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Gary Huresky’s Crested Butte Real Estate Resource
Gary Huresky’s Crested Butte Real Estate Resource is a resourceful tool for anyone interested in buying or selling real estate in Crested Butte, Mt. Crested Butte or Gunnison.
Please Contact Gary Huresky, your knowledgeable Crested Butte Realtor, with any of your questions. Buyers can Browse Crested Butte and Gunnison featured properties or Search the Crested Butte and Gunnison MLS. Either way, you will find a diverse property selection.
We are excited to inform our base about all the change and uptick in the market. Our overall sales volume for the upper East River Valley has increased a staggering 47.3% year to date. We noted in a previous report about the influx of new people discovering Crested Butte, as well as Colorado yet these numbers are almost stupefying. The first quarter of the year was slightly down from 2016, thus this entire growth has happened during the second and third quarters of 2017.
Rural Crested Butte single family homes and lots are both up 127% compared to last year. Condos in Mt. Crested Butte sales volume numbers continue to grow over the last year and a half. This summer land has also started to rebound as the average price of residential properties continue to increase year over year.
As of the middle of October the overall sales volume more than $200 million for the upper valley and there are 76 pending contracts with a listing value of $48 million. We could end up at the quarter of a billion mark for the upper valley for the first time in our history.
At Crested Butte Sotheby’s International Realty, we continue to lead the real estate market and almost double our competition in number of transactions and sales volume.
Our local real estate market is up 27.1% in total sales volume compared to 2016, but 2017 did not start out strong. The first quarter of 2017 was actually down 1.7%. The slow start could be attributed to the massive snow year Crested Butte had along with everybody just trying to catch their breath after a long election cycle. That all changed in April and May as we saw the total sales volume in May reach over $30 million, a mark we have not seen since the real estate boom in 2007.
Again we are seeing substantial numbers of buyers coming from the front range as Denver, Boulder and the entire metro area continues to see massive growth. The whole state of Colorado is experiencing a boom in tourism along with people relocating to the state for new job opportunities and a better lifestyle.
The lower end of the market, less expensive single family homes, condos, and townhomes, continue to sell at a feverish pace. The town of Crested Butte has seen some of the larger offerings sell, including the two highest priced homes to ever sell within the Town of Crested Butte. The homes sold this winter for $2.7 million and $2.725 million. Crested Butte Sotheby’s International Realty was the exclusive listing brokerage for both of these homes.
The land market has yet to catch on and has been down in 2017. We expect this trend to change soon as the average price of single family homes and condos rises, and we continue to see a decrease in inventory.
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