Quarter Report | Second Quarter 2016

B E N S O N S OT H E B Y ’S I N T E R N AT I O N A L R E A LT Y

QUARTER REPORTSecond Quarter 2016

3 Overall Market Update 8 Land Market

4 Single Family Market 10 Significant Sales

6 Area Map 11 Our Office Update

7 Condo and Townhome Market 12 Contact Us

Contents

2 | 401 Elk Avenue // 970.349.6653 QUARTER REPORTSECOND QUARTER 2016

QuiCk Hits

$77.6Total Sales Volume Through Q2-2016 in the Upper Valley

156Total TransactionsThrough Q2-2016 in the Upper Valley

18%Percentage Up of Sales Volume Through Q2-2016 in the Upper Valley

Million

The overall real estate market in Crested Butte and Gunnison continues to climb as we reach our peak summer selling season. Most of our overall sales volume gains are not because more properties are being sold but because properties are being sold at a higher average price then compared to previous years.

We have seen the average price of homes in the towns of Crested Butte and Mt. Crested Butte increase by over 50% compared to last year at this time. Condos and Townhomes have also steadily increased in value throughout our area.

The one segment of our market that has seen a dip in 2016 is the land market. It is an indication that many buyers would like to purchase a home or condo and enjoy the beauty of Crested Butte right away without having to go through the building process.

The summer selling season looks to be as busy as ever as currently there are 122 listings currently under contract with an asking price value of $42.7 million. Considering that Crested Butte is poised to have its busiest summer tourism season ever and that federal 10- and 30-year interest rates reached an all time low this week, our market should see an increase in sales volume and average price through all residential properties.

January to June 2015 2016 % ChangeAverage Price $410,708 $497,230 21.1%

Average Price per Square Foot n/a n/a n/a

Average Days on Market 317 289 -8.8%Highest Price $2,750,000 $3,300,000 20.0%Lowest Price $4,700 $2,500 -46.8%Number of Properties Sold 160 156 -2.5%% Sold Price to List Price 91.7% 95.0% 3.6%Total Dollar Volume Sold $65,713,361 $77,568,022 18.0%

All PropertiesUPPER VALLEY (Crested Butte, Mt. Crested Butte, Rural Crested Butte, CB South, Kebler Pass and Almont)

BensonSothebysRealty.com | 3QUARTER REPORTSECOND QUARTER 2016

overall Market update

4 | 401 Elk Avenue // 970.349.6653

January to June 2015 2016 % ChangeAverage Price $827,846 $1,287,763 55.6%

Average Price per Square Foot $426.07 $525.02 23.2%

Average Days on Market 354 210 -40.7%Highest Price $1,925,000 $2,389,398 24.1%Lowest Price $290,000 $730,000 151.7%Number of Properties Sold 13 11 -15.4%% Sold Price to List Price 94.2% 96.0% 1.9%Total Dollar Volume Sold $10,762,000 $14,165,398 31.6%

Single Family HomesCrested Butte

January to June 2015 2016 % ChangeAverage Price $718,714 $1,104,785 53.7%


Average Days on Market 381 309 -18.9%Highest Price $1,450,000 $2,250,000 55.2%Lowest Price $315,000 $324,000 2.9%Number of Properties Sold 7 10 42.9%% Sold Price to List Price 94.7% 94.8% 0.1%Total Dollar Volume Sold $5,031,000 $11,047,850 119.6%

Single Family HomesMt. Crested Butte

January to June 2015 2016 % ChangeAverage Price $1,206,964 $1,321,000 9.4%


Average Days on Market 321 364 13.4%Highest Price $2,750,000 $3,300,000 20.0%Lowest Price $240,000 $355,000 47.9%Number of Properties Sold 14 11 -21.4%% Sold Price to List Price 89.8% 94.2% 4.9%Total Dollar Volume Sold $16,897,500 $14,531,000 -14.0%

Single Family HomesRural Crested Butte

single FaMily Market

QUARTER REPORTSECOND QUARTER 2016

BensonSothebysRealty.com | 5

single FaMily Market



Average Days on Market 116 349 200.9%Highest Price $644,000 $730,000 13.4%Lowest Price $294,000 $410,000 39.5%Number of Properties Sold 9 7 -22.2%% Sold Price to List Price 95.4% 94.4% -1.0%Total Dollar Volume Sold $3,865,500 $4,128,500 6.8%

