May 2024 – Real Estate Market Newsletter

Heather Woodward

11 months ago

Welcome to the latest edition of my newsletter. As we delve into April’s statistics, we observe a nuanced landscape reflecting shifts in both supply and demand dynamics.

In April, the market witnessed a surge in new listings, signaling an encouraging trend of increased inventory. However, juxtaposed against this surge is a notable decline in demand, as evidenced by a decrease in pending listings both month-over-month and compared to the same period last year. Notably, the average days on market edged upward, standing at 124 days, reflecting a slightly slower pace of sales compared to the previous month.

Sellers, however, can take heart in the fact that despite these shifts, they continue to realize strong returns on their investments. Closing prices averaged 97.3% of the listing price, showcasing a resilient market where sellers are still able to secure favorable deals.

In terms of pricing trends, while the average price for single-family homes witnessed a month-over-month decline, it’s essential to note that this figure remains significantly higher compared to the same time last year, highlighting the enduring strength of the market over the long term.

seF

Anecdotal evidence further paints a picture of market dynamics, suggesting an intriguing trend wherein higher-priced properties (>$3M) are experiencing increased activity, while properties in the lower price bracket (>$1M) are exhibiting a slightly slower pace of movement.

As we navigate through these trends and transitions this spring and summer, remember that our team is here to provide expert guidance and support to help you navigate the local real estate landscape with confidence.

Additionally, during the off season we are knee deep into various home maintenance projects, now is an ideal time to ensure your property remains in top-notch condition year-round. I thought it would be helpful to create a home maintenance checklist for you. It’s designed to help you stay ahead of maintenance tasks and preserve the value of your investment for years to come.

Stay tuned for a deeper dive into these trends and more insights in the sections that follow.

Stay tuned for more updates, exciting property listings, and insider tips to make the most of your mountain living experience. Wishing you a season filled with joy, adventure, and the warmth of this incredible community!

Crested Butte & Gunnison News

Village at Mt. CB close to town approval

By Kendra Walker

The Village at Mt. Crested Butte development plan at the base of Snodgrass Mountain is close to receiving final town approval….
Read more….,

Neighbors near the bridge step up to deal with a bad situation

By Kendra Walker

The Village at Mt. Crested Butte development plan at the base of Snodgrass Mountain is close to receiving final town approval…
Read more…

County and state to begin work this week on early Kebler Pass Road opening

by Mark Reaman

With Gunnison County Road 26 open as a limited detour around the closed Middle Bridge on Highway 50 near the Dillon Pinnacles, the county and Colorado Department of Transportation (CDOT) will soon be moving some resources to Kebler Pass Road…Read more…

Local Events

Natura de Libris Reception

🗓️ May 24, 5:00 pm-7:00pm
📍606 Sixth St. Crested Butte, CO 81224

Join us for the reception of Natura de Libris to celebrate the artist, Alvaro Alejandro. Featuring a robust bar menu as well as complimentary house wine or beer.

Mountain Words Festival
🗓️ May 25
📍606 Sixth St. Crested Butte, CO 81224

The Mountain Words Festival is a multi-day literary celebration at nine-thousand feet, featuring readings, workshops, kids’ events, parties, panel discussions, live theater, and more.

Author presentation on community read
🗓️ May 26, 2:00 pm-3:00pm

3000 N County Road 25 E

The Gunnison Library’s common read has been Playing with Wildfire by Laura Pritchett (free copies available at all libraries). She directs the MFA in Nature Writing at the university. On May 26, she’ll be giving a presentation on the book from 2-3 pm as part of the Crested Butte Mountain Words Festival. From their brochure: “Playing with (Wild) Fire” community read discussion with Laura Pritchett Playing with (Wild)Fire discussion with Laura Pritchett celebrating the power of wildfire, community, and experimental form.

Easy Jim, Music of the Grateful De

🗓️ May 26, 6:00 pm-11:15pm

850 County Rd 49 Gunnison, CO

Growler Mtb weekend in Gunnison! Come camp out and listen to the sounds of the Grateful Dead, with the Gunnsion Valley’s own Easy Jim. Opening support for the night kicks off with Beer Hunder

Annual Memorial Day Events
🗓️ May 27, 9:00 am-4:30pm

405 Sopris Avenue

Please join us for the Beloved, Annual Memorial Day Activities on Monday, May 27th! 9:15am Military March from 2nd Street, down Elk Avenue to the Crested Butte Cemetery 10am Mass for the fallen will be held at the Crested Butte Cemetery Chapel 11am Military Gun Salute then a march back to town.

Save the dates and make the most of May in Gunnison and Crested Butte. Share with friends to spread the word!

Restaurant Guide

—What Keeps a Home From Selling —

Here are my 3 tips ⤵

1️⃣ Clutter – I hate to break it to you but in order to get your home ready to sell, you are going to need to look at it from the eyes of a buyer. This might mean taking a majority of your items and boxing them up. You want to create a space where a buyer can envision themselves in your home. It’s not hard to do but does take a little preparation.

2️⃣ Deferred maintenance – This is a pain point for me personally. I just hate seeing a beautiful home go neglected. They take upkeep but it doesn’t have to be overwhelming. The trick here is to have a regular maintenance schedule.

3️⃣ Pricing – If the pricing is off, then no one is going to look at it. I personally don’t believe we are in a time of “testing” the market. This is when a seller puts their home on the market to see how the market respond. If no showings, no offers and a price too high, what happens? Nothing.
Follow me for more buying and selling tips.

717 Sixth Street, Crested Butte, CO

Quick Links

MLS Meet Heather Contact Website

Learn More About The Crested Butte & Gunnison Valley