52 properties sold last month, totaling $44.2M. This was the first time in several months that there were more sales than there were in 2022 (44). Of course, that isn’t surprising since it was a little over a year ago that interest rates began rising and slowed down the real estate market (along with low inventory levels). Inventory remains low, and in fact it even fell in some neighborhoods like Mt Crested Butte (although notably it increased in downtown Crested Butte in particular). August is often a busy month in local real estate, so it will be interesting to see if that trend continues through the fall. 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. 7/31/2021 through 7/31/2022 versus the same period from 2022 to 2023). 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: Available inventory increased in this neighborhood slightly, with 8 of the 20 listings currently under contract
- Mount Crested Butte (All Residential): Inventory in this neighborhood fell slightly, and the number of properties under contract increased slightly as well. For condos only, see below:
- Mount Crested Butte (Condos/Townhomes): The condo market reflected what’s going on in Mt Crested Butte in general.
- Crested Butte: 6 homes are under contract downtown, which is actually more than we’ve seen in a while.
- Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, Meridian Lake and Trapper’s Crossing. For the second month in a row, tThis area saw a nice uptick in inventory.
- Gunnison: 14 of the 33 properties listed in Gunnison are under contract.
- Gunnison Area: This includes areas such as Dos Rios, Ohio Meadows, Cranor Hill, and Hartman Rocks. This area saw a slight increase in inventory.
- 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): Vacant land inventory continues to increase in the Crested Butte area.
- Land Sales (Total): This category also covers our entire MLS area, including Almont, Lake City, Pitkin, Crested Butte, Gunnison, and other parts of the Crested Butte/Gunnison area. Vacant land inventory is rising faster than it is in the residential sector.
Crested Butte/ Gunnison Home Sales, July 2023:
Crested Butte/ Gunnison Land Sales, July 2023:
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.
