Crested Butte Real Estate Report – May 2012
The Crested Butte Real Estate Report
by Doug Duryea (May 2012)
Written for the Summer 2012 Crested Butte News Visitor’s Guide
So, how is the real estate market doing? A question many realtors are frequently asked is- “How is the real estate market doing?” Most realtors would love to say that real estate is doing “awesome”, and many may be tempted to report just that. Some may declare that it is a “Buyers” market or a “Sellers” market. Or, it may be said that the market has not met previous forecasts, however…………
Residential sales volume for 2011 was up 60% over the previous year. Two areas that have witnessed big jumps in activity are luxury single family homes in the Town of Crested Butte and ski area condos at the base area.
The sale of ski area condos picked up recently. Inventories are shrinking at and prices appear to be correcting themselves- upward!
Vacant land has seen an ever bigger increase in activity in 2011/2012 as many buyers are starting to realize the tremendous deals available on homesites. Vacant land sales in 2011 were up 90% over the previous year.
Consider the special nature of Crested Butte–its unique wilderness setting, its deep history and amazing collection of people. Account for the fact that millions of people over the next 10 years will be buying homes in destination resorts. Look at the commitment of the community, local government, Crested Butte Mountain Resort, area businesses, developers and non-profits in the valley. Add it all together and your opportunity to live in this enchanting place knocks here and now.
The above figures and data were taken from Gunnison Country Association of Realtors’ MLS system.