Quarter Report | Year-End 2018
In analyzing the 2018 year-end market statistics, one thing is certain – the clients of Crested Butte Sotheby’s International Realty had an incredibly successful year! Our collective goal as an office is to get results and the statistics show we have. Our office led Gunnison County in total sales volume for the 7th year in a row, led in total listings sold, and had the top broker for the 7th year in a row! Thank you to everyone that has been a part of our business in 2018. View page 11 for more statistics from the Gunnison County MLS.
Real estate sales throughout Gunnison County were down slightly in 2018 over 2017. The Upper Gunnison Valley saw a decline of 7.1%, due in part to higher prices and less inventory.
Single-family home buyers gravitated toward the more populous areas of Mt. Crested Butte, Crested Butte South, and the City of Gunnison for single-family homes, while rural area sales dipped 23% over 2017. We witnessed (and represented the seller of) the highest sale to date in the Town of Crested Butte, a beautiful single-family home selling for an impressive $3.85M!
Since the acquisition of Crested Butte Mountain Resort by Vail Resorts earlier this year, Mt. Crested Butte sales have been on everyone’s radar, especially for condos and townhomes. Although we have noticed increased interest in mountain properties, inventory remains low so sales have remained roughly the same as in 2017. Condo sales were down 8% in rural areas but jumped 72% in the Town of Crested Butte with an impressive 40% reduction in days on market.
While the rural areas generally saw a decrease in residential sales, these areas were booming in land sales. More buyers turned to building due to increased residential prices resulting in a 35% increase in Rural Crested Butte, and an incredible 86% increase in Crested Butte South. Rural Gunnison witnessed a substantial sale of 420 acres for $5.3M, the 7th largest sale recorded in Gunnison County!
It certainly was a fantastic year and we are looking forward to what 2019 brings! Regardless of your real estate needs in the New Year, the team at Crested Butte Sotheby’s International Realty can help you get results. Visit us in downtown Crested Butte or contact us today to learn how we can offer you an advantage your real estate endeavors.