Price Reductions Drive High End Real Estate Market Activity in Crested Butte

Written by Channing Boucher on September 1st, 2010

Hello from Crested Butte!

The real estate market in Crested Butte is picking up momentum as we head into September and the “Fall Colors Season”. It appears the high-end real estate market is back in vogue as heavily discounted luxury homes, townhomes and condos around the valley are attracting saavy investors. The current deal making is made up of mostly luxury properties.

41 homes and condos have gone under contract in recent days. This represents almost half of ALL the deals we realized from January 1 to date and $31 million in pending sales volume. During the first 8 months of 2010 we sold 87 homes and condos representing $42 million in volume.

Interestingly, the average and median sales price among these current contracts is up dramatically compared to the deal making we experienced during the first 8 months of 2010.
(See graph below)

During the first 8 months of 2009, we realized 76 sales and $44 million in volume. So far in 2010 we’ve done more deals by comparison and roughly the same sales volume. It appears that the recent sales rush will drive our averages and total sales volume past 2009′s performance.

2010 Real Estate Performance

Days on Market

Home & Condo Sales

Average Sold Price

Median Sold Price

Sales Volume

January 1 to
August 31, 2010

256

87

$477,000

$325,000

$42 million

August 31 – Forward
Under Contract

TBD

41 under contract

$736,000

$440,000

$31 million

 

A few examples of recent Crested Butte luxury real estate market activity:

A new luxury home located in Mt. Crested Butte’s Overlook neighborhood just sold for $1,325,000. It was originally listed for $2.6 million.

A 5200 sft. home located on 1 acre in the Elk Run subdivision just sold for $912,000. Original list price in 2008 was $1,795,000.

A luxury home with acreage on Ridge Road located above Crested Butte South is under contract. List price: $2.995 million. It was originally listed for almost $5 million.

A four bedroom Wildhorse at Prospect home is under contract. List price: $995,000. It was originally listed in 2008 for over $1.6 million.

And, a luxury home on Forest Lane at Skyland, originally listed at over $1.8 million sold this summer for $1.1 million.

Thanks for reading today!

Channing Boucher
Broker Associate
Benson Sotheby’s International Realty

Contact Channing at 970-596-3228 or via his website.
Channing’s Blog: The Crested Butte Real Estate Letter

Benson Sotheby’s International Realty | 433 Sixth Street | Crested Butte | CO | 81224

 

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Price Reduced $100K on 324 Whiterock Avenue in Town of Crested Butte

Written by Channing Boucher on August 30th, 2010



Originally Listed for $995,000. Now Offered for $895,000!
Arguably the best trees and landscaping around, this in-town sanctuary is conveniently located on the free skier shuttle route, 2 blocks from Elk Avenue dining, shopping and fun. 

View this Property’s Website

View this Property’s 360 Virtual Tour

324 Whiterock was built by Norton Designworks in 2000.

Featuring a flexible floor plan, this property will accommodate year-round family living or week long ski trip visits!

Enjoy protected views of Mt. Crested Butte from the front porch and Gibson’s Ridge from the upstairs deck, great southern light in the bedrooms and living areas and the incredible landscaping and mature trees of this in-town sanctuary.

The 1342 sft unfinished basement currently serves as an office, laundry and storage but will easily convert to a great theatre/media room or additional spaces for guests.

The 2-bedroom accessory dwelling earns a handsome monthly income and the main house performs very well as a vacation rental. (110 rental days in 2009)

Furnishings are negotiable! 

A must see if you want low maintenance living and the comfort and convenience of living in the town of Crested Butte!

Now Offered for $895,000
2614 TOTAL SFT.
Main House:
3 bedrooms plus Office/Loft
2.5 bathrooms
Basement: 1342 sft – partially finished

Details:

Accessory Unit:
2 Bedroom/1 Bath
Alley access – private

 

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Huge Price Reduction on 4 Bedroom Chateaux Condo in Crested Butte

Written by Channing Boucher on August 22nd, 2010

Act now! This is an excellent opportunity to own a nicely updated 4 bedroom, 3 bathroom ski condo at the Chateaux Condominiums. Enjoy the panoramic view of the ski slopes from this rare corner unit!

Was $445,000 Now Offered at $247,500

Easy access to the remodeled clubhouse, pool and hot tub. Walk to the ski slopes or jump onto the convenient and free ski shuttle to the base area. Compare this 4 bedroom unit to any other 4 bedroom condo offering in Mt. Crested Butte and you will see the value!

209B Chateaux Condominiums – 4 Bedroom Ski Condo
Was $445,000 Now Offered for $247,500

View 360 Virtual Tour of Chateaux 209B

View This Property’s Web Site

Exclusively Offered by
Channing Boucher of Benson Sotheby’s International Realty
970-596-3228

 

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Big Price Reduction on Ruths Road Parcel in the Town of Crested Butte

Written by Channing Boucher on August 17th, 2010

Visit the Property’s Web Page

Google Satellite Map

View 360 Tour

Located on a quiet, dead-end cul-de-sac in the west end of the Town of Crested Butte aka Kapushion Annexation, 11 Ruth’s Road is .19 acres big and features great morning and evening light. Previously listed for $1,100,000, this one-of-a-kind “in-town” Crested Butte parcel is now offered at $750,000.

This oversized lot has incredible views to the west of Mt. Crested Butte and enjoys the awesome Ruth’s Road streetscape.

Out the back, you will enjoy stunning views of the Lower Loop, Peanut Lake and Paradise Divide.

Fully approved home plans are included.

This one-of-a-kind parcel backs to open space – the Crested Butte Land Trust – and the groomed nordic ski and walking track.

Elk Avenue dining, shopping and the free skier shuttle stop are only a few blocks away.

Contact Agent
Channing Boucher
Click Here
or call
970-596-3228

 

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Special Offer: Crested Butte Airport Community Parcel for Sale

Written by Channing Boucher on August 16th, 2010
Crested Butte Airport Community Land for Sale

Crested Butte Airport Community Land for Sale

Newly Listed by Channing Boucher of Benson Sotheby’s International Realty: Lot 75 at the Avion Club.

Lot 75 at the Avion Club in Crested Butte Colorado is 1.69 acres big and features a flat building site, unobstructed mountain and valley views in all directions and great solar exposure.

The private airstrip abuts the southern edge of Lot 75 creating instant access for you and your plane.

The Avion Club is a private fly-in, fly-out community at Buckhorn Ranch. Each parcel enjoys access and use of the 4400 ft. newly paved airstrip. Your mountain home can include your own detached private hangar for your plane!

Exclusively offered at $200,000.  This is a very deep price discount on a premium airport community parcel.
See webpage for details and more photos.

Buckhorn Ranch amenities include excellent access to hiking and biking trails, cross country skiing, fishing, and more. Enjoy Colorado sunsets from your deck and beautiful morning light from this perfect parcel.

