Market Update – January 2021

Dated: January 21 2021

Views: 13

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

Though there were no major celebrations during the new year, the town is getting busier with each passing day in January. People are enjoying the snow and have come from many states to do some winter activities, despite having COVID restrictions still in place.
 
Regardless, restaurants and bars are 
open and people are skiing every day. Many people are enjoying Nordic skiing and snowmobiling. Temperatures tend to be very cold in the morning but most days, warm up and make it enjoyable to recreate outside. We’ve been getting snow at least once a week.
 
Besides that, there are also some fun activities from the 
Crested Butte Center for The Arts that locals and visitors can register for.
 
December 2020
 was a great month that summed up the whole of last year as being great for real estate. Below, one can see the stats of sales and properties that went under contract.
 

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

Starting off the report, we have Crested Butte. For the month of December, we had nine properties that went under contract and 11 properties that sold.  

 
For single family homes we have three sales located on 221 Maroon Avenue that sold for $2,500,000 on 12/1/2020, 505 Second Street that sold for $1,125,000 on 12/8/2020 and 926 Belleview Avenue that sold for $3,650,000 on 12/10/2020. There was also one commercial property located on 502 Whiterock Avenue that sold for $1,150,000 on 12/29/2020. Lastly, for land we have five properties, located on 257 Pyramid Avenue that sold for $1,300,000 on 12/9/2020 198 Pyramid Avenue that sold for $1,200,000 on 12/11/2020 206 Pyramid Avenue that sold for $1,210,000 on 12/16/2020, 184 Pyramid Avenue that sold for $1,210,000 on 12/28/2020 and lastly, 114 McCormick Ranch Road that sold for $2,500,000 on 12/29/2020.
 
December 2020 outperformed the prior year. The median days on the market for December 2019 was only 115while December 2020 had 426. These significantly better numbers for December 2019 were only due to the number of sales it had which was three and December 2020 had nine.
 
True to form, for Crested Butte properties, buyers like in most months tend to go for land properties over single family homes. Though the prices for single family homes sold have been above a million dollars.
 
Currently there are a total of 46 single family homes, townhouses, condos and land properties available on the market. 
 

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

 
Crested Butte South is another community that did good in December 2020, having eight properties under contract and 7 properties sold.
 
For single family homes we had two sold located on 2445 Bryant Avenue that sold for $781,600 on 12/17/2020 and 251 Neville Way that sold for $1,212,500 on 12/7/2020. For land two were sold. One located on 711 Zeligman Street that sold for $102,500 on 12/2/2020 and 988 Cascadilla Street that sold for $112,000 on 12/1/2020. For condos we had 4 sold located on 3 Elcho Avenue, Unit 1 that sold for $349,000 on 12/3/2020, 241 Gillaspey Avenue, Unit R3 that sold for $355,000 on 12/3/2020 and 778 Cascadilla Street, Unit A that sold for $530,000 on 12/30/2020. All in all, these properties accumulated a sold price of $3,442,600.
 
In total, comparing the stats to December 2019, the stats have definitely improved in December 2020. Currently there are a total of 34 single-family homes, townhouses and land properties combined available in the market.
 

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

Gunnison County had a total of 114 properties that sold during December 2020, far more than that from the 52 properties that sold during December 2019. The accumulated average sale price for December 2020 was $707,001 and the sum of all properties sold accumulated to $80,598,175. For single family homes for December 2020 we had 66 pending sales.
 
Currently there are a total 525 single family homes, townhouses, condos and land properties available on the market. 
 

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

For the last community we have Mt. Crested Butte, which had 24 properties sold and 15 properties that went under contract during the month of December 2020. Six of the sold listings were single family homes, 15 townhouses / condos and 3 land properties. 9 Castle was one of the townhouses that I managed to sell for my clients that sold for $849,000 on 12/15/2020. Mt. Crested Butte has always been a community that has a lot of activity in terms of sales and under contract properties. There are currently a total of 105 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_2020-12
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 December 2019 & 2020.

So what does all this mean to you?

Overall, December was a great month for 2020 to end with. We had a good number of sales and a good number of pending items that will reap good numbers for January 2021 to start with. In the graph below, year 2020 was an average year that more or less, had the same pattern as year 2019, despite the global pandemic.
 

 
Everything went down quite a lot in May 2020, with only 17 properties sold that month but then May 2020 was also the month that had a slight change in terms of pending items. That was the month where specifically in Crested Butte, the pending items for  single family homes were significantly higher.
 
Related Article: May’s Monthly Indicator Stats – Single Family Homes
 
Then in June and July the other communities started having greater numbers of sales and also had significantly higher under contract listings. The stats all go up after that point and outperformed 2019 and many past years in a landslide, having October 2020 stats with a total of 158 sold listings being the highest point.
 
Related Article: Market Update – November 2020
 
Despite going down on November and December 2020, the number of sales were still a lot higher than that of November and December of 2019. All and all, it seems like January 2021 will be a good month to start the year and I can see that the number of sales could be higher than that of January 2020 which had 26.

  • Check on the link Market Update – December 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 to CBMR for a ski trip?

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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