Single Family HomesCB South

January to June 2015 2016 % ChangeAverage Price $359,453 $349,651 -2.7%


Average Days on Market 248 174 -29.8%Highest Price $1,845,000 $670,000 -63.7%Lowest Price $43,500 $99,900 129.7%Number of Properties Sold 38 31 -18.4%% Sold Price to List Price 95.4% 95.8% 0.4%Total Dollar Volume Sold $13,659,220 $10,839,200 -20.6%

Single Family HomesRural Gunnison, Almont and Surrounding Areas



Average Days on Market 243 227 -6.6%Highest Price $382,500 $395,000 3.3%Lowest Price $95,075 $155,000 63.0%Number of Properties Sold 32 26 -18.8%% Sold Price to List Price 96.7% 97.3% 0.6%Total Dollar Volume Sold $7,582,475 $6,845,650 -9.7%

Single Family HomesCity of Gunnison


Legend1 Crested Butte

5

4

3

2 Mt. Crested Butte

Skyland - Golf

CB South

Gunnison

6 Almont

6

overview Map

6 | 401 Elk Avenue // 970.349.6653 QUARTER REPORTSECOND QUARTER 2016


Condo and townHoMe Market



Average Days on Market 198 164 -17.2%Highest Price $740,000 $965,000 30.4%Lowest Price $169,000 $170,000 0.6%Number of Properties Sold 7 5 -28.6%% Sold Price to List Price 96.8% 92.3% -4.6%Total Dollar Volume Sold $2,714,200 $2,506,500 -7.7%

Condos and TownhomesCrested Butte



Average Days on Market 354 282 -20.3%Highest Price $1,075,000 $950,000 -11.6%Lowest Price $47,500 $43,450 -8.5%Number of Properties Sold 31 58 87.1%% Sold Price to List Price 94.0% 96.9% 3.1%Total Dollar Volume Sold $8,264,000 $5,290,350 -36.0%

Condos and TownhomesMt. Crested Butte



Average Days on Market 267 402 50.6%Highest Price $772,661 $929,500 20.3%Lowest Price $33,000 $78,000 136.4%Number of Properties Sold 26 23 -11.5%% Sold Price to List Price 95.4% 96.0% 0.6%Total Dollar Volume Sold $5,197,661 $5,950,400 14.5%

Condos and TownhomesRural CB, CB South, Almont, Rural Gunnison and City of Gunnison

8 | 401 Elk Avenue // 970.349.6653


Average Price per Acre $2,506,349.21 $2,965,277.78 18.3%

Average Days on Market 383 342 -10.7%Highest Price $650,000 $1,025,000 57.7%Lowest Price $90,000 $405,000 350.0%Number of Properties Sold 7 7 0.0%% Sold Price to List Price 94.9% 95.7% 0.8%Total Dollar Volume Sold $3,158,000 $4,270,000 35.2%

Residential LotsCrested Butte


Average Price per Acre $309,820.28 $388,470.48 25.4%

Average Days on Market 661 367 -44.5%Highest Price $510,000 $495,000 -2.9%Lowest Price $125,000 $11,500 -90.8%Number of Properties Sold 8 7 -12.5%% Sold Price to List Price 81.6% 93.7% 14.8%Total Dollar Volume Sold $2,413,500 $1,460,649 -39.5%

Residential LotsMt. Crested Butte



Average Days on Market 315 291 -7.6%Highest Price $750,000 $275,000 -63.3%Lowest Price $25,000 $25,000 0.0%Number of Properties Sold 18 14 -22.2%% Sold Price to List Price 86.5% 85.7% -0.9%Total Dollar Volume Sold $2,580,000 $2,121,500 -17.8%

All Lots and LandRural Crested Butte

land Market


BensonSothebysRealty.com | 9

land Market


Average Price per Acre $161,098.13 $149,882.63 -7.0%

Average Days on Market 199 292 46.7%Highest Price $175,000 $160,000 -8.6%Lowest Price $30,000 $54,000 80.0%Number of Properties Sold 23 9 -60.9%% Sold Price to List Price 92.8% 89.6% -3.4%Total Dollar Volume Sold $1,379,000 $638,500 -53.7%