The commanding mountains of the Upper East River Valley tower over Buckhorn Ranch at Crested Butte.

Details on Lot 75 at the Avion Club in Crested Butte:

1.69 acre parcel
Private Runway Access
Level Building Site
Southern Exposure
Open Spaces All Around
5 minutes to the town of Crested Butte
10 minutes to ski resort
Instant access to the National Forest
Low HOA dues
Offered at $200,000.

 

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Price Just Reduced on 4 Bedroom Home in Crested Butte

Written by Channing Boucher on August 15th, 2010

Take advantage of this opportunity. Originally listed for $895,000.

728 Whiterock is now offered for $819,000. View this property online.

The home is move-in ready but at this low price, the opportunity exists for a value-add remodel.

Enjoy a great location close to school, town parks, free skier shuttle and all that Crested Butte has to offer.

Southern light fills the master suite, kitchen and dining areas and the mountain views from the private decks are awesome.

This home lives big. It will accommodate a local family or function perfectly as a Crested Butte 2nd home retreat!

The large fenced yard featues private alley access and the mature trees offer privacy.

The first floor attached apartment featues its own kitchen, bathroom, bedroom, living room and private access to the backyard patio.

View this property’s 360 Virtual Tour.

2598 sft. of living.
4 bedrooms plus bonus media room
3.5 bathrooms
Includes 940 sft. of Garage space
Private alley access
Big fenced yard
South-facing Kitchen, Dining and Master Suite
Open floor plan
Apartment with full kitchen, bath, living room too!

 

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Just Sold – 2 Ridge Lane in Mt Crested Butte

Written by Channing Boucher on August 12th, 2010
Benson Sotheby’s agent Channing Boucher has successfully brokered another luxury home sale in Crested Butte.

Channing represented the purchaser of 2 Ridge Lane. The 4 bedroom, 3650 sft. custom home sold for $1,325,000.

This extraordinary mountain home is located on a quiet cul-de-sac in the prestigious Overlook neighborhood of Mt Crested Butte.  A grand foyer and sweeping stairwell anchor this two-level home. The home offers absolutely stunning views of the ski resort, Whetstone Mountain and Mt. Emmons. And, the National Forest and Crested Butte’s Upper Loop trail system is literally steps away from the front door of this amazing home.

Sold by Channing Boucher - 2 Ridge Lane - Mt. Crested Butte

2 Ridge Lane in Mt Crested Butte

Visit Channing Boucher’s Crested Butte Real Estate Guide and his Gallery of Sold Properties here.

 

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New 360 Virtual Tour for #13 Homestead at Eagle Ridge Ranch near Gunnison Co

Written by Channing Boucher on August 11th, 2010

View the 360 Virtual Tour of #13 Homestead at Eagle Ridge Ranch located near Gunnison Colorado in the Ohio Creek Valley.

Visit Channing Boucher’s Crested Butte Real Estate Guide to learn more about this incredible offering.

 

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Big Price Reduction on Fenceline Property in Crested Butte South

Written by Channing Boucher on August 5th, 2010

Take advantage of this $70K price reduction!  This beauty of a home and property is now listed at $178 per square foot! You COULD NOT buy this location and build this house for that price per foot.

210 Huckeby in Crested Butte South

Price Reduced $70,000!

210 Huckeby is an awesome family home with a great floorplan located on 1.04 acres in Crested Butte South – this is 3 adjoining Crested Butte South parcels!

Enjoy 3814 sq ft. of prime fenceline living and unobstructed mountain, valley and meadow views for miles. This is a very private location off the end of Huckeby Drive.

The large master suite features picture windows and beautiful protected mountain views.

2 more bedrooms plus a big bonus room and a bonus office/study located over the 1000 sft. detached garage.

3 bathrooms

Paved driveway with turnouts. Landscaped, fenced and lovingly maintained throughout.

3814 total sft ($178/sft)
998 sft heated garage

View this property’s web page and 360 virtual tour here.

Offered for $679,000

Thanks for visiting today,

Channing Boucher
Benson Sotheby’s International Realty
970-596-3228
Visit My Crested Butte Real Estate Guide

 

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Crested Butte Mountain Resort Reports Some Good News

Written by Channing Boucher on August 4th, 2010

Crested Butte Mountain Resort just sent out a mid-summer report filled with some interesting news. On the real estate sales front 2010 has been a much better year than 2009.  Ten of their Lodge at Mountaineer Square listings and another four re-sales have sold or are under contract in 2010.  Their sales department told me that numerous properties are receiving multiple offers and some listings being sold for full price or more.

The resort’s summer visitor business has picked up considerably as well. CBMR is experiencing the best summer business levels in the history of the company with every revenue center and operational department performing at or ahead of budget.  Their hotel occupancy for July will be up 25% over last summer and lift ridership is up 21%.

The addition of Mini Golf to the Adventure Park has exceeded everyone’s expectations with the Adventure Park showing a 60% growth in revenue.  More than 1,500 rounds of mini golf were played during the month of July. Camp CB for Kids is also growing rapidly as they’ve posted a 40% increase in business to date.   The real buzz in the community is about the mountain biking at CBMR.  The Mountain Sports department and the Mountain Operations teams have done an incredible job of providing a fantastic biking and hiking experience on the mountain for their guests. All of this combined with more special events, weddings and group and conference business has created a new level of energy and vitality at CBMR. 

For the upcoming 2010-2011 Winter ski season, CBMR reports that it’s group sales team has already booked twice the amount of group business compared to this time last year and we are currently up 62% in room reservations on the books in our hotels.

And, airline bookings are already pacing ahead of last year and flights now include new direct jet service from Houston on Continental along with two flights daily on American Airlines from Dallas and two flights daily on United from Denver.  

Another indicator that Crested Butte is heading toward a great winter? Season pass sales are pacing ahead of the last five years.  CBMR lowered the price significantly on their 10-day card and College Season Pass and introduced an Anniversary Pass good for 4 days of skiing for just $99 in celebration of the Crested Butte resort’s 50th anniversary.

Good news indeed. Thanks for reading day. We’ll see you in Crested Butte sometime soon!

Channing Boucher
Benson Sotheby’s International Realty
Visit My Crested Butte Real Estate Guide

 

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Summer Art Events in Crested Butte Shaping Up

Written by Channing Boucher on May 19th, 2010

Art Events Schedule for Summer/Fall 2010

The visual arts are a permanent part of the Gunnison-Crested Butte, Colorado’s unique vibe. The communities have long celebrated creativity during three major art festivals set against the beauty of the Colorado Rockies: 38th annual Crested Butte Arts Festival, 37th annual Gunnison Art in the Park, and 22nd annual The People’s Fair. There is no admission charge for the festivals or gallery walk evenings held once a month.

