Market Update October 2019

Dated: 10/22/2019

Views: 65

Disclaimer: Please note the data above reflects September 2019.

Autumn is continuing to be a beautiful season here in Crested Butte. The fall colors have been spectacular as always.  However, we had some very gusty 30-45 mph winds with unusually cold weather that took the leaves down quickly. There is still a steady inflow of tourists coming to our town along with hunters now that hunting season has opened.
 
Winter is not that far away and we are already getting pockets of snow here and there. It looks to be a short autumn season, as it is beginning to chill down. We had our first snow a couple of week’s ago, mainly in the higher country. In terms of community events, there are very few during the month of October, but it provides a lot of time for everyone to enjoy the simple and peaceful town before tourists come in for the many winter events.  Right now, the biggest event everyone, especially the children, is looking forward to is Halloween.  KBUT is preparing for many events culminating to this day.
As for real estate, this month has been very prosperous, with many new properties opening up in the market. This is the time we can see who is looking at property to call home, as there are fewer tourists and more serious buyers that want to attend open houses and are more eager to make offers.

Disclaimer: Please note the data above reflects September 2019.

In Crested Butte, sales for single family homes have been extremely good, with 4 properties sold and reached an average sales price of  $1,267,250. This is a great milestone compared to last year of the same month, when only 2 properties were sold and had an average sales price of $966,750. For the past few months leading to the end of the year, the number of luxury homes sold are increasing in number. We also had 1 land property sold, amounting to $1,475,000. This is something that is quite uncommon but definitely something to keep an eye on for land properties. Currently there are 47 single family homes, townhouses, condos and land properties available in the market.

Disclaimer: Please note the data above reflects September 2019.

Gunnison County has been booming this third quarter of the year. We had 35 sales in September for single family homes, with an average sales price of $667,706 and 12 town homes and condos sold, with an average sales price of $448,167.  Checking the table above, we can see that there are more single family homes sold than town homes and condos sold this month. It seems that single family homes are the property type of choice for this quarter comparing it to the 1st half of the year, when buyers preferred condo properties. Overall, there are currently 367 single family homes and townhouses and condos available in the market.

Disclaimer: Please note the data above reflects September 2019.

In Mt. Crested Butte, 4 single family homes were sold amounting to an average sales price of $1,127,500. This is the second month where Mt. Crested Butte average sales price have reached a million dollars. This is an interesting pattern as we are so used to seeing only Crested Butte properties reaching this bench mark. For townhouses and condos, we had 9 sales and received an average sales price of $519,111 compared to last year, where the average sales price was only $485,649. There were also 2 land properties sold, having an average sold price of $120,500. There are currently 133 properties on the market for single family homes, town-homes, condos, and land.
Click below to see all the reports from the Gunnison Country Association of Realtors:
Almont
CAR-Colorado_GCAR_MMI_2019-09
Cimarron
Crested-Butte
Crested-Butte-South
Gunnison-City
Kebler-Pass
Lake-City-and-Area
Land_Almont
Land_CB
Land_CBRural
Land_CBS
Land_Cimmaron
Land_GunnCity
Land_GunnRural
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 September 2019.

So what does all this mean to you?

In conclusion, the month of September has outdone itself, with more properties being sold than that of the previous months. It has also outdone itself when comparing its data from that of last year of the same month.
There have also been a lot of positive changes that seemed to break the normal pattern of that from the first quarter of the year. Namely, having single family homes being the property type of choice, when in past months townhouses and condos where the hot ticket properties sought after. Also, we can see that Mt. Crested Butte has really been showing great sales, with numbers of properties being sold going up and average sales prices for single family homes reaching more than a million dollars. We can only hope that when winter comes, and more inflow of tourists come in, sales will increase even more.

 Pumpkin Patch Event 2019
 Saving On Candy For Halloween
 Crested Butte’s Zombie Prom
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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