September 2020 will be remembered for quite some time in Crested Butte and Gunnison real estate. 121 properties totaling $78.7M changed hands last month. Compare that to 56 and $31.4M in 2019… That activity pushed the totals for the first three quarters of 2020 to 463 transactions and $271.4M, compared to 434 and $226.3M last year. Just a month ago, the number of transactions were still trailing 2019 levels. The pent-up demand of buyers who weren’t able to purchase properties during the Covid shutdown this spring, combined with low interest rates and “Zoom buyers” (buyers who are realizing newfound opportunities to work from home), added up to a busy summer which appears to be continuing into the autumn. We are also starting to see some property types that have had slow sales (for instance vacant land and the Grand Lodge) start to pick up again. 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. 9/30/2018 through 9/30/2019 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: The already tight inventory in CB South got even tighter compared to one month ago, and the majority of listings are currently under contract.
- Mount Crested Butte (All Residential): In this area, nearly a third of the homes and condos for sale are under contract, as they were a month ago. For condos only, see below:
- Mount Crested Butte (Condos/Townhomes): As above.
- Crested Butte: The median sales price in downtown Crested Butte is now at $1.275M.
- Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, Meridian Lake and Trapper’s Crossing. 31 of the 71 listings are currently under contract.
- Gunnison: There are only 42 listings in the city of Gunnison right now, and 25 of those 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.
- 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): Compared to the start of 2020, there are 4X more vacant land listings under contract currently (although winter does tend to be slower for land sales). Either way, land sales are definitely picking up, at least a little.
- 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, September 2020
Crested Butte/ Gunnison Land Sales, September 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.