Two well-respected arts centers—Gunnison Arts Center and Crested Butte Center for the Arts—also bring a wealth of cultural offerings and art exhibits to the communities throughout the year. Visit www.GunnisonArtsCenter.org and www.CrestedButteArts.org.

Schedule of Art Events

May 7, June 4               First Friday Gallery Crawl & Music, Gunnison

June 24                         ArtWalk Evening, Crested Butte

July 2                            First Friday Gallery Crawl & Music, Gunnison

July 11                          AWE Fest – Artists of the West Elks Festival, Elk Avenue, Crested Butte

July 16 – 18                  Rocky Mountain Plein Air Painters National Show, Crested Butte

July 25                          37th Annual Gunnison Art in the Park, Legion Park

July 29                          ArtWalk Evening, Crested Butte

July 31 – August 1        38th Annual Crested Butte Arts Festival, Elk Avenue

August 6                       First Friday Gallery Crawl & Music, Gunnison

August 15                     AWE Fest – Artists of the West Elks Festival, Elk Avenue, Crested Butte

August 21                     High Octane Arts & Crafts Festival, Legion Park, Gunnison

August 26                     ArtWalk Evening, Crested Butte

September 3                 First Friday Gallery Crawl & Music, Gunnison

September 4 – 5           22nd Annual The People’s Fair, Elk Avenue, Crested Butte

September 23               ArtWalk Evening, Crested Butte

October 1                     First Friday Gallery Crawl & Music, Gunnison

First Friday Gallery Crawl & Music, Gunnison, First Fridays All Year

To kick off each month right, enjoy great art in Gunnison at the First Friday Gallery Crawl & Music from 5 – 7 p.m. Refreshments, on-site artists and great socializing are highlights. Call Gunnison Gallery at (970) 641-6111 for participating businesses and more information.

ArtWalk Evenings, Crested Butte, June 24, July 29, August 26 & September 23

To wrap up the month in style, from June to September, Crested Butte’s ArtWalk Evenings bring art enthusiasts on a tour of the galleries on the last Thursday evening from 5 – 8 p.m. Light refreshments, music and on-site artists are featured at many of the locations. For a list of participating galleries, go to www.awearts.org.  

AWE Fest, Crested Butte July 11 & August 15

The Artists of the West Elks will hold two AWE Fests this summer, showcasing members work in conjunction with the Crested Butte Farmers’ Market on two Sundays. The festivals will be held on Elk Avenue from 9 a.m. – 3 p.m. For more information, go to www.awearts.org.

Rocky Mountain Plein Air Painters National Show, July 16 – 18

Approximately 50 outdoor landscape painters will be in the Crested Butte area for approximately 10 days to create works of art and participate in a large gallery show at Oh-Be-Joyful Gallery on July 16 – 18. There will be various events for the public to interact with the artists. For information, contact Crested Butte’s Oh-Be-Joyful Gallery, (970) 349-5936 or visit www.rmpap.org/.  

37th Annual Gunnison Art in the Park, July 25

Gunnison’s Legion Park serves as the backdrop for this annual art extravaganza organized by the local chapter of American Association of University Women (AAUW). On July 25, from 9 a.m. – 4 p.m., approximately 60 artists will exhibit and sell their creations during this juried event. Live entertainment, activities for kids, and food and beverage booths also are part of the fun. 

Proceeds from the event benefit AAUW’s local scholarship program for nontraditional students attending Western State College in Gunnison; AAUW’s national education foundation; and a local project that is selected annually. For more information, contact Carol Bennett at (970) 641-4230.

38th Annual Crested Butte Arts Festival, July 31 – August 1 

The Crested Butte Arts Festival (CBAF) is one of the biggest weekends of the summer, drawing world-class artists from all 50 states and several international exhibitors.  The festival recently was ranked the 35th best fine art and fine craft show in the country by the “Arts Fair Sourcebook,” the definitive guide to art festivals, and is listed as one of the Harris List’s top five fine art and craft shows in Colorado. 

Open-air booths line the three-block center of Crested Butte’s National Historic District from 10 a.m. – 5 p.m. both days, featuring 185 artists who are selected through a very competitive jury process. New this year is a culinary arts demonstration tent. Returning favorites are an art auction, a hands-on “Art Alley” for kids ages 2 – 12, demonstration tent with exhibiting artists demonstrating their craft, culinary court, beer and wine pavilion, and live entertainment. For more information and a list of exhibitors and performing artists as the festival draws near, call (970) 349-1184 or visitwww.crestedbutteartsfestival.com.

High Octane Arts & Crafts Festival, Gunnison, August 21 

The Gunnison Country Chamber of Commerce invites arts and crafts lovers to experience the High Octane Arts & Crafts Festival being held in conjunction with the Gunnison Car Show on Aug. 21. The festival showcases arts and crafts by approximately 80 artisans from around the region and will be held from 9 a.m. – 4 p.m. in Legion Park, located across the street from Jorgensen Park where the car show will be held. Great food and fun for the whole family are on tap. Call (970) 641-1501 or visit www.gunnisonchamber.com.

22nd Annual The People’s Fair, September 4 – 5

The Saturday and Sunday of Labor Day weekend marks the return of The People’s Fair in downtown Crested Butte. Hundreds of locals and visitors will stroll Elk Avenue on Sept. 4 and 5 from 9 a.m. to 4 p.m. to take in this homespun cultural experience and to soak in the last of the high-country summer. The People’s Fair features an eclectic mix of booths showcasing regional arts and crafts, collectibles and antiques, and preserved foods from local gardens as well as live music, a tasty fair food, and nonprofit organization booths selling books, CDs, baked goods and more. The festival coincides with the annual Labor Day Sidewalk Sale on Elk Avenue, making the day a shopper’s delight! 

Since 1988, The People’s Fair has been made possible by the volunteer efforts of the artist members of The Paragon Gallery, a cooperatively owned arts and crafts gallery in downtown Crested Butte, located at 132 Elk Ave. For more information, contact The Paragon Gallery at (970) 349-6484.

Visitor Information & Personalized Vacation Packages

To find out more about Gunnison-Crested Butte events and attractions or to book personalized vacation packages, call the Gunnison-Crested Butte Tourism Association’s official reservations center at (800) 814-8893 or visit www.GunnisonCrestedButte.com. During the summer and fall, air access to the Gunnison-Crested Butte Regional Airport is provided by United Airlines.

