Current Market Conditions for June 2020
Despite the COVID 19 shutdown, residential sales volume through May totaled $52,585,573 which is down only $3,291,627 from the same time last year. Number of transactions were down by just 7 transactions (69 compared to 76). The average sales price of $762,109 continues to climb upward from $725,226 last year. As of June 1st there were 20 properties under contract totaling $17,511,900 of which 25% of our team is involved with. 7 are listed at $1mil or more including our beautiful listing in the town of Crested Butte which we successfully negotiated a deal in only 10 days.
May was an incredibly slow month with much of the valley still on lockdown. We had only 1 single family home sale and only 2 condo/townhome sales in the upper valley. These 3 sales totaled $2,225,000 which was down $5,511,250 from April. Sales ranged from a two bedroom Crested Butte South condo selling for $240,000 to a 3 bedroom home in town selling for $1,000,000.
Land transactions were down just one from the previous month with 3 sales totaling $432,500 in volume. This represents a decrease in volume of $1,015,000 from April. Sales ranged from a Buckhorn Ranch lot for $72,500 to a Meridian Lake parcel selling for $255,000.
SF = single family residence
Inventory is up quite a bit with 16 more listings this month.
* Change from last month in parentheses
Current InventorySF = single family residence
Leading the Market
Crested Butte Collection ranked #1 for volume and #1 for amount of transactions in Gunnison County for 2019. Corey closed out the year with $43,193,600 in sales volume representing over 6% of the entire real estate market in the county. *
*Source: CREN December 31st, 2019
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.