MICROMARKET REPORT |
Crested Butte • Quarter 3 2019
GUNNISON COUNTY 2
1 3
4
1.
Town of Crested Butte
2.
Mt. Crested Butte
3.
Crested Butte South
4. Almont 5.
City of Gunnison
5
Pictured on cover: 1482 County Road 4, Crested Butte
coloradomicroreports.com
CRESTED BUTTE market update The Crested Butte Market is located within Gunnison County, the fifth largest county by area in Colorado with the largest body of water in the state - the Blue Mesa Reservoir. Comprised of 78% public lands and largly surrounded by several Wildnerness areas, Gunnison County is truly a meca for adventurous types. Whether you’re extreme skiing or mountain biking on one of the world-class trails on Mt. Crested Butte, or enjoying premier fishing on the Gunnison River down valley, there is year-round enjoyment for everyone.
GUNNISON COUNTY
LIV Sotheby’s International Realty produces a Micro Market Report focused on the Crested Butte Market.
January through September
2018
2019
% Change
$606
$490
-19%
Sold Single Family
195
162
-17%
Sold Condos/TH/DP
186
134
-28%
$222
$187
-16%
$393,921
$490,971
25%
95.6%
94.0%
-2%
$238,716,305
$240,576,096
1%
Sold Listings (All Properties)
Average Days on Market Average Price % Sold Price to List Price Total Dollar Volume Sold
All Properties
Known as “The Last Great Ski Town” and “The Wildflower Capital of Colorado”, Crested Butte draws buyers who are looking for a true mountain lifestyle, without the unwanted distractions of larger resort areas. Many second-home owners within Gunnison County come from the Front Range and southern states because of the abundant adventures, natural beauty, and peaceful ease of life.
resorts.livsothebysrealty.com
Based on data from the Gunnison County Association of Realtors MLS, Colorado Real Estate Network (CREN). Verify with a local Realtor. All information is deemed reliable but not guaranteed. Data maintained by CREN MLS may not reflect all real estate activity in the market.
MICROMARKET REPORT | Crested Butte 2019 • COLORADOMICROREPORTS.COM
TOWN OF CRESTED BUTTE January through September Average Price
2018 $722,260
$1,336,751
85%
$453
$604
33%
193
161
-17%
$2,090,000
$4,461,500
113%
34
34
0%
94.3%
94.4%
0%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
2019
All Properties 706 BelleviewAvenue, Crested Butte
TOWN OF CRESTED BUTTE January through September
2018
2019
Average Price
$1,077,219
$1,802,041
67%
$549
$724
32%
221
157
-29%
$2,090,000
$4,461,500
113%
15
17
13%
93.6%
95.3%
2%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
4
% Change
The number of times the record for the highest sale price to date in the Town of Crested Butte was broken so far in 2019. (LIV Sotheby’s Int’l Realty represented 3 of these homes, and brought a buyer for two!)
Single Family Homes
TOWN OF CRESTED BUTTE January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Condos, Townhomes, Duplexes
2018
TOWN OF CRESTED BUTTE % Change
2019
January through September
2018
2019
Average Price
$200,000
$1,170,000
485%
Average Price per Acre
$2,857,143
$4,538,462
59%
53
237
347%
$200,000
$1,475,000
638%
1
5
400%
100%
91.0%
-9%
$496,226
$342,500
-31%
$440
$406
-8%
119
78
-34%
Average Days on Market
$964,250
$435,000
-55%
Highest Price
12
6
-50%
Properties Sold
96.4%
94.8%
-2%
% Sold Price to List Price
% Change
Residential / Commercial Lots
coloradomicroreports.com
MT. CRESTED BUTTE January through September Average Price
2018 $476,267
$633,103
33%
$353
$415
18%
222
197
-11%
$2,365,250
$5,300,000
124%
155
88
-43%
96.7%
90.6%
-6%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
2019
All Properties 17 Wildhorse Trail, Mt. Crested Butte
MT. CRESTED BUTTE
$5.3M
January through September
2018
Average Price
$1,049,675
$1,060,222
1%
$366
$397
8%
277
200
-28%
$2,365,250
$2,170,000
-8%
27
18
-33%
96.7%
95.5%
-1%
Average Price per Square Foot Average Days on Market Highest Price
The highest sale to date in Mt. Crested Butte was a parcel of 156 acres that sold for $5.3M, causing the average land price to jump 112% compared to 2018.