About Gunnison-Crested Butte, Colorado

Gunnison-Crested Butte is nestled among almost two million acres of pristine wilderness in southwest Colorado. Winter sports enthusiasts know the area for its world-class alpine skiing and snowboarding at Crested Butte Mountain Resort, snowmobiling, cross-country skiing, snowshoeing and ice fishing. Gunnison-Crested Butte is also a haven for outdoor summer activities. In the warmer months, visitors can choose from recreational activities such as hiking, climbing, mountain biking, boating, whitewater rafting, kayaking, fly-fishing, camping and horseback riding. Year-round visitors enjoy distinctive restaurants, unique shops and stimulating cultural opportunities, and have a wide range of lodging options — from rustic inns to guest cabins and bed-and-breakfasts to full-service resort hotels. 

Gunnison, county seat and a real western town, is home to the Gunnison-Crested Butte Regional Airport, Gunnison Whitewater Park, Gunnison Valley Observatory, Pioneer Museum and Western State College, which offers bachelor’s and master’s degrees in liberal arts and sciences and pre-professional fields. Both Crested Butte and Gunnison have thriving historic central business districts packed with shopping and dining opportunities. 

Recognized as the “Official Wildflower Capital of Colorado” by the Colorado Legislature and one of the National Trust for Historic Preservation’s “Dozen Distinctive Destinations” in 2008, Crested Butteis 28 miles from Gunnison and the site of rich mining, ranching and skiing heritage and home to the Crested Butte Mountain Heritage Museum and Mountain Bike Hall of Fame. Only three miles up the road is the resort village of Mt. Crested Butte, home to the ski area, an active base area, the area’s conference center, and outstanding hiking and biking trails. 

In Gunnison County, visitors will find the Curecanti National Recreation Area, where dinosaur fossils were recently discovered; the Blue Mesa Reservoir, Colorado’s largest body of water and home to the largest Kokanee salmon fishery in the United States; and The Black Canyon of the Gunnison, one of our country’s newest national parks. Gunnison County includes the quaint and historic towns of Pitkin, Gothic, Tin Cup, Marble, Powderhorn, Almont and Crystal, plus the better-known communities of Gunnison, Crested Butte and Mt. Crested Butte. Gunnison County is part of the West Elk Loop and Silver Thread Scenic & Historic Byways.

 

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New Listing at Golf Villas at the Crested Butte Country Club

Written by Channing Boucher on May 24th, 2010

Newly listed by Channing Boucher and Benson Sotheby’s International Realty in Crested Butte Colorado!

View this property’s web page

View this property’s 360 virtual tour

The perfect mountain getaway at a very compelling price. 10 St. Andrews Circle is a well appointed, well maintained luxury condo located at Skyland’s Golf Villas neighborhood and the Crested Butte Country Club.

Relax on either of the two decks and take in the stunning mountain views after a round of golf.

Take advantage of the low maintenance, easy access to golf, tennis, fishing and world class skiing at Mt Crested Butte a few minutes away.

Bask in the Colorado sunshine pouring in from the south facing windows and decks.

This home will serve you and your family’s Crested Butte vacations for years to come.

Offered for $399,000

Details:
1254 sft.
2 bedrooms
2.5 bathrooms
240 sft. heated garage
Updated kitchen, bedrooms and baths
Hardwood floors and tile
Fireplace
Vaulted ceilings
Beautiful landscaping
Great location, easy access to Town, the National Forest, the golf course, the country club and ski resort!

 

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New Listing in Crested Butte South on Shavano

Written by Channing Boucher on May 27th, 2010

View this property’s web site >>

Jump on this opportunity. Located on Shavano in Crested Butte South, this property screams “upside”.

The main house is 4 bedrooms, features an open floor plan, covered porches and sits on a big half acre, south facing parcel.

The detached 2-car, 720 sft. garage features a 720 sft., unfinished one bedroom apartment upstairs.

The plumbing and electric are roughed in and the framing is completed. Finish off the apartment and create instant value!

Enjoy the quiet neighborhood from this desirable location minutes to world class skiing at Crested Butte Mountain Resort.

The National Forest, biking and fishing are close.

Offered for $359,000

Details:
Built in 1996
.50 acre parcel
4 bedrooms
2 bathrooms
1731 sft.
Detached 720 sft. garage with upstairs roughed-in apartment at 720 sft Vaulted ceilings
Mature landscaping and garden.
Great location, quick access to ski resort, Town of Crested Butte, National Forest, CB South trails, fishing

 

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Coveted West End Location in Crested Butte: 28 Gothic Avenue

Written by Channing Boucher on June 2nd, 2010

Newly Listed in the Town of Crested Butte

View this Property for Sale on the Web

View the 360 Virtual Tour

28 Gothic is located in the quiet, mature west-end of historic Crested Butte only two blocks from Elk Avenue shopping, dining and the ski shuttle. The nordic ski trail system and the Lower Loop are only a few blocks away as well.

This Craftsman-style home was built in 1977. Recently, a very extensive renovation and remodel to the entire home occurred delivering this property to luxurious standards. The home features spacious living and dining areas, distressed wide-plank pine floors, big south-facing decks and a landscaped backyard and additional access via the private alley.

The large chef’s kitchen includes Pogoloff custom cabinets, Viking and Bosch appliances and gorgeous, granite slab counters.

The master suite features great views of Mt. Crested Butte and receives warm morning light through the south-facing windows. The junior suites enjoy unobstructed views of the Paradise Divide mountains and Gothic Mtn.

The large 3rd floor bonus loft includes a finished bathroom – great for guests and kids!

The attached garage keeps the vehicles dry and the custom boot room will keep the ski and bike gear where it belongs. The fireplace is grandfathered…enjoy a real wood-burning fire apre-ski style.

Square Footage Breakout:

Gross Living Area: 2715 sft
Basement: 324 sft
Attached Garage:  400 sft
Detached Garage: 150 sft
Covered Porch: 90 sft
3rd Story (loft): 311 sft

For a tour please contact:

Channing Boucher
970-596-3228

 

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Big Price Reduction at Hidden Mine Ranch

Written by Channing Boucher on June 8th, 2010

Originally listed for $549,000 Now Available at $309,000

View This Property’s Web Page

One of the nicest Hidden Mine Ranch lots available, and yet priced well below all others! See it to believe it, this one is special. Lot 12 features an incredible building site nestled in your private aspen forest. The spectacular views are complimented by the Colorado sunshine. Enjoy sunny meadows and fields of wildflowers.

Hidden Mine Ranch offers all of the amenities one would expect from a special ranch community located so close to a world class winter/summer resort like Crested Butte.

Take advantage of alpine and nordic skiing, biking, snowmobiling, hiking, climbing peaks, fishing…you name it, you can do it.

Hidden Mine Ranch includes 500 acres of common space with private access to National Forest Land and Whetstone Mountain.

All of this and Hidden Mine Ranch is only two miles to the Town of Crested Butte.

