Wow! What a start to the year it has been in the Gunnison real estate market.
Countywide, the market is up 21% in total sales volume compared to the
same period last year. Taking a closer look at the Gunnison area stats shows a
similar trend- total dollar volume sold up 23% (skewed a bit due to a
significant sale in Eagle Ridge just over $1.8 million) with the total number of
transactions up 12%. Things continue to move right along with over 30
properties going under contract within the past month! The most active
market segment being single family homes priced between $150K-$300K.
Tight rental market conditions (expensive/ limited availability) along with low
interest rates and attractive down payment options have certainly helped
generate the recent surge in the residential Gunnison area market. Distressed
transactions (foreclosures and short sales) continue to dwindle. Residential
inventory is slowly beginning to build with the arrival of spring. Average seller
discount remains at 6% for residential properties with median days on market
hanging around 140, however, expect to see that time decrease if things
continue to progress at the current rate. Currently there are 501 active listings
(230 residential/271 land) in the Gunnison area market with 53 properties
under contract.
Q1 2014 Q1 2015 % Change
$ Volume
Sold $5,697,650 $7,369,400 23%
Total
Transactions 24 27 11%
Residential
Inventory 179 227 21%
Units Sold $ Volume
Q1 2013 11 $1,838,363
Q1 2014 14 $3,875,650
Q1 2015 20 $6,218,900
Parcels Sold $ Volume
Q1 2013 8 $1,271,500
Q1 2014 10 $1,822,000
Q1 2015 7 $1,150,500
Price Point # of
transactions
Active Listings
<$100K 4 6
$100-200K 6 61
$200-300K 7 58
$300-400K 2 33
$400-500K 0 17
$500K Plus 2 53
51015202530
Q1 2011 Q1 2012 Q1 2013 Q1 2014 Q1 2015
Quarterly Comparison: Total Transactions
The Gunnison Area Real Estate Market
1st Quarter 2015 Analysis In-Town Gunnison, Rural Gunnison, Almont, Powderhorn, & Ohio City/Pitkin.
(Data reflects activity from Jan.1st – Mar. 31st, 2015)
All figures are as shown in the Gunnison Country Association of Realtors MLS. Information contained herein deemed reliable but not guaranteed Joey Micucci|Realtor 970.901.6405 GunnyBroker.com
Year Units Sold $ Volume Sold Median Sold Price Median List Price Avg. Seller discount Avg. $ Per Foot
Q1 2013 9 $1,687,063 $199,000 $199,000 2% $132
Q1 2014 13 $3,706,650 $260,000 $270,000 6% $189
Q1 2015 15 $5,692,000 $252,500 $267,500 6% $138
$200,000
$220,000
$240,000
$260,000
$280,000
2011 2012 2013 2014 Apr-15
Median Asking Price Median SOLD price
135
145
155
165
2011 2012 2013 2014 Apr-15
Sales & Pricing by area?
The Gunnison area single family home market is moving at a very steady pace with over two dozen homes going under contract within the last 30 days,
most of which were priced between $150-$250K and some even went under contract within one week! Statistically, the numbers are up across the board
but it will be the next quarterly report that reflects the surge we are experiencing in this market as 25+ homes are set to close within the next month or
two. If things continue the way they are throughout the rest of the year, leverage may shift a bit more towards sellers in this market. Inventory of homes
for sale beginning to slowly increase in all price ranges, but mostly under $300K.
<$100K
$100-$
200K
$200-$
300K
$300-$
400K
$400-$500K
$500K +
0
10
20
30
40
50
60Area Total Transactions $ Volume Sold Median Price
Gunnison 6 $1,701,000 $272,500
Rural Gunnison 8 $3,891,000 $206,500
AlmontArea 0 - -
Ohio City/Pitkin 1 $100,000 $100,000
Powderhorn 0 - -
All figures are as shown in the Gunnison Country Association of Realtors MLS. Information contained herein deemed reliable but not guaranteed Joey Micucci|Realtor 970.901.6405 GunnyBroker.com
**Click here to view all sold homes from Q1 2015**
The Gunnison Area Real Estate Market
1st Quarter 2015 Analysis In-Town Gunnison, Rural Gunnison, Almont, Powderhorn, & Ohio City/Pitkin.
(Data reflects activity from Jan.1st – Mar. 31st, 2015)
Year Units Sold $ Volume Sold Median Sold Price Median List Price Avg. Seller discount Avg. $ Per Foot
Q1 2013 2 $151,300 $75,650 $80,837 6% $91
Q1 2014 1 $169,000 - - - -
Q1 2015 5 $526,900 $105,380 $116,250 9% $90
$100,000
$120,000
$140,000
$160,000
$180,000
2011 2012 2013 2014 Apr-15
Median Asking Price Median SOLD price
110
150
190
230
270
2011 2012 2013 2014 Apr-15
Sales & Pricing by area?
