Crested Butte Real Estate Market Report YTD May 2015

Sales Volume numbers represent all Single Family Homes, Condos, Townhomes and Land sales in the North End of the Gunnison Valley, including Almont, CB South, Rural Crested Butte, Crested Butte, Mt. Crested Butte and Rural Mt. Crested Butte as shown in the Gunnison Country
Association of Realtors MLS. Information contained herein deemed reliable, but not guaranteed.
CHRIS KOPF
PREVIEWS® PROPERTY SPECIALIST
COLDWELL BANKER BIGHORN REALTY
cell: 970.209.5405
chriskopf@bighornrealty.com
www.chriskopf.com
CRESTED BUTTE REAL ESTATE MARKET REPORT
2015 YEAR TO DATE – THROUGH MAY
PREPARED BY CHRIS KOPF
YTD SOLD 
PROPERTIES
2013
2014
2015
2013
2014
2015
CONDO & TOWN HOME MEDIAN SALES PRICE
YTD TOTAL 
VOLUME
TOTAL $ VOLUME SOLD YTD

CHRIS KOPF
cell: 970.209.5405
www.chriskopf.com
Crested Butte Real Estate Market Report –
Year to Date through May 31, 2015
The Crested Butte Real Estate Market is Active poised for Summer
As the charts and numbers show the Year to Date (YTD) trends in the Crested
Butte Real Estate market up year over year and nearly identical to the results in
2013 YTD. There is a buzz in the air as many anticipate another strong Summer
season for visitors in town and real estate transactions that will follow.
Comparing the YTD results in 2015 we see that Total Number of Properties Sold
is up 28% over last year, Total Volume is up 21%. There has been a run at the
low-end of the market and a huge increase in lot sales (predominantly less than
½ acre lots in developed subdivisions) – also representing the lower end of the
land offerings as buyers put a stake in the ground with anticipation of building
their home in the near future. The belief is that the majority of this activity is
lead by locals who are seeing inventories of homes below $600,000 vanishing.
There is a lack of long-term rentals – either due to conversion to short-term
rentals or more renters (nobody knows), but a good problem to have. Gone are
the stories of families forced to leave the valley due to foreclosures and a lack of
work. For an economy built on tourism, and real estate construction/property
management – these are healthy times for the Crested Butte Community.
YTD Total $ Volume
of Properties Sold
YTD Total Number
of Properties Sold
Month 2011 2012 2013 2014 2015
JAN $4,216,000 $13,923,750 $8,751,700 $5,773,686 $4,107,500
FEB $2,778,078 $4,545,898 $8,671,475 $7,026,450 $8,097,000
MAR $8,091,400 $6,600,200 $10,261,486 $3,803,000 $11,866,000
APR $9,259,925 $8,057,800 $17,126,400 $8,187,800 $9,568,000
MAY $8,391,150 $10,228,700 $8,539,400 $14,169,200 $16,698,161
Totals $32,736,553 $43,356,348 $53,350,461 $38,960,136 $50,336,661
YTD Monthly & Total $ Volume of Properties Sold

