CRESTED BUTTE & GUNNISON

Quarterly ReportFIRST QUaRTER OF 2014

2 | 401 Elk Avenue | 970.349.6653

3 Overall Market Update 8 Land Market 4 Single Family Market 10 SignificantSales6 Area Map 11 OurOfficeUpdate7 Condo and Townhome Market 12 ContactUs

QUICk HITS

$19.0 TotalSalesVolumeFirstQuarter2014 UpperValley

48 TotalTransactionsFirstQuarter2014 UpperValley

(50.2%) PercentagedownFirstQuarter2014 UpperValley

$24.9 TotalSalesVolume FirstQuarter2014 GunnisonCounty

72 TotalTransactions FirstQuarter2014 GunnisonCounty

(30.7%) PercentagedownFirstQuarter2014 GunnisonCounty

Mill

ion

Mill

ion

CONTENTS

BensonSothebysRealty.com | 3

Upper Valley Transactions 2013 2014MedianPrice $243,781 $217,500Average Price $409,459 $396,851AverageDaysonMarket 254 313Highest Price $2,964,000 $1,925,000LowestPrice $29,900 $37,000Properties Sold 70 48%SoldPricetoOriginalListPrice 89.8% 94.5%Total Volume Sold $28,662,161 $19,048,886

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

OvERall MaRkET UpDaTEWithamyriadofthingshappeningthiswintersuchasrumorsoftheskiresortselling,acolderwinterthroughoutthenationandasnowierwinterinCrestedButtethanwehavehadinmul-tipleyears,theFirstQuarterof2014wasmuchslowerthan2013.Buyersweremoreinclinedtoskithefreshpowderandtakeawaitandseeapproachtopurchasingthiswinter.

BuyersfinallydiddecidetostartmovingandputtingpropertiesundercontracttowardtheendofMarchwithaflurryofpropertiesgoingunder.CurrentlyintheGunnisonCountythereare85propertiesundercontractwithalistingvalueof$34.6million,withthemajorityclsoingintheSecondQuarter.

TheonlysegmentofourmarketthatmadeimprovementswasthecondoandtownhomemarketinMt.CrestedButte.Duetotheabundanceofsnowthiswinter,manyskierswereintowntopartakeintheamazingskiing.Theincreaseofskiersintownhelpeddrivethesaleoflowertomiddlerangecondosandtownhomes.Thissegmentalmostdoubledinsalesvolumefromthepreviousyear.

4 | 401 Elk Avenue | 970.349.6653

Q1: January to March 2013 2014MedianPrice $625,000 $444,000Average Price $867,807 $869,666AverageDaysonMarket 225 154Highest Price $2,964,000 $1,925,000LowestPrice $330,000 $240,000Properties Sold 13 3%SoldPricetoOriginalListPrice 87.8% 91.5%Total Volume Sold $11,281,500 $2,609,000

Q1: January to March 2013 2014MedianPrice $1,300,000 $545,000Average Price $475,000 $546,000AverageDaysonMarket 187 247Highest Price $1,300,000 $618,000LowestPrice $475,000 $475,000Properties Sold 4 3%SoldPricetoOriginalListPrice 91.2% 95.0%Total Volume Sold $3,550,000 $1,638,000

Q1: January to March 2013 2014MedianPrice $597,502 $1,222,500Average Price $732,501 $1,222,500AverageDaysonMarket 354 129Highest Price $1,315,000 $1,785,000LowestPrice $420,000 $660,000Properties Sold 4 2%SoldPricetoOriginalListPrice 96.7% 95.9%Total Volume Sold $2,930,005 $2,445,000

TOwN OF CRESTED BUTTE | SINGlE FaMIly HOMES

MT. CRESTED BUTTE | SINGlE FaMIly HOMES

RURal CRESTED BUTTE | SINGlE FaMIly HOMES

SINGlE FaMIly MaRkETRavenswood | Offered for $5,500,000James Ray Spahn Photography

