Market Update July 2019

Dated: 07/22/2019

Views: 82

Disclaimer: Please note the data above reflects June 2019.

Summer is finally here in Crested Butte, and we are overjoyed with the warmer weather, which can reach about 60’s to high 70’s. Summer is my favorite season, as living in a high altitude location, warm weather becomes a rare luxury, with it being just dry and with no humidity. This year was especially cold in the first and second quarter, so this season’s warmth is absolutely delightful.
 
The wildflowers are absolutely stunning this year. The experts are calling it a super bloom. Get out there and enjoy it all! Lots of fun things to do like hiking, mountain biking, kayaking, paddle boarding, and of course all of the many summer activities going on in the area (Alpenglow, Music on the Mountain, Film Festival, Art Walks, Farmer Market on Sundays).
I recently tried the Crested Butte’s Historic Walking Tour, which was super fun and educational, which I encourage everyone to try at least once with a group of family and/or friends. The tours start at 9am on Tuesdays and Thursdays. Meet at the Crested Butte Mountain Museum. Glo Cunningham is the tour leader and you are in for a real treat!
In terms of real estate, the momentum of sales slowed down, but only a sliver. It is common with the July 4th holiday but things are heating back up again. Nevertheless, in the tables below, you will see an interesting pattern of either high average sales price or an absolutely jaw dropping properties sold.

Disclaimer: Please note the data above reflects June 2019.

For Gunnison County, sales have been exceptionally good. Granted, there are fewer sales than that of last year of the same month. The average sales price, however, has significantly increased. For single family homes, there were 20 sold properties, reaching an average sales price of $868,825, compared to last year of the same month with an average sales price of $628,159. For townhouses-condo, there were 22 sold listings and reached an average sales price of $419,000, compared to last year of the same month with an average sales price $245,792. Currently there are 376 single family homes and townhouses and condos available in the market.

Disclaimer: Please note the data above reflects June 2019.

For Crested Butte, Only one luxurious single family home being sold is back into effect; but compared to the previous months with having sales amounting to just a shy over a million dollars, this time around, this sold for a whopping $3,850,000. The gorgeous two story property mentioned is located on Belleview Avenue, with a total acreage of 0.250, approximately 3,391 square feet, comprised of 4 bedrooms and 4 baths. For townhouse-condos, the average sales price reached $288,000. For land, the average sales price was $158,851. There are currently 47 properties in the market for single family homes, town-homes/condos, and land.

Disclaimer: Please note the data above reflects June 2019.

There has not been a lot of action in Crested Butte South in the month of June. We can say that it more or less, followed the pattern of last year’s sales of the same month. The average sales price for single family homes was $702,000. For townhomes-condos, the average sales price was $480,000, and for land properties, the average sales price was $150,000, This is an $80,000 increase compared to the same month of last year. If all goes well, the pattern is said to go up for July in terms of sales as per 2018 market update report. Overall, there are currently 54 properties available in the market for single family homes, town-homes/condos, and land.

 

Disclaimer: Please note the data above reflects June 2019.

There were 10 town-homes and condos sold  in Mount Crested Butte for the month of June, and despite being 4 numbers short compared to last year of the same month, the average sales price however reached an amount of $408,100, a $170,207 increase. For land, the number of sold properties did not change, but the average sales price, however, increased big time, amounting to $2,748,750. Currently there are 132 properties available for single family homes, townhouse/condos, and land combined.
Click below to see all the reports from the Gunnison Country Association of Realtors:
Almont
CAR-Colorado_GCAR_MMI_2019-06
Cimarron
Crested-Butte
Crested-Butte-South
Gunnison-City
Kebler-Pass
Lake-City-and-Area
Land_Almont
Land_CB
Land_CBRural
Land_CBS
Land_Cim
Land_GCity
Land_GRural
Land_Kebler
Land_LCity
Land_MtCB
Land_Powderhorn
Land_QC
Mount-Crested-Butte
Powderhorn
Quartz-Creek
Rural-Crested-Butte
Rural-Gunnison
Rural-Mount-Crested-Butte

Disclaimer: Please note the data above reflects June 2019.

 

So what does all this mean to you?

Although not a lot of action happened for the month of June, there were a lot of big luxury properties that caught the buyers’ attention, particularly in Crested Butte. This is a trend that I believe will carry over into 2020. Also, townhouses and condos were really popular and maintained its count in terms of sales, particularly in Mount Crested Butte. I suspect that this number of sales is a trend for the month of June, as shown in previous years. It could be due to the slightly slower start to summer this year. Spring lingered a bit longer than in years past.

 
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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