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CHRIS KOPF
PREVIEWS® PROPERTY SPECIALIST
COLDWELL BANKER BIGHORN REALTY
cell: 970.209.5405
chriskopf@bighornrealty.com
www.chriskopf.com

CRESTED BUTTE REAL ESTATE MARKET REPORT
2013 YEAR TO DATE – THROUGH OCTOBER
PREPARED BY CHRIS KOPF

Crested Butte Real Estate Market Report –
Year to Date through October 31, 2013

2013 YTD Total Number 
of Properties Sold

Crested Butte Real Estate Year to Date (YTD) Momentum Continues
Transactions and Total Dollar Volume of properties Sold continues to outshine
the past 4 years, and in some segments of the market values are slowly creeping
up as well. The Crested Butte and Mt. Crested Butte Summer Sales Tax
numbers showed record highs which is great news for the local economy. Also
great news for next Summer – the Colorado Pro Cycling Challenge will return
to Crested Butte – Stage 2 August 19, 2014 will start in Aspen and end in
Crested Butte. Stage 3 on August 20th will start in Gunnison and end on
Monarch Mountain. Put it on your calendar – this is truly an exciting event as
the top cyclists in the world race through our valley.
Looking at the numbers – the Total Number of Properties Sold is up 32% (more
than double 2009 numbers), Total Volume is up 34%. We are also still seeing
Price per square foot for both Single Family homes and Condos and Town
homes on the rise slightly. Average Days on Market for all properties is 311
days, and 411 days for luxury single family homes (Sold Price > $1M). Most
properties are being priced closer to the Market and the difference from Asking
to Selling Price for all properties is slimmer at 7.6%. Of note 74% of all
properties sold below Asking Price. Inventories are down (694 total properties
for sale) – Buyers should know there are still many options and great values in
every category of the Crested Butte Real Estate market.
Month

2012

JAN
FEB
MAR
APR
MAY
JUNE
JULY
AUG
SEPT
OCT

$4,216,000
$2,778,078
$8,091,400
$9,259,925
$8,391,150
$7,010,900
$10,291,000
$11,532,900
$20,031,300
$8,164,360

$13,923,750
$4,545,898
$6,600,200
$8,057,800
$10,228,700
$9,121,865
$3,869,300
$6,929,000
$9,052,355
$10,087,500

$8,751,700
$8,671,475
$10,261,486
$17,126,400
$8,539,400
$11,327,749
$13,731,000
$10,323,420
$17,127,511
$18,102,107

Totals

Monthly Results "
for the past 3 years

2011

$89,767,013

$82,416,368

$123,962,248

32%
229

132

YTD 2009

283

215

146

YTD 2010

YTD 2011

YTD 2012

2013 YTD Total $ Volume
of Properties Sold

YTD 2013

$123,962,248

34%
$89,767,013

$82,416,368

$69,039,107 $71,145,650

2013

YTD 2009

YTD 2010

YTD 2011

YTD 2012

YTD 2013

Sales Volume numbers represent all Single Family Homes, Condos, Townhomes and Land sales in the North End of the Gunnison Valley, including Almont, CB South, Rural Crested Butte, Crested Butte, Mt. Crested Butte and Rural Mt. Crested Butte as shown in the Gunnison Country
Association of Realtors MLS. Information contained herein deemed reliable, but not guaranteed.
CHRIS KOPF
PREVIEWS® PROPERTY SPECIALIST
COLDWELL BANKER BIGHORN REALTY
cell: 970.209.5405
chriskopf@bighornrealty.com
www.chriskopf.com

CRESTED BUTTE REAL ESTATE MARKET REPORT
2013 YEAR TO DATE – THROUGH OCTOBER
PREPARED BY CHRIS KOPF

YTD Average Single Family and Condo / Town Home Prices
Single Family Home Prices

Condo / Town Home Prices
Condo / Town Home Prices

$1,200,000

650,000

$1,100,000

575,000

$1,000,000

500,000

$900,000

Average Price

425,000

Average Price

$800,000

350,000

$700,000

275,000

$600,000
$500,000
2007

2008

2009

2010

2011

2012

2013

200,000
2007

2008

2009

2010

2011

2012

Year

Average Price

% Change

Year

Average Price

% Change

2007
2008
2009
2010
2011
2012
2013
AVG

$869,207
$963,109
$775,858
$835,168
$775,740
$626,239
$766,603
$801,703

8.42%
20.13%
-3.22%
4.17%
-3.24%
-21.89%
-4.38%
0.00%

2007
2008
2009
2010
2011
2012
2013
Average

662,220
456,749
355,633
319,089
226,499
260,887
254,981
$362,294

82.79%
26.07%
-1.84%
-11.93%
-37.48%
-27.99%
-29.62%
0.00%

Sales Volume numbers represent all Single Family Homes, Condos, Townhomes and Land sales in the North End of the Gunnison Valley, including Almont, CB South, Rural Crested Butte, Crested Butte, Mt. Crested Butte and Rural Mt. Crested Butte as shown in the Gunnison Country
Association of Realtors MLS. Information contained herein deemed reliable, but not guaranteed.

2013
CHRIS KOPF
PREVIEWS® PROPERTY SPECIALIST
COLDWELL BANKER BIGHORN REALTY
cell: 970.209.5405
chriskopf@bighornrealty.com
www.chriskopf.com

CRESTED BUTTE REAL ESTATE MARKET REPORT
2013 YEAR TO DATE – THROUGH OCTOBER
PREPARED BY CHRIS KOPF

Crested Butte Luxury Real Estate Market - Homes Sold for $1 Million + Year to Date
3 Single Family homes Sold for $1M+ in October (1 on the Bench, another downtown on Butte, and 1 in Alpine Meadows near
Nicholson Lake). There have been 23 Single Family homes Sold for $1M+ year to date – this segment of the market is similar to
2011, but more than doubled from this same period in 2012. The average sold price for these luxury homes was $1.76M, median
price of $1.49M, and Average Price per sq. ft. was $430. If you download the full Crested Butte Real Estate Report and look at the
details page – you will see the average discount from Asking to Selling price was 8.6%. The luxury total of $40.4M makes up exactly
1/3 of the overall market volume YTD.
Luxury Properties Under Contract in the Crested Butte
Area – There are currently 5 Single Family homes under
contract that have Asking Prices above $1M, all are
between $1.25M and $2M, including one ski-in/out home
in coveted Elk Run on Anthracite Drive. Of this group –
2 are in downtown Crested Butte, 2 in Mt. Crested Butte,
and 1 in Buckhorn Ranch.

