Market Update – November 2020

Dated: November 30 2020

Views: 28

For the month of November, we are having wonderful weather here with temperatures that range from 50 degrees on sunny days then drop to chillier evenings so far. We had a couple of cloudy days but most often than not, we have had a lot of gorgeous sunshine and wonderful clear blue skies.
 
For the first few weeks in Crested Butte, it did feel like off-season with some tourists here and there, and a few shops that were closed. As we are heading towards December, there is a surge of tourists that are coming in to visit CBMR and the other resorts for the winter activities. These are the times where looking back to the previous two weeks in town seem to be like night and day. The fall off season has been a shorter off season in years past and despite COVID, this one wasn’t much different.
 
As for real estate, there have been a lot of sales. We still have a lot of listings under contract that could mean that there will still be a good amount of sales for next month. The numbers of active listings opened in the market have dropped but just a tad bit, compared to last month. Most of the listings that are in the market have been opened prior to October 2020. This could be that the home owners were waiting on the outcome of the new presidency, or, that it is off season. When tourists come in for the winter activities, that will be the time people will start opening their property to the market. Below is the table of stats for the month of October 2020 and 2019.

Disclaimer: Please note the data above reflects October 2019 & 2020.

For Crested Butte there were 11 properties that sold during the month of October. Six of which are stick built and located at 329 Maroon Avenue that sold for $1,300,000 on 10/30/2020, 329 Whiterock that sold for $1,590,000 on 10/23/2020, 715 Sopris Avenue that sold for 10/6/2020 on $1,885,000, 215 Butte Avenue that sold for $3,900,000 on 10/2/2020, 304 2nd Street Street that sold for $650,000 on 10/12/2020 and 719 Whiterock Avenue that sold for $1,050,000 on 10/08/2020. Three of which are townhouses and condos located at 21 Beckwith Avenue that sold for $590,000 on 10/2/2020, 705 Red Lady Avenue, Unit 2 that sold for $775,000 on 10/28/2020 and 725 Red Lady Avenue, Unit 1 that sold for $894,900 on 10/19/2020. Lastly, two are land properties located at 33 Aperture Lane that sold for $1,100,000 on 10/13/2020 and 230 Pyramid Avenue that sold for $1,295,000 on 10/14/2020
 
October 2020 has got to be a great month for Crested Butte as most of the properties sold for more than a million and the average sales price is $1,366,354 compared to October 2019 that only had an average sales price of $795,750.
 
Currently there are a total of 59 single-family homes, townhouses and land properties available in the market.
 

Disclaimer: Please note the data above reflects October 2019 & 2020.

In Crested Butte South we had 10 properties that sold during the month of October 2020. For single family homes we had one property sold located at 63 Stephenson Place that sold for $710,000 on 10/08/2020. For townhomes and condos we had three properties sold at 36 Endner Place, Unit 1 that sold for $515,000 on 10/16/2020, 7 Timberline Way, Unit 2 that sold for $545,900 on 10/7/2020 and7 Timberline Way, Unit 1 that sold for $560,000 on 10/16/2020. For land we had five properties sold located at 67 Cement Creek Road that sold for $145,000 on 10/21/2020, 14 Cement Creek Road that sold for $150,000 on 10/21/2020, 247 Elcho Avenue that sold for $151,562 on 10/19/2020 and 235 Elcho Avenue that sold for $169,265 on 10/19/2020.
 
From the table above we can see that there are more properties sold in October 2020 summing up to 11 than that of October 2019 which only had six. As for pending listings the number sort of fluctuates from month to month. July we had 7, August we had 14, September we had 10 and for October we had 13.
 
Overall, there are 48 properties that are on the market for single family homes, townhouses, condos, and land.
 

Disclaimer: Please note the data above reflects October 2019 & 2020.

For Gunnison, we had a total of 117 properties that went under contract and 158 properties sold in October 2020 compared to the 68 properties sold on October 2019. With these record high numbers of sold properties, our sum of all properties sold managed to reach a whopping $91,997,257, despite a $64,853 difference in terms of average sales prices for October 2020 and October 2019.
 
Overall, there are currently a total of 609 in the county for single family homes, townhouses, condos and land available in the market.
 

Disclaimer: Please note the data above reflects October 2019 & 2020.

Ending the report we have Mt. Crested Butte. In this area, we had 28 sold properties and 44 homes that went under contract for the month of October 2020.
 
This has got to be a great year for Mt. Crested Butte as most months sales are of double digits and so far October 2020 and September 2020 has had the most number of sales amounting to 28. Checking back a few years of the same month, it is not uncommon to have high numbers of sales for this community.
 
Currently there are a total of 110 single-family homes, townhouses and land properties available in the market.
 
Click below to see all the reports from the Gunnison Country Association of Realtors:
Almont
CAR-Colorado_GCAR_MMI_2020-10
Cimarron
Crested-Butte-South
Crested-Butte
Gunnison-City
Kebler-Pass
Land_Alm
Land_CB
Land_CBR
Land_CBS
Land_Cim
Land_GunnC
Land_GunnR
Land_Keb
Land_LC
Land_MtCB
Land_Pow
Land_QC
Lake-City-and-Area
Mount-Crested-Butte
Powderhorn
Quartz-Creek
Rural-Crested-Butte
Rural-Gunnison
Rural-Mount-Crested-Butte

Disclaimer: Please note the data above reflects October 2019 & 2020.

 

So what does all this mean to you?

So far so good, sales seem to be relatively high both in number of sales and average sales prices for most communities. One would think that by the numbers, sales would go down, but comparing all the months this year in terms of sales and pending items, this doesn’t seem to be the case. In fact we can expect more sales in November. We can just hope that the number of pending items keeps it numbers.
 
These seems to be unpredictable times, despite election and the winter season, there seems to be no stopping people from buying homes. Hopefully this trend continues next month.
 
With all this aside, year 2020 has been really good for real estate. The trend has been a little different in a great way and has even outperformed many years in the past.

  • Check on the link Market Update – October 2020, to learn about last month’s stats.
  • If you’re interested in visiting the community and aren’t sure how to plan your vacation, how about going CBMR for a ski trip? It opening date is set for November 23rd this year.We also have a few articles of communities that you might be interested in:

Crested Butte Meadows
Crested Butte North
Gold Link

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 the Heather Woodward Team help. You can contact me on my cell phone (970) 596-1394 or send me an email at Heather@TheHeatherWoodwardTeam.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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