Market Update – February 2021

Dated: February 25 2021

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Disclaimer: Please note the data above reflects January 2020 & 2021.

Besides Valentine’s Day and the long holiday weekend, there has not been a lot of activity going on this month. The recent storm has brought a nice amount of snowfall which has kept the tourists coming to town. With March around the corner, we are expecting an influx of Spring Breakers from across the country.
 
As for real estate, despite not having too much activity, sold properties are still relatively high. The stats can be seen below:
 

Disclaimer: Please note the data above reflects January 2020 & 2021.

For Crested Butte South there were two properties that sold in January 2020 and six properties that sold in January 2021. Two of which were single family homes, one was a commercial property and three are land properties. 341 Bryant Avenue was an example of a land property that sold which I represented the seller.
 
Overall, there are 30 properties that are on the market for single family homes, townhouses, condos, and land.
 

Disclaimer: Please note the data above reflects January 2020 & 2021.

For Crested Butte  there were only three properties that sold in January 2020 and eight properties that sold during the month of January 2021. Two of which were commercial properties, two were townhouses/condos, two land properties and two single family homes, one of which was located at 25 Whiterock Avenue, which I represented the sellers. There were also 12 properties that went under contract.
 
Overall, January 2021 clearly outperformed January 2020 by a landslide, except on the median days these sold properties were on the market. January 2020 had these sold properties on median 150 days while in January 2021, on median, 280 days. It was only longer because January 2021 had more properties sold.
 
Currently there are a total of 42 single-family homes, townhouses and land properties available on the market.
 

Disclaimer: Please note the data above reflects January 2020 & 2021.

Based on the data we have above, January 2021 was exceptionally good in terms of sales for Gunnison County. There were 70 properties that sold versus the 26 properties that sold in January 2020 and there were 137 properties that went under contract. These sales for January 2021 accumulated to $51,421,400. Overall, there are currently 420 single family homes and townhouses and condos available in the market.
 

Disclaimer: Please note the data above reflects January 2020 & 2021.

Finishing the report we have Mt. Crested Butte, in January 2021 there were a total of 15 properties that sold. Three of which were single family homes, 11 were townhouse and condos and we had one land that sold accumulating to a total of $8,995,000. For pending items there are 52 items that went under contract. January 2021 outperformed January 2020 but there are far less properties this year that are currently available in the market. Currently, there a total of 67 properties that are on the market for single family homes, townhouses, condos, and land.
 
Click below to see all the reports from the Gunnison Country Association of Realtors:
Almont
CAR-Colorado_GCAR_MMI_2021-01
Cimarron
Crested-Butte-South
Crested-Butte
Gunnison-City
Kebler-Pass
Lake-City-and-Area
Land_Alm
Land_CB
Land_CBR
Land_CBS
Land_Cim
Land_GunnC
Land_GunnR
Land_Keb
Land_LC
Land_Pow
Land_QC
Land-MtCB
Mount-Crested-Butte
Powderhorn
Quartz-Creek
Rural-Crested-Butte
Rural-Gunnison
Rural-Mount-Crested-Butte

Disclaimer: Please note the data above reflects January 2020 & 2021.

 

So what does all this mean to you?

To sum up everything, January 2021 was a great month in terms of sales. There seems to be an ongoing trend of many pending from the previous months that are closing in the following months, thus adding up to the high sold volume. This trend has been going on since May of 2020 and doesn’t seem to be slowing down. These sales vary and have a wide variety of property types, from single family homes, commercial properties, land, townhouses and condos, though like in most months, the best sellers for Mt. Crested Butte have been condos.
 
I have noticed that there are in certain areas, like Crested Butte and Mt. Crested Butte which have less number of properties that are open on the market this year compared to that from January 2020. This could be because of the season; normally winter is a slower time for sales. With the pandemic, changing of government, and as we approach mud season and off season, we can expect lesser number of visitors coming in.
 
On the bright side, there are still a lot of pending listings that will seep through for next month. Currently, I don’t see the trend going down just yet. The real estate business has been on a roll for quite some time, and I can sense a strong demand from buyers.
 
Check on the link Market Update – January 2021, to learn about last month’s stats.
Click on the links below for related topics for the month of August 2020:
Heather Woodward receives Chairman’s Circle – Gold Agents Total GCI – 2020 Annual Annual Winner
Should you consider selling during a pandemic?
Working from home – My 3 Best Tips
 
We also have a few articles of communities that you might be interested in:
Columbine Condos
Hidden River Ranch
Red Mountain Ranch
The Plaza Condominiums
 
If you are thinking about making a real estate purchase, or if you are ready to sell, I’m here and ready to work with you, from beginning to end. I’m available to provide virtual tours and virtual meetings, where I can answer any questions that you may have about Crested Butte and the surrounding communities.
 
Our doors are open! Come visit us in the office from Monday through Friday. Who do you know that wants to buy or sell a property? Let Heather Woodward Realtor® help. You can contact me on my cell phone (970) 596-1394 or send me an email at Heather@heatherwoodwardrealtor.com.

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Heather Woodward

Heather Woodward is an award-winning, full-time Realtor and resident in the valley. Licensed since 2005, she has been a consistent top producer for Berkshire Hathaway HomeServices in the Crested Butte....

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