Birdseye View | Market Snapshot | Third Quarter 2021
So far there’s no end in sight! Sales, along with summer and fall activities, in the Gunnison valley have been full speed this year. The interest for properties of all types has been beyond belief. Heading into the fall, our agents are reporting that they have ready buyers who are eagerly awaiting properties to go on the market.
Veteran realtors acknowledge that they have never seen demand like this in over thirty years. The average supply in our primary markets is less than two months, which means essentially that properties are going under contract immediately when they hit the market – in most cases with multiple offers. On the mountain, there are only 22 active condo/townhome listings available, an all-time low.
The average price in the core upper valley markets is now over $2 million. Even in Crested Butte South, the average price for a single family home in the popular residential community has surpassed $1 million for the first time.
This time last year, there were 59 land sales in the greater Crested Butte area. Through the third quarter of this year, 205 land parcels have sold, and the average price has exceeded $500,000 for the first time, with only 84 available listings, another all-time low.
In the luxury market, there have been 53 sales over $2 million compared to 16 sales this time last year. Bluebird has participated in 27 of the transaction sides.
Continued low interest rates and the desire for destination locations offering remote work and play are driving record interest in Crested Butte and the Gunnison Valley.
Bluebird is on track to hit another all-time high sales record prior to our five-year anniversary this spring. We are thrilled to be expanding into the Gunnison market in a prime downtown location at 218 N Main St with veteran leaders driving our business in this exciting market. Houses are flying off the market in the Gunnison area. Prices have risen over 20 percent this year and sales are up 38 percent, causing inventory to be at record lows.
We will continue working towards our mission of “bringing dreams home” and would love for you to be our next happy client.
View the full report with graphs here.