Properties Sold % Sold Price to List Price
% Change
2019
Single Family Homes
MT. CRESTED BUTTE January through September
2018
% Change
2019
MT. CRESTED BUTTE January through September
Average Price
$375,630
$795,188
112%
Average Price
Average Price per Acre
$432,469
$584,735
35%
Average Price per Square Foot
428
555
30%
Average Days on Market
$1,050,000
$5,300,000
405%
23
9
-61%
Properties Sold
95.2%
66.0%
-31%
% Sold Price to List Price
Average Days on Market Highest Price Properties Sold % Sold Price to List Price All Land
Highest Price
2018
% Change
2019
$350,864
$488,289
39%
$349
$426
22%
163
144
-12%
$1,533,500
$2,375,000
55%
105
60
-43%
97.1%
96.4%
-1%
Condos, Townhomes, Duplexes
MICROMARKET REPORT | Crested Butte resorts.livsothebysrealty.com
2019 • COLORADOMICROREPORTS.COM
RURAL CRESTED BUTTE January through September Average Price
2018 $578,734
$669,210
16%
$358
$431
20%
258
219
-15%
$2,200,000
$2,520,000
15%
78
60
-23%
94.2%
94.6%
0%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
46%
% Change
2019
The highest sold price for condo/townhome properties in Rural Crested Butte increased by 46% January through September 2019 compared to that of 2018 due to a significant sale of $1.375M.
All Properties
RURAL CRESTED BUTTE January through September
2018
2019
Average Price
$1,237,547
$1,326,750
7%
$364
$461
27%
252
254
1%
$2,200,000
$2,200,000
0%
21
16
-24%
95.4%
93.6%
-2%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
Single Family Homes
590 Red Mountain Ranch Road, Crested Butte
RURAL CRESTED BUTTE January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Condos, Townhomes, Duplexes
2018
RURAL CRESTED BUTTE % Change
2019
January through September
2018
% Change
2019
$595,071
$555,750
-7%
Average Price
$299,746
$388,396
30%
$339
$403
19%
Average Price per Acre
$301,574
$507,038
68%
142
119
-16%
Average Days on Market
277
229
-17%
$945,000
$1,375,000
46%
Highest Price
$1,850,000
$2,520,000
36%
7
10
43%
Properties Sold
50
33
-34%
95.8%
98.2%
3%
91.7%
95.0%
4%
% Sold Price to List Price All Lots and Land
coloradomicroreports.com
CRESTED BUTTE SOUTH January through September Average Price
2018 $284,138
$379,963
34%
$281
$303
8%
212
134
-37%
$915,000
$910,000
-1%
61
47
-23%
97.3%
96.7%
-1%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
2019
All Properties 111 Alpine Court, Crested Butte South
CRESTED BUTTE SOUTH January through September
88%
Average Price
Average Price Average Price per Acre Average Days on Market Highest Price Properties Sold % Sold Price to List Price Residential /Commercial Lots
6%
$288
$305
6%
137
154
12%
$915,000
$910,000
-1%
12
13
8%
97.0%
96.8%
0%
Properties Sold % Sold Price to List Price Single Family Homes
CRESTED BUTTE SOUTH 2018
$707,923
Average Days on Market Highest Price
% Change
2019
$670,708
Average Price per Square Foot
January through September, 2019, the average price for residential lots in Crested Butte South increased by 88% compared to that of 2018.
