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The
state of the Crested Butte real estate market.
In the
past three years we have
witnessed a large increase in values.
The trigger that started this wave was the sale of
the ski area to the owners of Okemo in Vermont. As a
result Crested Butte became known to a large number
of people who are interested in investing in real
estate here . Currently real estate has reached a
plateau and is taking a respite from the recent run
up.
One
of the dominant market factors at work in Crested
Butte is
demand. The area around Crested Butte is incredibly
beautiful and there are lots of outdoors activities
to keep busy with. Unfortunately the continued
demand is met by a limited number of properties
available especially in the lower end of the price
spectrum. Obviously, continued demand coupled with
limited supply will drive prices upwards over the
long term. Over 85%
of Gunnison County is Wilderness, BLM or National
Forest. Development is very limited and generally
opposed, keeping supply low into the future. The
Town of Crested Butte itself is hemmed in on four
sides and cannot expand further.
Call on us to find out more about
building your dream home. It is still cheaper to buy
land and build than to buy an existing home.
Kindly,
Wouter van Tiel |