Winter Greetings from snowy Crested Butte to all my clients and friends! Hope this year finds you in a good place in your life and in good health! Crested Butte keeps getting powder days and the skiing has been awesome! Real estate sales are continuing to be strong with average prices STILL being less than most major ski areas.
The current situation of the real estate market in the Gunnison Valley is directly related to supply and demand. Overall, real estate sales in 2015 for the entire county certainly kept pace with the other western slope Colorado communities with Gunnison County logging in more than $245 million in real estate activity over the course of the 2015 year with approximately $13,103,900 in sales so far for 2016.
Total residential sales for 2015 were $204,814,079 and total vacant land sales totaled $40,907,770. The average list price for residential was $455,797 and the average sales price was $429,379. In comparison, 2014, total sales for the entire Gunnison County were were similar to 2015 with $205,546,091total sales volume ($167,392,570 of that residential sales and $26,032,471 were vacant land sales). The average residential list price for 2014 was $436,888 and the average sales price was $403,355.
In the Upper East River Valley, (Almont to Mt Crested Butte), there has been 4 single family homes sell so far in 2016 with a total value of $5,492,000 and an average sales price of $1,373,000. Single family home sales in 2015 for the Upper East River Valley, totaled $102,196,500 with an average list price of $981,270 and an average sales price of $912,468 (median list $727,000 and sales $690,000). In 2014, home sales were less with a total volume of $80,944,615 and average list price of $928,040 and sales price of $843,173 (median list $697,000 and sales $663,750) in the Upper East River Valley.
In our market, however, prices are continuing to increase, but they still haven't reached the numbers we saw in early 2000. Currently, in Gunnison County there are 492 residential listings actively for sale with a list value of $313,39,654 and 501 vacant land properties for sale ranging from less than 1 acre to large ranches with a total list value of $262,858,163. The commercial sector has been active as well with 59 active listings with a total list value of $41,265,698.
Thanks for reading my update. Feel free to contact me for a more in depth discussion about the current real estate market. If you are looking to buy or sell your next property in the Crested Butte or Gunnison area. or know of someone who is, keep me in mind as I would be happy to help!