Red Lady Realty - Crested Butte, CO

Market Statistics

*For a description of the data provided in each section of the market update, please scroll down to the "Go-To-Guide"
 

First Quarter 2018 Market Report

 


 


*To view the market report in full screen, click the square either in the center of the above box or in the lower right hand corner.
 


Here is the First Quarter 2018 Market recap from Red Lady Realty Broker, Diane Aronovic:

"The real estate market in Crested Butte continues to exhibit strength overall, currently trending at 21.5% year over year in overall sales. There is still an overwhelming lack of supply of listings, and the entry level price point continues to be the strongest area of the market. Mt. Crested Butte condos have an average sales price of $449,412, compared to last year’s $327,315—a 37% gain. The average number of days on market is shrinking, from 276 to 264, and we are seeing properties sell at an average of 96% of list price, which is quite strong. Since this sector contains the market’s greatest demand, I think this trend will continue with condos priced at $350,000 or less selling quickly.

The town of Crested Butte is a bit of an anomaly, though the small number of sales skews the average. The average price of single family homes has risen from $1,582,250 to $1,770,000, but due to an overweight in in the condo/townhome sector, the average price has fallen from $1,194,833 to $929,748. I think we will see this statistic change over the year into a higher average number. The average days on market in town has fallen from 289 to 230, showing strength.

A potential reason for the slow sales in the town of Crested Butte is uncertainty over whether any short term rental licenses would be available. That had some people holding off on purchasing to see what the end result would be. As of this printing, there seems to be a scant number of licenses still available, but that can and will change as time goes on.

Overall, we are looking for the strength in the real estate market to continue, especially as we go into our busy summer and fall selling seasons."
 

 


 
 

 
Market Update through 3/31/18

 

Monthly Market Update






Total Dollar Volume of Sales YTD

Total Dollar Valume Sales YTD vs Total

 

Market Update through 2/28/18

 






Total Dollar Volume of Sales YTD



 
 


Here is your Go-To-Guide to understanding our Monthly Market Update Snapshot


 


The list below corresponds to sections on the nearby image of the Market Update for August.
 
  1. This section shows you the average sold price per square foot for comparison between different areas and types of residential properties. The number in parenthesis is the year to date(YTD*) number of transactions for those types/areas.
  2. This pie chart provides a visual representation of the market share for the total number of transactions YTD.
  3. The first box in the lower left shows the total number of sales YTD in the Upper Valley**.
  4. This box provides you the total dollar volume of sales YTD in the Upper Valley.
  5. The lower right box shows the percentage of list price that properties ultimately sold for in the Upper Valley.
  6. The right hand pie chart shows you the market share split for the total dollar volume sold YTD.
  7. The interesting fact piece lists the residential properties that sold for the highest and lowest prices in the previous month.
  8. This section provides a snapshot of the current market inventory in regards to active and pending listings in the Upper Valley.
 
**Upper Valley includes: Almont, Crested Butte South, Rural Crested Butte, Crested Butte, Mt. Crested Butte, Rural Mt. Crested Butte, and Kebler.
*YTD= January 1 – Last day of Previous Month
(ex: For August 2016 Market Update: YTD = Jan 1 - July 31)