 

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Crested Butte Restaurant Businesses for Sale

Written by Channing Boucher on June 13th, 2010

Three of Crested Butte’s most successful restaurant businesses are for sale. Listed by Channing Boucher of Benson Sotheby’s International Realty, these profitable, established Crested Butte ventures offer superior locations and excellent reputations. View Channing’s web site for complete listing information. View Web Site 

The LoBar

 The LoBar
(view web page)
Offered at $395,000 

This is a very special opportunity to acquire a highly profitable restaurant and lounge venture in a very cool place to live and work. The LoBar is located in the heart of the commercial district in downtown Crested Butte at 303 Elk Avenue. 

The restaurant’s menu is eclectic and includes many popular sushi and Japanese influenced dishes. 

The LoBar transforms itself nightly into Crested Butte’s social hot spot. featuring great lounge and bar seating and private dining areas. The business is ideally suited for it’s market, enjoying a loyal installed base of local customers as well as a prominent national reputation as the place to patronize when in Crested Butte. 

The financial results reflect a business in command of its market. Purchase prices includes extensive leasehold improvements plus all of the fixtures, furnishings and equipment. Also included is seller training and consulting, marketing collateral, brand, menus and trade secrets.  Business summary and financials provided upon request and execution of a NDA. 

The Timberline

The Timberline Restaurant
(view web page)
Offered at $499,000 

The Timberline Restaurant is located in the heart of downtown Crested Butte on the corner of Second Street and Elk Avenue. Built in 2000, the location offers seating for 44 diners and 12 bar patrons downstairs in the bistro. The upstairs main dining room can comfortably seat 68 people, with elevator access available. The sunny sidewalk patio offers seating for 15, for larger groups the creekside deck has seating for 45 with views of Mount Crested Butte and Paradise Divide. 

During the winter of 2010 the restaurant added a bakery to offer baked goods and breakfast items. Purchase price includes extensive leasehold improvements plus all of the fixtures, furnishings and equipment. Also included is seller training and consulting, marketing collateral, brand, menus and trade secrets.  Business summary and financials provided upon request and execution of a NDA.

LeBosquet and Why Cook? Deli

LeBosquet and Why Cook? Deli
(view web page)
Offered for $ 1,595,000 (real estate included) 

This opportunity is a rare find for the serious restaurateur or business person looking to capitalize on the fastest growing Colorado ski and summer resort market Crested Butte, Colorado. Imagine owning an award-winning restaurant and upscale bar in an intimate and contemporary mountain setting with a professionally designed kitchen. 

Additionally, this offering includes a separate gourmet catering and take-out deli business immediately adjacent to the restaurant. This business shares the same kitchen and storage infrastructure. The sellers are retiring from a successful 35 year restaurant career in Crested Butte. The recent economic surge is due to the highly publicized 2004 sale of Crested Butte Mountain Resort to the owner-operators of Okemo and Mt. Sunapee ski areas in Vermont. 

Located in a busy shopping and services district – The Majestic Plaza – of Crested Butte. Crested Butte Center for the Arts is across the street, the Majestic Theatre, The Daily, Clarks Market and ski resort shuttle stop are closeby. Large PUD parking lot, ADA accessible and bonus 700 sq. ft exclusive use patio for outdoor seating included. 

Real Estate Included
Unit 141 and Unit 142
Majestic Plaza
(Price Includes Real Estate and Both Businesses, FF&E, Inventory)

 

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Lakefront Land at Larkspur in Crested Butte Colorado

Written by Channing Boucher on June 14th, 2010

View this property’s web site

Arguably the best lot at Larkspur. This premier Crested Butte home site is .23 acres big and features incredible views of the surrounding mountains of Crested Butte Colorado. Incredibly, this parcel sits right on Larkspur Lake – one of only a few Larkspur community parcels with this distinction. The location receives great morning sunrises AND western sunsets over the Paradise Divide Mountains above Crested Butte. The large single family home site features protected, unobstructed views of the Paradise Divide, Gothic, Mt. Crested Butte, Whetstone Mountain and Mt. Emmons!

The Larkspur community offers private tennis and a kids playground, lamp-lit streets and homes with great southwestern Colorado charm.

This lot is a must-see if you are considering building your dream home in the mountains.

KEY FEATURES:

Lakefront parcel
.23+ acres
Adjacent to the Crested Butte Country Club and Skyland neighborhoods.
Commanding, Protected, Unobstructed Panoramas
Great amenities including private tennis courts!
3 minutes to downtown Crested Butte.

Offered for $319,900 by Channing Boucher of Benson Sotheby’s International Realty

 

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Customized IDX solution revolutionizes Channing Boucher’s website, simplifying the online home search for potential buyers.

Written by Channing Boucher on June 15th, 2010

EUGENE, OR – June 14, 2010 – (RealEstateRama) — Crested Butte, Colorado real estate broker Channing Boucher has teamed with IDX, Inc. to create an easy-to-use professional website, changing the way he conducts business online. The efficient IDX Broker software syncs Boucher’s website directly with Gunnison Country MLS (GCMLS) listings, to display a comprehensive real estate listings database from the convenience of the Benson Sotheby’s International website. Combining GCMLS listings with the properties Boucher represents gives home seekers in and around Crested Butte the most in depth and reliable online property search around.

With the revolutionary technology IDX Broker software brings to Boucher’s site, the entire online home search has changed. Potential buyers can scan thousands of listings to find their dream home, or they can create and save a customized search to display homes with certain features and traits. Boucher’s clients have the advantage of utilizing the Advanced search tool, which lets them enact parameters to find properties of certain sizes, with particular zoning regulations and in specific subdivisions. Finding the perfect home online has never been easier for Crested Butte home seekers!

Boucher himself gains vast control over the design and functionality of his website through a personalized administrative login page. Here, he can edit CSS and global wrappers to develop a signature look and professional branding throughout each page of his website. Managing clients, analyzing market trends and receiving updates from the GCMLS all come automatically to Boucher’s personal page, which he can check at home or from his iPhone or iPad. IDXBroker software has forever changed the way this Colorado broker does business by making him more accessible to clients and potential buyers around Crested Butte.

About Channing Boucher
“Today, I consider myself very fortunate to be in the real estate business in Crested Butte. Working with people that share a similar affinity for this place gives me tremendous satisfaction. I like to think I specialize in helping folks with the process of investing in their Crested Butte lifestyles. The real estate transaction is only part of it.” Boucher graduated from the University of Washington and is currently a Broker Associate for Benson Sotheby’s International Realty.

About IDX, Inc. 
Based in Eugene, Oregon, IDX Inc. is nationally known as a leading provider of real estate search applications. IDX, Inc. actively manages over $1 trillion worth of active listings data from over 350 Multiple Listings Services (MLS). IDX Broker is IDX, Inc.’s principle real estate software utility and myAgent IDX is its principle mobile application available for the iPhone. The easy to manage and customizable software helps real estate professionals display home listing data from their multiple listing service (MLS) on their individual and/or office websites. For more information on all the services provided by IDX, Inc. please visit www.idxbroker.com.

