Quarter Report | Year End 2016
The 2016 upper valley real estate market ended with an almost 9% sales volume growth. This marks the 4th straight year that our sales volume has increased by at least 7% compared to the prior year’s sales. This can be attributed to the growing popularity of Crested Butte driving up the average price throughout the years.
The town of Crested Butte again was strong throughout all market segments. Homes, condos/townhomes and land all saw gains in average price, price per square foot/acre and total sales volume. However, the strongest market segment was the condo/townhome market in Mt. Crested Butte. Sixty-three more condominium units sold in 2016 than in 2015. Total sales volume growth was an amazing 73%.
We believe in 2017 we will continue to see increases in average sales price as Crested Butte is becoming more and more “on the map.” Adding to the positive messages about CB have been our recent snowfall totals. During the first 2 weeks of 2017 we recorded over 100” of snow — by far the most in the entire state of Colorado.
Our biggest challenge in 2017 will be a lack of well-priced inventory. There are many new listings coming on that are above market value as sellers are shooting for the stars hoping for a return of 2006-2007 values.
Our inventory is at an all-time low and we would be pleased to give you a confidential presentation of what we can do for you. Feel free to contact one of our knowledgeable brokers.