Market Update December 2019

Dated: 12/26/2019

Views: 93

Disclaimer: Please note the data above reflects November 2019.

It’s officially winter again here in Crested Butte. Imagine spending your holidays in this cozy, snow-covered paradise town, filled with joyous smiles all around. It is the perfect getaway from the hustle and bustle of the busy city life.
 
The town of Crested Butte has a way with people that makes them feel less stressed and in tune with nature. Besides being known as a ski town during winter, the community is known to provide great discounts in terms of lodging, indulging coffee, a selection of restaurants to dine at, and it even has night life activities, with some establishments offering happy hour specials, featuring live music, dancing, pool tables, foosball tables, darts, and more.

The average high temperature here can be 30°F (-1.1°C), and the average low temperature can reach -2°F (-18.9°C), making Crested Butte and the surrounding communities a perfect place for outdoor winter activities. This makes it a hot spot, or rather “cold” spot, destination for thousands of tourists.
In December and all throughout winter, guests and locals alike have a wide selection of community events to attend, if they wish to. This December, we had the 25th Annual Holiday Bazaar, which was a huge hit this year. The Rock on Ice event that showcases incredible ice sculptures made by amateur and expert ice carvers are displayed at the Courtyard at Mountaineer Square. We also have the Santa’s Sleigh and Christmas Eve Torchlight Parade, two spectacular events that take place on December 24th.

Beginning with Crested Butte, this community’s single family home, at 405 Fifth Street sold for $550,000. For town homes and condos, 721 Red Lady Avenue sold for $775,300. The trend right now in Crested Butte is having 1 or 2 properties sold, amounting to $500,000 or higher.  Currently, there are a total of 42 properties of single-family homes, townhouses and land properties available in the market.

Disclaimer: Please note the data above reflects November 2019.

In Crested Butte South, for townhouse-condos, we had 6 properties sold reaching an average sales price of $549,200, a big improvement compared to last year of the same month’s sales, which only had 1. It’s seems like this is an ongoing trend based on the previous months that buyers are looking for condo’s in this area. For land, properties, we had 2 sales, the same number of volume as compared to last year of the same month, however, the average sales price had improved, reaching an amount of $145,000. Overall, there are 49 available properties for sale for single family homes, townhomes, condos, and land in total.

Disclaimer: Please note the data above reflects November 2019.

For Gunnison county, the data shows that November has been a good month in terms of real estate, despite having an off season before November 27th when CBMR opened.
We only had 14 new listings available to the public, compared to last year which had 23. Despite a smaller volume of properties available, there were 17 properties sold reaching an average sales price of $1,016,382. We also had 19 townhouses and condos sold in the area, reaching an average sales price of $528,542, which out performed last year of the same month’s numbers which only had 17 sold. Currently, there are 336 single family homes, townhouses and condos available in the market.

Disclaimer: Please note the data above reflects November 2019.

In Mt. Crested Butte, for single family homes, 33 Anthracite Drive sold for $762,500. For townhomes and condos, there were 11 properties sold, reaching an average sales price of $618,727. Currently, there are 19 single family homes available in the market, 64 townhomes and condos, and 42 land properties, totaling to 125 properties available in the market.
Click below to see all the reports from the Gunnison Country Association of Realtors:
Almont
CAR-Colorado_GCAR_MMI_2019-11
Cimarron
Crested-Butte
Crested-Butte-South
Gunnison-City
Kebler-Pass
Lake-City-and-Area
Land_Almont
Land_CB
Land_CBRural
Land_CBS
Land_Cimarron
Land_GCity
Land_GRural
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

Disclaimer: Please note the data above reflects November 2019.

 

So what does all this mean to you?

Overall, for the month of November, there was not a lot of action going on in terms of real estate. It all might be due to the short off season that came along. This is a normal trend that seems to be consistent, comparing it with the volume of last year of the same month. We can expect that December will increase in volume, as the peak season of winter has arrived.
Old trends reveal that winter times were the down time for real estate, but surprisingly, 2018’s numbers for December were great in all the surrounding areas in the Gunnison Valley. In fact, there were even a couple of properties that were near or exceeded the 1 million dollar price rage. CBMR’s winter activities, it seems, has been pulling the numbers up by having a surge of tourists coming into town.

As for the trends, it seems that town homes and condos are hot ticket properties that are sought after by buyers in Crested Butte South and Mt. Crested Butte. Lastly, in Crested Butte, single family homes have 1 or 2 properties sold on average, amounting to $500,000 or higher in terms of average sales price.

 25th Annual Holiday Bazaar
 The Rock on Ice
 Christmas Eve Torchlight Parade and Santa’s Sleigh
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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