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The Real Estate Source – Summer ’18

The one constant in Crested Butte is CHANGE! On June 4th, Vail Resorts announced that it had entered into an agreement to purchase Triple Peaks, LLC the parent company of Okemo Resort, Mt. Sunapee Resort and Crested Butte Mountain Resort. Other than waiting for regulatory approvals and Vail’s due diligence to be completed, the excitement is on and changes will be happening. We are all looking forward to ski area improvements, but also want the existing character of Crested Butte to remain. So Welcome Vail, let’s all work together for a harmonious transition and a great working relationship!

As to the market statistics shown on page 5 …they are deceiving. From January to June 2017, 28 vacant parcels of land had sold in the Upper East River Valley. This year during the same time frame, 50 parcels have sold. That 56% increase affects the average price per property sold statistic dramatically, as we know that land is normally much less than a condominium or home in price.

Housing permits are seeing the same dramatic rise. In the Town of Crested Butte, 30 building permits were issued between January – June of 2017. This year during the same period of time, 50 permits have been issued, resulting in a 60% increase for the Town. Mt. Crested Butte has been busy as well. There has been a 36% increase in overall building permits issued so far this year, and it could easily double!

We are all looking forward to a spectacular summer. The weather is great and we are incredibly busy, which we find energizing! Come visit and get to know the proven professionals on our staff. We have a wealth of information to guide you in your real estate journey, and we’re here to help.

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