The 2015/2016 ski season came to a close April 3, 2016. It was reported that this season was ranked as the 3rd season with the least amount of snow on record and even though that is what the numbers say, the skiing was pretty darn good. Unlike last year where several sections of the extremes were closed or never opened, this year the entire mountain was open.
In real estate news, the first quarter of 2016, the Crested Butte area had 35 residential closed transactions with a sales volume of $24,994,248. Although the number of transactions was down by 6 from 2015, dollar volume was up by 40{23633f02edd09c24e6445700eef72965eacceae4d7daeb2d68dcdc9d694b1af0} for the same time period. Now that does not mean that home values are up by 40{23633f02edd09c24e6445700eef72965eacceae4d7daeb2d68dcdc9d694b1af0}, only that cumulative transaction dollars were up. If you are interested in specifics about property values related to location and type, please contact me.
And in vacant land sales, there were 23 closed transactions this year totaling $4,654,000. That represents a 20{23633f02edd09c24e6445700eef72965eacceae4d7daeb2d68dcdc9d694b1af0} decrease in transactions for the 1st quarter of 2016.
It was reported in the Crested Butte News with regards to building permits, that the Town of Crested Butte has issued 17 building permits related to new and remodel construction thus far this year. In Mt. Crested Butte there have been no permits issued, however there are 7 residential projects in the various stages of the permitting process. In Crested Butte South there have been 5 residential and 1 commercial permit issued so far and several more are in the permitting process.
In the Gunnison area, residential sales for Q1 are up 64{23633f02edd09c24e6445700eef72965eacceae4d7daeb2d68dcdc9d694b1af0} with 41 closed transactions in 2016 compared to 25 in 2015. As property values rise in the Crested Butte area, the trend continues for many local buyers to purchase homes in Gunnison because prices are lower and you can get more property for your dollar.
Land transactions in the Gunnison area fell from 14 in 2015 to 9 in 2016.  In the City of Gunnison there have been 10 permits pulled for various residential and commercial projects and in all other areas of unincorporated Gunnison County there were another 10 permits pulled for construction projects.
I hope this is helpful information to help you get an idea of what is happening in the construction world. Gunnison County is alive and well!
My research was obtained within the Gunnison County MLS and various websites and city and county professionals. My research does not include any real estate transactions that were sold by owner.
Please contact me if you would like to discuss the current real estate market conditions.
