Happy New Year and cheers to 2024! It is friends like you that truly make the holiday season so special. The winter season is in full swing here in the Gunnison Valley. Early season skiing has been wonderful at both Crested Butte Mountain Resort and Monarch Mountain, though we could certainly use some more snow! Visitor numbers to the valley over the holiday season were up from the same time last year and travelers continue to flock to the beautiful Gunnison Country for wintertime activities.
2023 was another stellar year here in MindyLand! The Gunnison-Crested Butte real estate market closed out the year with $402,866,747 in residential sales volume. This is $7,059,679 above the 2022 numbers. The overall average sales price in the Gunnison Valley has risen by an incredible 10.8% to $1,057,393 from $942,397 in 2022. The average sales price in Gunnison is $651,073, a whopping 17.5% higher than 2022. The average sales price in the north end of the valley is considerably higher at $1,432,930, 16.6% higher than 2022.
Currently there are 26 properties under contract totaling $33,384,900. Not a bad way to start off the new year! Though we are seeing more properties come on the market for the winter selling season, the lack of attractive properties for sale continues to be one of the largest challenges. Some good news is that mortgage interest rates have continued to decrease over the past month. Today’s average for a 30 year fixed rate is 7.493% APR; down from 8.06% APR at the beginning of December. Hopefully the Feds will continue this downward trend!
If you are considering buying or selling, or would like more information regarding this current market or your property’s present value, we are offering several different sales strategies that are working well in this current exchange. Feel free to reach out to me or stop by our newly remodeled office at 218 N Main Street for a cup of coffee, tea, or a cold drink!
Thank you for reading our January MindyGram. Wishing you a spectacular year ahead, we look forward to seeing you in MindyLand soon!
Mindy Costanzo
Bluebird Real Estate
Broker Associate
(970) 209-2300
This Month's Featured Listing
Needle Creek Ranch
Don't miss this opportunity to own 160 acres IN HOLDING - Completely surrounded by Gunnison National Forest, you can stand virtually anywhere on this ranch and enjoy spectacular views with encompassing mountain ranges to the north, south, east, and west. Nearly a mile of Needle Creek runs through the property. Enjoy incredible fishing at the nearby Needle Creek Reservoir that is within walking distance. The beautiful town of Gunnison and the Gunnison airport is located only 35 miles west from this sprawling ranch.
MindyLand Market Briefs
Gunnison Market Update
From our MLS feeds we can see that here in the south end of the valley we closed out December with $119.1M in residential sales volume year to date; putting us $32.7M above the sales volume at this time last year. Another $13.8M is currently under contract putting us on track for another great year in real estate!
This year’s average sales price is also up an incredible 17.5% to $651,073 from $536,981 and inventory continues to move rather quickly. We remain in the throws of a strong Seller’s Market due to the lack of homes and land now on the market.
Crested Butte Market Update
Sales in the north end of the valley have slowed ever so slightly. We closed out December with $283.7M in sales volume year to date. That puts us $25.6M below the sales volume at this time last year; however another $19.6M is currently under contract.
The average sales price is up 16.6% to $1,432,930 from $1,194,413 with available inventory being the biggest challenge in the north end of the valley as well.
*CREN MLS - this information is deemed reliable, but not guaranteed.
Upcoming Events ~ January 2024
January 5: Drew Emmitt & Friends
January 6: 12th Night Tree Recycling
January 20: TETWP Winter Songwriter Shuffle
January 26: TETWP Pink In The Rink
January 31: Women's Networking Night
For additional local events, visit the Community Info page on our website.
Interesting Reads
Thank you for reading our January MindyGram. Happy New Year! We looking forward to seeing you in MindyLand soon!