CHRIS KOPF
cell: 970.209.5405
www.chriskopf.com
Crested Butte Luxury Real Estate Market
- Homes Sold for $1 Million + Year to Date - There have been 11 Single Family homes and one high-end parcel Sold for $1M or
more YTD 2015, this is double the this same period in 2014, and 10 in 2013. The average sold price for these homes was $1.37M,
median price of $1.125M, and Average Price per sq. ft. was $378 (well below replacement cost). The total volume of $16.4M makes
up 33% of the overall market volume YTD. The distribution of these 12 homes sold was spread out – there were 4 in Crested Butte,
2 in Mt. Crested Butte, 1 in Skyland, and 6 in Rural Crested Butte.
Luxury Properties For Sale in the Crested Butte Area There are a total of 13
properties Listed for over $1M. 76 Single Family Homes for sale with
Asking Prices over $1M for a total Volume of $145M. There are two West
Wall Ski-in Ski-out condos listed at over $1M (and another just under $1M).
Floresta Ranch - $26M - Of note is phenomenal property known as the
"Floresta Townsite" located on the top of Kebler Pass only 20 minutes
(winter or summer) from(winter or summer) from Downtown Crested Butte. There is a 4,800 sq. ft. lodge and a 1,760 sq. ft. barn. This ranch is 1,650 scenic
acres surrounded by National Forest on three sides and the 5 acre Lilly lake and terrain that supports back-country skiing on
northern exposure. A price few could afford at $26M.
High-end Land – There are 32 parcels of land listed for over $1M. Of these the majority are in Mt. Crested Butte in the Prospect
Subdivision – offering Ski-in / Ski-out lots. There are also numerous home sites offering 2+ miles of private fishing at both The
Reserve on the East River and Wilder on the Taylor. There is also a luxury home site listing in East River Ranches that has a unique
riverfront home site on the East River with 1.5 Miles of fishing access and located only 4 miles from downtown Crested Butte.
Year
Total #
Luxury
Homes Sold
$ Volume
Luxury
Homes Sold
Avg. Price Per
Sq. Ft
YTD 2011 4 $8,170,000 $378
YTD 2012 5 $10,350,000 $378
YTD 2013 10 $14,903,000 $384
YTD 2014 6 $8,770,000 $394
YTD 2015 12 $16,445,000 $378
2015 Luxury
Properties $1M+ Sold
Total Sold by
Category
Average
Sold Price
Total Asking
Price by
Category
Average
Asking
Price
Total Original
Price by
Category
Average
Original
Price
%
Difference
Original
Price vs.
Sold Price
%
Difference
Asking Price
vs. Sold
Price
Average
Price
Per Sq.
Foot
Count of #
Properties
Sold
Total All Sales $18,145,000 $1,395,769 $19,714,000 $1,516,462 20,629,900 $1,586,915 -12.05% -7.96% 13
Condos & Townhomes None Sold 0
Single Family Homes $16,445,000 $1,370,417 $17,964,000 $1,497,000 18,879,900 $1,573,325 -12.90% -8.46% $378 12
Mt. Crested Butte $2,570,000 $1,285,000 $2,750,000 $1,375,000 3,225,000 $1,612,500 -20.31% -6.55% $276 2
Mt. CB Single Family Homes $2,570,000 $1,285,000 $2,750,000 $1,375,000 2,995,000 $1,497,500 -14.19% -6.55% $276 2
Crested Butte Single Family Homes $5,150,000 $1,287,500 $5,515,000 $1,378,750 5,709,900 $1,427,475 -9.81% -6.62% $559 4
Skyland Single Family Homes $1,000,000 $1,000,000 $1,069,000 $1,069,000 1,035,000 $1,035,000 -3.38% -6.45% $233 1
Land/Lots $1,700,000 $1,700,000 $1,750,000 $1,750,000 $1,500,000 $1,500,000 13.33% -2.86% 1

CHRIS KOPF
cell: 970.209.5405
www.chriskopf.com
Averages(for(Single(Family(Homes((&(Condo(prices(Starting(to(Rise(
Single Family (SF) homes – Comparing YTD 2013 results to prior years we see
that the price per sq. ft. for Single Family homes has risen about 10% from $302 to
$332 per sq. ft. Looking at the details in the tables you will see these prices per sq.
ft. vary based on the area – as example Downtown Crested Butte shows $423, Mt.
Crested Butte $296, and CB South $224 as averages per sq. ft.
Condos and Townhomes The Average Price per sq. ft. for Condos and
Townhomes was $223 compared to $253 for the same period in 2013.
What Real Estate is Selling in the Crested Butte area? Given the inventory and
price points of Condos and Townhomes this category represents the most
transactions (58), with Single Family homes making up the second largest count
(26). As the table shows the Luxury Single Family Homes Sold over $1M
represents 23% of the dollar volume in our market, and Land or Lots represents
only 5% of the Volume and 15% of the total transactions sold YTD.
2015 YTD - Category
$ Volume of
Properties Sold
% of Total
Count of #
Properties
Sold
% of Total
Total All Sales $50,336,661 127
Condos & Townhomes $12,204,161 24% 47 37%
Single Family Homes $28,732,000 57% 36 28%
Mt. Crested Butte $12,996,000 26% 40 31%
Mt. CB Single Family Homes $4,382,000 9% 6 5%
Crested Butte Single Family Homes $10,097,000 20% 12 9%
Skyland Single Family Homes $1,535,000 3% 2 2%
CB South Single Family Homes $2,597,500 5% 6 5%
Almont $2,335,000 5% 2 2%
Land/Lots $9,400,500 19% 44 35%
SF Homes Sold > $1M $16,445,000 33% 12 9%
How Long Does it Take a Property to Sell?
DAYS ON
MARKET
COMPARISON
SOLD
PROPERTIES
YTD AVERAGE
DAYS ON
MARKET (DOM)
FOR SALE
PROPERTIES
YTD AVERAGE
DAYS ON
MARKET (DOM)
YTD 2011 328 397
YTD 2012 428 468
YTD 2013 298 470
YTD 2014 329 504
YTD 2015 329 515
Single Family Home"
Average Price Per Sq. Ft.
Three things to remember about price per sq. ft. – 1) It is an interesting metric to compare “similar” homes, but it is impacted
by the mix of what is sold. 2) The more transactions - the better the data. 3) A small home on a highly desirable piece of land will
skew the numbers.

