Birdseye View | Gunnison Market Snapshot | Spring 2024
The whitewater kayakers and serious mountain bikers lead the way in ushering spring into summer in the Gunnison area. Following a healthy winter snow season, the calves are plentiful in the pastures and the golfers are warming up their swings.
As the trees bloom on Main Street, we enjoy and appreciate the transition to sunny days and warmer weather. Natural Grocers recently opened along with Dilly Deli and Crested Bucha, and the Gunnison Arts Center has announced its summer concert schedule. New housing developments continue to be announced to satisfy much-needed demand in several sectors.
The real estate market is showing signs of sustained strength in the Gunnison area. Average home prices in town are nearing $700,000, as demand is keeping inventory to a minimum of six offerings. Rural Gunnison sales doubled in the first quarter with twelve transactions averaging a new high averaging over $1.4 million.
The condominium market has paused with only four sales to date, averaging just over $375,000, probably due to a lack of inventory and higher mortgage costs. Land sales are steady for the start of the year, averaging $330,000, and there has only been one commercial sale this year at $335,000 with 14 available properties.
Our associates anticipate listings to increase in the spring market, stimulating strong sales activity for the summer. Bluebird leads the Gunnison market in listings and sales this year and last. As a grateful member of the community, we are optimistic for the future of this County Seat, with the diversity of core drivers such as the university, hospital system, air travel, and governmental hub – not to mention the crossroads for ranching, hunting, and recreation.
We would love to work with you and show you how we are “bringing dreams home.” Bluebird is the exclusive regional member of Leading Real Estate Companies of the World, the largest global network of properties and independent brokerages.
View the full report with graphs here.