The Gunnison area condos and townhome market continues to slowly improve with the most active 1st quarter in a couple years. We are seeing buyers
consider local condos and townhomes as both investments and primary homes, due largely in part to the tough rental market conditions. Pricing is quite
inconsistent in this segment and depends heavily on location. Nonetheless, we’ve experienced improvement thus far in 2015 with more projected. An
important note- the numbers/stats below are a bit deceiving as there has been such little activity on this segment the past few years.
<$100K
$100-$
200K
$200-$
300K
$300-$
400K
$400K+
0
5
10
15
20
25
30 Area Total Transactions $ Volume Sold Median Price
Gunnison 2 $101,900 $50,950
Dos Rios 3 $425,000 $141,667
All figures are as shown in the Gunnison Country Association of Realtors MLS. Information contained herein deemed reliable but not guaranteed Joey Micucci|Realtor 970.901.6405 GunnyBroker.com
**Click here to view all sold condos & townhomes from Q1 2015**
The Gunnison Area Real Estate Market
1st Quarter 2015 Analysis In-Town Gunnison, Rural Gunnison, Almont, Powderhorn, & Ohio City/Pitkin.
(Data reflects activity from Jan.1st – Mar. 31st, 2015)
Year Parcels Sold $ Volume Sold Median Sold Price Median List Price Avg. Seller discount Most Sales by
Type
Q1 2013 8 $1,271,500 $73,700 $84,450 33% < 1 acre
Q1 2014 10 $1,822,000 $78,500 $104,500 19% < 1 acre
Q1 2015 7 $1,150,500 $54,000 $69,000 8% 11-40 acres
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
2011 2012 2013 2014 Apr-15
Median Asking Price Median SOLD price
160
260
360
460
2011 2012 2013 2014 Apr-15
2015 first quarter land sales are down slightly compared to last year, but all in all this segment continues to stabilize. This market seemed to have “tanked”
about a year and a half ago which then led to an upswing in purchases while pricing was down considerably. As a result, over the past year or so pricing
has slightly increased, mainly within the building sites under 1 acre. New construction continues to pop up around the Gunnison area which may lead to
more consistency in building lot sales. Inventory in this segment has remained stable, with a few new great Ranch listings East of Gunnison and down in
the Powderhorn area.
<1 acre 1-5
6-1
0
11-4
0
41+
Ranch
Min
ing
claim
s
0
20
40
60
80
100 Type Total Transactions $ Volume Sold Median Sold Price
< 1 acre sites 2 $73,000 $63,500
1-5 acres 2 $89,000 $44,500
6-10 acres 0 - -
11-40 acres 2 $306,000 $153,000
41+ acres 0 $159,334 $79,667
Ranches 1 $682,000 -
Mining Claims 0 - -
All figures are as shown in the Gunnison Country Association of Realtors MLS. Information contained herein deemed reliable but not guaranteed Joey Micucci|Realtor 970.901.6405 GunnyBroker.com
**Click here to view all Land sales from Q1 2015**
The Gunnison Area Real Estate Market
1st Quarter 2015 Analysis In-Town Gunnison, Rural Gunnison, Almont, Powderhorn, & Ohio City/Pitkin.
(Data reflects activity from Jan.1st – Mar. 31st, 2015)
Property
Type
Total $ Volume Sold
2014
Avg. Sold
Price
Median
Sold Price
Avg.
Asking
Price
Median
Asking
Price
Avg.
Seller
Discount
High $ Sale
Low $
Sale
Avg. Price
per sq.
foot
# of Sales
SF Homes $30,222,234 $290,598 $258,000 $307,356 $267,750 5% $1,845,000 $17,500 $127 104
Condo/TH $4,463,850 $135,268 $140,000 $143,037 $149,000 5% $255,000 $33,000 $105.14 30
Land $13,499,836 $228,810 $55,000 $276,574 $64,500 17% $1,750,000 $13,500
N/A 59
60
70
80
90
100
110
Q1 2011 Q1 2012 Q1 2013 Q1 2014 Q1 2015$20,000,000
$25,000,000
$30,000,000
$35,000,000
Q1 2011 Q1 2012 Q1 2013 Q1 2014 Q1 2015
The “breakout” year in the market we’ve been anticipating seems to be in the
works based on recent activity. It is easy to expect things to continue to move
along steadily throughout the summer season. For current and potential sellers
in the Gunnison area with property market values $300K and under, now is a
great time to list and sell if you’ve been waiting or thinking about doing so.
Buyers, you are in the same boat as rates are still low somehow and payments
very competitive to what you might dish out for rent. Whether you’re
considering buying or selling, I’d certainly appreciate the opportunity to discuss
viable options. As always, feel free to contact me anytime and I look forward to
hearing from you! All figures are as shown in the Gunnison Country Association of Realtors MLS. Information contained herein deemed reliable but not guaranteed
The Gunnison Area Real Estate Market
1st Quarter 2015 Analysis In-Town Gunnison, Rural Gunnison, Almont, Powderhorn, & Ohio City/Pitkin.
(Data reflects activity from Jan.1st – Mar. 31st, 2015)