Current Market Conditions for October 2020
Residential sales volume through September totaled $185,434,777 which is up $58,951,802 from this time last year. Number of transactions were also up (213 compared to 157). The average sales price, $870,585, is also up 7.5% from $805,624 last year. Currently there are 104 properties under contract totaling $112,794,299; 42 of which are listed at $1mil or more including this beautiful Smith Hill Ranches home listed by our office for $4,950,000.
In September, we had 31 single family home sales and 34 condo/townhome sales in the upper valley. These 65 sales totaled $61,051,450 which was up $21,485,525 from August. Sales ranged from a Grand Lodge Studio unit selling for $95,000 to our Crested Butte Collection’s listing of an exquisite riverside estate just outside the town of Crested Butte selling for $5,150,000, the largest residential sale in Gunnison County of 2020, in which we had the pleasure of representing the Sellers.
Land transactions were up 7 from the previous month with 20 sales totaling $7,114,250 in volume. This represents an increase in volume of $1,459,350 from August. Sales ranged from a Crested Butte South lot for $69,000 to a homesite in the Reserve on the East River selling for $1,325,000.
SF = single family residence
Residential inventory is down dramatically with 22 less listings this month.
* Change from last month in parentheses
Current InventorySF = single family residence
Leading the Market
Crested Butte Collection has closed $33,703,825 in sales volume and 45 transactions so far this year and has another $30,081,200 under contract.**
*Source: CREN October 7th, 2020
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.