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Real Estate Markets are Local
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March 2008 Edition
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| Good day from Crested Butte! The Crested Butte real estate market continues to churn along in spite of national concerns of a recession as investors remain bullish on our ski town reminding us all know that real estate is a highly localized industry. Year-to-date 2008 activity for residential properties is consistent as we've seen 18 deals close representing just over $15,500,000 in volume. 4 of the 18 residential deals included homes priced from $1.5 million to $2.85 million. The average days-on-market for these residential sales was 299 days. For land, we've realized 9 land deals representing $3,440,000 in volume. The local market for vacant land in our area is currently quite polarized. Some vacant land parcels in Crested Butte South (10 miles south of Crested Butte) are selling for below $100,000 for the first time in 3 years. A 4/10th of an acre lot on Neville Way sold for $98,500 recently and there are 2 other parcels for sale under $100K and 33 parcels for sale in CB South priced under $200K. Meanwhile, up the road in the town of Crested Butte and on the mountain in Mt. Crested Butte land is selling at prices on the other end of the spectrum. A recent 50 ft. x 125 ft. parcel on Sopris Avenue sold for $550,000 and a Prospect neighborhood parcel on the back side of Mt. Crested Butte just sold for $875,000. A 45 acre parcel at Trappers (above the town of Crested Butte) sold for $700,000. Last week, the Buckhorn Ranch subdivision (5 minutes from downtown Crested Butte) was put under contract. This deal could end up being the one of the largest real estate transactions in our town's history. Asking price on this 200+ lot subdivision is $35 million. Parcels at Buckhorn Ranch range in size from sub-quarter acre home sites up to larger 1 and 2 acre tracts. Learn more about Buckhorn Ranch More publicity for Crested Butte. The media's love affair for our community and resort continues. |
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New Listing - 28 Gothic Avenue - $2,300,000 This premier Crested Butte home is located on Gothic in the quiet, west-end of town. The 1977 built Craftsman-style home was completely renovated recently delivering the property to a luxurious standard. Enjoy wide-plank pine floors, granite, tile and copper finishes throughout and a landscaped backyard like no other. The price includes the adjacent town parcels next door! Play in the huge side-yard or build another home! 2911 sft | 4 beds | 3.5 baths | Viking & Bosch Kitchen View 360 Tour |
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Dual Zoned Lots in Town - $639,000 This is the best priced parcel in the Town of Crested Butte for the value. Big views prevail in all directions. Gothic, Mt. Crested Butte and Whetstone. Special zoning allows for a duplex or single family residence. These are the only dual-zoned lots available in the Town of Crested Butte. Located close to the Crested Butte Community School, Center for the Arts, Majestic Plaza and Town Park this lot offers it all - in town convenience and a long term equity builder. View More Images and Property Details |
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Buckhorn Ranch Parcel - $185,000 This ready-to-build lot is 5 minutes from downtown Crested Butte! Buckhorn Ranch features excellent access to hiking and biking trails, cross country skiing, fishing, and more. This parcel is elevated and features unobstructed, stunning views of the Paradise Divide! The lot is 7500 sft., oriented to the south and enjoys large, deeded open-spaces all around. View More Images and Property Details |
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| Contact Broker Channing Boucher at 970-596-3228 EagleBrooke Realty 319 Elk Ave. Crested Butte, CO 81224 CrestedButteBroker.com - all rights reserved - © 2006-2008 - EagleBrookeRealty.com |
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