BensonSothebysRealty.com | 5

Q1: January to March 2013 2014MedianPrice $299,900 $154,375Average Price $299,900 $154,375AverageDaysonMarket 57 131Highest Price $299,900 $173,750LowestPrice $299,900 $135,000Properties Sold 1 2%SoldPricetoOriginalListPrice 100% 85.2%Total Volume Sold $299,900 $308,750

Q1: January to March 2013 2014MedianPrice $187,000 $278,900Average Price $173,395 $335,322AverageDaysonMarket 263 313Highest Price $282,000 $675,000LowestPrice $75,000 $111,500Properties Sold 8 9%SoldPricetoOriginalListPrice 97.7% 95.4%Total Volume Sold $1,387,163 $3,017,900

Q1: January to March 2013 2014MedianPrice $310,000 $515,500Average Price $310,000 $515,500AverageDaysonMarket 105 329Highest Price $310,000 $571,000LowestPrice $310,000 $460,000Properties Sold 1 2%SoldPricetoOriginalListPrice 95.4% 96.0%Total Volume Sold $310,000 $1,031,000

CRESTED BUTTE SOUTH | SINGlE FaMIly HOMES

RURal GUNNISON aND SURROUNDING | SINGlE FaMIly HOMES

TOwN OF GUNNISON | SINGlE FaMIly HOMES

SINGlE FaMIly MaRkET19 Kokanee Lane| Offered for $4,600,000

CrestedButteSouth

Skyland

RedMountainRanch

Reserveon theEastRiver

OhioCreekValley

DanniRanch

TrappersCrossing

6 | 401 Elk Avenue | 970.349.6653

BlueMesaReservoir

Meridian Lake Park

aREa Map535 Journeys End Road | Offered for $4,995,000

BensonSothebysRealty.com | 7

Q1: January to March 2013 2014MedianPrice $115,000 $181,500Average Price $222,937 $269,614AverageDaysonMarket 165 358Highest Price $750,000 $605,000LowestPrice $49,900 $89,686Properties Sold 16 6%SoldPricetoOriginalListPrice 93.4% 94.7%Total Volume Sold $3,567,000 $1,617,686

Q1: January to March 2013 2014MedianPrice $185,000 $203,500Average Price $223,553 $308,272AverageDaysonMarket 265 241Highest Price $700,000 $1,487,500LowestPrice $50,000 $59,000Properties Sold 17 20%SoldPricetoOriginalListPrice 91.0% 93.5%Total Volume Sold $3,800,412 $6,165,450

Q1: January to March 2013 2014MedianPrice $368,500 $566,000Average Price $368,500 $566,000AverageDaysonMarket 69 317Highest Price $368,500 $566,000LowestPrice $368,500 $566,000Properties Sold 1 1%SoldPricetoOriginalListPrice 100% 95.1%Total Volume Sold $368,500 $566,000

TOwN CRESTED BUTTE | CONDOS aND TOwNHOMES

MT. CRESTED BUTTE | CONDOS aND TOwNHOMES

RURal CRESTED BUTTE aND GUNNISON aREaS | CONDOS aND TOwNHOMES

CONDO aND TOwNHOME MaRkETWestWall Lodge | From $675,000 to $1,995,000

laND MaRkET

8 | 401 Elk Avenue | 970.349.6653

Q1: January to March 2013 2014MedianPrice $65,000 $134,250Average Price $69,081 $134,250AverageDaysonMarket 491 1007Highest Price $117,586 $158,500LowestPrice $29,900 $110,000Properties Sold 6 2%SoldPricetoOriginalListPrice 80.4% 93.2%Total Volume Sold $414,486 $268,500

Q1: January to March 2013 2014MedianPrice $111,000 $61,000Average Price $106,750 $61,000AverageDaysonMarket 450 352Highest Price $175,000 $61,000LowestPrice $30,000 $61,000Properties Sold 4 1%SoldPricetoOriginalListPrice 81.9% 88.4%Total Volume Sold $427,000 $61,000

Q1: January to March 2013 2014MedianPrice $650,000 n/aAverage Price $650,000 n/aAverageDaysonMarket 13 n/aHighest Price $650,000 n/aLowestPrice $650,000 n/aProperties Sold 1 0%SoldPricetoOriginalListPrice 92.9% n/aTotal Volume Sold $650,000 n/a