CHRIS KOPF
cell: 970.209.5405
www.chriskopf.com
Trends show Prices for Single Family Homes Rise and
Condos & Townhomes flat
Single Family (SF) homes – Comparing Year to Date
(YTD) results from 2015 to prior years we see that the
Median Price for Single Family homes has fallen from
$572,750 to $520,000 (same as in 2013) but the Average
SF Home price has risen slightly from $754,000 to
$796,000. This may be a result of the sample set – as
there were only 26 Single Family Homes Sold YTD in
2014 compared with a larger sample set of 46 YTD in
2015. Interesting as well in the Crested Butte area – there
are new homes sold - sitting next to 30 year old homes
that have not been updated. This is the reason to reach
out to a quality Crested Butte Real Estate Agent for help
understanding the values in the market and specific
properties.
Also of note is that the delta from Asking Price to Selling
Price for Single Family homes has dropped from 8.75%
to 6.2% in the past 3 years.
Condos & Townhomes – The volume for Condos and
Town homes is down 47 transactions YTD in 2015 vs. 57 & 58 in the 2 previous years). The Median
Price for Condos and Townhomes has dropped when compared to the same period in 2014 ($195,000)
but is the same as 2013 at $183,500. The Average Price was $223,500 compared with $254,000 in the
2014. As previously mentioned price per sq. ft. is also lower – again likely due to the mix of what sold.
Crested Butte Land Sold
While inventories have been dropping for finished homes – the activity in the Land/Lots category has
shot up – the transactions nearly tripled from 2014. As the table shows there have been 44 parcels Sold
YTD compared with 15 in 2014, and 24 in 2013. for the same period. 25 of these home sites were
purchased for under $100,000. Nine home sites were sold for $495,000and up. Three parcels were 35
acres, including another primo riverfront lot at beautiful Wilder on the Taylor which sold for $1.7M.
Condo Median
Sales Price
Single Family Home"
Median Sales Price
Condo Average
Sales Price
Single Family Home"
Average Sales Price
Land / Lots Sold Count % of Total
2010 3 14%
2011 11 12%
2012 29 26%
2013 24 15%
2014 15 10%
2015 44 26%
Land Sold YTD "
and Comparing Previous Years

