| Happy Holidays from Channing Boucher |
December 2006 Edition
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Its time for a look at 2006 real estate figures for the north end of our valley including Crested Butte South, Crested Butte, Mt. Crested Butte and our rural areas. One thing is for sure, the market is not as "flat" as some might believe. True, we didn't go as big as 2005's record year, but 2006 was very strong in terms of dollar volume and the types of properties that were sold. Investors and second home buyers remain bullish on Crested Butte.
During 2006,
Residential property sales reached 170 properties sold and $127 million in volume. Interestingly, average days on market (DOM) was only 166! Compared to national averages and other western resort markets our DOM was decent. The average sale price for residential property was $741,000.
Land property sales this year reached 101 sales with a dollar volume of just over $62 million and an average DOM of only 152! The average sale price for vacant land was $618,000.
Commercial property sales reached 28 properties sold and $16.1 million in volume with the average DOM at 288 days. The average commercial property sale price was $575,000.
For comparison:
2006 total dollar volume: $191 million (271 transactions)
2005 total dollar volume: $237 million (626 transactions)
2004 total dollar volume: $17.7 million (59 transactions)
It is safe to say that our real estate market is in transition. We did almost the same dollar volume as last year with less than half the number of transactions! For my complete Western Resort Outlook report and local market analysis, please send me an email request or give me a call!
Happy Holidays!
Channing Boucher
970-596-3228
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New Listing: 178 Garland Drive - $ 1,495,000 Skyland luxury on Lake Grant. This 3754 sft. town home features stunning views of the Paradise Divide, Mt. Emmons and Whetstone. All granite tops, Viking Stove, hot tub, 1000 sft finished basement! View 360 Tour |
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New Listing: Lots 1-2, Block 18- $ 795,000 West side of town lot on the corner of 1st of Gothic. Elevated with unobstructed views of Mt. Crested Butte! 2 blocks to ski shuttle, Elk Ave. restaurants and shops! |
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| Contact Agent Channing Boucher 970-596-3228 Post a Comment on my Crested Butte Real Estate blog Order a 360 Virtual Tour for your listings ChanningBoucher.com - all rights reserved - © 2006 |
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