April 10, 2017
April 2017 Crested Butte Market Report
45 properties changed hands in the Crested Butte and Gunnison area in March 2017, which is the highest number in the past 10 years. While we have now entered off-season in Crested Butte, the real estate market tends to stay busy as savvy buyers take advantage of the slower off-season pace to look at homes. Land parcels have begun to go under contract recently as well, coinciding with snowmelt in the lower valley. Buyers continue to battle low inventory, and this is especially true for lower priced condos and single family homes. If you aren’t already receiving my monthly newsletters which include my market reports and community updates, please click the button below:
The following year over year graphs compare the previous 365 days with the same period one year ago (i.e. 3/31/2015 through 3/31/2016 versus the same period from 2015 to 2016). With such a small market (sample size) these numbers can jump around, so it’s worth comparing these graphs over a period of time. My Gunnison and Crested Butte real estate market report archives can be found on this page. If you are looking for other statistics, such as inventory, or a more specific neighborhood analysis, please contact me.
- Crested Butte South: Crested Butte South continues to suffer from low inventory for single family homes, though there have been a few new listings in recent weeks.
- Mount Crested Butte (All Residential): Interestingly, the median sales price in Mount Crested Butte is currently lower than it is in Gunnison. This is primarily due to lower priced projects like the Grand Lodge and Timbers. The average sales price is $355,000, compared to $230,000 in Gunnison (identical to the median). For condos, see below:
- Mount Crested Butte (Condos/Townhomes): Condos in Mount Crested Butte continue to move quickly, and buyers should be prepared to make an offer quickly on properties that meet their needs.
- Crested Butte: Prices continue to rise in Crested Butte, with a median price of $910,000, but buyers have limited choices.
- Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, and Trapper’s Crossing. This area had remarkably similar sales figures compared to the previous year.
- Gunnison: While the rush we saw 12-18 months ago has slowed down slightly, the Gunnison market continues a steady and stable climb.
- Gunnison Area: This includes areas such as Dos Rios, Ohio Meadows, Cranor Hill, and Hartman Rocks.
- Total Residential Sales: This category covers our entire MLS area, including Lake City, Pitkin, Crested Butte, Gunnison, and points between.
- Land Sales (Upper valley from CB South through Mount Crested Butte): As mentioned above, land sales have heated up along with the weather. A month ago, only 5 parcels were under contract. Today,
that number is 16.
- Land Sales (Total): This category also covers our entire MLS area, including Almont, Lake City, Pitkin, Crested Butte, Gunnison, and other parts of the Gunnison Country.
Crested Butte/ Gunnison Home Sales, March 2017
Crested Butte/ Gunnison Land Sales, March 2017:
Source: Gunnison Country Association of Realtors’ MLS/ CREN. Reported sales not necessarily sold or listed by Frank Konsella and are intended only to show area trends.