Real Estate Market Update September 2020

Current Market Conditions for September 2020

Residential sales volume through August totaled $124,383,327 which is up $15,546,352 from this time last year. Number of transactions were also up (148 compared to 137). The average sales price, $840,427, is also up 12.5% from $794,430 last year. Currently there are 124 properties under contract totaling $129,979,699; 43 of which are listed at $1mil or more including our exclusive riverfront estate listed for $5,999,000 of which we represent the Sellers.

 

August Sales

In August, our market experienced 22 single family home sales and 21 condo/townhome sales in the upper valley. These 43 sales totaled $39,565,925 which was up an impressive $23,992,175 from July. Sales ranged from a base area Grand Lodge condo selling for $85,000 to a beautiful five bedroom equestrian estate  in Danni Rach selling for $3,450,000.

Land transactions were only up two from the previous month with 13 sales totaling $5,654,900 in volume. This represents a surprising decrease in volume of $1,862,100 from July. Sales ranged from a Tincup mining claim for $25,000 to a 35.13 acre parcel in the Smith Hill Ranches selling for $922,500. Total land sales through August amounted to $18,142,400 with 45 transactions. This lags behind the same period last year of 58 transactions and $27,095,050 of volume. Average sales price is down as well from $467,156 last year to $403,164 this year.

SF = single family residence

Active Listings

Inventory is down considerably with 48 less listings this month over last.

CRESTED BUTTE SOUTH
3 homes (-2*)
3 condos/town homes (-7*)

* Change from last month in parentheses

Current Inventory

SF = single family residence 

Leading the Market