Million Dollar Home Sales Active

Posted on Friday, July 9th, 2010 at 4:40 pm.

Million Dollar Home Sales Active.  One of the main topics of discussion for Crested Butte realtors lately is that the luxury homes are selling as the market picks up.  Summer and fall are the height of Crested Butte’s selling season with a big surge of activity on the listing side for higher-end homes.  This year, the upper end of the valley is showing approximately 119 million dollar plus homes on the market.  Of these, about 51 have had strong price reductions, with one price reduction at $2,545,000! This is great news for luxury buyers. 

According to Gunnison Country Multiple Listing Service, the list prices for these high-end properties range from$1,050,000 to $6,999,000 (Taylor Crest – 6 bedroom/7 bath home in Skyland that was Mountain Living Magazine’s past “Home of the Year” and comes fully furnished down to the 2 vehicles in the garage).  The difference in price per square foot is amazing as well, ranging from $266 per square foot to a whopping $4,663 per square foot for a custom-built 2 bedroom/2 bath, 1500 sq. ft. guest home on 35 acres overlooking Peanut Lake just outside the city limits of Crested Butte. 

Over the last 2 years, approximately 20 homes have sold over the million dollar mark with a total sales volume of $31,085,000 according to the Gunnison MLS.  Of those, in 2009, the maximum sales price was $2,872,000 for a Faust Properties’ custom 5 bdrm/5 bath home in Overlook bordering forest service land which brought in close to a record price per square foot value of $676 during that time.   So far, for 2010, Crested Butte has seen 5 sales over a million dollars with 2 new properties having gone under contract in the last 2 weeks: CBMR’s Tipple House at Prospect (list $4,500,000 million+) and a bank-owned home at Smith Hill Ranches on 35 acres (list $3,000,000 million). 

It looks like Crested Butte real estate is seeing a new trend in luxury buyers.  The properties in highest demand are the custom-built homes with top-of-the-line appointments throughout, reclaimed timbers, custom stonework, combined with a bit of quirky and unique being a definite bonus.