Year
YTD
YTD
YTD
YTD
YTD

2009
2010
2011
2012
2013

Total #
Luxury
Homes Sold
12
12
21
10
23

$ Volume
Luxury
Homes Sold
$20,160,000
$21,606,600
$37,279,500
$18,160,000
$40,411,630

Avg. Price Per
Sq. Ft
$402
$419
$428
$395
$431

Luxury Properties For Sale in the Crested Butte Area There are a total of 75 Single Family Homes for sale with Asking Prices
over $1M for a total Volume of $161M. Of these there are 27 Homes for sale between $1.5M and $3M. There are 14 homes over
$3M including a new listing at 152 Evergreen Drive in Trappers Crossing at Crested Butte – this luxury 5 bedroom, 5 ½ Bath
mountain home was completed in 2006, designed by Sunlit Architecture and built by Fred Holbrook. Nearly 5,000 square
feet, fully furnished with high-end furniture and furnishings, many custom details and quality craftsmanship throughout –
offered at $3.9M.
2013 Year to Date
Total Luxury Homes
$1M+ Sold
Total All Sales
Single Family Homes
Mt. Crested Butte
Mt. CB Single Family Homes
Crested Butte Single Family Homes
Skyland Single Family Homes

Total Sold by
Category
$36,876,630
$33,376,630
$11,408,630
$11,408,630
$5,985,000
$2,669,000

Average
Sold Price
$1,676,210
$1,756,665
$1,901,438
$1,901,438
$1,496,250
$1,334,500

Total Asking
Price by
Category
$40,603,000
$36,729,000
$12,745,000
$12,745,000
$6,189,000
$2,845,000

Average
Asking
Price
$1,845,591
$1,933,105
$2,124,167
$2,124,167
$1,547,250
$1,422,500

Total Original
Price by
Category
43,682,000
39,758,000
12,264,000
14,189,000
6,739,000
3,525,000

Average
Original
Price
$1,985,545
$2,092,526
$2,044,000
$2,364,833
$1,684,750
$1,762,500

%
%
Average
Difference
Difference
Count of #
Price
Original
Asking Price
Properties
Per Sq.
Price vs.
vs. Sold
Sold
Foot
Sold Price
Price
-15.58%
-16.05%
-6.97%
-19.60%
-11.19%
-24.28%

-9.18%
-9.13%
-10.49%
-10.49%
-3.30%
-6.19%

$426
$437
$437
$564
$363

Sales Volume numbers represent all Single Family Homes, Condos, Townhomes and Land sales in the North End of the Gunnison Valley, including Almont, CB South, Rural Crested Butte, Crested Butte, Mt. Crested Butte and Rural Mt. Crested Butte as shown in the Gunnison Country
Association of Realtors MLS. Information contained herein deemed reliable, but not guaranteed.

22
19
6
6
4
2
CHRIS KOPF
PREVIEWS® PROPERTY SPECIALIST
COLDWELL BANKER BIGHORN REALTY
cell: 970.209.5405
chriskopf@bighornrealty.com
www.chriskopf.com

CRESTED BUTTE REAL ESTATE MARKET REPORT
2013 YEAR TO DATE – THROUGH OCTOBER
PREPARED BY CHRIS KOPF
$650,000

Prices'for'Single'Family'Homes''&'Condos'
Continuing'to'Rise'
Single Family (SF) homes – Comparing YTD 2013
results to prior years and given the mix of homes
sold we see that the Median Price for Single
Family homes has risen to $515,000 and the
average price per sq. ft. for Single Family homes
has risen from $268 per sq. ft. to $294. Looking at
the details in the tables you will see these prices
per sq. ft. vary based on the area – as example
Downtown Crested Butte shows $435, Mt. Crested
Butte $328 as average per sq. ft.

$575,000

$323

$515,000
$443,000

YTD 2009

YTD 2010

$252,500
$230,000

Condos and Townhomes – We continue to see
price per sq. ft. for Condos & Townhomes over the
$200 mark – YTD at $212. Median price for a
condo is $175,000 compared with $174,000 for the
same period in 2012.
Contact me with questions about your property, a
category or area of the Crested Butte Real Estate
Market for more detail.

Single Family Home"
Median Sales Price

YTD 2012

$297

YTD 2013

YTD 2009

Condo/Town Home Median 
Sales Price
$174,000

YTD 2013

$280
$257

YTD 2011

YTD 2013

YTD 2012

Condo / Town Homes"
$ Per Sq. Ft.
$212

$200

$189

$175,000

YTD 2012

YTD 2010

$294

$268

$442,000

YTD 2011

$299

Single Family Homes"
Avg. $ Per Sq. Ft.

$143,800

YTD 2009

What Real Estate is Selling in the Crested Butte area?
Year to date Single Family homes made up 65% of the
total volume representing $80.5M and 105 transactions.
There were 124 Condos & Townhome transactions YTD
and this represents $31.8M in volume. As the table
shows the Single Family Home and Luxury Properties
over $1M purchased by the Second Homeowner
represents a large percentage of the dollar volume in
our market (33%).

