January 2019: Market Update

Current Market Conditions for January 2019

Last month was traditionally slow, both in terms of new listings and sales, while folks enjoy the holidays and spend time with family. That is about to change with our busy season upon us.

There are currently 5 single family homes over $1 million under contract, 3 less than last month. Condos and properties under a million remain in high demand and continue to go under contract quickly.

Sales

We experienced 6 single family home and 5 condo/town home sales in the upper valley in December, two of which were our team’s listings. These 11 sales totaled $11,140,000, and were down from 29 the previous month. Sales ranged from a studio unit in the Grand Lodge selling for $165,000 to a beautiful custom-built home in the town of Crested Butte selling for $3,850,000.

Land sales remained strong throughout the off season with 11 sales in December totaling $3,596,000, one of which was our team’s listing that sold for full price. Prices ranged from a Buckhorn Ranch lot for $65,000 to a lot on the bench above town for $1,200,000.

SF = single family residence

Active Listings

We are starting to see a slight improvement daily with more inventory coming onto the market in anticipation of our busy winter season and higher prices overall.

Currently there are 19 single family homes on the market in the town of Crested Butte, down two from December. Mt. Crested Butte has 25 active homes, up three from last month. Mt. Crested Butte condo and town home inventory had the biggest increase in listings with 56 active condos and town homes on the market, up nine from November. Rural Crested Butte inventory has not changed much from November with 55 single family homes and 13 condos and town homes on the market. Crested Butte South continues to have extremely low inventory with 6 single family homes and only 8 condos/town homes available.

SF = single family residence

Leading the Market

Our team was honored to help more people in the valley than anyone else in 2018. Our activity earned us the #1 spot with 77 transactions and #2 for sales volume totaling $34,953,810.

Bluebird Real Estate rings in the New Year as the market leader of listing volume with 126 active listings and a total of over $135 million. Crested Butte Collection represents nearly 1/3 of these listings*. We begin 2019 very thankful for all our clients, past, present and future.

*Source: CREN January 4, 2019

Source: CREN. All reported statistics were not necessarily listed/sold by Crested Butte Collection. Information is intended only to show trends in the area.