CHRIS KOPF
cell: 970.209.5405
www.chriskopf.com
The detail below represents the past three years data by category. Interesting note for both Buyers and Sellers: after 3 years of price decline, most properties are priced to the Market and offer
great value, evidence by % Difference Original Price vs. Sold Price and the % Difference Asking Price vs. Sold Price by Category, on average 7.39% for all property types.
2015 YTD Totals
Total Sold
by Category
Average
Sold Price
Total Asking
Price by
Category
Average
Asking
Price
Total Original
Price by
Category
Average
Original
Price
% Difference
Original Price
vs. Sold Price
% Difference
Asking Price
vs. Sold Price
Average
Price Per
Sq. Foot
Count of #
Properties
Sold
Total All Sales $50,336,661 396,352 $54,352,989 427,976 56,778,100 447,072 -11.34% -7.39% 127
Condos & Townhomes $12,204,161 259,663 $12,909,889 274,678 12,973,200 276,026 -5.93% -5.47% $222 47
Single Family Homes $28,732,000 798,111 $30,851,300 856,981 32,231,700 895,325 -10.86% -6.87% $332 36
Mt. Crested Butte $12,996,000 324,900 $14,265,789 356,645 14,346,800 358,670 -9.42% -8.90% 40
Mt. CB Single Family Homes $4,382,000 730,333 $4,665,500 777,583 5,039,000 839,833 -13.04% -6.08% $296 6
Crested Butte Single Family Homes $10,097,000 841,417 $10,756,000 896,333 11,045,900 920,492 -8.59% -6.13% $423 12
Skyland Single Family Homes $1,535,000 767,500 $1,618,000 809,000 1,734,000 867,000 -11.48% -5.13% $252 2
CB South Single Family Homes $2,597,500 432,917 $2,732,900 455,483 2,767,900 461,317 -6.16% -4.95% $224 6
Almont $2,335,000 1,167,500 $2,400,000 1,200,000 2,145,000 1,072,500 8.86% -2.71% 2
Land/Lots $9,400,500 213,648 $10,591,800 240,723 9,817,300 223,120 -4.25% -11.25% 44
SF Homes Sold > $1M $16,445,000 1,370,417 $17,964,000 1,497,000 18,879,900 1,573,325 -12.90% -8.46% $378 12
2014 YTD Totals
Total Sold
by Category
Average
Sold Price
Total Asking
Price by
Category
Average
Asking
Price
Total Original
Price by
Category
Average
Original
Price
% Difference
Original Price
vs. Sold Price
% Difference
Asking Price
vs. Sold Price
Average
Price Per
Sq. Foot
Count of #
Properties
Sold
Total All Sales $38,960,136 393,537 $41,596,949 420,171 43,800,975 442,434 -11.05% -6.34% 99
Mt. Crested Butte $18,176,550 356,403 $19,683,149 385,944 18,381,600 360,424 -1.12% -7.65% 51
Crested Butte Single Family Homes $7,222,500 1,031,786 $7,533,000 1,076,143 7,629,000 1,089,857 -5.33% -4.12% $435 7
Skyland Single Family Homes $1,925,000 1,925,000 $1,950,000 1,950,000 1,950,000 1,950,000 -1.28% -1.28% $403 1
CB South Single Family Homes $1,685,000 421,250 $1,768,000 442,000 1,797,000 449,250 -6.23% -4.69% $192 4
Almont $294,000 98,000 $374,000 124,667 848,900 282,967 -65.37% -21.39% 3
Land/Lots $1,944,500 129,633 $2,115,000 141,000 3,817,900 254,527 -49.07% -8.06% 15
SF Homes Sold > $1M $8,770,000 1,461,667 $9,369,000 1,561,500 9,614,000 1,602,333 -8.78% -6.39% $394 6
2013 YTD Totals
Total Sold
by Category
Average
Sold Price
Total Asking
Price by
Category
Average
Asking
Price
Total Original
Price by
Category
Average
Original
Price
% Difference
Original Price
vs. Sold Price
% Difference
Asking Price
vs. Sold Price
Average
Price Per
Sq. Foot
Count of #
Properties
Sold
Total All Sales $53,350,461 420,082 $58,744,603 462,556 63,997,150 503,915 -16.64% -9.18% 127
Mt. Crested Butte $17,499,412 349,988 $19,202,100 384,042 19,679,000 393,580 -11.08% -8.87% 50
Crested Butte Single Family Homes $7,116,005 790,667 $7,506,900 834,100 7,921,400 880,156 -10.17% -5.21% $390 9
Skyland Single Family Homes $3,597,000 899,250 $3,834,000 958,500 4,564,000 1,141,000 -21.19% -6.18% $312 4
CB South Single Family Homes $647,900 323,950 $664,800 332,400 719,900 359,950 -10.00% -2.54% $150 2
Almont $105,550 105,550 $91,000 91,000 94,900 94,900 11.22% 15.99% 1
Land/Lots $4,195,986 174,833 $4,942,300 205,929 4,937,350 205,723 -15.02% -15.10% 24
SF Homes Sold > $1M $14,903,000 1,490,300 $16,719,000 1,671,900 17,649,000 1,764,900 -15.56% -10.86% $384 10

