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

Third Quarter Market Report for 2018

As the third quarter closes and we reflect on the year thus far, one thing is certain; 2018 is the year of change for Crested Butte. We can undoubtedly expect even more change in the coming years with the recent acquisition of Crested Butte Mountain Resort by Vail Resorts.

We reported in the second quarter of this year that land sales were improving, and this is still true. With the exception of the Town of Crested Butte, land sales have increased by 60% or more in every area in Gunnison County compared to 2017. Parcels of 10+ acres continue to see the most growth year over year with an astonishing 318% increase in sales volume (due in part to a $5.3 million sale in March) and 84% more properties sold than in 2017. Crested Butte South experienced the second largest jump in properties sold with 78% more than 2017.

Looking at all property types, prices are down 15%, causing a 9% dip in total sales volume compared to last year; however, we are seeing an increase of 6.1% in total units sold. Single family home sales were divided; the Town of Crested Butte and outlying areas continued to see a significant decrease in sales over last year, while Mt. CB sales were up 50% and Crested Butte South enjoyed a spike in sales volume of 65% in the third quarter. As inventory improves, condo sales appear to be equalizing slightly over Quarter 2 with sales in the Town of Crested Butte remaining strong and Mt. Crested Butte down just 5% over last year (compared to -33% last quarter).

As the winter season kicks off and the new resort ownership takes shape, we are excited to see how the expected improvements affect interest in our small town. As tourism continues to grow in the Gunnison Valley, we expect the real estate market to follow suit.

Please visit me in beautiful downtown Crested Butte to learn more about these statistics and how I can help you in your real estate endeavors. I’m here to help!

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

Click the Quarter Report image for full report.

As the third quarter closes and we reflect on the year thus far, one thing is certain; 2018 is the year of change for Crested Butte. We can undoubtedly expect even more change in the coming years with the recent acquisition of Crested Butte Mountain Resort by Vail Resorts. We reported in the second quarter of this year that land sales were improving, and this is still true. With the exception of the Town of Crested Butte, land sales have increased by 60% or more in every area in Gunnison County compared to 2017. Parcels of 10+ acres continue to see the most growth year over year with an astonishing 318% increase in sales volume (due in part to a $5.3 million sale in March) and 84% more properties sold than in 2017. Crested Butte South experienced the second largest jump in properties sold with 78% more than 2017. Looking at all property types, prices are down 15%, causing a 9% dip in total sales volume compared to last year; however, we are seeing an increase of 6.1% in total units sold. Single family home sales were divided; the Town of Crested Butte and outlying areas continued to see a significant decrease in sales over last year, while Mt. CB sales were up 50% and Crested Butte South enjoyed a spike in sales volume of 65% in the third quarter. As inventory improves, condo sales appear to be equalizing slightly over Quarter 2 with sales in the Town of Crested Butte remaining strong and Mt. Crested Butte down just 5% over last year (compared to -33% last quarter). As the winter season kicks off and the new resort ownership takes shape, we are excited to see how the expected improvements affect interest in our small town. As tourism continues to grow in the Gunnison Valley, we expect the real estate market to follow suit. Visit us in beautiful downtown Crested Butte to learn more about these statistics and how Crested Butte Sotheby’s International Realty can help you in your real estate endeavors. Our staff of professionals have a wealth of information, and we’re here to help!

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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