B E N S O N S OT H E B Y ’S I N T E R N AT I O N A L R E A LT Y
QUARTER REPORT Year-End 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
Quick Hits
$170.3
Total Sales Volume For 2015 in the Upper Valley
377
Total Transactions For 2015 in the Upper Valley
Million
9.0% 2 | 401 Elk Avenue // 970.349.6653
Percentage Up For 2015 in the Upper Valley QUARTER REPORT YEAR-END 2015
Overall Market Update In 2015, the real estate markets in Crested Butte and Gunnison grew more than was predicted. The Crested Butte area market grew by a strong 9% compared to 2014 while the Gunnison area market grew by a staggering 93% compared to 2014. Not only was sales volume up in both markets but also average price and the number of properties sold increased as well. The market segments that did exceptionally well in sales volume increases were Single Family Homes in Mt. Crested Butte (47%), Single Family Homes in Rural Crested Butte (65%), Single Family Homes in Almont and Rural Gunnison (65%) and Single Family Homes in Gunnison (172%). Also all land markets did well with sales volume increasing in all segments. CB South grew by an astonishing 183%. As we enter into 2016 we expect to continue to see healthy growth in our real estate markets in our area. Growth in tourism throughout both the winter and summer months and more people telecommuting, will in turn create more of a demand for properties in our area. So far we are off to a strong start in 2016 with currently over $40 million in properties under contract as of January 7th. All Properties UPPER VALLEY (Crested Butte, Mt. Crested Butte, Rural Crested Butte, CB South and Almont)
Average Price Average Price per Square Foot Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold
QUARTER REPORT YEAR-END 2015
2014
2015
% Change
$450,200 n/a 308 $3,900,000 $10,000 347 90.2% $156,219,575
$451,788 n/a 331 $4,000,000 $4,700 377 92.8% $170,324,359
0.4% n/a 7.5% 2.6% -53.0% 8.6% 2.9% 9.0%
BensonSothebysRealty.com | 3
Single Family Market Single Family Homes Crested Butte
January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold
2014
2015
% Change
$1,028,630 $448.14 253 $2,240,000 $465,000 29 94.5% $29,830,295
$803,403 $450.27 271 $1,925,000 $290,000 26 94.3% $20,888,500
-21.9% 0.5% 7.1% -14.1% -37.6% -10.3% -0.2% -30.0%
Single Family Homes Mt. Crested Butte
January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold
2014
2015
% Change
$683,890 $260.77 330 $1,375,000 $258,000 25 91.8% $17,097,270
$968,403 $337.15 364 $3,937,500 $310,000 26 92.2% $25,178,500
41.6% 29.3% 10.3% 186.4% 20.2% 4.0% 0.4% 47.3%
Single Family Homes Rural Crested Butte
January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold
4 | 401 Elk Avenue // 970.349.6653
2014
2015
% Change
$1,172,978 $334.41 276 $3,900,000 $240,000 23 85.7% $26,978,500
$1,239,611 $350.78 296 $4,000,000 $375,000 36 92.0% $44,626,000
5.7% 4.9% 7.2% 2.6% 56.3% 56.5% 7.4% 65.4%
QUARTER REPORT YEAR-END 2015
Single Family Market Single Family Homes CB South
January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold
2014
2015
% Change
$396,909 $180.62 222 $571,000 $204,750 16 94.5% $6,350,550
$484,972 $221.77 223 $644,000 $294,000 18 96.3% $8,729,500
22.2% 22.8% 0.5% 12.8% 43.6% 12.5% 1.9% 37.5%
Single Family Homes Rural Gunnison, Almont and Surrounding Areas
January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold
2014
2015
% Change
$315,319 $165.17 283 $1,025,000 $17,500 64 94.5% $20,180,459
$423,315 $186.18 270 $5,000,000 $30,200 79 96.1% $33,441,920
34.2% 12.7% -4.6% 387.8% 72.6% 23.4% 1.7% 65.7%
Single Family Homes City of Gunnison
January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold
QUARTER REPORT YEAR-END 2015
2014
2015
% Change
$215,883 $141.68 218 $384,000 $92,000 28 95.7% $6,044,750
$241,641 $149.54 219 $425,000 $90,000 68 96.7% $16,431,625
11.9% 5.5% 0.5% 10.7% -2.2% 142.9% 1.0% 171.8%
BensonSothebysRealty.com | 5
6
Overview Map 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
QUARTER REPORT YEAR-END 2015
Condo and Townhome Market Condos and Townhomes Crested Butte
January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold
2014
2015
% Change
$426,250 $330.83 275 $730,000 $192,500 11 93.5% $4,688,750
$374,975 $312.67 184 $740,000 $164,000 12 97.2% $4,499,700
-12.0% -5.5% -33.1% 1.4% -14.8% 9.1% 4.0% -4.0%
Condos and Townhomes Mt. Crested Butte
January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold
2014
2015
% Change
$253,451 $221.67 261 $1,795,000 $44,900 131 93.5% $33,202,139
$263,892 $229.51 293 $1,075,000 $42,500 84 95.0% $22,166,948
4.1% 3.5% 12.3% -40.1% -5.3% -35.9% 1.6% -33.2%
Condos and Townhomes Rural CB, CB South, Almont, Rural Gunnison and City of Gunnison
January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold
QUARTER REPORT YEAR-END 2015
2014
2015
% Change
$234,422 $165.43 218 $880,000 $35,000 50 95.0% $11,721,136
$199,722 $170.44 208 $772,661 $33,000 67 95.6% $13,381,436
-14.8% 3.0% -4.6% -12.2% -5.7% 34.0% 0.6% 14.2%
