October 2020 was another exceptionally active month in local real estate. 120 transactions were recorded, totaling $82.5M, more than doubling the 58 transactions and $33.6M from 2019. As I mentioned in last month’s market report, the combination of low interest rates, low inventory, more buyers able to “work from home”, and buyer’s desire to have a safe place to live/visit has resulted in the busy market we’re seeing. Even now, in what is traditionally an “off-season” prior to the ski area opening, we’re still seeing many properties quickly go under contract. 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. 10/31/2018 through 10/31/2019 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: Currently, there is only one property for sale in this entire area. One. Several years ago, that number would have been 30-40. Call me if you’re even remotely considering selling your home in CB South.
- Mount Crested Butte (All Residential): Properties near the ski area continue to sell at a brisk pace. For condos only, see below:
- Mount Crested Butte (Condos/Townhomes): As above, although condotels like the Grand Lodge continue to lag behind other property types.
- Crested Butte: Downtown Crested Butte continues to lead the way, with a median sales price of $1.3M, and several homes selling for eye-popping numbers.
- Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, Meridian Lake and Trapper’s Crossing. The big news here is the recent listing of 12 homesites in “Aspen Ridge” at Skyland, where the old “Upper Upper” trail used to be.
- Gunnison: Two thirds of the listings in Gunnison are under contract.
- Gunnison Area: This includes areas such as Dos Rios, Ohio Meadows, Cranor Hill, and Hartman Rocks. Along with downtown Gunnison, the area surrounding Gunnison has been extremely active. As prices in Crested Butte continue to rise, I expect to see this trend continue, especially north of Gunnison.
- 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): Vacant land sales in Crested Butte continue to gain momentum due to the lack of residential inventory. As mentioned above, the big news here is the recent listing of 12 homesites in “Aspen Ridge” at Skyland, where the old “Upper Upper” trail used to be.
- 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, October 2020
Crested Butte/ Gunnison Land Sales, October 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.