Birdseye View | Market Snapshot | Year End 2019
Crested Butte real estate was hopping again in 2019, with continued strong sales through the holidays. The new decade is starting off with great momentum as well. Bluebird already has 28 transactions in the pipeline. And, although we had a record year, sales in the region were slightly lower last year, but expensive property sales surged.
In the north end of the valley, 17 homes sold over $2 million, as compared to 8 in 2018. Bluebird associates participated in 12 transaction over $2 million last year. Twice as many condo/ townhome sales (6) occurred over $1 million in 2019.
Bluebird also facilitated the sale of two of the three homes that sold over $4m last year.
Prices continue to rise in all sectors. The average home price in Crested Butte and Rural Crested Butte is approximately $1.7 million, a 30% increase over last year. Mountain condos are creeping up to an average price of $500,000. Land prices are getting close to an average price of $400,000, a 40% increase over the previous year.
We have purchasers who are waiting for new listings to come on the market. So, if we have a good supply of product this spring, we should have another great year of sales. These factors indicate that now is a smart time to consider selling, with increasing demand and prices and a declining inventory.
Bluebird is the fastest growing brokerage in the Gunnison valley, and continues to lead the market in listed and sold properties. We also lead the market in luxury listings priced over $1 million. Our sales increased almost 50% over the previous year, and our listing inventory is 50% higher than our nearest competitor. We now have 21 licensed professionals on our team. With a pronounced attention to exceptional marketing and successful results for our clients, we are committed to being the best and to doing our best for our clients and for our community.