BensonSothebysRealty.com | 7
Land Market Residential Lots Crested Butte
January through December Average Price Average Price per Acre Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold
2014
2015
% Change
$466,435 $3,109,566.67 316 $583,675 $300,000 5 92.3% $2,332,175
$510,025 $3,054,041.92 375 $837,250 $90,000 10 93.3% $5,100,250
9.3% -1.8% 18.7% 43.4% -70.0% 100.0% 1.1% 118.7%
Residential Lots Mt. Crested Butte
January through December Average Price Average Price per Acre Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold
2014
2015
% Change
$271,590 $339,815.21 687 $825,000 $61,000 13 70.6% $3,530,680
$303,535 $256,612.32 783 $800,000 $36,000 14 84.2% $4,249,500
11.8% -24.5% 14.0% -3.0% -41.0% 7.7% 19.3% 20.4%
All Lots and Land Rural Crested Butte
January through December Average Price Average Price per Acre Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold
8 | 401 Elk Avenue // 970.349.6653
2014
2015
% Change
$210,825 $28,308.16 390 $410,000 $10,000 20 85.7% $4,216,500
$203,113 $30,076.73 407 $815,000 $25,000 44 90.1% $8,937,000
-3.7% 6.2% 4.4% 98.8% 150.0% 120.0% 5.1% 112.0%
QUARTER REPORT YEAR-END 2015
Land Market Residential Lots CB South
January through December Average Price Average Price per Acre Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold
2014
2015
% Change
$61,884 $150,152.51 320 $185,000 $32,000 14 93.0% $866,380
$68,277 $166,870.33 238 $175,000 $30,000 36 92.6% $2,458,000
10.3% 11.1% -25.6% -5.4% -6.3% 157.1% -0.4% 183.7%
All Lots and Land Rural Gunnison, Almont and Surrounding Areas
January through December Average Price Average Price per Acre Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold
2014
2015
% Change
$356,191 $12,616.14 422 $1,750,000 $20,000 33 80.3% $11,754,334
$444,953 $10,238.03 507 $4,662,500 $6,000 35 85.8% $15,573,370
24.9% -18.8% 20.1% 166.4% -70.0% 6.1% 6.8% 32.5%
All Parcels (11 or More Acres) Gunnison County
January through December Average Price Average Price per Acre Average Days on Market Highest Price Lowest Price Number of Properties Sold % Sold Price to List Price Total Dollar Volume Sold
QUARTER REPORT YEAR-END 2015
2014
2015
% Change
$548,373 $11,384.80 461 $1,750,000 $49,000 21 81.4% $11,515,834
$817,000 $9,414.56 709 $4,662,500 $10,000 20 83.5% $16,340,000
49.0% -17.3% 53.8% 166.4% -79.6% -4.8% 2.6% 41.9%
BensonSothebysRealty.com | 9
Significant Sales for 2015
535 Journey’s End Rd | Overlooking C.B.
19 Kokanee Drive | Mt. C.B.
Listed by Benson Sotheby’s International Realty Sold by Benson Sotheby’s International Realty
Listed by Benson Sotheby’s International Realty Sold by Benson Sotheby’s International Realty
873 Skyland Drive | Rural C.B.
25 Walking Deer Lane | Mt. C.B.
Listed by Benson Sotheby’s International Realty/Briggs Freeman SIR Sold by Benson Sotheby’s International Realty
Listed by Keller Williams Realty Sold by Crested Butte Resort Real Estate
426 Red Mountain Ranch Rd | Rural C.B.
909 Eagle Creek Road | Ohio Creek Valley
Sold for $4,000,000
Sold for $3,530,000
Sold for $2,750,000
Listed by Benson Sotheby’s International Realty Sold by Benson Sotheby’s International Realty
10 | 401 Elk Avenue // 970.349.6653
Sold for $3,937,500
Sold for $3,000,000
Sold for $2,500,000 Listed by Benson Sotheby’s International Realty Sold by Benson Sotheby’s International Realty
QUARTER REPORT YEAR-END 2015
Benson Sotheby’s International Realty Stats • We lead the real estate brokerage community in Crested Butte by $72 million in total transaction volume in comparison 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 207 transaction sides of the 754 total. • We sold over $67 million worth of our listings in 2015. Our listings also sell for $204,000 more on average compared to our competitors. • Our brokers were very successful in 2015. • The top 3 brokers in sales volume in Crested Butte are from our office and 6 of the top 8 are from our office. • The top 5 selling brokers in Crested Butte are from our office. • The top 3 buyers’ brokers in Crested Butte are from our office and 5 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.
QUARTER REPORT YEAR-END 2015
BensonSothebysRealty.com | 11
If you would like more information about this Quarter Report, would like detailed market data concerning your property or would like to view any property in the Crested Butte and Gunnison area, please contact one of our knowledgeable and experienced brokers.
MANAGEMENT AND STAFF
Cathy Benson 970.209.5015 Broker/Owner
Dustin Kujawski 970.275.0262 Manager/Marketing
OUR BROKERS
Channing Boucher 970.596.3228
Corey Dwan 970.596.3219
Gary Huresky 970.209.2421
Sam Lumb 970.275.2448
Jaima Giles 970.275.9357
Kiley Flint 970.275.2554
Wayne Meredith 970.209.2706
Larry Neilson 970.209.7849
Katy Mattson 970.275.4601
Di Bridges 970.901.0888
Megan Clark 970.209.3537
Jill Matlock 970.275.0595
Jamie Watt 970.209.2675
Bud Bush 214.803.3300
Diane Dunaway 970.596.1373
BensonSothebysRealty.com