YTD 2010

YTD 2011

2013 YTD - Category
Total All Sales
Condos & Townhomes

YTD 2009

$ Volume of
Properties Sold

YTD 2010

% of Total

$123,962,248

YTD 2011

YTD 2012

Count of #
Properties
Sold

YTD 2013

% of Total

283

$31,856,777

26%

124

Single Family Homes

$80,493,335

65%

105

44%
37%

Mt. Crested Butte

$40,288,411

33%

105

37%

Mt. CB Single Family Homes
Crested Butte Single Family Homes
Skyland Single Family Homes
CB South Single Family Homes
Almont
Land/Lots
SF Homes Sold > $1M

$18,757,630
$19,688,755
$5,012,000
$6,885,400
$1,521,550
$11,612,136
$40,411,630

15%
16%
4%
6%
1%
9%
33%

17
22
5
18
8
54
23

6%
8%
2%
6%
3%
19%
8%

Sales Volume numbers represent all Single Family Homes, Condos, Townhomes and Land sales in the North End of the Gunnison Valley, including Almont, CB South, Rural Crested Butte, Crested Butte, Mt. Crested Butte and Rural Mt. Crested Butte as shown in the Gunnison Country
Association of Realtors MLS. Information contained herein deemed reliable, but not guaranteed.
CHRIS KOPF
PREVIEWS® PROPERTY SPECIALIST
COLDWELL BANKER BIGHORN REALTY
cell: 970.209.5405
chriskopf@bighornrealty.com
www.chriskopf.com

CRESTED BUTTE REAL ESTATE MARKET REPORT
2013 YEAR TO DATE – THROUGH OCTOBER
PREPARED BY CHRIS KOPF

The detail below represents the past three years data by category. Interesting note for both Buyers and Sellers: after 3 years of price decline, most properties are priced to the Market and offer
great value, evidence by % Difference Original Price vs. Sold Price and the % Difference Asking Price vs. Sold Price by Category, on average below 8% for all property types.

2013 Year to Date
Totals
Total All Sales
Condos & Townhomes
Single Family Homes
Mt. Crested Butte
Mt. CB Single Family Homes
Crested Butte Single Family Homes
Skyland Single Family Homes
CB South Single Family Homes
Almont
Land/Lots
SF Homes Sold > $1M

2012 Year to Date
Totals
Total All Sales
Condos & Townhomes
Single Family Homes
Mt. Crested Butte
Mt. CB Single Family Homes
Crested Butte Single Family Homes
Skyland Single Family Homes
CB South Single Family Homes
Almont
Land/Lots
SF Homes Sold > $1M

2011 Year to Date
Totals
Total All Sales
Condos & Townhomes
Single Family Homes
Mt. Crested Butte
Mt. CB Single Family Homes
Crested Butte Single Family Homes
Skyland Single Family Homes
CB South Single Family Homes
Almont
Land/Lots
SF Homes Sold > $1M

Total Sold
by Category
$123,962,248
$31,856,777
$80,493,335
$40,288,411
$18,757,630
$19,688,755
$5,012,000
$6,885,400
$1,521,550
$11,612,136
$40,411,630

Total Sold
by Category
$82,416,368
$22,697,205
$50,099,163
$30,762,450
$13,320,950
$14,960,513
$1,615,000
$5,405,300
$1,676,300
$9,620,000
$18,160,000

Total Sold
by Category
$89,767,013
$24,965,903
$58,956,260
$35,077,878
$15,824,000
$15,859,250
$4,726,000
$5,946,600
$1,305,500
$5,844,850
$37,279,500

Average
Sold Price
$438,029
$256,909
$766,603
$383,699
$1,103,390
$894,943
$1,002,400
$382,522
$190,194
$215,040
$1,757,027

Average
Sold Price
$383,332
$260,887
$626,240
$345,646
$832,559
$623,355
$538,333
$360,353
$279,383
$200,417
$1,816,000

Average
Sold Price
$391,996
$224,918
$775,740
$354,322
$989,000
$1,321,604
$945,200
$349,800
$217,583
$139,163
$1,775,214

Total Asking
Price by
Category

Average
Asking
Price

Total Original
Price by
Category

Average
Original
Price

$134,175,596
$34,161,934
$86,983,150
$43,875,000
$20,662,900
$20,592,400
$5,329,000
$7,188,600
$1,714,300
$13,030,512
$44,158,000

$474,119
$275,499
$828,411
$417,857
$1,215,465
$936,018
$1,065,800
$399,367
$214,288
$241,306
$1,919,913

$234,909,081
$126,927,650
$94,927,700
$131,480,181
$23,309,400
$22,222,400
$6,254,000
$7,459,700
$2,117,900
$14,390,431
$47,588,000

$830,067
$1,023,610
$904,073
$1,252,192
$1,371,141
$1,010,109
$1,250,800
$414,428
$264,738
$266,489
$2,069,043

Total Asking
Price by
Category

Average
Asking
Price

Total Original
Price by
Category

Average
Original
Price

$432,606
$289,168
$692,657
$400,867
$931,213
$665,612
$588,000
$374,050
$314,433
$259,171
$2,083,690

$111,917,347
$33,247,749
$64,591,448
$37,704,849
$18,265,000
$17,476,698
$1,764,000
$6,249,950
$1,946,800
$13,089,900
$24,384,000

$520,546
$382,158
$807,393
$423,650
$1,141,563
$728,196
$588,000
$416,663
$324,467
$272,706
$2,438,400

Total Asking
Price by
Category

Average
Asking
Price

Total Original
Price by
Category

Average
Original
Price

$101,318,057
$27,804,498
$66,648,109
$39,955,798
$18,109,300
$17,329,800
$5,384,000
$6,381,700
$1,482,300
$6,865,450
$43,251,500

$442,437
$250,491
$876,949
$403,594
$1,131,831
$1,444,150
$1,076,800
$375,394
$247,050
$163,463
$2,059,595

$129,431,859
$35,543,779
$84,055,610
$56,064,550
$24,510,300
$20,364,700
$6,735,000
$7,365,700
$1,624,400
$9,631,900
$54,967,400

$565,205
$320,214
$1,105,995
$566,309
$1,531,894
$1,697,058
$1,347,000
$433,276
$270,733
$229,331
$2,617,495

$93,010,348
$25,157,600
$55,412,548
$35,677,200
$14,899,400
$15,974,698
$1,764,000
$5,610,750
$1,886,600
$12,440,200
$20,836,900

% Difference % Difference
Original Price Asking Price
vs. Sold Price vs. Sold Price
-47.23%
-74.90%
-15.21%
-69.36%
-19.53%
-11.40%
-19.86%
-7.70%
-28.16%
-19.31%
-15.08%