January through September
2018
% Change
2019
CRESTED BUTTE SOUTH January through September
$92,827
$156,178
68%
Average Price
$229,280
$431,428
88%
Average Price per Square Foot
278
112
-60%
$269,000
$374,400
39%
33
19
-42%
96.3%
96.4%
0%
Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
2019
$397,044
$429,616
8%
$285
$319
12%
135
165
22%
$580,000
$580,900
0%
15
12
-20%
98.2%
96.9%
-1%
Condos, Townhomes, Duplexes
MICROMARKET REPORT | Crested Butte resorts.livsothebysrealty.com
2019 • COLORADOMICROREPORTS.COM
CITY OF GUNNISON January through September Average Price
2018 $268,649
$326,671
22%
$190
$214
13%
175
179
2%
$950,000
$1,710,000
80%
85
99
16%
96.4%
97.1%
1%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
2019
All Properties 126 Diamond Lane, Gunnison
CITY OF GUNNISON January through September Average Price
2018 $350,978
$377,404
8%
$201
$232
15%
91
98
8%
$612,000
$683,000
12%
32
35
9%
96.9%
96.7%
0%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
80%
% Change
2019
The highest sold price recorded in the City of Gunnison increased 80% in Q3 of 2019 compared to Q3 of 2018 with the sale of commercial land for $1.71M.
Single Family Homes
CITY OF GUNNISON January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Condos, Townhomes, Duplexes
2018
CITY OF GUNNISON % Change
2019
January through September
$204,451
$237,751
16%
Average Price
$189
$226
20%
Average Price per Acre
140
161
15%
Average Days on Market
$324,500
$370,000
14%
Highest Price
31
33
6%
Properties Sold
97.6%
98.8%
1%
% Sold Price to List Price
2018
% Change
2019
$127,861
$384,500
201%
$294,601
$441,984
50%
311
524
68%
$259,000
$1,710,000
560%
8
12
50%
94.7%
97.5%
3%
Residential /Commercial Lots
coloradomicroreports.com
ALMONT & RURAL GUNNISON January through September Average Price
2018
$330,762
-13%
$207
$208
0%
208
174
-16%
Average Days on Market
$5,323,750
$1,750,000
-67%
Highest Price
108
105
-3%
95.6%
96.2%
1%
Average Days on Market
Properties Sold % Sold Price to List Price All Properties
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
Average Price
$503,533
$529,797
5%
$230
$237
3%
229
119
-48%
$1,100,000
$1,650,000
50%
44
41
-7%
95.6%
97.0%
1%
Average Price per Square Foot
Properties Sold % Sold Price to List Price
% Change
2019
Single Family Homes
ALMONT & RURAL GUNNISON January through September
January through September
$381,961
Average Price per Square Foot
Highest Price
% Change
2019
ALMONT & RURAL GUNNISON
2018
% Change
2019
ALMONT & RURAL GUNNISON January through September
2018
% Change
2019
$211,025
$320,695
52%
Average Price
$311,119
$162,535
-48%
$180
$221
23%
Average Price per Acre
$60,214
$60,606
1%
123
139
13%
Average Days on Market
243
276
14%
$467,000
$730,000
56%
Highest Price
$5,323,750
$1,750,000
-67%
16
13
-19%
Properties Sold
37
36
-3%
95.4%
95.7%
0%
97.1%
94.2%
-3%
Condos, Townhomes, Duplexes
% Sold Price to List Price All Lots and Land
GUNNISON COUNTY January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
2019
$457,011
$680,954
49%
$8,555
$11,896
39%
369
308
-17%
$5,323,750
$5,300,000
0%
35
31
-11%
91.8%
79.2%
-14%
All Parcels 10+ Acres 133 Rainbow Drive, Almont
MICROMARKET REPORT | Crested Butte resorts.livsothebysrealty.com
2019 • COLORADOMICROREPORTS.COM
WHY COLORADO?
NATIONAL PARKS: 4
MOUNTAIN RANGES: 7
AVERAGE DAYS OF SUNSHINE ANNUALLY: 300
SKI AREAS & RESORTS: 28
CRAFT BREWERIES: 350+
LIV SOTHEBY’S INTERNATIONAL REALTY
RESORT REPORT
Interested in learning about other resort markets? Visit coloradomarketreports.com
The life you love.
resorts.livsothebysrealty.com | coloradomicroreports.com Based on data from the Gunnison County Association of Realtors MLS, Colorado Real Estate Network (CREN). Verify with a local Realtor. All information is deemed reliable but not guaranteed. Data maintained by CREN MLS may not reflect all real estate activity in the market.