May 6th Market Update – Gunnison and Crested Butte Real Estate
Jesse
It is absolutely beautiful and warm in Crested Butte today! It finally feels like spring. We had a mess of weather all week with rain, snow and wind, it was brutal. The snow is melting, probably too fast, thanks to the wind that brings the desert dust from Utah. You can really see it on the snow and on your car this time of year. However, with melting snow comes water! Let this serve as my annual PSA to check your crawl space to make sure it is staying dry during this melt off. There is a lot of ground water right now and it can find its way into your house and wreak havoc.
Despite the doom and gloom in the headlines, real estate is still rocking and rolling locally and nationally. With so much volatility in the markets, a lot of people feel that buying real estate is the safest investment as it is a tangible asset. The interest rates are affecting some borrowers as the prices continue to rise, but overall, there is still a lot of buying power. All of the economists that I am listening to are still predicting an average of 9% appreciation growth in home values through 2022. I have some detailed charts below with more information. Don’t forget that buying real estate is the best way to hedge against inflation.
April 1st – May 6th
Closings Almont to Mt. Crested Butte
Number Sold:41 Total Dollar Volume: $42,248,000 Median Sales Price: $850,000 Average Sales Price: $1,030,439 Lowest Sale: $179,500 (Studio Condo at The Grand Lodge) Highest Sale: $4,300,000 (New Construction Home in Downtown Crested Butte)
Under Contract – April 1st – May 6th Almont to Mt. Crested Butte
Number Pending: 29 Total Dollar Volume: $30,869,000 Median Listing Price: $695,000 Average Listing Price: $1,064,448 Lowest Price: $175,000 (Studio Condo in the Grand Lodge) Highest Price: $7,495,000 (Single Family Home and Guest House on 13 Acres)
Number Sold: 29 Total Dollar Volume: $12,826,700 Median Sales Price: $425,000 Average Sales Price: $442,300 Lowest Sale: $20,000 (Mobile Home, No Land in Gunnison) Highest Sale: $1,333,000 (Single Family Home in Wilderness Streams)
Number Under Contract: 25 Total Dollar Volume: $11,370,500 Median Listing Price: $471,500 Average Listing Price: $454,820 Lowest Price: $37,000 (Mobile Home, No Land Gunnison) Highest Price: $899,000 (Single Family Home in Dos Rios)
*Sales Data from CREN MLS and includes all types of properties, land, commercial and residential. Not all sales were not necessarily listed/sold by Signature Properties Ebner & Associates and are only intended to show local market trends in the area.*
