Crested Butte Sothebys 2013 Year End Report

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

BensonSothebysRealty.com | 3

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