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 2018

With low snowfall this previous winter, summer 2018 began early and the outdoor activities are in full swing! Dry conditions have many locals doing their rain dance as we are entering our second month under a fire ban. However, July typically brings afternoon showers, so Crested Buttians are hopeful for moisture soon.

The overall statistics below are a bit deceiving. A fall in overall average price reflects a shift from high ticket single family home sales to more affordable residential and land sales. Single family home sales were down 23% in the Town of Crested Butte and down 44% in Crested Butte South compared to 2017. Mt. Crested Butte saw a significant increase in sales volume, however, the total number of single family properties sold throughout Gunnison County over last year was down 11%. Condo sales saw the largest

increase in the Town of Crested Butte, with an impressive 185% increase in sales volume over last year, and a 250% increase in number of units sold Despite this increase, the average price of condos and townhomes has fallen throughout Gunnison Valley. Perhaps the most surprising statistic in condo sales is the 33% decrease in Mt. Crested Butte. Mt. CB is typically the stronghold of condos and townhomes; however, a lack in inventory has driven buyers down valley.

Thus far, 2018 appears to be the year of land sales with Mt. Crested Butte, Rural CB, and CB South seeing sales increase 59%, 94%, and 106% respectively. Lower Gunnison Valley shows 123% increase in land sales, and the number of parcels over 10 acres have doubled with a staggering 613% increase in sales volume thanks in part to a significate sale of 420 acres for $5.3 million. Needless to say, local builders are busy!

It’s already been a very exciting summer, and our busiest quarter is still to come!

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 2018 Q2 Market Report

The Real Estate SOURCE – Summer 2018

The one constant in Crested butte is CHANGE! On June 4th, Vail Resorts announced that it had entered into an agreement to purchase Triple Peaks, LLC the parent company of Okemo Resort, Mt. Sunapee Resort and Crested Butte Mountain Resort. Other than waiting for regulatory approvals and Vail’s due diligence to be completed, the excitement is on and changes will be happening. We are all looking forward to ski area improvements, but also want the existing character of Crested Butte to remain. So Welcome Vail, let’s all work together for a harmonious transition and a great working relationship!

As to the statistics below…they are deceiving. From January to June 2017, 28 vacant parcels of land had sold in the Upper East River Valley. This year during the same time frame, 50 parcels have sold. That 56% increase affects the average price per property sold statistic dramatically, as we know that land is normally much less than a condominium or home in price.

Housing permits are seeing the same dramatic rise. In the Town of Crested Butte, 30 building permits were issued between January – June of 2017. This year during the same period of time, 50 permits have been issued, resulting in a 60% increase for the Town. Mt. Crested Butte has been busy as well. There has been a 36% increase in overall building permits issued so far this year, and it could easily double!

We are all looking forward to a spectacular summer. The weather is great, and we are incredibly busy, which we find energizing! Come visit and let me show you the wealth of information available to guide you in your real estate journey. Feel free to contact me at (970) 209-2421 or Gary.Huresky@SIR.com.

 

Resort Report for 2018

As the national residential real estate market continues to evolve, it is important to note that markets demonstrating some of the most unique performances in the nation, are those located in resort communities throughout Colorado and the western United States. The Crested Butte Sotheby’s International Realty annual Resort Report analyzes data pertinent to the various resort real estate markets located throughout Colorado and the western United States, helping consumers make better real estate decisions, whether purchasing or selling a home in a resort area.

Typically found in desirable, slightly less accessible locations than national mainstream markets, resort markets tend to have a larger volume of luxury offerings to accommodate high-net-worth individuals that are drawn to these areas based on their exclusivity and proximity to world-class, year-round activities. In resort communities, seasonality, location, and employment opportunities often drive the inventory of homes down, and housing prices up. Interestingly, all of the Sotheby’s International Realty resort locations listed below, analyzed within the report, demonstrated increases in both average price and average price per square foot- a clear indicator of consumers’ continued desire for lifestyle-inspired home purchases and willingness to spend more for homes they truly desire.

When contemplating as large a financial commitment as the purchase or sale of a primary or second home in a resort area, market data can make a significant impact on making sound financial decisions. Crested Butte Sotheby’s International Realty, and the many respected Sotheby’s International Realty affiliates that contributed to this report, remain committed to helping consumers make better real estate decisions, whether purchasing or selling a home.

Click the Resort Report image for full report.

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

Resort Report 2018 Cover Crested Butte Real Estate

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