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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 – Winter 2018/2019

Crested Butte real estate winter 18-19 cover

Variable  is  the  word  that  comes  to  mind  when  describing  the  real  estate  market  in  Gunnison  County  as  we  look  at  our 2018  statistics.  This  has  been  expected  with  the  acquisition  of  Crested  Butte  Mountain  Resort  by  Vail  Resorts,  and  we foresee  change  to  continue  in  the  next  year.

Certain  categories,  such  as  vacant  land,  have  seen  a  dramatic  boost  in  sales  this  year.  More  35+  acre  parcels  have  sold in  2018  than  any  year  in  the  past  decade.  Vacant  land  inventory  is  the  highest  we  have  seen  in  the  past  10  years;  therefore,  land  prices  have  not  rebounded  to  the  highs  of  2007.    Rural  Crested  Butte  and  Crested  Butte  South  saw  the  largest  increase  in  sales  compared  to  last  year,  so  the  building  movement  is  not  likely  to  slow  down  anytime  soon.

Residential  inventory  on  the  other  hand  is  down  compared  to  last  year,  resulting  in  less  sales.    The  average  sold  price  for Gunnison  County  also  dipped  from  2017.    Specifically,  Rural  Crested  Butte  experienced  the  largest  decline  in  residential  sales,  with  total  properties  sold  thus  far  down  36%  and  sales  volume  down  37%.    Contrarily,  Crested  Butte  South saw  a  19%  spike  in  residential  sales  volume  and  a  significant  increase  in  average  sales  price  –  the  highest  CB  South  has  seen  in  the  last  ten  years!

With  new  resort  ownership  this  year,  the  real  estate  market  is  expected  to  grow,  and  with  new  developments  underway,  we  expect  the  next  year  to  be  very  exciting  here  in  Crested  Butte!

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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