The Crested Butte Real Estate Insider

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Market Activity Picking Up in Crested Butte

July 2008 Edition

Good day from Crested Butte!
The word on the street for 2008? Sales are flat but decent demand for homes still exists. Brokers in other Colorado ski resort towns including Aspen, Telluride, Steamboat and places like Jackson Hole, Wyoming report similar conditions: sales have been flat compared to last year but summertime deal activity is picking up.

For the month of July, we experienced increased shopping activity for our real estate and it appears the spike in interest is beginning to translate into deals. Demand for residential property is slow but steady with just over 30 properties under contract from Crested Butte to Mt. Crested Butte. 11 of these homes are valued over $1,000,000. (20 of these properties include the yet-to-be-built Cimarron Lodge at the base of the ski area). A remodeled single family home in the town of Crested Butte just went under contract today. The asking price is $1,669,000.

The soft spot in our market is vacant land including both small homesites and large ranch land parcels. The inventory of land is at an all time high and competition among the many sellers is stiff. Excellent deals can now be found for homesites in Crested Butte South and Buckhorn Ranch and there are some nice opportunities available in Mt. Crested Butte and at the Crested Butte Country Club (Skyland).

Recent national publicity is helping to drive interest for Crested Butte.
Outside Magazine featured Crested Butte as a Best Place To Live in this month's issue. (Read Article PDF)

The magazine says its top picks represent the best that the United States has to offer in terms of revitalization. Outside senior editor Jeremy Spencer said the magazine focused on cities that have evolved themselves in recent years. “These are classic examples of places that have reinvented themselves from a low spot and changed for the better,” he says.

Thanks for reading today!

Channing Boucher

	39 Whetstone Road - Rocky Mountain Masterpiece The opportunity of a lifetime. This beautiful high mountain retreat offers it all. Enjoy this distinctive property as a very special Crested Butte family ski home, a corporate destination or in its current form: The Crested Butte Retreat. 11,500 sft, 4 master suites, 10 guest rooms, gym, Finnish saunas, spacious living, dining and entertainment areas, private decks and hot tubs, 1200 sft. garage. Offered at $7,995,000	View 39Whetstone.com
	The Black Diamond Lodge - Crested Butte's Newest Offering As a boutique lodge of only 8 custom condominium residences there are no crowds or conventions to deal with; just the peace, comfort, convenience and views that one expects from a mountain home. The Black Diamond Lodge provides its owners with residences that live like custom homes but with all the conveniences and low maintenance of a condominium. Offered from $799,000.	View 360 Tour
	Chateux Condominium - Rare 4 Bedroom This is an excellent opportunity to own a nicely updated 4 bedroom, 3 bathroom ski condo at the Chateaux Condominiums. Enjoy a big view of the ski mountain from this rare corner unit! Easy access to the remodeled clubhouse, pool and hot tub. Walk to the ski slopes or jump onto the convenient and free ski shuttle to the base area. Offered at $445,000	View 360 Tour

For More Information Contact Agent Channing Boucher at 970-596-3228
Benson Sothebys International Realty
433 Sixth Street Crested Butte CO 81224