 

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New Listing from Channing Boucher and Sotheby’s International Realty in Crested Butte

Written by Channing Boucher on June 22nd, 2010

  Custom builder’s home for sale at Buckhorn Ranch in Crested Butte Colorado

Located just 5 minutes from downtown Crested Butte, 696 S. Avion was finished in 2008 and reflects the high quality and attention to detail of Crested Butte builder and home designer Ben Somrak.

From the reclaimed wood trusses to the exquisite iron work to the high end lighting and sound package, this mountain home is arguably one of the best newly constructed homes available on the market.

Featuring 3 bedrooms, 3 bathrooms, a media room and an oversized heated 2-car garage, this property will accommodate family and friends for years to come.

Offered Furnished at $900,000

View 360 Tour

 696 South Avion Property Specifications List

New Construction, recently completed in 2009

.14 Acre Lot

3 Bedrooms, 2.5 Bath

Media Room with 18 speakers

Oversized 680 Sq. Ft.  Heated 2 Car Garage with epoxy floor with two drains

Efficient design minimizes winter maintenance

Covered front entrance, encased in natural stone with stamped concrete walkways

Exterior siding consists of natural cedar, stucco, natural stone, and metal

Exterior themed to showcase rustic heritage blended with modern construction

Metal roof

360 Degree views of Upper East River Valley

Highly energy efficient, low heating and electric bills

Radiant in floor heat throughout

Etched, stained, and heated concrete first floor

Distressed saddle hickory flooring in great room, master, and kitchen

Stairs consist of hickory treads with Italian tile risers

Lower level laundry room/mudroom/garage entry with pocket door to conceal

2 gas fireplaces (great room and master) with glass faces to simulate an open fire place

Plush carpet in media room

Custom built gourmet kitchen with stainless appliances and double oven

High volume storage in kitchen cabinets

Gas cooktop with stainless range hood

Natural gas outlet on deck for gas grill

Low-E Double Pane windows by Semco

Covered timber framed deck off of great room

Hand forged, iron wrought railings

Natural native stone fireplace

Hand forged, custom light fixtures from Hubbarton

Flat Panel LCD above soaker tub in master bathroom

Two head, oversized steam shower with bench in Master Bath

Custom Bathroom vanities throughout

Knotty alder trim and high-end doors throughout, sealed with no-VOC sealants

Vaulted great room includes kitchen, dining and living areas

Reclaimed Elm Trusses from Michigan in the great room and media room

Reclaimed beams and ceiling adorn hallways and media room

Butcher Block island with black granite bar

Rainforest marble countertops in kitchen and master bath with his and her sinks

Full home audio/surround sound with volume control throughout house, including covered deck

Auxiliary port on island for media

Heat recovery ventilator

Flat panel TV in kitchen above refrigerator

Walk in closet in master bedroom with additional locking “owner’s closet”

Wall mounted swiveling LCD in media room with connections to computer

“Blu-motion” no-slam vanity and kitchen drawers throughout

Insulated roof up to R-77

Complete exterior insulation ensures zero thermal breaks

Illuminated key shelf in entry

Illuminated stairs throughout

Separate toilet room in master bathroom

Powder room

Monopoint wall spotlights

Highly efficient Lochnivar gas boiler/sidearm tank with 9 zones of radiant heat

Includes complete furniture package

Built in A/V shelves and beverage fridge in media room

Pantry in kitchen with switched opening

Private, end of the road location with protected views

Front yard is landscaped with native grasses, reclaimed fence, river rocks, several trees, boulders, and lilac bushes

Air switch garbage disposal

Hidden trash can with foot pedestal opener

High end kitchen hardware

Domestic Hot water return throughout home provides instant hot water

Linen closet in master bathroom

Country approved exterior down lighting

Mechanical room under stairs provides storage

 

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Just Sold in Crested Butte Co – 702 Forest Lane

Written by Channing Boucher on June 27th, 2010

Channing Boucher of Benson Sotheby’s International Realty in Crested Butte Colorado just sold 702 Forest Lane. The property is one of the original homes built in this exclusive and very private neighborhood above the Crested Butte Country Club.

This home tastefully combines Bavarian-influenced design features with Old South accents and charm. Floor plan highlights include a a big open kitchen and breakfast nook with great southern light and easy access to the large stone patio. The massive living/dining room features stunning vaulted celings supported by gorgeous arched beams with iron accents. The hardwood floors include trim detail not to be overlooked. The 1st floor master suite basks in southern light filtered by a mature forest of aspen. The master bath features a steam shower and a big, deep soaking tub. The large upstairs landing, and bathrooms feature great Colorado light via the ceiling’s skylights and each bedroom enjoys aspen and mountain views!

The home sold for $1,100,000 and marks the 3rd million dollar+ property sold by Channing and Benson Sotheby’s in the last 6 months.

 

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New Luxury Home Listing from Channing Boucher and Benson Sotheby’s

Written by Channing Boucher on June 29th, 2010

Benson Sotheby’s International Realty in Crested Butte Colorado is pleased to announce a new listing in Crested Butte. Newly listed is 873 Skyland Drive, an incredible luxury log home located on prestigious Lake Grant above the Crested Butte Country Club. The property is co-listed by Cathy Benson and Channing Boucher.

Every window and the covered porches feature stunning and protected panoramic views of the surrounding mountains, the valley and 20-acre Lake Grant out the front door.

The home’s entry spills into a spectacular living, dining and kitchen area that features an incredible vaulted ceiling supported by a handsome log beam truss system.

Display your art and collectibles from the gorgeous art niches and generous wall spaces throughout the home.

The log and beam detail and custom ironwork throughout the home is unparalleled in quality and design.

The massive walk out basement/1st floor features gorgeous tile and wood flooring, a gracious wet bar, a wine cellar and a gas fireplace. Walk out to the large patio and drink in the views of the golf course below and the 12,000 ft. mountains to the south and west.

Special features include an amazing whole house premium sound and intercom system and a heated driveway and front entry. This home will entertain your guests and family in true Crested Butte style and grace – for years to come!

Access to Lake Grant is just across the driveway. Enjoy private boating and trophy trout fishing on this gem of a lake. The national forest access is literally steps away and the Crested Butte Country Club complex and the Robert Trent Jones Jr. golf course is a 2 minute drive down the hill.

The Town of Crested Butte is 5 minutes away and Crested Butte Mountain Resort skiing is about 10 minutes away.

Note: A buyer allowance is built into the offer price for the home’s appliance package, lighting fixtures and carpeting.  Pick your own finishes now, enjoy the property for years to come.

