Resort Report | 2018
A truly remarkable year in our valley—the increase in dollar volume of 32.33% says a lot of the housing market in Crested Butte, Colorado! Crested Butte’s inventory has dramatically reduced without replenishment, and 66% of listings are vacant land. The decrease in inventory will push the market to build ‘new’ for the first time in 10 years, positioning the area for continued growth in 2018 and beyond.
Cathy Benson – Broker/Owner of Crested Butte Sotheby’s International Realty
Resort Market at a Glance
As the national residential real estate market continues to evolve, it is important to note that markets demonstrating some of the most unique performances in the nation, are those located in resort communities throughout Colorado and the western United States. The Crested Butte Sotheby’s International Realty annual Resort Report 2018 analyzes data pertinent to the various resort real estate markets located throughout Colorado and the western United States, helping consumers make better real estate decisions, whether purchasing or selling a home in a resort area.
Typically found in desirable, slightly less accessible locations than national mainstream markets, resort markets tend to have a larger volume of luxury offerings to accommodate high-net-worth individuals that are drawn to these areas based on their exclusivity and proximity to world-class, year-round activities. In resort communities, seasonality, location, and employment opportunities often drive the inventory of homes down, and housing prices up. Interestingly, all of the Sotheby’s International Realty resort locations listed below, analyzed within the report, demonstrated increases in both average price and average price per square foot- a clear indicator of consumers’ continued desire for lifestyle-inspired home purchases and willingness to spend more for homes they truly desire.
When contemplating as large a financial commitment as the purchase or sale of a primary or second home in a resort area, market data can make a significant impact on making sound financial decisions. Crested Butte Sotheby’s International Realty, and the many respected Sotheby’s International Realty affiliates that contributed to this report, remain committed to helping consumers make better real estate decisions, whether purchasing or selling a home.
Contact one of our knowledgeable brokers to get a more in-depth view of the Resort Report 2018.
Special Thanks to LIV Sotheby’s International Realty for designing the Resort Report and compiling all of the market data.