The Crested Butte area spring market is enjoying peak momentum from the previous year. Although sales have leveled, inventories and the time it takes to sell a home continue to decrease, which indicates sustained demand. Average prices have also risen year to date by 21% to $620,000.
As we enter the summer market, pending sales are up 71%, with 113 properties under contract, and the average property under contract is priced 31% higher than last year at this time.
Mount Crested Butte has been popular with nine sales already this year at an average selling price of over $1.19 million, a 63% increase over last year.
Two ranch sales have been reported, representing approximately $2 million in volume.
Benson Sotheby’s International Realty continues to lead the luxury market in the Crested Butte area with almost $60 million in available offerings. We represented clients in 8 of the 12 multi-million dollar sales that have occurred this year, and we represented the seller of the most expensive property ($3.3 million).