Birdseye View | Gunnison Market Snapshot | Second Quarter 2022
Summer in Gunnison is always an exciting time with weekly concerts at the I Bar Ranch, Cattlemen’s Days Rodeo festivities and abundant outdoor recreation. Many homeowners are already getting ready for winter and finishing home projects before the snow starts to fly in the fall. Municipal developments are in high gear, with a beautiful new mural at IOOF park nearing completion on Main St, design work underway on the Whitewater Park improvements and a new traffic safety plan recently receiving City funding.
As summer heats up, so does the real estate market. Available inventory for single family homes in Gunnison typically peaks in June or July each year. This rings true so far this year as well, with 51 homes currently on the market in the greater Gunnison area. The average sales price for single family homes since January is just over $600,000. However, the current available inventory has an average list price of over $1,150,000. This increase is partly due to larger home sizes hitting the market, as well as the overall increase in market value. Although we are seeing a lower quantity of home sales across the entire Gunnison County market area compared to this time last year, sales to date this year have larger average home sizes with higher sales prices.
Condo and Townhome sales are quickly fleeting, with properties selling as soon as they hit the market. These price points and property types are highly desirable with only four units currently active on the market. New condominiums or townhomes that become available are seen as great values and should sell fast. Exclusively listed by Bluebird Real Estate, only a handful of The Lofts townhomes remain available.
Gunnison area land sales are another hot commodity with a 76% increase in average sales price compared to this time last year. However, with 40 land listings currently available for purchase in the greater Gunnison area, there is still opportunity for buyers to make their move.
Commercial sales in Gunnison continue to reach new heights with the average sold price just under $1.5 million. This represents a 270% increase over the prior year due to a hotel property sale, along with two other large commercial spaces in the first half of the year.
Regardless of the property type or location, Bluebird is here to help whenever you are ready, and we will continue “bringing dreams home” for our clients and neighbors in the community!
