Gunnison County Market Update – January 2020

Gunnison County Market Update – January 2020

Posted on February 25, 2020 by Rocky Mountain Commercial Brokers in Market Updates


Commercial Real Estate sales volume of $11.2M with 20 transactions in 2019 is significantly up 110% compared to sales in 2018 with 17 transactions worth $5.3M. Gunnison County Residential Real Estate sales for $277M in 2019 is flat compared to sales in 2018 of $277M. The 40,000sf Center for the Arts complex in Crested Butte has completed construction and is now open. North Village Reserve (Snodgrass Mountain) 148 acre land parcel has been sold for $5.6M and a 150 unit Residential Community Planning phase is underway. A home in the Town of Crested Butte sold for 4.45M which is an all time record. Another home in Aperture Development sold for $4.2M. A 4.2 acre parcel of commercial land located in an Opportunity Zone on Hwy. 135 in the Gunnison City limits has sold for 2.685M.

GUNNISON COUNTY MARKET UPDATE

Item
2018
2019
% +/-
——————————————————————————————————————————————————————————————————
VELOCITY (Source – mls)
Item:
2018:
2019:
% +/- :
Commercial Sales Volume
$5.3M
$11.2M
110%
Item:
2018:
2019:
% +/- :
Commercial Transactions
17
20
17.6%

SALES TAX INDICATORS (City of Gunnison)
Item:
2018:
2019:
% +/- :
City Sales Taxes
$5.3M
$5M
-5.7%
Item:
2018:
2019:
% +/- :
County Sales Taxes
$855K
$806K
-5.7%
Item:
2018:
2019:
% +/- :
Building Materials & Trades Taxes
$84K
$109K
29.7%
Item:
2018:
2019:
% +/- :
Weedtail Taxes
$128K
$107K
-16.4%
Item:
2018:
2019:
% +/- :
Restaurant & Bar Taxes
$188K
$194K
3.2%
RESIDENTIAL REAL ESTATE – GUNNISON COUNTY (Source – MLS)
Item:
2018:
2019:
% +/- :
Residential Total Sales
$277M
$277M
0%
Item:
2018:
2019:
% +/- :
Residential Average Price
$506,000
$605,000
19.5%
Item:
2018:
2019:
% +/- :
Residential Median Price
$364,000
$417,000
14.6%
Item:
2018:
2019:
% +/- :
Residential Days on Market
189
156
-17.5%
Item:
2018:
2019:
% +/- :
Total Transactions
547
458
-16.3%
PUBLIC POLICY CHANGES
  • Town of Crested Butte is considering a Vacant Home Tax Proposal
DEVELOPMENTS
  • 40,000sf Center for the Arts complex in Crested Butte has completed construction and is now open
  • North Village Reserve (Snodgrass Mountain) 148 acre land parcel has been sold for $5.6M and a 150 unit Residential Community Planning phase is underway
  • A home in the Town of Crested Butte sold for 4.45M which is an all time record
  • Another home in Aperture Development sold for $4.2M
  • A 4.2 acre parcel of commercial land located in an Opportunity Zone on Hwy. 135 in the Gunnison City limits has sold for 2.685M
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Rocky Mountain Commercial Brokers

Rocky Mountain Commercial Brokers is a group of independent professionals who specialize in the sale and lease of office, retail, healthcare, industrial, investment properties, land and ranches in the Rocky Mountain region. Our commercial real estate broker members have met high standards and recognition in their field and have years of experience with all aspects of commercial real estate.