7135 sft. of living.
780 sft. garage
1347 sft. covered porches
.56 acre parcel
5 bedrooms
4.5 bathrooms

Exclusively Offered for $3,990,000

View this fine property online at Channing Boucher’s Crested Butte Real Estate Guide

 

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Happy Independence Day from Crested Butte Colorado

Written by Channing Boucher on June 30th, 2010

View Crested Butte Real Estate Insider Issue #6 Online Here

The summer is in full swing in Crested Butte. Many special events and activities are on the calendar for the 4th of July and the weather has been incredible.

Crested Butte Mountain Resort (CBMR) has been busy with improvements. The ski company announced recently they will be renovating the Treasury Building to add more seating and new restrooms. The popular Trailheads Children’s Museum has moved across the walkway to the Outpost Building. 

On the ski hill, CBMR is glading different areas to open up some new ski lines and most importantly, the Paradise Warming Hut sewer is being fixed. If you have ever waited in the lift line at Paradise you know what this means! Hooray!

CBMR has also added three new mountain bike trails, a bike skills park and they now offer lessons! Just like skier visits, the resort’s goal this summer is to increase it’s “rider days” from 3500 to 5000 bikers!

On the ever important airline front, it was recently announced that United Airlines will continue operating daily jet service to Gunnison (from Denver) 2-3 times a day. American Airlines will offer twice daily jet service from Dallas for the upcoming winter ski season and Continental Airlines is expected to offer daily jet service to Gunnison from Houston in mid-December. And, the big rumor flying around town? There will be a direct flight from San Francisco to Gunnison this winter! The official announcement will be made soon.

And, since this is a real estate newsletter,  here is some interesting news.

The Tipple House, located high up on the ski slope in the Prospect neighborhood, is under contract. The home is listed by CBMR for almost $4.5 million. This pending sale represents renewed action in the “above $3 million” segment of the marketplace. The last sale of a Crested Butte luxury home priced above $3 million occurred in June of 2007.

Year-to-date we’ve realized 62 residential sales (homes and condos) and $28 million in volume. There are an additional 21 homes and condos under contract set to close soon. ($14 million worth of real estate).

Upcoming Crested Butte Colorado Events:

Crested Butte Fourth of July Celebrations – Learn More

Bearfoot Bluegrass Camp for Kids July 6-8, 2010 – Learn More

Bluegrass in Paradise Music Festival – July 9-10, 2010 – Learn More

Crested Butte Wildflower Festival – July 12-18, 2010 – Learn More

Crested Butte Food and Wine Festival – July 22-24, 2010 – Learn More

Crested Butte Arts Festival – July 31-August 1, 2010 – Learn More

Thanks for reading today!
Benson Sotheby’s International Realty

Channing Boucher
Broker Associate

Contact Channing at 970-596-3228 or via his website.
Channing’s Blog: The Crested Butte Real Estate Letter

Benson Sotheby’s International Realty | 433 Sixth Street | Crested Butte | CO | 81224

 

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Just Sold in Crested Butte Colorado

Written by Channing Boucher on July 1st, 2010

Channing Boucher of Benson Sotheby’s International Realty in Crested Butte Colorado just sold Lot 4 at the Slate River Estates neighborhood in rural Crested Butte. Located just 2 minutes from downtown Crested Butte, the 1.7 acre parcel was the original Slate River Estates developer’s personal parcel. The homesite features commanding views in all directions including an unobstructed view of Mt Crested Butte and the Paradise Divide mountains.

The parcel was listed by Prudential Realty in Crested Butte and it sold for $300,000.

 

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Crested Butte land deal preserves almost 400 acres of open space

Written by Channing Boucher on July 2nd, 2010

Via the Denver Post today:

Almost 400 acres of scenic open space will be permanently set aside for public use in Crested Butte because of a deal worked out this week.

The property north of Gothic Road between the town and Mt. Crested Butte soon will be available for winter and summer recreation, elk habitat and wetlands while providing spectacular views of the town and mountain, according to the Trust for Public Land, which brokered the deal.

Officials called it the largest land-conservation transaction in the town’s history.

The Kochevar family has owned the land since 1905.

The public immediately acquires 166 acres, paid for with $2 million in lottery proceeds from Great Outdoors Colorado. The town added another $1 million from its open-space fund. Eve Kochevar retains 70 acres through a conservation easement that allows public trails across her property.

Local and national land trusts and the town will raise the money to buy the rest of the property. 

Borrowed from Joey Bunch, The Denver Post

 

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New Listing in Crested Butte – Kapushion Parcel on the Fenceline

Written by Channing Boucher on July 7th, 2010

 

View this property for sale at the Crested Butte Real Estate Guide

Butte Avenue beauty.

Lot 24 in the Kapushion Annexation is one of only two Kapushion parcels available on the market.

Lot 24 offers a coveted northwest location on the fenceline with the Crested Butte Land Trust land.

Enjoy absolutely stunning vistas in all directions from this oversized parcel. The land is bigger than most town of Crested Butte lots at .23 acres.

Ski out the back door, over the fence and onto groomed nordic ski tracks in the winter.

Watch for the elk that graze the Land Trust parcel in the late summer and fall.

Elk Avenue dining, shopping and the free skier shuttle stop are only a few blocks away.

Offered by Channing Boucher of Benson Sothebys International Realty in Crested Butte Colorado.
$875,000

 

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Continental Airlines Offers New Houston-Gunnison-Crested Butte Winter Flight

Written by Channing Boucher on July 8th, 2010

 

Continental Airlines to Serve Crested Butte

Continental Airlines will offer new winter service between its Houston hub and Gunnison Crested Butte Regional Airport in Colorado from December 16, 2010 to April 3, 2011.  

This is excellent news for our resort community. Many of our visitors in both winter and summer are from the Houston Texas region. A direct flight makes getting to the ski slopes in Crested Butte this winter a snap. Gunnison is located a quick 30 miles from Crested Butte.

“The thought of a snowy mountain escape is especially appealing after a long hot summer,” says Jim Ferea, Continental Airlines’ managing director scheduling. “Our new Houston to Gunnison flight joins our growing list of ski destinations in Colorado that are easily reached through convenient connections at our Houston hub.”

The new service will depart Houston Intercontinental Airport (IAH) at 11:40 a.m. and arrive Gunnison Crested Butte Regional Airport (GUC) at 1:25 p.m. local time. The return flight will depart Gunnison at 2:15 p.m. and arrive in Houston at 5:35 p.m.

Continental’s flight will operate daily except between January 4 and February 16, 2011, when the service will operate on Tuesdays, Thursdays, Saturdays and Sundays. “We’ve had great success with service to Houston in the past, and it continues to be our number one requested city for added air service,” says Daren Cole, vice president of marketing and sales for Crested Butte Mountain Resort.

