970.209.2421 // Gary.Huresky@SIR.com

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Gary Huresky’s Crested Butte Real Estate Resource

Gary Huresky - Crested Butte Sotheby's International Realty

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.

970.209.2421

Gary.Huresky@SIR.com

Crested Butte Sotheby’s International Realty
401 Elk Avenue,
Crested Butte, Colorado 81224

Second Quarter Market Report for 2017

The Crested Butte real estate market is up an astonishing 29.9% through the first half of the year compared to 2016. We also officially hit the $100 million mark by the halfway point of 2017 for the first time in ten years. We saw record sales in May and June, and these two months hit sales totals we had not seen since 2007. Overall we saw a robust second quarter in 2017.

The Crested Butte real estate market’s growth was fueled by strong sales volume numbers on Rural Crested Butte single family homes and Mt. Crested Butte condos and townhomes, which were up 78% and 53% respectively. The Rural Crested Butte single family home segment saw an increase in upper-end home sales with nine homes selling for over $1 million and the highest selling for $4.5 million. The
Mt. Crested Butte condos and townhomes segment saw 72 properties sell with a $65,000 increase in the average sales price.

The land market continues to be soft as total sales volume continues to show little to no growth from year to year. As average residential prices continue to increase the land market will start seeing growth in the latter part of 2017.

As we approach our three busiest real estate closing months of July, August, and September, we are looking at another strong quarter. Currently, there are 77 properties under contract in the upper valley with a listing valuation of over $38 million.

Feel free to contact me at (970) 209-2421 or Gary.Huresky@SIR.com.

Click the Quarter Report image for full report.

Crested Butte Real Estate Quarter 2 2017 Report

COLLECTION – Summer 2017

Crested Butte Real Estate Summer

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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