Birdseye View | Market Snapshot
We are half way through an exciting year of big news, real estate sales and peak summer fun. Real estate has been buzzing with summer visitors contracting properties in record numbers. Adding to the normal selling season momentum, is the announcement that Crested Butte Mountain Resort will be selling to Vail Resorts this fall. This world class operator will bring a new level of expertise, efficiencies and amenities to the mountain, not to mention capital for maintenance and improvements.
The last time the resort changed hands, real estate sales and prices spiked, and we are starting to see the same signs. Sales have been robust this summer, with multiple offers on new listings, especially condominiums and homes priced under $1,000,000. This spring, over 40 residential lots sold in the Buckhorn Ranch subdivision, most under $200,000, in a one-time offering from the owner.
Inventory is being absorbed and prices are rising. Twenty-two homes are currently under contract with an average price of $943,000 in the north end of the valley. Thirty-three condominiums are pending, averaging $421,000 and thirty-one tracts of land with an average price of $375,000 are scheduled to close this summer.
Bluebird celebrated its first anniversary this spring, and the firm has quickly risen to become a market leader in the region. At this year’s midpoint, our associates earned substantial market share in listing inventory and became a leader in properties listed above $1 million. Bluebird also contracted over one fourth of all the properties in the Crested Butte vicinity.
The company welcomed three respected producers to our team: Jenny Knox, Corey Dwan and Dan Estey. We also enhanced our marketing capabilities with the addition of Parker LaDue, managing our marketing, advertising and design. Also, check out the debut of Bluebird Days magazine, with featured properties, an inspiring interview with Emma Coburn and beautiful cultural photography.