Birdseye View | Market Snapshots | Summer 2024
Bluebird leads the market this year with the most properties sold and the highest volume of sales in the Gunnison Valley. With two offices serving both ends of the valley, the Bluebird sign is well recognized as being the symbol for exceptional marketing and successful results for our clients. Check out our Birdseye View for both Gunnison and Crested Butte.
Gunnison Market Snapshot
The big change from fall to winter is underway, as Western Colorado University recently celebrated homecoming and the bright orange jackets of seasonal hunters have infiltrated the backcountry.
Although the number of sales throughout the Gunnison region have lessened slightly, the demand for homes remains high and prices are firm. There have been 25 home sales in Gunnison so far this year and the average price is just over $600,000, with only twelve properties currently on the market.
The rural Gunnison market is experiencing the most activity with 39 sales to date averaging a new high average price over $1 million and a healthy inventory of 41 single family homes. The condominium market has increased inventory with 14 offerings and 24 sales to date averaging a new high of over $400,000.
Land sales remain soft with 22 sales through the third quarter averaging $260,000, with an increasing inventory of 72 properties.
Commercial sales have picked up with eight transactions so far averaging nearly $950,000 and 12 properties on the market. Throughout the county, property sales are steady with home sales averaging over $1.3 million and only 162 currently on the market.
With interest rates beginning to ease toward six percent and below, we will see renewed activity from buyers who have been on the sidelines saving and waiting for more favorable conditions. Coupled with added inventory of available properties, we expect a vibrant holiday season into the new year following the November elections.
Bluebird leads the market this year with the most properties sold and the highest volume of sales in the Gunnison valley. With two offices serving both ends of the valley as well as ranch properties throughout the county, the Bluebird sign is well recognized as being the symbol for exceptional marketing and successful results for our clients.
Bluebird is the exclusive regional member of Leading Real Estate Companies of the World, the largest network of independent brokerages and available properties in the world.
View the full report with graphs here.
Crested Butte Market Snapshot
Our transition to the winter season has begun and the hardcore skiers are tuning up their skis for early season tracks. One beautiful aspect of our geography is the very defined seasons and passages, especially from fall to winter. The fall colors were magical and vibrant following a strong snowpack from our last winter.
The real estate market continues to shape in a normalizing fashion. Sales are steady and inventories of available properties are growing to adequate supplies. The average price for a home in Crested Butte hovers just above $3 million with a couple dozen properties currently on the market.
Homes on the mountain average $2.2 million with only 13 available listings. Homes surrounding the core, such as Skyland and Trappers Crossing average $2.8 million with 16 sales through the third quarter of this year. Crested Butte South homes are in short supply with nine sales to date averaging $1.1 million.The mountain condo market is solid with 60 sales averaging $675,000 with about the same number of available properties. Land offerings have increased to a three year supply as purchasers have paused with only 36 sales so far in the Crested Butte area averaging just over $600,000.
As a thriving emerging market, the Crested Butte area is experiencing dynamic changes which will enhance quality of life for its residents and visitors. The Red Lady exchange finalized the extinguishment of mining in perpetuity on Mt Emmons. A significant apartment development is in final planning stages south of downtown, the Community School is adding capacity with much needed expansion and a new fire station is well underway. There are lots of renovation projects downtown making way for new eateries and gathering places.
Bluebird leads the market this year with the most properties sold and the highest volume of sales in the Gunnison valley. With two offices serving both ends of the valley as well as ranch properties throughout the county, the Bluebird sign is well recognized as being the symbol for exceptional marketing and successful results for our clients.Bluebird is the exclusive regional member of Luxury Portfolio International, the leading network of independent brokerages and luxury properties in the world.
View the full report with graphs here.