Market Update August 2019

Dated: 08/15/2019

Views: 49

Disclaimer: Please note the data above reflects July 2019.

The month of August has been quite busy in Crested Butte as we had many visitors acquaint the area as second home owners or as first-time visitors. The summer heat across the country drove many people from the midwest and Texas to Crested Butte, as we had mild temperatures all summer in the 70’s.  The wild flowers were “over the top” beautiful this summer, as we had nice summer rains that fed them.  The back country, however, still has had snow to contend with and some areas are impassible for those adventurous trail blazers.
 
Real Estate was very busy with offers on existing home and new construction happening!  The market was very competitive and if one found a property they were interested in, they needed to jump on making an offer because there were multiple offers on many properties. Crested Butte is definitely a happening place!!
 

Disclaimer: Please note the data above reflects July 2019.

For Gunnison County, sales are doing good. It’s true that July’s number of sold listings have gone lower than that of last year of the same month. Despite this fact, there have been many potential buyers participating in open houses. There are also quite a number of under contract listings that have not been recorded in the table above, for July’s count.
For July, we had 17 sold properties for single family homes, reaching an average sales price of $643,500. This number has improved  from last year of the same month which reached an average sales price of $542,555. For townhouses and condos, there were 16 sold listings and reached an average sales price of $315,188. Currently there are 392 single family homes and townhouses and condos available in the market.
 

Disclaimer: Please note the data above reflects July 2019.

Mount Crested Butte numbers have been very good. Two single family homes that were sold for an average sales price of $1,370,000. These properties were 24 Whetstone Road and new construction at 14 Appaloosa Road, which sold for at $1,850,000 for my buyers. For townhomes and condos, we had 4 sold properties, reaching an average sales price of $361,000. Currently there are 138 properties available for single family homes, townhouse/condos, and land combined.
 

Disclaimer: Please note the data above reflects July 2019.

We can see a little improvement for Crested Butte South from the month of June to the month of July. Last month there was little to no activity, but this month, we can see some growth. For single family homes, we had 2 sold properties reaching an average sales price of $728,250. For townhomes and condos, the average sales price was $412,500, and for land properties, the average sales price was $127,500. Overall, there are currently 46 properties available on the market for single family homes, town-homes/condos, and land.
 

Click below to see all the reports from the Gunnison Country Association of Realtors: Almont CAR-Colorado_GCAR_MMI_2019-07 Cimarron Crested-Butte Crested-Butte-South Gunnison-City Kebler-Pass Lake-City-and-Area Land_Almont Land_CB Land_CBRural Land_CBSouth Land_Cimarron Land_GunnCity Land_GunnRural Land_Kebler Land_LCity Land_MtCB Land_Powderhorn Land_QCreek Mount-Crested-Butte Powderhorn Quartz-Creek Rural-Crested-Butte Rural-Gunnison Rural-Mount-Crested-Butte

 

So what does all this mean to you?

Though the numbers of sold properties are not large compared to June‘s, we can see growth. This is just a temporary “dry spell”, but it is predicted to boom for September. There are already tons of fun events all lined up for next month, and its guaranteed to fill up one’s itinerary. Fall is a very good month for real estate, cool temperature and pleasant weather which means “gold” for open houses. The government is also pushing for affordable house plans for the community. This is great news as more people move in and help expand the community.

– Gunnison Car Show 2019 – August 17th
– West Elk Bicycle Classic 2019 – September 1
– Crested Butte’s Chili & Beer Festival 2019 – September 9

– Battle of the Bartenders 2019 – September 10
 
– Crested Butte Film Festival – September 26th
 

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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