Crested Butte Real Estate Market Report October 2020
2020 Crested Butte Real Estate Market Making a Kick…
Crested Butte Real Estate Market Report October 2020 — Everyone would agree that 2020 has been a very interesting year for we who watch the real estate market and analyze the numbers… like watching Dave Wottle (with a golf hat) run in the 800 meter finals in the 1972 Munich Olympics… through March, 2020 was neck and neck with the volume results of 2019 YTD (both at $240M) but slightly behind 2018 YTD results ($254M). By June 2020 total volume was 30% behind 2019, and 2020 total transactions was in dead last compared to the prior 4 years YTD results. Many predicted that we would not recover from the Covid shut-down and it looked like the race was over…
But in July and August we saw 2020 making a move (“the Wottle kick” was early…), and it was all tied up heading into September. By the end of September we saw 2020 with a commanding lead in total volume ($211M vs. 2019 YTD of $157M).
Now we are looking at October results – we see 2020 is way out in the lead with $285M in total volume (the next closest recent year was 2017 with $205M YTD). An interesting not when looking at Total Transactions for 2020 – there are 360 which is 36% ahead of 2019 YTD (289) but slightly behind 2018 YTD (389) and 2017 YTD (362).
So you may be asking – well who is going to win the race? We really did not know if Dave Wottle was going to win gold in 1972 – he was not even ranked in the 800 meters the year prior to the Olympics, and he was not expected to even make it to the finals of the Olympics. The Russian was the favorite, and there were two very strong Kenyans, but Dave Wottle’s famous kick was enough and beat them all at the tape.
Looking at 2020 YTD we have some additional insight into how the year is going to finish-out… there are currently 134 properties Under Contract that represent $124M in total volume. This same time last year we saw there were 44 properties Under Contract that represent $35M in total volume. We can already declare victory for 2020 – the results will crush the previous years, in total volume, transaction count, and ascending price points (for most areas and property types).
If you have never seen Dave Wottle win gold – or you don’t remember how special it was, click HERE to watch. If you are curious about what is going on with the Crested Butte Real Estate Market – read on and you will see some surprising results. As always – if I can help you with your Crested Butte real estate needs – call me today. I pride myself on my client’s satisfaction, and the level of detail in this Crested Butte Market Report is representative of what you can expect from me as your real estate agent.
Dave Wottle – 1972 Munich Olympics – 800 Meter Finals: https://www.youtube.com/watch?v=5LHid-nC45k
The Crested Butte Real Estate Market By the Numbers
For the first ten months of 2020 Year over year Count of Properties Sold is up 36% and Volume is up a whopping 57%. The month of October Count of Properties Sold is up 124% over last October and Volume is up 204%. Wow! Even more crazy is there are 134 properties Under Contract – this is double the norm for this time of year.
- Average Sold Prices: Single Family homes Sold YTD is $1.37M; Condos and Townhomes is $544,000; Land is $403,000.
- Under Contract Average Asking Prices: Single Family homes $1.52M; Condos & Townhomes is $578,000; Land is $715,000.
- For Sale Average Asking Prices: Single Family homes $2.5M; Condos and Townhomes is $456,000; Land is $634,000.
VOLUME and TRANSACTIONS Crested Butte Real Estate – Year to Date & Prior Years
Overall Volume and Transactions are up year over year in the Crested Butte Real Estate Market.
Crested Butte Real Estate Single Family Home Sales by Price Range – Quartiles
Single Family Crested Butte Homes Sold YTD – Quartiles
Revealing Downtown Crested Butte Single Family Home Sales
There have been 31 Single Family Homes Sold Year to Date with Median Sales Price of $1,405,000, a very slight 1.3% increase year over year.
Condos and Townhomes
There have been 149 Condos Sold Year to Date with Median Sales Price of $452,000, a 4.0% increase year over year.
There have been 90 parcels sold Year to Date with an Average Sales Price of $403,000, a -3.4% decrease year over year.
This Crested Butte Real Estate Market Report October 2020 is a total of 14 detailed pages – Download Your Copy HERE
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Helping You Make Informed Decisions Regarding Crested Butte Real Estate
I hope you and your family are safe during these crazy times. I produce this monthly Crested Butte Real Estate APRIL 2020 report to provide You with a high level overview by looking at the patterns and trends.
My goal is to help YOU make sense of the numbers so you can make informed decision. It is my hope that this report helps you to ”See the Big Picture and All the Details!”
If you see a segment of the market that you would like additional help with understanding please contact me. Or if you desire a specific Property Valuation Report that I routinely prepare for my clients, please contact me.
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This Crested Butte Real Estate Market Report and the level of detail is representative of what you can expect from me as your Real Estate Agent. If you are considering buying or selling – I have been in your shoes. My wife and I were second homeowners for 10 years prior to moving our family here full time.
I am consistently among the Top Real estate agents in Crested Butte and among the top 1% of all Coldwell Banker Agents in North America, and I strive to exceed client expectations. Especially now in times of fluctuation you need a trusted advisor to help you sort out your next steps. Call or Text me: (970) 209-5405
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For questions regarding this Crested Butte Real Estate Market Report or the Crested Butte Real Estate Market in general contact:
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