Current Market Conditions for October 2019
A lull in our real estate market that appears to be attributed to the upcoming election continues. Residential sales volume through September was $126,485,975 down $10,759,485 from last year along with amount of transactions (157 compared to 226). The average sales price continues to climb upward though. $805,643 which is up 25% from $607,280 last year. Currently another 47 properties are under contract totaling $45,509,360, 12 of which are listed at $1mil or more.
In September, we had 11 single family home sales and 9 condo/town home sales in the upper valley. These 22 sales totaled $17,646,000 which is down almost $5mil from than last month. Sales ranged from a two bedroom Chadlington condo selling for $295,000 to a beautiful Mt. Crested Butte log home selling for $2,170,000.
Land transactions were down 2 over last month with 11 sales totaling $3,717,500 in volume. Sales ranged from a super steep parcel on Castle Road for $60,000 to a gorgeous oversized town parcel bordering ranch land selling for $1,475,000. Noteworthy is that land sales overall for the year exceeded last year’s sales by nearly $3mil with a total of $30,812,550.
SF = single family residence
Inventory decreased slightly with 7 less listings this month.
* Change from last month in parentheses
Current InventorySF = single family residence
Leading the Market
Through the end of September, the Crested Butte Collection has been involved in $26,245,200 of sales volume representing over 5% of the entire real estate market in Gunnison County. We are ranked #2 for amount of transactions and #2 for volume so far this year.*
*Source: CREN October 4th, 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.