-7.61%
-6.75%
-7.46%
-8.17%
-9.22%
-4.39%
-5.95%
-4.22%
-11.24%
-10.89%
-8.48%

% Difference % Difference
Original Price Asking Price
vs. Sold Price vs. Sold Price
-26.36%
-31.73%
-22.44%
-18.41%
-27.07%
-14.40%
-8.45%
-13.51%
-13.89%
-26.51%
-25.52%

-11.39%
-9.78%
-9.59%
-13.78%
-10.59%
-6.35%
-8.45%
-3.66%
-11.15%
-22.67%
-12.85%

% Difference % Difference
Original Price Asking Price
vs. Sold Price vs. Sold Price
-30.65%
-29.76%
-29.86%
-37.43%
-35.44%
-22.12%
-29.83%
-19.27%
-19.63%
-39.32%
-32.18%

-11.40%
-10.21%
-11.54%
-12.21%
-12.62%
-8.49%
-12.22%
-6.82%
-11.93%
-14.87%
-13.81%

Average
Price Per
Sq. Foot

Count of #
Properties
Sold

$431

283
124
105
105
17
22
5
18
8
54
23

Average
Price Per
Sq. Foot

Count of #
Properties
Sold

$212
$294
$285
$328
$435
$325
$178
$154

$395

215
87
80
89
16
24
3
15
6
48
10

Average
Price Per
Sq. Foot

Count of #
Properties
Sold

$200
$268
$272
$277
$339
$301
$159
$263

$189
$297
$254
$313
$472
$267
$153
$198
$428

Sales Volume numbers represent all Single Family Homes, Condos, Townhomes and Land sales in the North End of the Gunnison Valley, including Almont, CB South, Rural Crested Butte, Crested Butte, Mt. Crested Butte and Rural Mt. Crested Butte as shown in the Gunnison Country
Association of Realtors MLS. Information contained herein deemed reliable, but not guaranteed.

229
111
76
99
16
12
5
17
6
42
21
CHRIS KOPF
PREVIEWS® PROPERTY SPECIALIST
COLDWELL BANKER BIGHORN REALTY
cell: 970.209.5405
chriskopf@bighornrealty.com
www.chriskopf.com

CRESTED BUTTE REAL ESTATE MARKET REPORT
2013 YEAR TO DATE – THROUGH OCTOBER
PREPARED BY CHRIS KOPF

The Biery – Witt Performing Arts Center at Mt. Crested Butte capital campaign
has been very successful thanks to the generous donations of many – including Donna
& Paul Witt and Linda & Tom Biery. There is still a 3:1 matching campaign in place –
every dollar makes a difference. This will be a fantastic facility, an economic driver in
our community, and will have direct impact on property values. I hope you will join
me and go to: http://mcbpac.org to donate today and help reach the goal so that final
design and construction can begin! This is a great cause which will create lasting
benefits to our community for years to come.
Fall is a great time to be in Crested Butte. Spectacular blue bell days with a chill in the
air, and warm mid-day sun. For the most part all the summer recreational activities are
still available with the benefit of the beautiful Fall paintbrush and snow capped peaks.
I try to experience all there is to offer in the Crested Butte area - Fall brings Kokanee
salmon spawning from the Blue Mesa reservoir up the Gunnison to the East River back
to the Fish Hatchery (and sometimes mistakenly up the Taylor River). It is exciting to
hook a strong fighting salmon in shallow water. Fall also brings elk hunting season – a
coveted time to be outdoors by locals and and visitors who come to Colorado and our
Gunnison valley to hunt this prevalent but elusive game. Colorado has the largest elk
herd in the country – and it is well managed by hunting and the DOW.
Congratulations to Crested Butte Mayor Aaron “Huck” Huckstep who was re-elected.
Huck has a passion for Crested Butte, and understands that second homeowners and
visitors are key to our local economy and long-term sustainability.
How can I help you? This Crested Butte Real Estate Market report and the level of
detail is representative of what you can expect from me as your REALTOR®. If
you are contemplating selling and interested in finding out what your existing
property is worth – call me. As well if you are considering me to represent you as a
Buyer, I appreciate the opportunity to earn your business (or that of a friend you
think I could help).

CHRIS KOPF

Thanks,

!

CRESTED BUTTE REAL ESTATE

Under Contract There are 33 properties Under Contract
representing a total volume of $18.5M. Of the 33 properties Under
Contract 11 are Condos/Townhomes, 13 are Single Family homes
and 9 are lots. Active Listings There are 694 properties for sale
representing $480M.
All Properties
Under Contract
Total All Properties Under Contract
Condos & Townhomes
Single Family Homes
Mt. Crested Butte
Mt. CB Single Family Homes
Crested Butte Single Family Homes
Skyland Single Family Homes
CB South Single Family Homes
Land/Lots
SF Homes > $1M
Almont
35 Acre SF Homes

All Current Listings
Total All Sales
Condos & Townhomes
Single Family Homes
Mt. Crested Butte
Mt. CB Single Family Homes
Crested Butte Single Family Homes
Skyland Single Family Homes
CB South Single Family Homes
Almont
Land/Lots
SF Homes > $1M
35 Acre SF Homes

Total Under
Contract by
Asking Price
$18,551,895
$3,454,400
$13,593,495
$6,962,900
$3,245,000
$6,137,500
None
$1,118,000
$1,504,000
$8,123,000
$0
None

Total Current
Listing Price
by Category
$480,404,241
$77,624,765
$235,150,744
$149,272,674
$54,046,600
$45,417,000
$14,457,250
$9,730,900
$35,091,900
$167,628,732
$161,188,249
$52,787,999

Average
Count of #
Under
Properties
Contract by
Under
Asking
Contract
Price
$562,179
$314,036
$1,045,653
$409,582
$1,622,500
$1,227,500
$559,000
$167,111
$1,624,600
#DIV/0!

