CRESTED BUTTE & GUNNISON

Quarterly ReportYEaR END - 2014

2 | 401 Elk Avenue | 970.349.6653

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

Quick Hits

$155.4 Total Sales Volume in 2014 Upper Valley

346 Total Transactions in 2014 Upper Valley

6.5% Percentage down in 2014 Upper Valley

$194.2 Total Sales Volume in 2014 Gunnison County

527 Total Transactions in 2014 Gunnison County

7.2% Percentage up in 2014 Gunnison County

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BensonSothebysRealty.com | 3

Upper Valley 2013 2014Median Price $270,000 $275,000Average Price $426,912 $449,261Average Days on Market 322 307Highest Price $4,250,000 $3,900,000Lowest Price $4,000 $10,000Properties Sold 342 346% Sold Price to Original List Price 92.4% 90.2%Total Volume Sold $146,004,173 $155,444,575

All Properties in Crested Butte, Mt. Crested Butte, Rural Crested Butte, CB South and Almont

overall Market updateOur 2014 market ended as strong as expected. We were expecting our market to be up around 5% to 7% at the end of the year and we ended up 6.5% in the upper valley and up 7.2% in Gunnison County compared to 2013. The sectors of our market that were strong were homes, condos and townhomes in Crested Butte, condos in Mt. Crested Butte and land in the Rural Gunnison area. Most other sectors were mixed from the previous year with the major exception being single family homes in the Rural Crested Butte area which was down by over 27%.

What does this mean for 2015? We are expecting to see similar growth in our 2015 real estate market. Some factors that could negatively affect our 2015 market are a lack of inventory, especially homes in the town of Crested Butte, a lack of lower end properties, as some buyers could start to be priced out of our market, and if the price of crude oil continues to drop or hover near record lows, some of our middle to higher end properties might be vulnerable. Even with these negative factors we still expect our market to grow as visitor numbers were considerably up in 2014 with no signs of slowing down this year and the Crested Butte area is still an incredible value compared to other Colorado ski towns.

4 | 401 Elk Avenue | 970.349.6653

2013 2014Median Price $617,000 $800,000Average Price $819,300 $1,172,978Average Days on Market 330 276Highest Price $3,700,000 $3,900,000Lowest Price $155,000 $240,000Properties Sold 45 23% Sold Price to Original List Price 91.5% 85.7%Total Volume Sold $36,868,500 $26,978,500

2013 2014Median Price $850,000 $610,900Average Price $1,034,055 $683,890Average Days on Market 323 330Highest Price $4,250,000 $1,375,000Lowest Price $200,000 $258,000Properties Sold 22 25% Sold Price to Original List Price 91.8% 91.8%Total Volume Sold $22,749,230 $17,097,270

2013 2014Median Price $775,000 $861,750Average Price $912,836 $1,028,630Average Days on Market 366 253Highest Price $2,100,000 $2,240,000Lowest Price $210,000 $465,000Properties Sold 26 29% Sold Price to Original List Price 95.4% 94.5%Total Volume Sold $23,733,755 $29,830,295

town of crested Butte | single faMily HoMes

Mt. crested Butte | single faMily HoMes

rural crested Butte | single faMily HoMes

single faMily Market

BensonSothebysRealty.com | 5

2013 2014Median Price $232,500 $200,000Average Price $241,525 $215,883Average Days on Market 237 218Highest Price $450,000 $384,000Lowest Price $110,000 $92,000Properties Sold 35 28% Sold Price to Original List Price 96.3% 95.7%Total Volume Sold $8,453,400 $6,044,750

2013 2014Median Price $212,000 $278,900Average Price $272,906 $308,983Average Days on Market 242 271Highest Price $1,675,000 $1,025,000Lowest Price $72,000 $17,500Properties Sold 63 71% Sold Price to Original List Price 93.3% 94.2%Total Volume Sold $17,193,123 $21,937,859

2013 2014Median Price $376,500 $402,500Average Price $396,870 $396,909Average Days on Market 203 222Highest Price $589,000 $571,000Lowest Price $245,500 $204,750Properties Sold 20 16% Sold Price to Original List Price 95.6% 94.5%Total Volume Sold $7,937,400 $6,350,550

crested Butte soutH | single faMily HoMes

rural gunnison and surrounding | single faMily HoMes

town of gunnison | single faMily HoMes

single faMily MarketBob Brazell Photography

Crested Butte South

Skyland

Red Mountain Ranch

Reserve on the East River

Ohio Creek Valley

Danni Ranch

Trappers Crossing

6 | 401 Elk Avenue | 970.349.6653

Blue Mesa Reservoir

Meridian Lake Park

area MapBob Brazell Photography

BensonSothebysRealty.com | 7

2013 2014Median Price $180,250 $175,000Average Price $223,567 $237,295Average Days on Market 243 234Highest Price $750,000 $880,000Lowest Price $49,900 $35,000Properties Sold 64 53% Sold Price to Original List Price 91.0% 95.0%Total Volume Sold $14,308,332 $12,576,636

2013 2014Median Price $192,500 $198,000Average Price $260,468 $252,341Average Days on Market 334 260Highest Price $932,500 $1,795,000Lowest Price $43,000 $44,900Properties Sold 94 132% Sold Price to Original List Price 92.6% 93.5%Total Volume Sold $24,484,031 $33,309,139