Residential LotsCB South



Average Days on Market 700 738 5.4%Highest Price $1,700,000 $175,000 -89.7%Lowest Price $30,000 $15,000 -50.0%Number of Properties Sold 11 19 72.7%% Sold Price to List Price 92.2% 85.1% -7.7%Total Dollar Volume Sold $3,681,500 $1,318,800 -64.2%

All Lots and LandRural Gunnison, Almont and Surrounding Areas



Average Days on Market 531 661 -50.7%Highest Price $1,700,000 $1,400,000 -60.4%Lowest Price $90,000 $20,000 -49.1%Number of Properties Sold 7 9 0.0%% Sold Price to List Price 90.0% 95.2% -1.6%Total Dollar Volume Sold $3,998,500 $2,866,900 -57.7%

All Parcels (11 or More Acres) Gunnison County


Listed by Benson Sotheby’s International RealtySold by Coldwell Banker Bighorn Realty

signiFiCant sales FroM January to June 2016

5 Moon Ridge Lane | RuRaL C.B. SoLd foR $2,389,398

606 ninth StReet | town of C.B. SoLd foR $2,389,398

Listed by Coldwell Banker Bighorn RealtySold by Keller Williams Realty

Listed by Coldwell Banker Bighorn RealtySold by Coldwell Banker Bighorn Realty

Listed by Benson Sotheby’s International Realty/Keller Williams RealtySold by Keller Williams Realty

Listed by Benson Sotheby’s International RealtySold by Benson Sotheby’s International Realty

29 Summit Road | mt. C.B. Sold foR $2,250,000

16 Walking deeR | mt. C.B. Sold foR $2,100,000

311 teoCalli avenue | toWn of C.B. Sold foR $1,785,000

Listed by Crested Butte Resort Real EstateSold by Coldwell Banker Bighorn Realty

710 Skyland dRive | mt. C.B. Sold foR $3,050,000


10 | 401 Elk Avenue // 970.349.6653

BenSon SotheBy’S inteRnational Realty StatS• Leads the real estate brokerage community in Crested Butte by $29 million in total

transaction volume in comparison to our closest competitor in 2016 through the second quarter.

• Our office currently has a 40% market share of sales volume in 2016 through the second quarter in the Crested Butte area.

• We have been involved in 114 transaction sides of the 312 total.

• We sold $33 million worth of our listings in 2016 through the second quarter. Our listings also sell for $120,000 more on average compared to our competitors.

• Our brokers were very successful in 2015.

• The top 3 brokers in sales volume in Crested Butte are from our office and 6 of the top 8 are from our office.

• The top 5 selling brokers in Crested Butte are from our office.

• The top 3 buyers’ brokers in Crested Butte are from our office and 5 of the top 6 are from our office.

All data was pulled from the Gunnison County Association of Realtors MLS. Verify with a local Realtor. All information is deemed reliable but not guaranteed. Each office is independently owned and operated.


If you would like more information about this Quarter Report, would like detailed market data concerning your property or would like to view any property in the Crested Butte and Gunnison area, please contact one of our knowledgeable and experienced brokers.

BensonSothebysRealty.com

Channing Boucher970.596.3228

Gary Huresky970.209.2421

Corey Dwan970.596.3219

Sam Lumb 970.275.2448

Jaima Giles 970.275.9357

Larry Neilson970.209.7849

Katy Mattson970.275.4601

Kiley Flint970.275.2554

Wayne Meredith 970.209.2706

MANAGEMENT AND STAFF

Cathy Benson970.209.5015

Owner/Broker

Dustin Kujawski970.275.0262

Manager/Marketing

OUR BROKERS

Megan Clark970.209.3537

Jamie Watt970.209.2675

Jill Matlock970.275.0595

Di Bridges970.901.0888

Bud Bush214.803.3300

Diane Dunaway970.596.1373

Heejohng Chae970.349.6653Office Assistant

Quarter Report | Second Quarter 2016

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