July 2020 was one of the busiest months in local real estate that I can remember. 64 transactions totaling $32.8M were recorded. Last year, those numbers were 51 and $22.6M. Meanwhile, pending contracts are roughly double that of one month ago in every geographical area, and in vacant land as well as residential, so August will be another busy month of real estate closings. I have some great contacts in other ski towns across the West, and they’re all reporting the same thing. If you aren’t already receiving my monthly newsletters which include my market reports and community updates, please click the button below:
The following year over year graphs compare the previous 365 days with the same period one year ago (i.e. 7/31/2018 through 7/31/2019 versus the same period from 2019 to 2020). With such a small market (sample size) these numbers can jump around, so it’s worth comparing these graphs over a period of time. My Gunnison and Crested Butte real estate market report archives can be found on this page. If you are looking for other statistics, such as inventory, or a more specific neighborhood analysis, please Contact Me.
- Crested Butte South: Inventory is very tight in CB South, with only 24 listings and 8 of those under contract.
- Mount Crested Butte (All Residential): The number of properties under contract doubled, to 30. For condos only, see below:
- Mount Crested Butte (Condos/Townhomes): Inventory rose slightly, but so did the number of properties under contract.
- Crested Butte: Summer is always especially active in downtown real estate, and 2020 is no different.
- Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, Meridian Lake and Trapper’s Crossing. A whopping 24 properties are under contract currently.
- Gunnison: Gunnison has almost identical numbers as it did one month ago.
- Gunnison Area: This includes areas such as Dos Rios, Ohio Meadows, Cranor Hill, and Hartman Rocks. Along with downtown Gunnison, the surrounding area has been extremely active.
- Total Residential Sales: This category covers our entire MLS area, including Lake City, Pitkin, Crested Butte, Gunnison, and points between.
- Land Sales (Upper valley from CB South through Mount Crested Butte): Land sales remain slow, with almost 4 years of inventory. That said, downtown Crested Butte had a $2M+ sale (and 2 others over $1M), and Red Mountain had a $1M sale. Buyers can afford to be picky, but when they see what they want, they’ll make it happen.
- Land Sales (Total): This category also covers our entire MLS area, including Almont, Lake City, Pitkin, Crested Butte, Gunnison, and other parts of the Crested Butte/Gunnison area.
Crested Butte/ Gunnison Home Sales, July 2020
Crested Butte/ Gunnison Land Sales, July 2020:
Source: Gunnison Country Association of Realtors’ MLS/ CREN. Reported sales not necessarily sold or listed by Frank Konsella and are intended only to show area trends.