Market Update February 2019

Dated: 02/27/2019

Views: 141

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Disclaimer: Please note the data above reflects January 2019.

January was a very busy month around town! Lots of activities happened and snowfall in abundance! Wow! So far this year we have received a total of 195 inches of snow. This February, we expect to have the same numbers of tourists or even more than that from January due to the many more activities happening. In fact, based on Crested Butte Chamber of Commerce statistics, they predict a good number of visitors coming in through the rest of the month.
 
A longstanding local event happening soon is the Crafted Tasting Event in Crested Butte 2019. This festivity will definitely be a treat for those beer connoisseurs and enthusiasts alike. The event will will take place March 2, 2019, 2 pm through 6 pm, in Crested Butte at the Elevation Hotel and Spa, 500 Gothic Road.
To make reservations for the event, click on the links below:

If you are looking for a fun and wacky event, then Mardi Gras might be the festival for you. Mardi Gras means Fat Tuesday and here in Crested Butte, the event will be held on March 5th with a parade kicking off at 4 pm. Entertainment for all ages will be provided and will include parades, masked balls, and fun music.
Huge crowds for sure will come together and witness the event, which provide entertainment for all ages that includes parades, masked balls and fun music.

Click on the article we have about the Mardi Grasto learn more.

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Disclaimer: Please note the data above reflects January 2019.

Based on the Gunnison County report, we can see that single family properties have more than doubled the number of sold listings from last year and has an average sales price of $615,957. This is a 10% increase over last year and homeowners are receiving just shy of 94.5% of list price for single family homes and 99.2% for condos/townhomes.

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Disclaimer: Please note the data above reflects January 2019.

 CB South shows an average sales price of $780,000 for single family homes. Currently, there are 12 available properties for sale for single family homes and townhomes-condos. Since I moved to this subdivision in 2004, I have seen a big uptick in commercial buildings, new amenities, and new restaurants, especially over the last 3-4 yrs. Currently, there are two buildings under construction in the commercial core and more on the way this summer. This has impacted the inventory levels and caused some buyers to take a hard look at the subdivision than in years past. With most home prices in Crested Butte, Mt. Crested Butte and the areas in between, this subdivision could be the hot new place to buy in the valley. Sellers are receiving 96% of list price, a 6% increase over last year.

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Disclaimer: Please note the data above reflects January 2019.

Currently, there are 25 available properties for sale for single family homes and townhomes-condos. Crested Butte has very low inventory levels, which I have mentioned in almost all of my marketing reports over the past year. Last month, I updated you all about the largest home sale in the history from the town of Crested Butte (Market Update -January 2019). Just this week the new subdivision, Aperture Crested Butte, brought a $5.2 million dollar spec on the market.
Click below to see all the reports from the Gunnison Country Association of Realtors:
Almont 
CAR-Colorado_GCAR_MMI_2019-01 
Cimarron 
Crested-Butte 
Crested-Butte-South 
Gunnison-City 
Kebler-Pass 
Lake-City-and-Area
Mount-Crested-Butte 
Powderhorn 
Quartz-Creek 
Rural-Crested-Butte 
Rural-Gunnison 
Rural-Mount-Crested-Butte

Disclaimer: Please note the data above reflects January 2019.

So what does all this mean to you?

The count of properties sold around the community might be a bit low for the month of January. This might be because winter months are like the off-peak season in real estate or perhaps it could be because people are still recuperating over spending during the Christmas and New Year celebrations, but definitely, January was a busy month.
I personally can say that I had a lot of open houses last month with a couple of under-contract properties, a few sold ones, as well. This was complete opposite to what I experienced last year of the same month. So it just goes to show that there is movement in the market and there are a lot of people looking for their dream home.
Below are related articles on housing news around town.
* Mt. CB signs contract for Homestead affordable housing.
* Affordable housing solutions in the works at the state level.
Also, the links below are proof that Crested Butte and the Gunnison Valley had lots of sold properties this year.
* Crested Butte (Almont norht to Crested Butte) – 18 Sold Properties.
* Gunnison (Almont south to Gunnison) – 20 Sold Properties.
With the Crafted Tasting Event starting on March 2, and Mardi Gras being on March 5th, we can safely say that there will be a steady inflow of tourists coming to the community. It is still an optimistic sign for sellers to open up their properties in the market and present their properties to the number of potential buyers. If you are one who wants to experience a true winter wonderland, we welcome you to Crested Butte. Try checking out the many winter activities we have in store for you.
Don’t know how to get here? I got you covered! Try checking out these sites below to learn more about schedules of flights and buses coming in and out from Crested Butte.
Rural Transit Authority (RTA)

Check on the link Market Update -January 2019, to learn about the report of the previous month.
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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