2013 2014Median Price $295,000 $450,000Average Price $271,071 $446,365Average Days on Market 161 381Highest Price $430,000 $730,000Lowest Price $62,281 $192,500Properties Sold 11 13% Sold Price to Original List Price 94.2% 93.7%Total Volume Sold $2,981,789 $5,802,750

town crested Butte | condos and townHoMes

Mt. crested Butte | condos and townHoMes

rural crested Butte and gunnison areas | condos and townHoMes

condo and townHoMe Market

land Market

8 | 401 Elk Avenue | 970.349.6653

2013 2014Median Price $121,293 $215,000Average Price $197,634 $210,825Average Days on Market 428 390Highest Price $1,150,000 $410,000Lowest Price $13,600 $10,000Properties Sold 34 20% Sold Price to Original List Price 86.7% 85.7%Total Volume Sold $6,719,586 $4,126,500

2013 2014Median Price $157,500 $175,000Average Price $157,357 $271,590Average Days on Market 385 687Highest Price $325,000 $825,000Lowest Price $30,000 $61,000Properties Sold 14 13% Sold Price to Original List Price 90.8% 70.6%Total Volume Sold $2,203,000 $3,530,680

2013 2014Median Price $571,500 $477,500Average Price $631,642 $466,435Average Days on Market 305 316Highest Price $1,250,000 $583,675Lowest Price $85,000 $300,000Properties Sold 7 5% Sold Price to Original List Price 92.0% 92.3%Total Volume Sold $4,421,500 $2,332,175

town of crested Butte | residential lots

Mt. crested Butte | residential lots

rural crested Butte | all lots and land

land Market

BensonSothebysRealty.com | 9

2013 2014Median Price $240,000 $249,000Average Price $336,701 $548,373Average Days on Market 276 461Highest Price $1,169,750 $1,750,000Lowest Price $35,000 $49,000Properties Sold 19 21% Sold Price to Original List Price 86.1% 81.4%Total Volume Sold $6,397,324 $11,515,834

2013 2014Median Price $72,250 $51,000Average Price $115,072 $269,800Average Days on Market 416 398Highest Price $1,169,750 $1,750,000Lowest Price $8,500 $18,000Properties Sold 32 45% Sold Price to Original List Price 88.0% 80.5%Total Volume Sold $3,682,324 $12,141,034

2013 2014Median Price $42,000 $55,500Average Price $41,825 $61,884Average Days on Market 601 320Highest Price $63,750 $185,000Lowest Price $20,000 $32,000Properties Sold 10 14% Sold Price to Original List Price 87.3% 92.9%Total Volume Sold $418,250 $886,380

crested Butte soutH | residential lots

rural gunnison | all lots and land

gunnison county | all 11+ acre and over parcels

10 | 401 Elk Avenue | 970.349.6653

Listed by Coldwell Banker Bighorn RealtySold by United Country Realty - Gunnison County

significant sales in 2014

152 evergreen drive | rural c.B. sold for $3,900,000

758 Journey’s end rd | rural c.B.sold for $3,200,000

Listed by Benson Sotheby’s International RealtySold by Crested Butte Resort Real Estate

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

Listed by Premier Mountain PropertiesSold by Benson Sotheby’s International Realty

Listed by Coldwell Banker Bighorn RealtySold by Red Lady Realty

130 wHetstone vista drive | rural c.B.sold for $2,425,000

102 and 104 Maroon ave | crested Buttesold for $2,240,000

301 Butte avenue | crested Buttesold for $1,950,000

Listed by Red Lady RealtySold by Coldwell Banker Bighorn Realty

757 and 717 ridge drive | rural c.B. sold for $3,275,000

BensonSothebysRealty.com | 11

Benson sotHeBy’s international realty stats• We are the leading real estate brokerage in Crested Butte by over $14.1 million in total

sales volume compared to our closest competitor in 2014.

• Our office currently has a 30% market share of sales volume in 2014 in the Crested Butte area.

• We have been involved in 210 sides of the total transactions, which is the most in the Crested Butte area.

• We have sold over $39.8 million worth of listings in 2014

• Our brokers have been very successful in 2014.

• The top 2 brokers in sales volume in Crested Butte are from our office while 4 of the top 5 are from our office.

• The top 3 selling brokers in Crested Butte are from our office while 4 of the top 5 are from our office.

• The top 2 brokers in number of transactions in Crested Butte 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.

Cathy Benson970.209.5015

Channing Boucher970.596.3228

Gary Huresky970.209.2421

Karen Redden970.209.5943

Jaima Giles 970.275.9357

Megan Clark970.209.3537

Corey Dwan970.596.3219

Jamie Watt970.209.2675

Larry Neilson970.209.7849

Katy Mattson970.275.4601

Jill Matlock970.275.0595

Kiley Flint970.275.2554

Dustin KujawskiMarketing Director

Sam Lumb 970.275.2448

If you would like more information about this Quarterly Market Report or would like to view properties in the Crested Butte and Gunnison area please contact one of our knowledgeable brokers.

BensonSothebysRealty.com

Wayne Meredith970.209.2706

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