TOwN OF CRESTED BUTTE | RESIDENTIal lOTS

MT. CRESTED BUTTE | RESIDENTIal lOTS

RURal CRESTED BUTTE | all lOTS aND laND

laND MaRkET

BensonSothebysRealty.com | 9

Q1: January to March 2013 2014MedianPrice $150,000 $240,000Average Price $471,972 $336,701AverageDaysonMarket 606 276Highest Price $3,000,000 $1,169,750LowestPrice $5,000 $35,000Properties Sold 18 19%SoldPricetoOriginalListPrice 83.9% 86.1%Total Volume Sold $8,495,500 $6,397,324

Q1: January to March 2013 2014MedianPrice $70,000 $74,500Average Price $225,141 $118,139AverageDaysonMarket 638 426Highest Price $3,000,000 $1,169,750LowestPrice $5,000 $8,500Properties Sold 41 31%SoldPricetoOriginalListPrice 81.2% 88.0%Total Volume Sold $9,230,800 $3,662,324

Q1: January to March 2013 2014MedianPrice $40,000 $42,000Average Price $43,807 $41,825AverageDaysonMarket 955 601Highest Price $88,000 $63,750LowestPrice $25,000 $20,000Properties Sold 13 10%SoldPricetoOriginalListPrice 76.0% 87.3%Total Volume Sold $569,500 $418,250

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 Crested Butte Resort Real Estate

SIGNIFICaNT SalES IN FIRST QUaRTER OF 2014

795 SkylaND DRIvE | RURal C.B.SOlD FOR $1,925,000

401 GOTHIC avENUE | CRESTED BUTTESOlD FOR $1,785,000

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

Listed by Benson Sotheby’s International Realty & Crested Butte Resort Real EstateSold by Keller Williams Realty Colorado Heritage

Listed by Crested Butte Resort Real EstateSold by Crested Butte Resort Real Estate

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

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

UNIT 6 | SIlvER RIDGE CONDOS | MT. C.B.SOlD FOR $1,487,500

202 Elk avE(COMMERCIal) | CRESTED BUTTESOlD FOR $1,250,000

UNIT 406 | THE lODGE aT MTS | MT. C.B.SOlD FOR $820,000

UNIT 12a | vIllaS TOwNHOMES | MT. C.B.SOlD FOR $680,000

BensonSothebysRealty.com | 11

BENSON SOTHEBy’S INTERNaTIONal REalTy STaTS• WearetheleadingrealestatebrokerageinCrestedButtebyover$15millionintotalsalesvolumecomparedtoourclosestcompetitorin2013.

• Ourofficeincreaseditstotalsalesvolumebyover51%in2013comparedto2102.

• Ourofficehada31%marketshareofsalesvolumein2013intheCrestedButtearea.

• Ourofficehasbeeninvolvedin201sidesofthetotaltransactions,whileourclosestcompetitorhas114sides.

• Ourofficesoldover$48.7millionworthoflistingsin2013.

• Ourbrokerswereverysuccessfulin2013.

• Thetop4brokersinCrestedButtewereallfromouroffice.

• ThetoplistingbrokerinCrestedButtewasfromouroffice.

• ThetopsellingbrokerinCrestedButtewasfromouroffice.

• ThebrokerwiththemosttransactionsinCrestedButtewasfromouroffice.

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.

CathyBenson970.209.5015

ChanningBoucher970.596.3228

GaryHuresky970.209.2421

Karen Redden970.209.5943

JaimaGiles970.275.9357

Megan Clark970.209.3537

Corey Dwan970.596.3219

Jamie Watt970.209.2675

LarryNeilson970.209.7849

KatyMattson970.275.4601

JillMatlock970.275.0595

Kiley Flint970.275.2554

DustinKujawski970.349.6653

SamLumb970.275.2448

IfyouwouldlikemoreinformationaboutthisQuarterlyMarketReportorwouldliketoviewpropertiesintheCrestedButteandGunnisonareapleasecontactoneofourknowledgeablebrokers.

BensonSothebysRealty.com

Wayne Meredith970.209.2706

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