CHRIS KOPF
cell: 970.209.5405
www.chriskopf.com
!
Crested Butte Summer is here (Finally) – The snow in May made up
for the dry March and snowpack got back to 100%. Spring run-off is in
full force as water levels are high in the rivers and steams. Kebler &
Cottonwood Passes are open, the golf course at The Club at Crested
Butte is in great condition and the wildflowers are popping up
everywhere.
There are lots of activities and events planned again this summer and the
TA (Travel & Tourism) is promoting the great beginner and advanced
mountain biking available in our valley. They are touting our 750 Miles
of great trails from Hartman Rocks to the epic 401. Evidently mountain
bikers span many socio-demographic segments from young to old and
affluent. The Enduro World Series mountain bike series stop in Crested
Butte is a feather in our cap and should illuminate this marketing effort.
I hope you are making plans to gather with family and friends,
enjoy the cool weather, hiking, fishing, biking, golf, Alpenglow
concerts, the Arts, Tour de Forks… or just relax, get an ice cream
cone and sit on a bench on Elk Avenue and make a new friend.
How can I help you? This Crested Butte Real Estate Market report and
the level of detail is representative of what you can expect from me as
your Real Estate Agent. If you are interested in finding out what your
existing property is worth, or considering me to represent you as a
Buyer, I would appreciate the opportunity to earn your business (or that
of a friend you think I could help).
To see featured properties or search the MLS – visit
www.chriskopf.com. Contact me at: (970) 209-5405, or
Thanks,
Under Contract At the end of May 2015 there were 46 properties
Under Contract (nearly double from 1 year ago) representing a total
volume of $25.3M. Of the 46 properties Under Contract 14 are
Condos/Townhomes, 15 are Single Family homes and 17 are lots
(nearly triple from 1 year ago).
Active Listings There are 578 properties For Sale in our market
(down 75 from 1 year ago) representing $414M. Inventory has
shrunk since the same period in 2013 when we had 750 properties
for Sale.
All Properties
Under Contract
Total Under
Contract by
Asking Price
Average
Under
Contract by
Asking
Price
Count of #
Properties
Under
Contract
Total All Properties Under Contract $25,362,299 $551,354 46
Condos & Townhomes $5,408,899 $386,350 14
Single Family Homes $17,059,000 $1,137,267 15
Mt. Crested Butte $6,647,499 $511,346 13
Mt. CB Single Family Homes $1,544,000 $772,000 2
Crested Butte Single Family Homes $3,665,000 $916,250 4
Skyland Single Family Homes $2,995,000 $2,995,000 1
CB South Single Family Homes $2,156,000 $539,000 4
Land/Lots $2,894,400 $170,259 17
SF Homes > $1M $12,264,000 $1,752,000 7
All Current Listings
Total Current
Listing Price
by Category
Average
Listing Price
Count of #
Properties on
the Market
Total All Sales $414,138,055 $716,502 578
Condos & Townhomes $56,315,350 $360,996 156
Single Family Homes $192,393,249 $1,326,850 145
Mt. Crested Butte $149,239,599 $746,198 200
Mt. CB Single Family Homes $62,090,250 $1,592,058 39
Crested Butte Single Family Homes $19,173,600 $1,198,350 16
Skyland Single Family Homes $16,687,999 $1,390,667 12
CB South Single Family Homes $8,014,900 $616,531 13
Almont $13,252,300 $294,496 45
Land/Lots $165,429,456 $597,218 277
SF Homes > $1M $145,253,849 $1,911,235 76
35 Acre SF Homes $36,639,000 $1,744,714 21

Crested Butte Real Estate Market Report YTD May 2015

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Crested Butte Real Estate Market Report YTD May 2015