Market Update March 2019

Dated: 03/22/2019

Views: 117

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Disclaimer: Please note the data above reflects February 2019.

There has been non-stop snowfall here in Crested Butte. Everything is covered with snow, and with that, many winter events have been scheduled to continue as planned. We have events like the 45th Annual Al Johnson Uphill/ Downhill Telemark Race on March 24, 2019 at 12:00 pm and the Grand Traverse on March 29 to 30 2019 at 11:45 pm through 4:00 pm.
 
Despite popular belief, that the winter season is slow in terms of real estate sales, Crested Butteand the surrounding communities have proven otherwise. It could be due to the fantastic winter event line up, or the new management in CBMR, or the beautiful scenic views of the mountains all around us. Regardless of a reason, Crested Butte has never failed in giving off a special charm to potential buyers. The momentum doesn’t seem to be slowing down, so it is really important the sellers to understand that the statistics show that there is strong demand from potential buyers.
I guess, in the eyes of a tourist, one can experience a sense of community here. They can immediately witness the long list of outdoor activities all year round and witness that Crested Butte residents are not living here just because they have to, rather, they are living here because they love it here.
A great thing that happened in February was that the Crested Butte Nordic, reached out to entire communities, like an underrepresented local group and help expose them to new sports that they did not have a chance to try. Crested Butte Nordic offered non-profit activities, such as local mentors program that bring in adult partners and local youth, who are then given Nordic ski equipment and trail passes. To read more about this, click on the Crested Butte Nordic: Reaching out to entire community blog.

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Disclaimer: Please note the data above reflects February 2019.

Here, we can see that despite only having 15 new listings for single family homes in February 2019, compared to the 30 on the same month of last year, there were 14 properties sold, compared to the same month last year, which only had 11 properties sold.
For town-homes and condos, there were 8 properties sold, which reached an average sales price of $312,500, compared to the average sales price of $276,825 of the same month of last year.

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Disclaimer: Please note the data above reflects February 2019.

In Crested Butte, there was only 1 available new listing in the market for the month of February for single-family homes. Despite this fact, the average sales price was $985,000. For townhouse-condos, the average sales price was $341,00, compared to last year of the same month, which had an average sales price of $216,120. Indeed, a good spike in the average sales price, amounting to $124,800.
Currently, there are a total of 37 properties available for sale for single family homes, townhouse and condos, and land.

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Disclaimer: Please note the data above reflects February 2019.

In Mt. Crested Butte. A luxurious single family home sold, with a selling price of $1,095,000. This compares to an average sales price of $1,225,000 for the same month of last year. Though there are only 4 properties sold this year compared to the same month of the previous year, townhouse-condos, still reached an average sales price of $363,750.
Currently, there are a total of 117 properties available for sale for single family homes, townhouse and condos, and land.
Click below to see all the reports from the Gunnison Country Association of Realtors:
Almont
Almont_land 
CB Rural_land 
CB South_land 
CB_land 
Cimarron 
Cimarron_land 
Crested-Butte 
Crested-Butte-South 
Gunn City_land 
Gunn Rural_land 
Gunnison-City 
Kebler_land 
Kebler-Pass 
Lake City_land 
Lake-City-and-Area 
Mount-Crested-Butte 
Mt CB_land 
Powderhorn 
Powderhorn_land 
Quartz Creek_land 
Quartz-Creek 
Rural-Crested-Butte 
Rural-Gunnison

Disclaimer: Please note the data above reflects February 2019.

So what does all this mean to you?

We can see that there are many communities that outperformed their previous sales marker and some communities that maintained a decent average sales price. These are all good signs that the market is growing stronger and there seems to be a steady demand from buyers.

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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