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For fully active Newsletter go to http://www.crestedbutteforsale.com/corey_dwan_market_report_may_2012.html
May, 2012 Issue
The Crested Butte Connoisseur Brought to you by Corey Dwan of Benson Sotheby's International Realty
I must say this off season has been the most mild and dry off season in my seven years in the valley. Almost all of the mountain bike trails are open, dry and tacky. The hiking is fantastic and the fishing couldn't be better. We are experiencing early wildflowers, mid-summer temperatures and clear, blue skies. Crested Butte is truly the best summer destination in Colorado and historically the first three weeks of June are quiet with just a few visitors. So beat the crowd and get up here early to enjoy everything Crested Butte has to offer a month early!
USA Today - 10 Great Places to See Spring Wildflowers
Crested Butte Market Update
As we bump along the bottom of the market and approach the summer months we should take a moment to reflect on the sales from the beginning of the year. We have experienced more active buyers than we have since 2006. Multiple bids are common place with as many as eight buyers on opportunistically priced bank owned properties. On the residential front including homes, condos and town homes from Almont north (the Upper Valley) we experienced 79 transactions totally $35,543,948. That's a 14% jump over the same period last year and we still have another 32 properties under contract totaling $12,180,250. Land has picked up considerable over last year as well with 27 transactions closed since January 1, 2012 worth $5,798,700 with three more under contract. This is an astounding 65% increase over the same period last year. With single family home inventory down and land prices at their all time lows it finally makes sense to purchase land and build your dream mountain home. Attractive land mortgages are not yet available so cash is king.
Notable land sales would include a $625,000 sale in the Prospect neighborhood making a drastic come back after sales prices as low as $100,000 and a 50'X100' Crested Butte town lot located on Butte Avenue for $580,000. Prices for an in town lot had dropped to as low as $250,000 since the economic downturn. Noteworthy single family home sales include 105 Bear Scratch for $4,000,000, 5 Aspen Hill Road for $1,900,000, 750 Providence Ridge for $1,600,000 and two in town homes for $1,450,000 and $1,400,000. Benson Sotheby's represented one or both sides of the top three transactions. Where else would you go to buy or sell your high end Crested Butte home? Click here to read an interesting article regarding high-income real estate agents lead the pack on technology, crucial for resort town real estate sales.
Another impressive sale was the Grubstake Building in downtown Crested Butte purchased by Chicago Financier and Dodgers owner Mark Walter. It was purchased for a bargain price of $766,700 for 2,300 square feet of commercial space on Elk Avenue. I believe we can all expect some good things to come on the corner of Elk Avenue and Third Street. Click here to read LA Times article. Mr. Walter is also rumored to have purchased 105 Bear Scratch on Mt. Crested Butte.
Crested Butte in the News
Talks Underway for a Permanent Solution to Prevent Mining on Mt. Emmons Sixth Street Station Gained Approval from Crested Butte Officials 9 News - 10 Great Places to See Spring Wildflowers Crested Butte Jumps the Gun for Next Season's Passes Fat Tire Fun in the Rockies
Current News of the National Real Estate Market Foreclosure Filings down 25% in Colorado in 2011 The One Number to Watch for a Housing Recovery Bucking Trend - REOs Show Price Gains - Clear Capital Stunned Home Buyers Find that Bidding Wars are Back Value Vacations and Great Activities Click Here for information
State Records for Kokanee Salmon, Lake, Rainbow and Brown Trout Click Here for Gunnison - Crested Butte fishing information
Stage 1 Fire Ban in Effect Click here to download fire restrictions information
Shaun Horne's Latest Painting - Absolutely Beautiful! Click here for Oh Be Joyful Gallery's Latest Newsletter
Slate River, Early Summer 2012 - Shaun Horne - 44'X30' - $5,950 unframed
Looking for a piece of land to build your dream home? Check out 38 Ruby Drive on Mt. Crested Butte with amazing views and old growth aspens. Click here for more information.
2012 Community Calendar
In This Issue:
Real Estate Market Recap Crested Butte in the News Solution to Mt. Emmons Mine? National Real Estate News Gunnison County Fishing Fire Ban in Effect Oh Be Joyful Gallery June Schedule of Events Price Reductions New Land Listings
Featured Listings Global Listings
1 Sage Hill Spur Road, Almont $949,000 Price Reduced!
Mt. Crested Butte Homes Mt. Crested Butte Condos Mt. Crested Butte Land Crested Butte Homes Crested Butte Condos Crested Butte Land Rural Crested Butte Homes Rural Crested Butte Condos Rural Crested Butte Land Crested Butte South Homes Crested Butte South Condos Crested Butte South Land Gunnison Area Homes Gunnison Area Condos Gunnison Area Land Global Real Estate
June Schedule of Events 1 - First Friday Gallery Crawl & Music, Various Galleries & Locations, Gunnison 8 – 15 - Crested Butte Restaurant Week (Special Dining & Lodging Deals) 9 - Taylor Park Marina Fishing Derby, Taylor Park Reservoir 9 - 10 - Crested Butte Mountain Resort Open for the Weekend 10, 17, 24 - Crested Butte Farmers’ Market, Elk Avenue & Second Street 15,16,22,23,29,30 - Gunnison Valley Observatory Open for Public Viewing, Gunnison 16 - Adventure Park, Evolution Bike Park, Zip Lines & Chairlift Open for the Summer, CB Mountain Resort 20, 27 - Wednesdays at Western State College, Different Activities/Topics Each Week, Gunnison 21, 28 - Exploration Experiences at Rocky Mountain Biological Laboratory, Gothic 21 – 24 - Crested Butte Bike Week, Crested Butte & Mt. Crested Butte 22, 29 - Fridays @ 5 at the Gunnison Art Center, Live Music on the Courtyard 22 – 24 - Crested Butte Writers Conference, Elevation Hotel & Spa, Mt. Crested Butte 22 – 24 - Wildflower Rush Cross Country/Downhill Bike Races, Crested Butte Mtn. Resort 22 – 25 - Gunnison River Festival, Gunnison & Almont 23 - Readers in the Rockies, Elevation Hotel & Spa, Mt. Crested Butte 23 - Annual Breeding Bird Survey at Rocky Mountain Biological Laboratory, Gothic 23 – 24 - Bridges of the Butte (24-hour townie bike tour), Presented by the Adaptive Sports Center, CB 24 - Sundays @ 6 (Free Concerts) Presented by Gunnison Arts Center, Legion Park 25 - Alpenglow (free outdoor concert), Crested Butte Center for the Arts 28 - ArtWalk Evening, Studios & Galleries in Downtown Crested Butte 30 - Gunnison Farmers’ Market, Virginia Avenue & Main Street 30 - Aug 12 - Crested Butte Music Festival
Please Visit My Favorite Gallery in Crested Butte - Oh Be Joyful Gallery
Shaun Horne - Red Buildings
Shaun Horne - Aspens and Lupines
Shaun Horne - Tamale View
Thanks for all your referrals! I succeed when people like you refer me to their family, friends, neighbors and colleagues. It's the best kind of feedback I can receive. So thanks for continuing to pass along this newsletter to all.
Corey Dwan Benson Sotheby's International Realty 433 Sixth Street Crested Butte, CO 81224 970-596-3219 Cell 970-797-1810 Fax Corey.Dwan@SothebysRealty.com www.CrestedButteForSale.com www.SothebysGlobalRealEstate.com
Thanks for reading! If you'd like to tell me what you think about this newsletter, or if you're thinking of buying or selling real estate, please do get in touch.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.