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 Sales

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

Active Listings

Inventory is up quite a bit with 16 more listings this month.

CRESTED BUTTE
19 homes (n/a*)
11 condo/town homes (+2*)

MT. CRESTED BUTTE
26 homes (-2*)
101 condo/town homes (+9*)

RURAL CB
41 homes (+2*)
12 condo/town homes (+1*)

CRESTED BUTTE SOUTH
7 homes (+2*)
10 condos/town homes (+2*)

* Change from last month in parentheses

Current Inventory

SF = 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

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.