Current Market Conditions for August 2019
What started off as a slow summer due to an incredible large snowfall has continued. It appears the market has leveled off and is in a slight decline as prices increase substantially. Residential sales volume through August was $108,839,975 down $7,971,995 from last year along with amount of transactions (137 compared to 198). The average sales price, $794,452, is up 26% from $589,959 last year. Currently another 45 properties are under contract totaling $42,657,400, 14 of which are listed at $1mil or more including this beautiful estate right outside of town listed for $3,375,000 of which we represent the Buyer.
In August, we had 9 single family home sales and 13 condo/town home sales in the upper valley. These 22 sales totaled $22,449,775 which was nearly $13mil more than last month. Sales ranged from a one bedroom Grand Lodge condo selling for $161,000 to a record breaking home sale in the town of Crested Butte selling for $4,461,500.
Land transactions were up 4 over last month with 13 sales totaling $4,846,300 in volume. This represents an increase of $1,552,300 in volume over last month. Sales ranged from a remote Schofield parcel for $25,000 to a Wilder on the Taylor parcel selling for $1,750,000.
SF = single family residence
Inventory increased slightly with only 7 new listings this month.
* Change from last month in parentheses
Current InventorySF = single family residence
Leading the Market
Through the end of August the Crested Butte Collection has been involved in $23,810,200 of sales volume representing nearly 6% of the entire real estate market in Gunnison County. We are ranked #1 for amount of transactions and #2 for volume.*
*Source: CREN August 31st, 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.