April 2019 Market Update

Current Market Conditions for April 2019

March was a busy month with a 45% increase in condos that went under contract, a 60% increase in single family home sales, and a 33% increase in condo and town home sales. 

There are currently 5 single family homes over $1 million under contract, 2 less than last month. One of these properties is our listing in Almont and another is an amazing home in the town of Crested Butte where we represent the buyers. Another 10 single family homes under $1mil are under contract representing a total listing volume of $13,920,000, two of which we are assisting both buyers and sellers (one is not listed publicly with an asking price of $725,000). There are currently 16 condo/town homes under contract, compared to 11 last month, for a listing volume of $6,417,700. Two of these our team represents the sellers and one the buyer. 

Sales

We experienced 8 single family home and 8 condo/town home sales in the upper valley in March, two of which were our team’s listings and with 3 Lapis Lane we assisted both buyers and sellers. These 16 sales totaled $12,222,400, and were up from 11 the previous month. Sales ranged from a studio unit in the Grand Lodge selling for $117,500 to a truly unique fully renovated historic home in the town of Crested Butte selling for $1,575,000.

Land sales slowed a bit with 5 sales in March totaling $2,321,400, down from 8 last month. Prices ranged from a .31 acre parcel in Crested Butte South for $157,000 to a .26 acre lot in town bordering ranch land for $1,125,000.

SF = single family residence

Active Listings

Inventory is down slightly from March, however in the anticipation of summer, we are expecting many new listings coming on the market in the next couple of months.

Currently there are 17 single family homes on the market in the town of Crested Butte, down one from March. Mt. Crested Butte has 19 active homes, down 1 from last month. Mt. Crested Butte condo and town home inventory was down two from last month with 70 active condos and town homes on the market. Rural Crested Butte inventory has 52 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 5 condos/town homes available.

SF = single family residence

Leading the Market

So far in 2019 our team has sold $7,181,500 representing 6.67% of the market, 2% more than any other agent in Gunnison County. We currently have another $9,453,200 under contract due to close soon.

*Source: CREN March 31, 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.