33
11
13
17
2
5
0
2
9
5
0
1

Count of #
Average
Properties
Listing Price
on the
Market
$692,225
$382,388
$1,264,251
$594,712
$1,286,824
$1,009,267
$1,445,725
$572,406
$626,641
$549,602
$2,149,177
$2,513,714

694
203
186
251
42
45
10
17
56
305
75
21

For additional info visit: www.chriskopf.com.
Contact me at: (970) 209-5405, or chriskopf@bighornrealty.com

Sales Volume numbers represent all Single Family Homes, Condos, Townhomes and Land sales in the North End of the Gunnison Valley, including Almont, CB South, Rural Crested Butte, Crested Butte, Mt. Crested Butte and Rural Mt. Crested Butte as shown in the Gunnison Country
Association of Realtors MLS. Information contained herein deemed reliable, but not guaranteed.

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Crested Butte Real Estate Market Report | Through October 31st 2013

  • 1. CHRIS KOPF PREVIEWS® PROPERTY SPECIALIST COLDWELL BANKER BIGHORN REALTY cell: 970.209.5405 chriskopf@bighornrealty.com www.chriskopf.com CRESTED BUTTE REAL ESTATE MARKET REPORT 2013 YEAR TO DATE – THROUGH OCTOBER PREPARED BY CHRIS KOPF Crested Butte Real Estate Market Report – Year to Date through October 31, 2013 2013 YTD Total Number of Properties Sold Crested Butte Real Estate Year to Date (YTD) Momentum Continues Transactions and Total Dollar Volume of properties Sold continues to outshine the past 4 years, and in some segments of the market values are slowly creeping up as well. The Crested Butte and Mt. Crested Butte Summer Sales Tax numbers showed record highs which is great news for the local economy. Also great news for next Summer – the Colorado Pro Cycling Challenge will return to Crested Butte – Stage 2 August 19, 2014 will start in Aspen and end in Crested Butte. Stage 3 on August 20th will start in Gunnison and end on Monarch Mountain. Put it on your calendar – this is truly an exciting event as the top cyclists in the world race through our valley. Looking at the numbers – the Total Number of Properties Sold is up 32% (more than double 2009 numbers), Total Volume is up 34%. We are also still seeing Price per square foot for both Single Family homes and Condos and Town homes on the rise slightly. Average Days on Market for all properties is 311 days, and 411 days for luxury single family homes (Sold Price > $1M). Most properties are being priced closer to the Market and the difference from Asking to Selling Price for all properties is slimmer at 7.6%. Of note 74% of all properties sold below Asking Price. Inventories are down (694 total properties for sale) – Buyers should know there are still many options and great values in every category of the Crested Butte Real Estate market. Month 2012 JAN FEB MAR APR MAY JUNE JULY AUG SEPT OCT $4,216,000 $2,778,078 $8,091,400 $9,259,925 $8,391,150 $7,010,900 $10,291,000 $11,532,900 $20,031,300 $8,164,360 $13,923,750 $4,545,898 $6,600,200 $8,057,800 $10,228,700 $9,121,865 $3,869,300 $6,929,000 $9,052,355 $10,087,500 $8,751,700 $8,671,475 $10,261,486 $17,126,400 $8,539,400 $11,327,749 $13,731,000 $10,323,420 $17,127,511 $18,102,107 Totals Monthly Results " for the past 3 years 2011 $89,767,013 $82,416,368 $123,962,248 32% 229 132 YTD 2009 283 215 146 YTD 2010 YTD 2011 YTD 2012 2013 YTD Total $ Volume of Properties Sold YTD 2013 $123,962,248 34% $89,767,013 $82,416,368 $69,039,107 $71,145,650 2013 YTD 2009 YTD 2010 YTD 2011 YTD 2012 YTD 2013 Sales Volume numbers represent all Single Family Homes, Condos, Townhomes and Land sales in the North End of the Gunnison Valley, including Almont, CB South, Rural Crested Butte, Crested Butte, Mt. Crested Butte and Rural Mt. Crested Butte as shown in the Gunnison Country Association of Realtors MLS. Information contained herein deemed reliable, but not guaranteed.
  • 2. CHRIS KOPF PREVIEWS® PROPERTY SPECIALIST COLDWELL BANKER BIGHORN REALTY cell: 970.209.5405 chriskopf@bighornrealty.com www.chriskopf.com CRESTED BUTTE REAL ESTATE MARKET REPORT 2013 YEAR TO DATE – THROUGH OCTOBER PREPARED BY CHRIS KOPF YTD Average Single Family and Condo / Town Home Prices Single Family Home Prices Condo / Town Home Prices Condo / Town Home Prices $1,200,000 650,000 $1,100,000 575,000 $1,000,000 500,000 $900,000 Average Price 425,000 Average Price $800,000 350,000 $700,000 275,000 $600,000 $500,000 2007 2008 2009 2010 2011 2012 2013 200,000 2007 2008 2009 2010 2011 2012 Year Average Price % Change Year Average Price % Change 2007 2008 2009 2010 2011 2012 2013 AVG $869,207 $963,109 $775,858 $835,168 $775,740 $626,239 $766,603 $801,703 8.42% 20.13% -3.22% 4.17% -3.24% -21.89% -4.38% 0.00% 2007 2008 2009 2010 2011 2012 2013 Average 662,220 456,749 355,633 319,089 226,499 260,887 254,981 $362,294 82.79% 26.07% -1.84% -11.93% -37.48% -27.99% -29.62% 0.00% Sales Volume numbers represent all Single Family Homes, Condos, Townhomes and Land sales in the North End of the Gunnison Valley, including Almont, CB South, Rural Crested Butte, Crested Butte, Mt. Crested Butte and Rural Mt. Crested Butte as shown in the Gunnison Country Association of Realtors MLS. Information contained herein deemed reliable, but not guaranteed. 2013
