crested butte real estate report - q3 2015

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 REPORTThird Quarter - 2015

3 Overall Market Update 8 Land Market

4 Single Family Market 10 Significant Sales

6 Area Map 11 Our Office Update

7 Condo and Townhome Market 12 Contact Us

Contents

2 | 401 Elk Avenue // 970.349.6653 QUARTER REPORTTHIRD-QUARTER 2015

Quick Hits

$124.4Total Sales Volume Through Q3- 2015 Upper Valley

280Total Transactions Through Q3- 2015 Upper Valley

14.6%Percentage Up Through Q3- 2015 Upper Valley

Million

The overall real estate market has continued strong growth throughout 2015 while being up almost 15% over 2014 for the upper valley. The main reason for the overall growth is that single family homes just outside of the Town of Crested Butte and south all the way into the City of Gunnison have all seen large sales volume growth in between 43% to 173%. Also all segments of vacant land and lots have seen huge growth from 2014. The segments that have leveled off or even dipped are single family homes, condos and town-homes in both the towns of Crested Butte and Mt. Crested Butte.

The fourth quarter of 2015 looks to level off quite a bit compared to the high sales volume numbers that happened during late summer and early fall. We forecast that our local real estate market will end up with a growth between 5 and 10 percent.

January through September 2014 2015 % ChangeAverage Price $450,350 $433,261 -3.8%

Average Price per Square Foot n/a n/a n/a

Average Days on Market 296 306 3.4%Highest Price $3,275,000 $4,000,000 22.1%Lowest Price $13,000 $4,700 -63.8%Number of Properties Sold 241 279 15.8%% Sold Price to List Price 89.4% 92.8% 3.8%Total Dollar Volume Sold $108,534,525 $124,409,961 14.6%

All PropertiesUPPER VALLEY (Crested Butte, Mt. Crested Butte, Rural Crested Butte, CB South and Almont)

ResoRt RepoRt - Mid-YeaR 2015

BensonSothebysRealty.com | 3QUARTER REPORTTHIRD-QUARTER 2015

oveRall MaRket update

Explore the Resort Report

The Resort Report is a real estate market comparison of western ski resorts.

Visit our website or pick up a copy at our office at 401 Elk Avenue to see why Crested Butte is

great value compared to other ski resorts.

BensonSothebysRealty.com/Resort-Reports

4 | 401 Elk Avenue // 970.349.6653

January through September 2014 2015 % ChangeAverage Price $1,023,459 $830,175 -18.9%

Average Price per Square Foot $446.79 $436.13 -2.4%

Average Days on Market 234 302 29.1%Highest Price $2,240,000 $1,925,000 -14.1%Lowest Price $465,000 $290,000 -37.6%Number of Properties Sold 21 20 -4.8%% Sold Price to List Price 94.8% 94.7% -0.1%Total Dollar Volume Sold $21,492,650 $16,603,500 -22.7%

Single Family HomesCrested Butte

January through September 2014 2015 % ChangeAverage Price $711,477 $873,687 22.8%

Average Price per Square Foot $260.51 $342.61 31.5%

Average Days on Market 293 330 12.6%Highest Price $1,375,000 $3,000,000 118.2%Lowest Price $258,000 $315,000 22.1%Number of Properties Sold 20 16 -20.0%% Sold Price to List Price 91.4% 93.9% 2.7%Total Dollar Volume Sold $14,229,550 $13,979,000 -1.8%

Single Family HomesMt. Crested Butte

January through September 2014 2015 % ChangeAverage Price $1,087,416 $1,303,125 19.8%


Average Days on Market 263 287 9.1%Highest Price $3,275,000 $4,000,000 22.1%Lowest Price $240,000 $375,000 56.3%Number of Properties Sold 18 28 55.6%% Sold Price to List Price 81.9% 91.6% 11.8%Total Dollar Volume Sold $19,573,500 $36,487,500 86.4%

Single Family HomesRural Crested Butte

single FaMilY MaRket

QUARTER REPORTTHIRD-QUARTER 2015

BensonSothebysRealty.com | 5

single FaMilY MaRket



Average Days on Market 223 232 4.0%Highest Price $571,000 $644,000 12.8%Lowest Price $273,300 $294,000 7.6%Number of Properties Sold 11 17 54.5%% Sold Price to List Price 96.2% 96.0% -0.2%Total Dollar Volume Sold $4,665,800 $8,172,000 75.1%

Single Family HomesCB South



Average Days on Market 295 226 -23.4%Highest Price $850,000 $2,500,000 194.1%Lowest Price $17,500 $30,200 72.6%Number of Properties Sold 48 57 18.8%% Sold Price to List Price 94.5% 95.7% 1.3%Total Dollar Volume Sold $15,214,209 $21,754,920 43.0%

Single Family HomesRural Gunnison, Almont and Surrounding Areas



Average Days on Market 241 238 -1.2%Highest Price $384,000 $425,000 10.7%Lowest Price $135,000 $90,000 -33.3%Number of Properties Sold 20 51 155.0%% Sold Price to List Price 96.2% 96.8% 0.6%Total Dollar Volume Sold $4,488,350 $12,270,925 173.4%

Single Family HomesCity of Gunnison


Legend1 Crested Butte

5

4

3

2 Mt. Crested Butte

Skyland - Golf

CB South

Gunnison

6 Almont

6

oveRview Map

6 | 401 Elk Avenue // 970.349.6653 QUARTER REPORTTHIRD-QUARTER 2015


condo and townHoMe MaRket



Average Days on Market 275 172 -37.5%Highest Price $730,000 $740,000 1.4%Lowest Price $192,500 $164,000 -14.8%Number of Properties Sold 10 9 -10.0%% Sold Price to List Price 93.9% 97.2% 3.5%Total Dollar Volume Sold $4,263,750 $3,205,700 -24.8%

