Current Market Conditions for July 2020
Residential sales volume through June totaled $67,968,652 which is down from $76,580,700 at this time last year. Number of transactions were also down slightly (83 compared to 101). The average sales price, $818,899, however is up again from $758,224 last year. The real story here is the amount of properties put under contract in the last couple of weeks as folks flee the heavily populated metro areas. The expected pent up demand I spoke of in May is definitely occurring. There are 46 properties are under contract totaling an impressive $38,453,000; 15 of which are listed at $1mil or more including this classic Victorian home in downtown Crested Butte listed by our team for $2,450,000.
In June, we had 9 single family home sales and just 5 condo/townhome sales in the upper valley. These 14 sales totaled $15,383,079 which is up from the disappointing $2,225,000 had in May. Sales ranged from a two bedroom deed restricted condo selling for $121,179 to a modern six bedroom home sale in downtown Crested Butte selling for $2,250,000.
Land transactions were down 1 from the previous month with just 2 sales totaling $230,500 in volume. This represents a decrease in volume of $202,000 from May. These sales ranged from a Meridian Lake Meadows lot for $110,500 to a Crested Butte South parcel our team had listed selling for $120,000.
SF = single family residence
Inventory is up 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. Our team 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.