Resort Report | 2019
Crested Butte experienced another strong year in 2018. Residential sales numbers showed a slight decline due to an overall increase in price and decrease in inventory; however, we witnessed some record-breaking sales such as the highest single-family sale ever in the Town of Crested Butte – at $3.85M. This year also experienced substantial growth in land sales as more buyers turned to building. Crested Butte Mountain Resort was acquired by Vail Resorts in the fall of 2018 with the promise of much-needed improvements, so we are expecting growth to continue.
Cathy Benson – Broker/Owner of Crested Butte Sotheby’s International Realty
Resort Market at a Glance
Living in a resort community offers a unique and attractive lifestyle, abundant with scenic views, recreational opportunities, and like-minded people. Buying and selling real estate in resort communities is unlike most transactions, which is why LIV Sotheby’s International Realty, with the help of other Sotheby’s International Realty affiliates, compiles a Resort Report focused on these one-of-a-kind communities. The Annual Resort Report analyzes 2018 year-over-year data from 12 prominent resort areas throughout the western half of the United States to inform consumers about the resorts’ performance, and what makes each one unique.
There are many factors that can impact real estate in these resort communities, including the changing seasons, available amenities, transportation offerings, and shifts in employment. Representing an increase in demand for a resort-driven lifestyle, most of these communities reported an increase in average sold price and average sold price per square foot, in combination with a decrease in average days on market.
Understanding the market is a critical piece to real estate success for both buyers and sellers. The 2019 Resort Report is assembled as a detailed resource for consumers to make informed decisions about their financial future.
Contact one of our knowledgeable brokers to get a more in-depth view of the Resort Report 2019.
Special Thanks to LIV Sotheby’s International Realty for designing the Resort Report and compiling the market data.