Market Update April 2020

Current Market Conditions for April 2020

Residential sales volume for the first quarter of 2020 totaled $42,624,323 which is up $16,772,823 from the same period last year. That is a 39% increase over the first quarter of 2019! Number of transactions were also up (56 compared to 35). The average sales price of $761,148 is also up slightly from $738,614 last year. Currently there are 20 properties under contract totaling $18,856,900; 7 of which are listed at $1mil or more including this beautiful six bedroom home in the town of Crested Butte listed for $2,395,000. The real estate market has slowed considerably as the valley shut down to tourism but some deals are still being negotiated. Overall only 15 price reductions have occurred from Gunnison to Crested Butte in excess of 770 listings in the last three weeks. Sellers appear confident the current situation will pass and pent up demand for the summer will occur. 

March Sales

In March, we had 11 single family home sales and 11 condo/townhome sales in the upper valley. These 22 sales totaled $22,484,350 which was up $10,717,427 from February. Sales ranged from a base area Grand Lodge unit selling for $105,000 to a one of a kind 124 acre estate just outside the town of Crested Butte selling for $5,000,000 in which Bluebird Real Estate represented the buyers and sellers.

Land transactions were down 3 from the previous month with 4 sales totaling $1,267,000 in volume. This represents a decrease in volume of $236,000 from February. Sales ranged from a Silver Sage lot for $159,000 to a Saddle Ridge Ranch parcel selling for $550,000.

SF = single family residence

Active Listings

Inventory is down slightly again with 6 less listings this month.

CRESTED BUTTE SOUTH
3 homes (-2*)
6 condos/town homes (+2*)

Current Inventory

Leading the Market