Thanks for visiting today

Channing Boucher
Visit My Crested Butte Real Estate Guide

 

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U.S. Senate Passes Serious Financial Overhaul Bill

Written by Channing Boucher on July 18th, 2010

Congress passed the Federal Financial Reform bill yesterday afternoon, marking the stiffest restrictions implemented on banks and Wall Street since the Great Depression. 

The legislation passed largely along party lines with a vote of 60-39. 

According to the Wall Street Journal, once implemented, this measure will touch all areas of the financial markets, affecting how consumers obtain credit cards and mortgages, dictating how the government dismantles failing financial firms and directing the federal regulators’ focus on potential flashpoints in the economy. 

For a full Wall Street Journal article, click here.   

Thanks for visiting,

Channing Boucher
Benson Sotheby’s International Realty
Visit the Crested Butte Real Estate Guide

 

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Price Reduced on Crested Butte Luxury Home

Written by Channing Boucher on July 21st, 2010

Reduced $95,000. Now offered at $1,900,000.

Visit this exceptional property’s web site

Located just 4 Blocks from Downtown Crested Butte, at the end of 2nd Avenue, the views from every room at 127 Butte Avenue are stunning.

Featuring 2nd story living, 127 Butte Avenue offers the perfect floor plan for this location and lifestyle.

Enjoy 5 bedrooms, 3 full and 1 1/2 bathrooms and a detached accessory set up as a back office/studio with a 1/2 bath.

The gorgeous vaulted ceilings in the main living room feature hand-hewn, custom scissor trusses. Other features include a rock fireplace, a wrought iron chandelier and French doors that lead to the large second story deck.

The second living room at the southern end of the home is perfect for an office, beds or a study.

Both the main living room and deck showcase stunning, protected views of Mt. Crested Butte and the Slate River Wetlands open space, Teocalli, Whiterock, and Gothic Mountains.

The home’s master bedroom includes tall ceilings, dramatic views, double doors to the awesome flagstone patio and a backyard that includes a garden and back gate to the groomed nordic ski trail that wraps itself around Crested Butte’s coveted Kapushion Annexation.

The kitchen features alder cabinets, concrete counter tops, a apron sink, Wolfe gas range, Bosch appliances & a beautiful custom wood bar.

The large dining area features a copper sink, a wet bar, glass uppers and a wine rack & mini-Fridge.

Thanks for visiting today,

Channing Boucher
Benson Sotheby’s International Realty
970-596-3228
Visit the Crested Butte Real Estate Guide Online

 

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It Sure Feels Like the Bottom

Written by Channing Boucher on July 26th, 2010

Around the state of Colorado and here in Crested Butte, home sales – including luxury homes – are on the rise. In the Denver metro area, luxury home sales reached the highest point in nearly two years this June, demonstrating a steady improvement in the luxury home market. Sixty-seven homes sold for $1 million or more last month, up 3% from June 2010. Among the priciest pads sold last month in the Denver area was a six-bedroom, five-bathroom 9,207 square foot Denver home that sold for $3.95 million. According to the Denver Business Journal, this peak in sales can be attributed to super low mortgage rates and competitively priced homes.

Resort towns in Colorado are experiencing similar luxury market conditions. Towns like Telluride and Vail are reporting a serious uptick in luxury home sales. Telluride’s multi-million dollar market has returned. So far this year in Telluride, there have been eight home sales of more than $4 million, including three sales between $8 million and $10.1 million. Vail luxury real estate prices are the lowest since 2004 and buyers have noticed. Year-to-date sales are almost double what they were in 2009.

The Steamboat Springs real estate market saw 29 single-family homes sell in the first quarter of 2010 with an average sale price of $730,000. In Summit County the average home price in the first quarter of this year was $740,000. The average home price in Telluride during this same period was $3.33 million, topping Vail’s average sales price of $1.95 million.

In Crested Butte, luxury home prices starting dropping in early 2008. Many would-be buyers have been sitting on the sidelines, watching prices slip and waiting . Their patience appears to be paying off. Investors are entering the market and getting deals on luxury homes in the process.

Year to date, twenty-six Crested Butte-area homes have sold at an average price of $702,000 with 23% of these homes selling between $1.1 and $1.5 million. And, we have six more luxury properties currently under contract ranging in price from $990,000 to almost $4.5 million. The last sale of a Crested Butte luxury home priced over $3 million occurred in June of 2007 and we now have two homes priced at or above $3 million under contract.

Consider this: Back in 2008, forty Crested Butte-area single family homes sold at an average price of $1,085,000 and seventeen properties traded between $1 and $3 million. Twelve of these sold at $1.5 million or higher.

Last year, fifty single family homes sold at an average price of $865,000. Fourteen of these homes closed above $1 million and six properties sold at values above $2 million.

This represents a $365,000 drop in average sales prices over the last two years. For some, it’s starting to look like the market has bottomed out.

Upcoming Crested Butte Colorado Events:

Crested Butte Arts Festival – July 31-August 1, 2010 – Learn More

Thanks for reading today!

Channing Boucher
Broker Associate
Benson Sotheby’s International Realty

Contact Channing at 970-596-3228 or via his website.
Channing’s Blog: The Crested Butte Real Estate Letter

Benson Sotheby’s International Realty | 433 Sixth Street | Crested Butte | CO | 81224

 

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38th Annual Crested Butte Arts Festival This Weekend

Written by Channing Boucher on July 29th, 2010

One of the most popular summer event weekends for Crested Butte is upon us. 

The 38th Annual Crested Butte Arts Festival, happening this coming weekend from Saturday, July 31 to Sunday, Aug. 1, will draw top artists from around the United States and there will be several international exhibitors.

The festival was recently ranked the 35th best fine art and fine craft show in the country by the Arts Fair Sourcebook, a definitive guide to art festivals, and is listed as one of the Harris List’s top five fine art and craft shows in Colorado.

Open-air booths line Elk Avenue of Crested Butte’s National Historic District from 10 a.m. – 5 p.m. both days, featuring 185 artists who are selected through a very competitive jury process. 

New this year is a culinary arts demonstration tent on both days of the festival, and dinners featuring top chefs from Denver and Longmont on July 30 and 31.

In addition to the culinary art demo tent, there will be 185 visual artist booths with ceramics, drawing and graphics, fiber, glass, jewelry, metal, mixed media, painting, photography, sculpture, wearable art and wood; Art Alley, a hands-on festival all its own for kids 2-12; artist demonstration tent; an art auction tent; a beer and wine pavilion; a culinary court; and the Ragged Mountain Entertainment Stage with magic, music and more.

For  more information and a list of exhibitors and performing artists, call 970-349-1184 or go to www.crestedbutteartsfestival.com.

Thanks for visiting today and enjoy the arts!

Channing Boucher
Visit My Crested Butte Real Estate Guide

 

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