Market Update September 2019

Dated: 09/18/2019

Views: 44

Disclaimer: Please note the data above reflects August 2019.

Autumn is finally here in Crested Butte, and the season greets us with the most beautiful colors. It is also a great time to visit our town as the weather is wonderful, the temperature is fantastic, not too cold, not too warm. It is also a season where there are tourists but not as many as when winter comes and a bulk of winter sports enthusiasts come in. So this is a good time to stay at the hotels and condos at off-season prices.
 

One thing that is great about this season is the Crested Butte Scenic Drive, where one can enjoy breathtaking views of the colorful landscape from the comfort of their car. This is a chance to take wonderful pictures and selfies while the route is still open, as it closes during winter. Hiking and biking along the many trails is a great idea to immerse oneself in this spectacular season.
There are also many events during autumn like the odd and mysterious week long Vinotok festival that celebrates the lure and origin of Crested Butte, the Battle of the Bartenders on September 24, the Crested Butte Film Festival on September 26, and many more. These fun and interesting events will have your itineraries full all season long. The season peaks Thanksgiving, where many restaurants offer exciting promos for delicious and rare meals at a fraction of a cost.
Autumn is also a season perfect for real estate. Imagine having open houses surrounded by breathtaking mountain and scenic views. With experience, buyers will have themselves smiling from ear to ear with delight. This is usually the best season that sales boom at a significant amount.

Disclaimer: Please note the data above reflects August 2019.

August 2019 has been a fantastic month for Crested Butte. There have been properties from all properties types, namely single family homes, land, townhouses & condos sold. August has also, again, been a month where the pattern of only one property being sold per month has been changed. As we all know from collating data, Crested Butte is notorious for selling homes with price ranges that reach up to a million dollars and over, and this month, we had 4 single family homes sold reaching an astonishing average sales price $2,394,125. For townhouses and condos, we have 622 Teocalli Avenue that sold for $434,000. For land, we have TBD Ninth Street that sold for an impressive $1,250,000. Overall, thereare a total of 50 properties available in the market for sale. These are composed of single family homes, townhouses – condos, and land.

Disclaimer: Please note the data above reflects August 2019.

In Crested Butte South, we had 5 townhouse and condo properties sold, for an average sales price of $443,280. For land, we had 5 properties sold, the same number as that of last year of the same month. The average sales price is $146,500 an increase by $21,900‬ comparing it from last year. There are currently 45 properties in the market for single family homes, town-homes and condos, and land. Vacant land makes up a majority of those numbers.

Disclaimer: Please note the data above reflects August 2019.

For Gunnison County, sales have been quite good for August. There were fewer sales than that of last year of the same month, but August, 2019 has outdone itself compared to the past three months. For single family homes, there were 29 sold properties, reaching an average sales price of $798,445, compared to last year of the same month with an average sales price of $660,003. For townhouses-condo, there were 16 sold listings and reached an average sales price of $462,767, compared to last year of the same month with an average sales price $383,372. Currently there are 391 single family homes and townhouses and condos available in the market.

Disclaimer: Please note the data above reflects August 2019.

In Mt. Crested Butte, 2 properties were sold amounting to an average sales price of $1,267,000, a significant increase comparing it to last year of the same month with an average sales price of $955,800. Townhouses and condos, had 4 sales and received an average sales price of $485,219. There were also 2 land properties sold, having an average sold price of $337,500. There are currently 134 properties on the market for single family homes, town-homes and condos, and land.
Click below to see all the reports from the Gunnison Country Association of Realtors:
Almont
Almont_land
CAR-Colorado_GCAR_MMI_2019-08
CB_land
CBRural_land
CBS_land
Cim_land
Cimarron
Crested-Butte
Crested-Butte-South
GCity_land
GRural_land
Gunnison-City
Kebler_land
Kebler-Pass
Lake-City-and-Area
LCity_land
Mount-Crested-Butte
MtCB_land
Pow_land
Powderhorn
QCreek_land
Quartz-Creek
Rural-Crested-Butte
Rural-Gunnison
Rural-Mount-Crested-Butte

Disclaimer: Please note the data above reflects August 2019.

 

So what does all this mean to you?

In conclusion, August was a great month over all for sales. Crested Butte sales have made a great recovery and went above expectation with average sales prices above the 1 million dollar price range. There were also a couple of areas that reached an average sales price above the 1 million dollar price range as well. This was seen not only for single family homes but on land, townhouses and condos as well.
This trend can be carried through autumn with more sales increasing as we near December. It is indeed the perfect time for open houses, setting appointments, for meeting with clients and more. Lastly, take note of the slightly significant shift that single family homes, townhouses and condos had.  It was a contest on which was the most popular property type being sold. This month has been a game changer, because for the past months of this year, townhouses and condos have been the most popular property type being sold so far.

– Vinotok festival
– Battle of the Bartenders
– Crested Butte Film Festival

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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