Main Content

EP – 07 Jesse’s Signature Takes

Welcome to episode seven of Jesse’s Signature Takes. Today, I want to talk about the market and give you a little market update of what’s selling from Almont to Mount Crested Butte. A question I am often asked in the real estate industry is what is selling? And to be honest with you, every month is really different in our market, so I’m just going to cover what has happened since October 1st. We have seen 40 sales for a total of $28 million. The bulk of our sales are in residential, covering single-family homes, condos, and townhomes and we saw 27 sales there. Most of those actually fell in Mount Crested Butte, which is pretty typical for this time of year as people are kind of getting excited about ski season and wanting to have their condos and homes ready to rent or to use for Christmas time. For the residential sales that we had, they showed an average of 164 days on the market. Of these 27 listings, the average sales price was $915,000 and the average price per square foot was $455. The lowest sale was $203,000 for a two-bedroom, two-bath condo in Mount Crested Butte, and the highest sale was $3,260,000 for a single-family home on 35 acres that is walking distance to downtown Crested Butte. We’ve also seen 12 vacant land sales, and that was an average of 248,000. The lowest sale was a piece of land up in Tincup, which is about an hour and a half drive from Crested Butte, and that was $33,000 and the highest sale we saw was a vacant lot in downtown Crested Butte for $875,000. In this same area from Almont to Mount Crested Butte, we have 46 properties under contract for a total of $32 million. The average sales price of the 46 properties that we have under contract is $784,000 the lowest priced property that’s currently under contract is $190,000, and that’s a studio condo in the Skyland area. And the highest price that we currently have under contract is $4,499,000 and that’s a beautiful house just on the outside of town on 35 acres. The majority of these pending contracts are in Mount Crested Butte and CB South. Of these pending contracts, the average price per square foot is 462 we also, have the highest price per square foot at 1600. Properties right now are selling for about 95% of the asking price so there is some negotiating room on a lot of properties that we’re seeing on the market right now. I know I just covered all that information really quickly, so please, don’t hesitate to reach out to me if you have any questions.