Market Update June 2019

Dated: 06/26/2019

Views: 204

Disclaimer: Please note the data above reflects May 2019.

Spring was pretty anomalous in Crested Butte. Even in late spring, we experienced quite a lot of snow on a couple of occasions. Many locals were a little bummed at this point, as they wanted to lose that nippy feeling that winter had caused. Nevertheless, we can always have a business perspective on things and see the positive side of what has happened.
 
In terms of tourism, despite having a low number of local events, comparing it to the other seasons, tourists were able to participate in outdoor activities. The vast biking and hiking trails that opened up, greeted tourists and locals with a sea of colorful wildflowers, which have bloomed all around the area. With snow still surprisingly falling, tourists could also go skiing in some areas. In terms of real estate, Crested Butte and the surrounding areas has been very good. These extraordinary weather patterns managed to attract many tourists to come in and even provided great days for agents to showcase some fantastic properties.
As the summer season is approaching, we hope for even better weather. Click the link about the Summertime in Crested Butte article to learn about some exciting outdoor activities we have in store for you.
The reports below will show you some great result that can be indirectly caused by these unusual weather patterns.

Disclaimer: Please note the data above reflects May 2019.

In Crested Butte, the pattern from only one luxurious property sold has been broken. Spring gave us the opportunity to have 3 sold single family homes, with an average sales price amounting to $1,818,000, which is a big difference comparing it to the 1 property sold last year of the same month amounting to $879,000. For Townhouse-condos, we had an average sales price amounting to $300,000. There are currently 42 properties in the market for single family homes, town-homes and condos, and land.

Disclaimer: Please note the data above reflects May 2019.

For Crested Butte South, there were 2 properties sold with an average sales price of $697,750. For Townhouse-condos, we had an average sales price amounting to $545,000. These numbers are a big improvement comparing them with the performance of last year of the same month. There are currently 41 properties in the market for single family homes, town-homes and condos, and land.

Disclaimer: Please note the data above reflects May 2019.

In Gunnison city, the results look very positive for all property types, and they all out performed, comparing it to last year’s results. For single family homes, the number of sold properties were 2, the same as the previous year of the same month, but despite this, the average sales price went up, to $331,375. For townhomes-condos, the number of properties sold were 8, having an average sales price of $274,664. Land has also shown improvement, having 4 properties sold, with an average sales price amounting to $117,000. There are currently 35 properties in the market for single family homes, town-homes and condos, and land.

Disclaimer: Please note the data above reflects May 2019.

There were 3 single family homes sold in Mount Crested Butte, grossing to an average sales price of $873,000. Townhomes-condos had quite a nice performance, with 10 properties sold, with an average sales price of $516,050, comparing it to last year, with only 6 properties sold. There are currently 109 properties in the market for single family homes, town-homes and condos, and land.
Click below to see all the reports from the Gunnison Country Association of Realtors:
Almont 
Almont_land 
CAR-Colorado_GCAR_MMI_2019-05 
CB_land 
CBR_land
CBS_land 
Cimarron 
Cimarron_land 
Crested-Butte 
Crested-Butte-South
GunnCity_land 
Gunnison-City 
GunnR_land 
Kebler_land 
Kebler-Pass
LakeCity_land 
Lake-City-and-Area 
Mount-Crested-Butte 
MtCB_land 
Powderhorn 
Powderhorn_land
QCreek_land 
Quartz-Creek 
Rural-Crested-Butte 
Rural-Gunnison
Rural-Mount-Crested-Butte

Disclaimer: Please note the data above reflects May 2019.

 

So what does all this mean to you?

We can see that May was a good month for real estate. There were many properties sold, particularly for town homes and condos. Despite the funny weather conditions, the down time during the mud season, and the very low volume of local events, it’s becoming apparent that town homes and condos are the number 1 choice for buyers.
Now that we are entering summer, we can expect a great number of tourists coming in to greet the summer activities. This is a great time for sellers to put their properties on the market.

Check on the link Market Update – May 2019, to learn about last month’s stats.
If you are thinking about making a real estate purchase, or if you are ready to sell, let me buy you a cup of coffee and let’s discuss Crested Butte’s potential. Who do you know that wants to buy or sell a property? Let the Heather Woodward Team help. You can contact me on my cell phone (970)596-1394 or send me an email at Heather@TheHeatherWoodwardTeam.com.


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