Condos and TownhomesCrested Butte



Average Days on Market 252 293 16.3%Highest Price $1,487,500 $1,075,000 -27.7%Lowest Price $55,000 $47,500 -13.6%Number of Properties Sold 88 62 -29.5%% Sold Price to List Price 92.9% 95.0% 2.3%Total Dollar Volume Sold $22,076,939 $15,897,700 -28.0%

Condos and TownhomesMt. Crested Butte




Condos and TownhomesRural CB, CB South, Almont, Rural Gunnison and City of Gunnison

8 | 401 Elk Avenue // 970.349.6653


Average Price per Acre $2,931,034.48 $2,506,349.21 -14.5%

Average Days on Market 329 383 16.4%Highest Price $550,000 $650,000* 18.2%Lowest Price $300,000 $90,000 -70.0%Number of Properties Sold 2 7 250.0%% Sold Price to List Price 97.1% 94.9% -2.3%Total Dollar Volume Sold $850,000 $3,158,000 271.5%

Residential LotsCrested Butte


Average Price per Acre $292,943.55 $250,138.41 -14.6%


Residential LotsMt. Crested Butte


Average Price per Acre $23,478.13 $36,455.59 55.3%

Average Days on Market 485 408 -15.9%Highest Price $360,000 $750,000 108.3%Lowest Price $94,000 $25,000 -73.4%Number of Properties Sold 11 29 163.6%% Sold Price to List Price 94.3% 86.9% -7.8%Total Dollar Volume Sold $2,302,500 $4,433,000 92.5%

All Lots and LandRural Crested Butte

land MaRket


*Buyer paid commissions and town transfer tax

BensonSothebysRealty.com | 9

land MaRket


Average Price per Acre $147,619.05 $165,561.42 12.2%

Average Days on Market 350 245 -30.0%Highest Price $185,000 $175,000 -5.4%Lowest Price $32,000 $30,000 -6.3%Number of Properties Sold 9 32 255.6%% Sold Price to List Price 94.9% 92.3% -2.7%Total Dollar Volume Sold $558,000 $2,197,000 293.7%

Residential LotsCB South



Average Days on Market 454 374 -17.6%Highest Price $1,750,000 $4,662,500 166.4%Lowest Price $21,000 $15,500 -26.2%Number of Properties Sold 25 24 -4.0%% Sold Price to List Price 75.6% 85.3% 12.8%Total Dollar Volume Sold $7,543,500 $14,506,000 92.3%

All Lots and LandRural Gunnison, Almont and Surrounding Areas

January through September 2014 2015 % ChangeAverage Price $496,821 $1,005,357 102.4%


Average Days on Market 534 675 26.4%Highest Price $1,750,000 $4,662,500 166.4%Lowest Price $49,000 $129,500 164.3%Number of Properties Sold 14 14 0.0%% Sold Price to List Price 76.6% 82.2% 7.3%Total Dollar Volume Sold $6,955,500 $14,075,000 102.4%

All Parcels (11 or More Acres) Gunnison County


Listed by Benson Sotheby’s International RealtySold by Benson Sotheby’s International Realty

signiFicant sales tHRougH tHiRd QuaRteR 2015

535 Journey’s end rd | overlooking C.B. sold for $4,000,000

25 Walking Deer lane | Mt. C.B. SolD for $3,000,000


Listed by Red Lady RealtySold by Coldwell Banker Bighorn Realty


Listed by Keller Williams RealtySold by Crested Butte Resort Real Estate

426 reD Mountain ranCh rD | rural C.B.SolD for $2,750,000

909 eagle Creek roaD | ohio Creek ValleySolD for $2,500,000

12 garlanD DriVe | rural C.B. SolD for $2,475,000

Listed by Benson Sotheby’s International Realty/Briggs Freeman SIRSold by Benson Sotheby’s International Realty

873 SkylanD DriVe | rural C.B. SolD for $3,530,000


10 | 401 Elk Avenue // 970.349.6653

BenSon SotheBy’S international realty StatS• We are the leading real estate brokerage in Crested Butte by $62 million in total

transaction volume compared to our closest competitor in 2015.

• Our office currently has a 37% market share of sales volume in 2015 in the Crested Butte area. A 7% increase from 2014.

• We have been involved in 173 sides of the total transactions, which is by far the most in the Crested Butte area.

• We sold $52 million worth of our listings in 2015. Our listings also sell for $200,000 more on average compared to our competitors.

• Our brokers have been very successful so far in 2015.

• The top 4 brokers in sales volume in Crested Butte are from our office.

• The top 3 selling brokers in Crested Butte are from our office, while 4 of the top 6 are from our office.

• The top 4 buyers’ brokers in Crested Butte 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.


If you would like more information about this Quarterly Market Report or would like to view properties in the Crested Butte and Gunnison area, please contact our brokers.

BensonSothebysRealty.com

contact us

Channing Boucher970.596.3228

Gary Huresky970.209.2421

Corey Dwan970.596.3219

Sam Lumb 970.275.2448

Jaima Giles 970.275.9357

Larry Neilson970.209.7849

Katy Mattson970.275.4601

Kiley Flint970.275.2554

Wayne Meredith 970.209.2706

MANAGEMENT AND STAFF

Cathy Benson970.209.5015

Broker/Owner

Dustin Kujawski970.275.0262

Manager/Marketing

Dawn Schnell970.349.6653

Office Assistant

OUR BROKERS

Megan Clark970.209.3537

Jamie Watt970.209.2675

Jill Matlock970.275.0595

Di Bridges970.901.0888

crested butte real estate report - q3 2015

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