Hello! Now you can see our homes publation even if you aren’t in Crested Butte to pick one up. There is lots of good information here. Look through it and let me know if you have any questions. I’m happy to get you more information.
Here is our market report for the 2nd quarter of 2017. Please let me know if you have any questions or if I can get you more information.
2017 started off strong for real estate sales in the Crested Butte area. Our quarterly report really goes into the details in an easy to read way. We continue to shift from a buyer’s market to a seller’s market and there is always some adjustment needed during this time. Buyer’s are still relying on past sales to determine current values and Seller’s are seeing the market improve so they are holding firm to their asking price. It is more important than ever to have someone to help guide your decisions in order to buy the perfect property at the right price or to sell your property quickly and for the most money.
I have been getting a lot of questions of property owners about whether I think they should sell “right now” because prices and demand is up and there are not as many properties on the market. I think there is some fear that the market is going to start going down and they don’t want to miss out. Nothing that I have read or seen indicates that we should prepare for a market crash or downturn. I do not have a crystal ball, but it seems that will continue to see high demand and modest price improvements for the foreseeable future. My advice has been to consider selling if you have something else to do with your profit or if the property is not paying for itself or the payments are a burden. Depending on when you bought your property, you have the opportunity to make a profit, but I think that profit could get bigger in the next year or two.
If you are looking to buy, it is important to act quickly when you see something you like. We have seen the demand for more affordable properties really increase and multiple offers within days of coming on the market is not unheard of. You should be prepared to pay close to the asking price since our average sale is at 95% of asking, but there are some that 100% or more.
Please check out our publication for more details and let me know if you have any questions or if I can get you more information.
2016 was the fifth year in a row of growth for the Crested Butte Real Estate Market. The publication below will give you all of the details! Don’t hesitate to contact me with any questions or for more information about a specific area or property.
Our 2016-2017 Crested Butte Real Estate Guide magazine has been published and is full of great information. You can pick up a paper copy at various spots around town or click here to read it online.
This magazine has information about the community, the agents at Red Lady Realty and all of the properties Red Lady Realty had listed for sale when it was published at the beginning of the summer.
ON ICE – Crested Butte, Colorado
February 19 – 21, 2016
In the middle of winter 2016, Aston Martin will create a spectacular driving experience at an exclusive ranch in the very heart of Colorado. On Ice Colorado is a truly unique opportunity open to anyone with a passion for driving, regardless of previous experience.
Hone your driving skills on our private ice-driving track where under the expert guidance of our professional instructors you will take away a unique new skill and an enhanced understanding of the Aston Martin range.
After your driving experience you can relax in the company of like-minded, passionate drivers accompanied by superb hospitality and gastronomic delights.
Set against the stunning backdrop of the Rocky Mountains, On Ice Colorado offers you the opportunity to experience Aston Martin like never before.
Register your interest using the form below and we will keep you up to date with all the latest information on this extraordinary event.
To register your interest in this event please complete our online form or contact our booking hotline.
Booking hotline: +1 858 300 1179
Contact: Aston Martin Concierge
Telephone: +1 858 300 1179
Crested Butte Area Market Information (from Almont to the North)
Month’s Highest Sale
25 Walking Deer Lane, 5 bedroom, 5 ½ bath, 4582 square foot home in Prospect, .7 acres, $3,000,000
Month’s Lowest Sale
40 Cinnamon Mountain Road, .47 acre lot in Mt. Crested Butte, $36,000
# of Properties put Under Contract In September:
Single Family Homes 10
2015 YTD Closed Transactions (September):
Total # of Sales: 280
Total Volume: $120,954,961
Sales Price to List Price: 93%
Average Days on the Market: 308
2014 YTD Closed Transactions (September):
Total # of Sales: 241
Total Volume: $108,534,525
Sales Price to List Price: 89%
Average Days on the Market: 296
Active Listings: 657
Pending Contracts: 83
YTD Avg. Sold Price/ Sq. Ft. (# of sales) 2015 2014
Crested Butte Homes $429 (22) $447 (21)
Crested Butte Condos $300 (9) $312 (11)
Mt. Crested Butte Homes $343 (16) $261 (20)
Mt. Crested Butte Condos $231 (62) $227 (89)
CB South Homes $224 (17) $190 (12)
CB South Condos $187 (17) $146 (5)
2015 Real Estate Sales exceed 2014 year to date
2015 has been an interesting year in Crested Butte. We had a less than awesome amount of snow this ski season and a lot of rain this spring and summer, but our usually weather dependent visitors did not seem to mind. The ski season was busy and there were record breaking crowds here this summer.