  • 3. CHRIS KOPF PREVIEWS® PROPERTY SPECIALIST COLDWELL BANKER BIGHORN REALTY cell: 970.209.5405 chriskopf@bighornrealty.com www.chriskopf.com CRESTED BUTTE REAL ESTATE MARKET REPORT 2013 YEAR TO DATE – THROUGH OCTOBER PREPARED BY CHRIS KOPF Crested Butte Luxury Real Estate Market - Homes Sold for $1 Million + Year to Date 3 Single Family homes Sold for $1M+ in October (1 on the Bench, another downtown on Butte, and 1 in Alpine Meadows near Nicholson Lake). There have been 23 Single Family homes Sold for $1M+ year to date – this segment of the market is similar to 2011, but more than doubled from this same period in 2012. The average sold price for these luxury homes was $1.76M, median price of $1.49M, and Average Price per sq. ft. was $430. If you download the full Crested Butte Real Estate Report and look at the details page – you will see the average discount from Asking to Selling price was 8.6%. The luxury total of $40.4M makes up exactly 1/3 of the overall market volume YTD. Luxury Properties Under Contract in the Crested Butte Area – There are currently 5 Single Family homes under contract that have Asking Prices above $1M, all are between $1.25M and $2M, including one ski-in/out home in coveted Elk Run on Anthracite Drive. Of this group – 2 are in downtown Crested Butte, 2 in Mt. Crested Butte, and 1 in Buckhorn Ranch. Year YTD YTD YTD YTD YTD 2009 2010 2011 2012 2013 Total # Luxury Homes Sold 12 12 21 10 23 $ Volume Luxury Homes Sold $20,160,000 $21,606,600 $37,279,500 $18,160,000 $40,411,630 Avg. Price Per Sq. Ft $402 $419 $428 $395 $431 Luxury Properties For Sale in the Crested Butte Area There are a total of 75 Single Family Homes for sale with Asking Prices over $1M for a total Volume of $161M. Of these there are 27 Homes for sale between $1.5M and $3M. There are 14 homes over $3M including a new listing at 152 Evergreen Drive in Trappers Crossing at Crested Butte – this luxury 5 bedroom, 5 ½ Bath mountain home was completed in 2006, designed by Sunlit Architecture and built by Fred Holbrook. Nearly 5,000 square feet, fully furnished with high-end furniture and furnishings, many custom details and quality craftsmanship throughout – offered at $3.9M. 2013 Year to Date Total Luxury Homes $1M+ Sold Total All Sales Single Family Homes Mt. Crested Butte Mt. CB Single Family Homes Crested Butte Single Family Homes Skyland Single Family Homes Total Sold by Category $36,876,630 $33,376,630 $11,408,630 $11,408,630 $5,985,000 $2,669,000 Average Sold Price $1,676,210 $1,756,665 $1,901,438 $1,901,438 $1,496,250 $1,334,500 Total Asking Price by Category $40,603,000 $36,729,000 $12,745,000 $12,745,000 $6,189,000 $2,845,000 Average Asking Price $1,845,591 $1,933,105 $2,124,167 $2,124,167 $1,547,250 $1,422,500 Total Original Price by Category 43,682,000 39,758,000 12,264,000 14,189,000 6,739,000 3,525,000 Average Original Price $1,985,545 $2,092,526 $2,044,000 $2,364,833 $1,684,750 $1,762,500 % % Average Difference Difference Count of # Price Original Asking Price Properties Per Sq. Price vs. vs. Sold Sold Foot Sold Price Price -15.58% -16.05% -6.97% -19.60% -11.19% -24.28% -9.18% -9.13% -10.49% -10.49% -3.30% -6.19% $426 $437 $437 $564 $363 Sales Volume numbers represent all Single Family Homes, Condos, Townhomes and Land sales in the North End of the Gunnison Valley, including Almont, CB South, Rural Crested Butte, Crested Butte, Mt. Crested Butte and Rural Mt. Crested Butte as shown in the Gunnison Country Association of Realtors MLS. Information contained herein deemed reliable, but not guaranteed. 22 19 6 6 4 2
  • 4. CHRIS KOPF PREVIEWS® PROPERTY SPECIALIST COLDWELL BANKER BIGHORN REALTY cell: 970.209.5405 chriskopf@bighornrealty.com www.chriskopf.com CRESTED BUTTE REAL ESTATE MARKET REPORT 2013 YEAR TO DATE – THROUGH OCTOBER PREPARED BY CHRIS KOPF $650,000 Prices'for'Single'Family'Homes''&'Condos' Continuing'to'Rise' Single Family (SF) homes – Comparing YTD 2013 results to prior years and given the mix of homes sold we see that the Median Price for Single Family homes has risen to $515,000 and the average price per sq. ft. for Single Family homes has risen from $268 per sq. ft. to $294. Looking at the details in the tables you will see these prices per sq. ft. vary based on the area – as example Downtown Crested Butte shows $435, Mt. Crested Butte $328 as average per sq. ft. $575,000 $323 $515,000 $443,000 YTD 2009 YTD 2010 $252,500 $230,000 Condos and Townhomes – We continue to see price per sq. ft. for Condos & Townhomes over the $200 mark – YTD at $212. Median price for a condo is $175,000 compared with $174,000 for the same period in 2012. Contact me with questions about your property, a category or area of the Crested Butte Real Estate Market for more detail. Single Family Home" Median Sales Price YTD 2012 $297 YTD 2013 YTD 2009 Condo/Town Home Median Sales Price $174,000 YTD 2013 $280 $257 YTD 2011 YTD 2013 YTD 2012 Condo / Town Homes" $ Per Sq. Ft. $212 $200 $189 $175,000 YTD 2012 YTD 2010 $294 $268 $442,000 YTD 2011 $299 Single Family Homes" Avg. $ Per Sq. Ft. $143,800 YTD 2009 What Real Estate is Selling in the Crested Butte area? Year to date Single Family homes made up 65% of the total volume representing $80.5M and 105 transactions. There were 124 Condos & Townhome transactions YTD and this represents $31.8M in volume. As the table shows the Single Family Home and Luxury Properties over $1M purchased by the Second Homeowner represents a large percentage of the dollar volume in our market (33%). YTD 2010 YTD 2011 2013 YTD - Category Total All Sales Condos & Townhomes YTD 2009 $ Volume of Properties Sold YTD 2010 % of Total $123,962,248 YTD 2011 