Current Market Conditions for July 2019
The overall residential market through the end of June continues to improve. Sales volume has surpassed last year-to-date volume ($76,381,200 up nearly $7.5mil from $68,931,819). Amount of transactions are down (100 compared to 117 same time last year) but the average sale price is $763,812 up from $589,161. With a summer season that shows no signs of slowing down we are expecting record breaking sales volume the second half of the year. Currently another 20 residential properties under $1mil are under contract. Currently only 3 properties a million and over are under contract, 4 less than last month. Noteworthy is 518 Ninth Street what could become the most expensive sale in the town of Crested Butte.
In June, we had 9 single family home and 15 condo/town home sales in the upper valley. These 24 sales totaled $20,501,000, and was up nearly $1.5mil from last month. Sales ranged from a one bedroom Evergreen condo selling for $150,000 to a brand new home in Downtown Crested Butte selling for $3,850,000. This represents $1,135 a sq. ft. a new record!
Land sales volume was up dramatically with 7 sales totaling $8,576,351 representing an increase of $7,837,351 over last month. This is largely due to this parcel selling so expect some new developments on the mountain in the future! Other prices ranged from a Buckhorn Lot in Crested Butte lot for $100,000 to a 91.5 acre riverfront parcel selling for $2,520,000.
SF = single family residence
A welcomed increase in inventory of 49 listings has hit the market over the last month adding more selection for those looking to purchase.
* Change from last month in parentheses
Current InventorySF = single family residence
Leading the Market
Through the end of June the Crested Butte Collection has been involved in $19,574,200 of sales volume representing 23% more than any other agent in Gunnsion County.*
*Source: CREN June 30th, 2019
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.