Real estate sales have matched the visitor numbers and the statistics give you an idea of just how busy the market has been. Through August, from Almont to the north, we have had 233 closed transactions in 2015 vs. 188 during the same time last year. That adds up to almost $15 million more dollar volume ($97.1 million vs. $82.8 million). The number of properties listed for sale continues to decline steadily. That number is down about 5% from last year and almost 37% down from the peak in 2009! There were 1200 properties for sale in September 2009 vs. 765 today.
Even though we are a smaller market, we still have micro-markets that react differently from the overall market. For example, CB South has seen a larger number of properties sell and for higher average prices per square foot whereas Mt. Crested Butte is down over last year – especially condos. The general trend is a slow and steady rise, but let me know if you have a specific area or type of property you want information about. We are not a cookie-cutter area so it is challenging to determine value by simply looking at overall trends.
Red Lady Realty
As many of you know, I purchased Red Lady Realty at the beginning of this year. I have a lot of ideas and things I want to do to improve the company, but have spent much of this year focusing on small things. I have made some changes to our marketing including a new logo and that will continue to evolve. While I feel I can make the company better and strive to have it be a great place for the brokers who work with me, my focus is on you, the customer. Experiences in buying and selling real estate range from awesome to awful and I hope that all of the Red Lady Realty brokers provide their customers with a wonderful experience from start to finish.
Excellent service, communication, attention to detail and a focus on your needs have always been a central part of my business and will continue to be. I intend to continue to list properties for sale and to work with buyers to find the right place for them in the Crested Butte area. I am confident that I can provide you with great service while helping the other brokers at Red Lady to do the same.
Gunnison Crested Butte Air Alliance
I have always been involved in helping to improve the economy of the Gunnison Valley through tourism. I was a board member and vice president of the Gunnison-Crested Butte Tourism Association from 2007 – 2010. After hearing what other resort towns do to support their air service, I felt there was a need for an organization where businesses and individuals could be involved in this area. To this end, I worked with the primary stakeholders to create the Gunnison Crested Butte Air Alliance. If you would like to learn more about what we are doing please click here. In addition to helping support the air service into GUC, your donation also gives you some great benefits through CBMR, Western State Colorado University and the Nordic Center. Please let me know if you have any questions or if you want to be more involved.
What’s happening in CB?
September is a great time to be in Crested Butte. The summer event calendar is packed with things everyday and that is not the case in September, but there are still fun things to do and reasons to come visit. The leaves are just starting to changes and usually they peak around Vinotok, but feel free to reach out to me for an update if you can make an impromptu trip and want to see the best colors.
Sundays through October 4 – Crested Butte Farmer’s Market (lots of delicious fruits and vegetables are being harvested!)
September 12 – Chili & Beer Festival – sample locally made chili, taste Colorado beers and listen to great music at the base of the ski area.
September 13 – 19 – Vinotok – this fall festival includes celebrating the harvest, story telling and, of course, the burning of the Grump (a la Burning Man & Zozobra)
September 24 – 27 – Crested Butte Film Festival – parties, talks and, of course, films at venues throughout town. This is one of the fasting growing events in town.
Of course, you might just want to come be in Crested Butte and don’t need an event to make that happen. September and October are great because there are less people, but all of the restaurants and stores are still open as are the trails. The days are warm with cold, crisp nights and mornings.
Last year at this time the street was painted blue and 1,000 winners were here celebrating Whatever USA! – what a difference a year makes! This year it is Labor Day weekend and we are bustling with the People’s Fair and sidewalk sales happening on Elk Avenue. The West Elk Classic road biking race from Gunnison to Crested Butte (the long way – 135 miles!) and the Summer Grand Traverse run & bike race are happening for those more inclined to extreme exercise. The sun is shining in between some rain showers and smiles are showing up on every face.
El Nino is happening in the Pacific and there are varying predictions as to what that will mean for our ski season. It could be a “Godzilla” El Nino which would bring big snow to us, but you never know. Our thoughts are turning towards winter and hoping for a lot of snow!
Please don’t hesitate to contact me if I can be of assistance. Enjoy your fall!
It has been a wet summer in Crested Butte so we haven’t had to fear wildfire like so many in the west. In the last week there has been a haze over the mountains because smoke from the fires in Washington is blowing here and this has reminded us not to get complacent. Colorado has had its share of fires over the last few years and it is important for property owners to be prepared.
I am a member of the Colorado Association of Realtors Project Wildfire Committee and we are working to educate the public about what they can do to protect their property. Our local association recently mailed 2,500 flyers to property owners who live in the forest and would be most likely to be affected by fire. This mailing is attached here. Please let me know if you have any questions. I am happy to help guide you in the right direction for resources.
