Birdseye View | Market Snapshot | Third Quarter
Prices and sales have been steady this year compared to previous periods. The average selling price per square foot continues to rise, with the Town of Crested Butte peaking at $580/ square foot. Even if this sounds high locally, our prices are half of our neighbors in Aspen and Telluride.
Our inventory of homes continues to be absorbed, with a diminishing three-month supply of condos on the resort mountain and a four-month supply in CB South. Land is selling well also, with 107 sales so far this year representing a 40% increase over this time last year.
Vail Resorts has recently completed the purchase of Crested Butte Mountain Resort. This big news is expected to bring a world class level of expertise and service to our ski area. And from a real estate perspective, it could mean increased confidence and investment in our unique mountain valley, as has been the case for other resorts where Vail has invested.
A healthy selling volume of $52 million is currently pending for closing, and Bluebird represents nearly a quarter of the total for the north end of the valley. As the fastest growing brokerage in the region, Bluebird is driven by exceptional marketing and successful results for our clients with the most productive associates in the market.