Market Update November 2019

Dated: 11/18/2019

Views: 75

Disclaimer: Please note the data above reflects October 2019.

It’s off season here in Crested Butte, and nothing really happens until Mid-November. As locals and tourists wait for the Crested Butte Mountain Resort Opening Day 2019, on Wednesday, November 27, at 9 am, one still has the opportunity to appreciate the great deals and beautiful scenery of this homey little town, without the crowds of people during the winter peak season.
 
There might be a lack of local events to fill your vacation calendar, but it doesn’t necessarily mean that your itinerary can’t be filled. In fact, if your a foodie and enjoy great cuisine, there are many restaurants open during this time, with great discounts offered for exquisite meals. Check out: Restaurant Happenings 2019 Off Season to learn more. There are also great deals for booking hotels, and some can even bump you to an upgraded room for free. If you’re in town or thinking about visiting during the off season, take advantage of these perks, or try hiking and biking with the stunning views while they are still open.
Off season, surprisingly, is one of  my favorite times of the year, as I can sit back and relax with my family. It almost feels like we have this little historical mining town all to ourselves. In terms of real estate, we had quite a lot of people checking out homes. In fact, this is one of those times were one can filter in those people who are seriously looking for homes and want to purchase. Check out the tables below.

Disclaimer: Please note the data above reflects October 2019.

Gunnison County is fairing well, expected for this time of year. We had 28 single family homes sold for the month of October, reaching an average sales price of $862,357. We also had 14 townhouses condos sold, with an average sales price of $435,179. Currently, there are 348 single family homes and townhouses and condos available in the market. Single family homes makes up a majority of these numbers.

Disclaimer: Please note the data above reflects October 2019.

Crested Butte sales have mellowed down for the month of October. We had only 1 sold property for each property type. For single family homes, we had 322 Maroon Avenue that sold for $840,000. For townhouses and condos, we had 211 Gothic Avenue that sold for $799,000. For land, we had TBD Elk Avenue that sold for $875,000. Overall, we now have 51 properties available for single family homes, townhouse/condos, and land combined in the area.

Disclaimer: Please note the data above reflects October 2019.

Mount Crested Butte has maintained its momentum and had 3 single family homes sold, with an astonishing average sales price amounting to $1,152,667. For townhouses and condos, we had 9 sold properties, reaching an average sales price of $442,944. A great turn around this year were the 4 land properties sold, reaching an average sales price of $341,250. This is a great improvement in terms of performance comparing it to last year of the same month. Currently there are 123 properties available for single family homes, townhouse/condos, and land, combined.

Disclaimer: Please note the data above reflects October 2019.

Crested Butte South is another area where sales have mellowed down. We had a single family home that sold for $949,000. This was a listing that I, personally, handled on 578 Shavano Street. We had 9 properties sold for townhouses and condos, unlike last year of the same month where we had 14. Despite this, the average sales price increased, amounting to $442,944. Lastly, we had 2 land properties sold reaching an average sales price of $126,250. There are currently 103 properties on the market for single family homes, townhouses and condos, and land.
Click below to see all the reports from the Gunnison Country Association of Realtors:
Almont
CAR-Colorado_GCAR_MMI_2019-10
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_GunnCity
Land_GunnRural
Land_Kebler
Land_LakeCity
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 October 2019.

 

So what does all this mean to you?

In conclusion, it seems that the numbers of sales are expected this time of year. For the tables above, sales looked quite modest and it seems like land properties are the trend during this time of year. Mount Crested Butte, again, is an area that looks promising and has been doing good for several months now, with some months having properties sold within a million dollar price range. I believe the real estate market will only get better, especial when CBMR starts running the lifts for the winter season. We can expect big numbers of tourists surging into town for the Christmas and New Year holidays.

– Thanksgiving blog
– Restaurant Happenings 2019 Off Season
– Crested Butte Mountain Resort Opening Day 2019

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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