000 $1,034,055 323 $4,250,000 $200,000 22 91.8% $22,749,230
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
2012
2013
$715,000 $802,568 342 $2,475,000 $279,500 24 87.5% $19,261,650
$617,000 $819,300 330 $3,700,000 $155,000 45 91.5% $36,868,500
Single Family Market Info 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
2012
2013
$379,500 $360,353 203 $648,500 $200,000 15 96.3% $5,405,300
$376,500 $396,870 203 $589,000 $245,500 20 95.6% $7,937,400
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
2012
2013
$220,500 $238,370 381 $775,000 $20,500 70 90.0% $16,685,944
$213,213 $277,756 247 $1,675,000 $72,000 61 93.5% $16,943,123
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
2012
2013
$171,500 $179,552 189 $260,000 $60,000 25 95.2% $4,488,800
$232,500 $241,525 237 $450,000 $110,000 35 96.3% $8,453,400
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 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
$248,000 $303,500 296 $650,000 $150,000 9 92.4% $2,731,500
$295,000 $271,071 161 $430,000 $62,281 11 94.2% $2,981,789
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
2012
2013
$175,000 $254,062 345 $1,200,000 $50,000 77 89.6% $19,562,800
$192,500 $260,468 334 $932,500 $43,000 94 92.6% $24,484,031
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
2012
2013
$169,950 $221,276 367 $755,000 $39,000 46 92.7% $10,178,705
$180,250 $223,567 243 $750,000 $49,900 64 91.0% $14,308,332
BensonSothebysRealty.com | 7
Land Market Info 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
2012
2013
$350,000 $371,571 288 $580,000 $250,000 7 91.3% $2,601,000
$571,500 $631,642 305 $1,250,000 $85,000 7 92.0% $4,421,500
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
2012
2013
$195,000 $224,176 658 $625,000 $32,000 21 67.1% $4,707,700
$157,500 $157,357 385 $325,000 $30,000 14 90.8% $2,203,000
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
2012
2013
$132,500 $188,972 483 $775,000 $27,500 18 81.3% $3,401,500
$121,293 $197,634 428 $1,150,000 $13,600 34 86.7% $6,719,586
Land Market Info 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
2012
2013
$40,000 $43,807 955 $88,000 $25,000 13 76.0% $569,500
$42,000 $41,825 601 $63,750 $20,000 10 87.3% $418,250
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
2012
2013
$70,000 $225,141 638 $3,000,000 $5,000 41 81.2% $9,230,800
$74,500 $118,139 426 $1,169,750 $8,500 31 88.0% $3,662,324
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
2012
2013
$150,000 $471,972 606 $3,000,000 $5,000 18 83.9% $8,495,500
$240,000 $336,701 276 $1,169,750 $35,000 19 86.1% $6,397,324
BensonSothebysRealty.com | 9
Significant Sales in 2013 722 Prospect Drive | Mt. Crested Butte
481 Reservoir Road | Rural C.B.
Listed and Sold by Keller Williams Realty
Listed and Sold by Keller Williams Realty
1294 Slate River Road | Rural C.B.
29 Summit Road | Mt. Crested Butte
Listed by Benson Sotheby’s International Realty Sold by Red Lady Realty
Listed and Sold by Coldwell Banker Bighorn Realty
420 Journeys End Rd. | Crested Butte
400 Butte Avenue | Crested Butte
Listed by Keller Williams Realty Sold by Crested Butte Resort Real Estate
Listed and Sold by Benson Sotheby’s International Realty
404 Butte Avenue | Crested Butte
73 Anthracite Dr. | Mt. Crested Butte
Listed by Red Lady Realty Sold by Benson Sotheby’s International Realty
Listed by Coldwell Banker Bighorn Realty Sold by Crested Butte Resort Real Estate
Sold for $4,250,000
Sold for $2,964,000
Sold for $2,100,000
Sold for $1,900,000
10 | 401 Elk Avenue | 970.349.6653
Sold for $3,700,000
Sold for $2,100,000
Sold for $1,945,000
Sold for $1,850,000
Benson Sotheby’s International Realty Update • We are the leading real estate brokerage in Crested Butte by over $15 million in total sales volume compared to our closest competitor. • Our office increased its total sales volume by over 51% in 2013 compared to 2102. • Our office had a 31% market share of sales volume in the Crested Butte area. • Our office has been involved in 201 sides of the total transactions, while our closest competitor has 114 sides. • Our office sold over $48.7 million worth of listings in 2013. • Our brokers have been very successful in 2013. • The top 4 brokers in Crested Butte were all from our office. • The top listing broker in Crested Butte was from our office. • The top selling broker in Crested Butte was from our office. • The broker with the most transactions in Crested Butte was 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 any of the figures in this 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
970.275.2448
Channing Boucher
Corey Dwan
Gary Huresky 970.209.2421
970.275.2554
Jaima Giles
Karen Redden
Megan Clark
Larry Neilson
970.596.3228
970.275.9357
Katy Mattson 970.275.4601
Follow Us
970.596.3219
970.209.5943
Jill Matlock
970.275.0595
970.209.3537
Jamie Watt
970.209.2675
Kiley Flint
970.209.7849
Dustin Kujawski 970.349.6653
BensonSothebysRealty.com