YTD 2012 Count of # Properties Sold YTD 2013 % of Total 283 $31,856,777 26% 124 Single Family Homes $80,493,335 65% 105 44% 37% Mt. Crested Butte $40,288,411 33% 105 37% Mt. CB Single Family Homes Crested Butte Single Family Homes Skyland Single Family Homes CB South Single Family Homes Almont Land/Lots SF Homes Sold > $1M $18,757,630 $19,688,755 $5,012,000 $6,885,400 $1,521,550 $11,612,136 $40,411,630 15% 16% 4% 6% 1% 9% 33% 17 22 5 18 8 54 23 6% 8% 2% 6% 3% 19% 8% Sales Volume numbers represent all Single Family Homes, Condos, Townhomes and Land sales in the North End of the Gunnison Valley, including Almont, CB South, Rural Crested Butte, Crested Butte, Mt. Crested Butte and Rural Mt. Crested Butte as shown in the Gunnison Country Association of Realtors MLS. Information contained herein deemed reliable, but not guaranteed.
  • 5. CHRIS KOPF PREVIEWS® PROPERTY SPECIALIST COLDWELL BANKER BIGHORN REALTY cell: 970.209.5405 chriskopf@bighornrealty.com www.chriskopf.com CRESTED BUTTE REAL ESTATE MARKET REPORT 2013 YEAR TO DATE – THROUGH OCTOBER PREPARED BY CHRIS KOPF The detail below represents the past three years data by category. Interesting note for both Buyers and Sellers: after 3 years of price decline, most properties are priced to the Market and offer great value, evidence by % Difference Original Price vs. Sold Price and the % Difference Asking Price vs. Sold Price by Category, on average below 8% for all property types. 2013 Year to Date Totals Total All Sales Condos & Townhomes Single Family Homes Mt. Crested Butte Mt. CB Single Family Homes Crested Butte Single Family Homes Skyland Single Family Homes CB South Single Family Homes Almont Land/Lots SF Homes Sold > $1M 2012 Year to Date Totals Total All Sales Condos & Townhomes Single Family Homes Mt. Crested Butte Mt. CB Single Family Homes Crested Butte Single Family Homes Skyland Single Family Homes CB South Single Family Homes Almont Land/Lots SF Homes Sold > $1M 2011 Year to Date Totals Total All Sales Condos & Townhomes Single Family Homes Mt. Crested Butte Mt. CB Single Family Homes Crested Butte Single Family Homes Skyland Single Family Homes CB South Single Family Homes Almont Land/Lots SF Homes Sold > $1M Total Sold by Category $123,962,248 $31,856,777 $80,493,335 $40,288,411 $18,757,630 $19,688,755 $5,012,000 $6,885,400 $1,521,550 $11,612,136 $40,411,630 Total Sold by Category $82,416,368 $22,697,205 $50,099,163 $30,762,450 $13,320,950 $14,960,513 $1,615,000 $5,405,300 $1,676,300 $9,620,000 $18,160,000 Total Sold by Category $89,767,013 $24,965,903 $58,956,260 $35,077,878 $15,824,000 $15,859,250 $4,726,000 $5,946,600 $1,305,500 $5,844,850 $37,279,500 Average Sold Price $438,029 $256,909 $766,603 $383,699 $1,103,390 $894,943 $1,002,400 $382,522 $190,194 $215,040 $1,757,027 Average Sold Price $383,332 $260,887 $626,240 $345,646 $832,559 $623,355 $538,333 $360,353 $279,383 $200,417 $1,816,000 Average Sold Price $391,996 $224,918 $775,740 $354,322 $989,000 $1,321,604 $945,200 $349,800 $217,583 $139,163 $1,775,214 Total Asking Price by Category Average Asking Price Total Original Price by Category Average Original Price $134,175,596 $34,161,934 $86,983,150 $43,875,000 $20,662,900 $20,592,400 $5,329,000 $7,188,600 $1,714,300 $13,030,512 $44,158,000 $474,119 $275,499 $828,411 $417,857 $1,215,465 $936,018 $1,065,800 $399,367 $214,288 $241,306 $1,919,913 $234,909,081 $126,927,650 $94,927,700 $131,480,181 $23,309,400 $22,222,400 $6,254,000 $7,459,700 $2,117,900 $14,390,431 $47,588,000 $830,067 $1,023,610 $904,073 $1,252,192 $1,371,141 $1,010,109 $1,250,800 $414,428 $264,738 $266,489 $2,069,043 Total Asking Price by Category Average Asking Price Total Original Price by Category Average Original Price $432,606 $289,168 $692,657 $400,867 $931,213 $665,612 $588,000 $374,050 $314,433 $259,171 $2,083,690 $111,917,347 $33,247,749 $64,591,448 $37,704,849 $18,265,000 $17,476,698 $1,764,000 $6,249,950 $1,946,800 $13,089,900 $24,384,000 $520,546 $382,158 $807,393 $423,650 $1,141,563 $728,196 $588,000 $416,663 $324,467 $272,706 $2,438,400 Total Asking Price by Category Average Asking Price Total Original Price by Category Average Original Price $101,318,057 $27,804,498 $66,648,109 $39,955,798 $18,109,300 $17,329,800 $5,384,000 $6,381,700 $1,482,300 $6,865,450 $43,251,500 $442,437 $250,491 $876,949 $403,594 $1,131,831 $1,444,150 $1,076,800 $375,394 $247,050 $163,463 $2,059,595 $129,431,859 $35,543,779 $84,055,610 $56,064,550 $24,510,300 $20,364,700 $6,735,000 $7,365,700 $1,624,400 $9,631,900 $54,967,400 $565,205 $320,214 $1,105,995 $566,309 $1,531,894 $1,697,058 $1,347,000 $433,276 $270,733 $229,331 $2,617,495 $93,010,348 $25,157,600 $55,412,548 $35,677,200 $14,899,400 $15,974,698 $1,764,000 $5,610,750 $1,886,600 $12,440,200 $20,836,900 % Difference % Difference Original Price Asking Price vs. Sold Price vs. Sold Price -47.23% -74.90% -15.21% -69.36% -19.53% -11.40% -19.86% -7.70% -28.16% -19.31% -15.08% -7.61% -6.75% -7.46% -8.17% -9.22% -4.39% -5.95% -4.22% -11.24% -10.89% -8.48% % Difference % Difference Original Price Asking Price vs. Sold Price vs. Sold Price -26.36% -31.73% -22.44% -18.41% -27.07% -14.40% -8.45% -13.51% -13.89% -26.51% -25.52% -11.39% -9.78% -9.59% -13.78% -10.59% -6.35% -8.45% -3.66% -11.15% -22.67% -12.85% % Difference % Difference Original Price Asking Price vs. Sold Price vs. Sold Price -30.65% -29.76% -29.86% -37.43% -35.44% -22.12% -29.83% -19.27% -19.63% -39.32% -32.18% -11.40% -10.21% -11.54% -12.21% -12.62% -8.49% -12.22% -6.82% -11.93% -14.87% -13.81% Average Price Per Sq. Foot Count of # Properties Sold $431 283 124 105 105 17 22 5 18 8 54 23 Average Price Per Sq. Foot Count of # Properties Sold $212 $294 $285 $328 $435 $325 $178 $154 $395 215 87 80 89 16 24 3 15 6 48 10 Average Price Per Sq. Foot Count of # Properties Sold $200 $268 $272 $277 $339 $301 $159 $263 $189 $297 $254 $313 $472 $267 $153 $198 $428 Sales Volume numbers represent all Single Family Homes, Condos, Townhomes and Land sales in the North End of the Gunnison Valley, including Almont, CB South, Rural Crested Butte, Crested Butte, Mt. Crested Butte and Rural Mt. Crested Butte as shown in the Gunnison Country Association of Realtors MLS. Information contained herein deemed reliable, but not guaranteed. 229 111 76 99 16 12 5 17 6 42 21
  • 6. CHRIS KOPF PREVIEWS® PROPERTY SPECIALIST COLDWELL BANKER BIGHORN REALTY cell: 970.209.5405 chriskopf@bighornrealty.com www.chriskopf.com CRESTED BUTTE REAL ESTATE MARKET REPORT 2013 YEAR TO DATE – THROUGH OCTOBER PREPARED BY CHRIS KOPF The Biery – Witt Performing Arts Center at Mt. Crested Butte capital campaign has been very successful thanks to the generous donations of many – including Donna & Paul Witt and Linda & Tom Biery. There is still a 3:1 matching campaign in place – every dollar makes a difference. This will be a fantastic facility, an economic driver in our community, and will have direct impact on property values. I hope you will join me and go to: http://mcbpac.org to donate today and help reach the goal so that final design and construction can begin! This is a great cause which will create lasting benefits to our community for years to come. Fall is a great time to be in Crested Butte. Spectacular blue bell days with a chill in the air, and warm mid-day sun. For the most part all the summer recreational activities are still available with the benefit of the beautiful Fall paintbrush and snow capped peaks. I try to experience all there is to offer in the Crested Butte area - Fall brings Kokanee salmon spawning from the Blue Mesa reservoir up the Gunnison to the East River back to the Fish Hatchery (and sometimes mistakenly up the Taylor River). It is exciting to hook a strong fighting salmon in shallow water. Fall also brings elk hunting season – a coveted time to be outdoors by locals and and visitors who come to Colorado and our Gunnison valley to hunt this prevalent but elusive game. Colorado has the largest elk herd in the country – and it is well managed by hunting and the DOW. Congratulations to Crested Butte Mayor Aaron “Huck” Huckstep who was re-elected. Huck has a passion for Crested Butte, and understands that second homeowners and visitors are key to our local economy and long-term sustainability. How can I help you? This Crested Butte Real Estate Market report and the level of detail is representative of what you can expect from me as your REALTOR®. If you are contemplating selling and interested in finding out what your existing property is worth – call me. As well if you are considering me to represent you as a Buyer, I appreciate the opportunity to earn your business (or that of a friend you think I could help). CHRIS KOPF Thanks, ! CRESTED BUTTE REAL ESTATE Under Contract There are 33 properties Under Contract representing a total volume of $18.5M. Of the 33 properties Under Contract 11 are Condos/Townhomes, 13 are Single Family homes and 9 are lots. Active Listings There are 694 properties for sale representing $480M. All Properties Under Contract Total All Properties Under Contract Condos & Townhomes Single Family Homes Mt. Crested Butte Mt. CB Single Family Homes Crested Butte Single Family Homes Skyland Single Family Homes CB South Single Family Homes Land/Lots SF Homes > $1M Almont 35 Acre SF Homes All Current Listings Total All Sales Condos & Townhomes Single Family Homes Mt. Crested Butte Mt. CB Single Family Homes Crested Butte Single Family Homes Skyland Single Family Homes CB South Single Family Homes Almont Land/Lots SF Homes > $1M 35 Acre SF Homes Total Under Contract by Asking Price $18,551,895 $3,454,400 $13,593,495 $6,962,900 $3,245,000 $6,137,500 None $1,118,000 $1,504,000 $8,123,000 $0 None Total Current Listing Price by Category $480,404,241 $77,624,765 $235,150,744 $149,272,674 $54,046,600 $45,417,000 $14,457,250 $9,730,900 $35,091,900 $167,628,732 $161,188,249 $52,787,999 Average Count of # Under Properties Contract by Under Asking Contract Price $562,179 $314,036 $1,045,653 $409,582 $1,622,500 $1,227,500 $559,000 $167,111 $1,624,600 #DIV/0! 33 11 13 17 2 5 0 2 9 5 0 1 Count of # Average Properties Listing Price on the Market $692,225 $382,388 $1,264,251 $594,712 $1,286,824 $1,009,267 $1,445,725 $572,406 $626,641 $549,602 $2,149,177 $2,513,714 694 203 186 251 42 45 10 17 56 305 75 21 For additional info visit: www.chriskopf.com. Contact me at: (970) 209-5405, or chriskopf@bighornrealty.com Sales Volume numbers represent all Single Family Homes, Condos, Townhomes and Land sales in the North End of the Gunnison Valley, including Almont, CB South, Rural Crested Butte, Crested Butte, Mt. Crested Butte and Rural Mt. Crested Butte as shown in the Gunnison Country Association of Realtors MLS. Information contained herein deemed reliable, but not guaranteed.