As mentioned in my previous market report, January was busy, with a large number of properties going under contract. In February, we saw many of those properties sell- in fact, February 2020 was the busiest February in at a dozen years. 40 properties changed hands, compared to 36 last year. Many of those properties were less expensive condos in buildings like Timbers and Three Seasons in Mount Crested Butte- exactly the type of property that is in short supply and high demand. Meanwhile, mortgage rates are near historic lows- this is a great time for buyers to take advantage of low rates. 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. 2/28/2018 through 2/28/2019 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 remains limited in CB South, with just 14 active listings, and 5 of those under contract.
- Mount Crested Butte (All Residential): As mentioned above, the Mt Crested Butte real estate market has been busy thus far in 2020. For condos only, see below:
- Mount Crested Butte (Condos/Townhomes): Choices remain limited under $500,000. Curiously, Grand Lodge condos have been slow to sell recently, with 50 units on the market.
- Crested Butte: Sales in town remain steady as seen in the graphs below.
- Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, Meridian Lake and Trapper’s Crossing. 5 of the 67 listings are currently under contract, with a median price over $1 Million.
- Gunnison: Gunnison remains one of the busiest markets in the area, with many homes going under contract within just a few days- as evidenced by the short days on market in the graphs below.
- Gunnison Area: This includes areas such as Dos Rios, Ohio Meadows, Cranor Hill, and Hartman Rocks.
- 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 weak, perhaps due to high building costs in the area. On the other hand, buyers may find great value on vacant land.
- 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, February 2020
Crested Butte/ Gunnison Land Sales, February 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.