2015 Sales Up, Land Sales Really Up, Prices Slightly Up, Inventory Down
The headline sums up the year in Crested Butte real estate so far. Here are the numbers from the MLS for areas from Almont north to back it up.
2014 – 122 Sales for $49,477,575
2015 – 157 Sales for $65,116,861
2014 – 22 Sales for $4,097,000
2015 – 57 Sales for $11,196,700
Average Sales Price:
2014 – $405,553
2015 – $414,757
Average Days on the Market:
2014 – 328
2015 – 316
Active Listings Overall:
2014 – 813
2015 – 727
Active Residential Listings:
2014 – 446
2015 – 354
What does this mean for you? If you have been thinking of selling, now is a great time to test the market by listing your property. I would be happy to give you a free market analysis to see if it makes sense for you to sell right now. If you have been thinking of buying, it can be harder to find properties that fit what you are looking for in terms of type, location, finishes and price. I can help keep you updated when something comes along that might work.
While prices haven’t gone up too much overall, there are segments where prices have changed because of a lack of inventory. There is also a perception that the market is “going crazy” so sellers may be less willing to negotiate their price. It can be challenging to determine value in an improving market because it can be tough to know how quickly things will improve in the future. Again, I can help!
Save the Date – Red Lady Realty Client Appreciation Party
Our 2nd Annual Client Appreciation Party will be Thursday July 23rd from 4:00 – 7:00. I will be sending an email invitation soon, but please make sure it is on your calendar if you will be in town. Hope you can make it!
What’s happening in CB?
There are more events in Crested Butte in July then in any other month of the year. There are also more people here! A friend in property management told me that last summer was their busiest ever and that this summer is looking to exceed that by 15-20%. If you are planning a visit during July and August, plan early, make dinner reservations (crazy, I know!) and buy tickets for events you want to attend.
Crested Butte Music Festival: June 28 – August 9
In its 17th year, enjoy music from all over the world at the Crested Butte Music Festival featuring a bluegrass festival, Djangofest, and a free family concert series on Saturdays!
Alpenglow Free Concert Series: Mondays through August 17
Have a blast at the Alpenglow free outdoor concert series on Monday evenings during the summer at the Center for the Arts. Bring a chair and relax as you listen to great live music.
Live from Mt. CB! Summer Concert Series: Wednesdays through August 19
Soak in the beauty of Mt. Crested Butte while listening to amazing musicians on Wednesday evenings at the base of Mt. Crested Butte for free!
Pinnacle Mountain Bike Series: Wednesdays, July 1 – 29
Take part in the FREE recreational mountain bike race series geared for both fun and competition. Races take place on Wednesday evenings in July (1, 8, 15, 22, and 29) at 5:45 PM with a wide variety of competition categories from beginner to expert.
Cattlemen’s Days: July 3 – 12
Experience the “Granddaddy of Colorado Rodeos” as competitors from all over the country compete in this exciting Rodeo!
Fourth of July in Crested Butte/Mt. Crested Butte: July 4
Start with a pancake breakfast to support our volunteer fire & EMS or with a 1/3 Marathon from Gothic to Crested Butte. Then enjoy the parade and downtown activities during the day and then watch fireworks light up the sky and listen to amazing live music in the base are of Mt. Crested Butte that evening.
Crested Butte Wildflower Festival: July 13 – 19
Bring your camera and capture the fun of the colorful Wildflower Festival. Throughout the week there will be an array of activities that pleases everyone such as hikes, art classes, botany & medicinal lectures, photography classes and much more!
Crested Butte Food & Wine Festival: July 23 – 26
The Crested Butte Wine & Food Festival brings a fine wine and food experience to our charming mountain town. There are opportunities for all budgets and palates.
Crested Butte Arts Festival: July 31 – August 2
Crested Butte is home to one of the nation’s top arts festivals. Now in its 43rd year, the Crested Butte Arts Festival features incredible art, fantastic cuisine, exhilarating entertainment, artist demonstrations, children’s activities and an art auction. Plus, the Annual Rotary Duckie Race down Coal Creek is always fun!
It has been just over 6 months since I took over ownership of Red Lady Realty. I have learned a lot, made some changes and am excited about the future. I continue to list property for sale and to work with buyers so you can be sure that my service hasn’t changed.
Please let me know how I can assist you. If anyone you know needs help with real estate in Crested Butte, please know that I am never too busy to get to know new people and am happy to help. Recommending that your friends & family work with me is a wonderful compliment and I appreciate it.
I hope to see you this summer!