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Crested Butte First Quarter Market Report

Crested Butte First Quarter Market Report

The first quarter of 2024 saw a steady real estate market throughout the busy ski season. Sold listings and sales volume of single-family homes, condos/townhomes, and luxury listings have increased, while land sales have decreased. I found the average sales price for single-family homes misleading, so I added the average price/square foot to help give a better idea of our market. Yes, single-family home sale prices have gone up, but to say overall prices have risen 57% is not the case (just higher-priced homes sold). That brings me to our luxury buyers; not only have I seen more higher-end homes sell, but many sell for cash.

Some markets are seeing a slowdown in sales due to higher interest rates; yet with so many of our buyers paying in cash, our market continues to be strong. Our list-to-sales price for homes is between 95%-98%. 

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