It’s been a big year in Gunnison Valley real estate, but also in sheer demand of growing tourism as many continue to work remotely across Colorado resort communities. To date, 284 residential units in the Upper Valley (North of the Almont area) have closed with a total sales volume of $323M. This is 98% list prices. 21 of these sales have been above $3M with a new high sale in the Prospect subdivision at $5.7M. We have another $80M in pending transactions. There’s only 53 residential units available North end of the valley, and a mere 10 offerings in the immediate Gunnison and Almont areas. 182 residential units have closed in Gunnison areas totaling $86M in sales volume with a median PPF at $300. Six sales have surpassed $1M, one above $2M and one above $3M.
Land sales on are the rise with the average asking price of current inventory now at $943,000. In the North end of the Valley, we have closed 205 parcels with a total of $106M. 24 parcels closed above $1M including 540 acres known as Pogna Ranch in Crested Butte South and the PUD located on the corner of Butte Avenue in Downtown Crested Butte. We have 56 commercial, residential, and riverfront lot offerings currently for sale between Almont extending to Blue Mesa.
See the latest on the expansion of Gunnison Regional Airport scheduled for completion 2022 and new flights to expect for the upcoming winter season. The interior improvements will take place substantially within the existing 34,800 SF of the terminal with minimal additions to the overall footprint. New floor area will be gained on the upper level, and the roof will be raised to gain more solar exposure. Shaw Construction will have the majority of the interior work completed in time for the winter flights in mid-December.
Contact me directly to discuss the real estate activity and changes happening in Gunnison County. I hope you enjoyed my market summary. Thank you for reading!