Current Market Conditions for March 2019
We will start to experience a spike in visitors to Crested Butte driven by three weeks of Spring Break. Peak visitors begin around the 9th and run through the end of this month. With Spring Break comes more interested buyers from the Front Range who have been keeping an eye on the market since gaining access via their Epic passes.
There are currently 7 single family homes over $1 million under contract, 2 more than last month. Two of these properties are our listings and another beautiful home of which we represent the Buyers. Another 7 homes under $1mil are under contract bringing the total listing volume to $14,850,900. There are currently 11 condo/town homes under contract totaling $4,688,500.
We experienced 5 single family home and 6 condo/town home sales in the upper valley in February, one of which was our team’s listings that we assisted both Buyers and Sellers. These 11 sales totaled $7,281,000, and were up from 8 in January. Sales ranged from a Grand Lodge studio unit selling for $150,000 to a Spring Creek estate with an adjacent vacant lot selling for $1,650,000.
Land sales remained the same as last month with 8 sales in February totaling $2,572,800, one of which was our team’s listing. Prices ranged from a Buckhorn Ranch lot for $70,000 to a 13.25 acre parcel just out of town selling for full asking price of $1,800,000.
SF = single family residence
Inventory is remaining steady with a very slight decrease from last month.
Currently there are 18 single family homes on the market in the town of Crested Butte, down two from February. Mt. Crested Butte has 20 active homes, the same as last month. Mt. Crested Butte condo and town home inventory had the biggest increase in listings with 72 active condos and town homes on the market, up five from February. Rural Crested Butte inventory has only increased slightly from November with 56 single family homes and 13 condos and town homes on the market. Crested Butte South continues to have extremely low inventory with 6 single family homes and only 8 condos/town homes available.
SF = single family residence
Leading the Market
Our team was honored to help more people in the valley than anyone else in 2018. Our activity earned us the #1 spot with 77 transactions and #2 for sales volume totaling $34,953,810.
Bluebird Real Estate rings in the New Year as the market leader of listing volume with 126 active listings and a total of over $135 million. Crested Butte Collection represents nearly 1/3 of these listings*. We begin 2019 very thankful for all our clients, past, present and future.
We begin 2019 very thankful for all our clients, past, present and future.
*Source: CREN January 4, 2019
Source: CREN. All reported statistics were not necessarily listed/sold by Crested Butte Collection. Information is intended only to show trends in the area.
If you’re looking to buy or sell in Crested Butte and the Gunnison Valley, please contact us. We are happy to provide information on the area, a list of properties that suit your criteria, and/or prepare a complimentary comparative market analysis to assess the value of your property.