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August 31, 2014

Crested Butte Market Report, August 2014

August of 2014 was a very busy month in Crested Butte and Gunnison real estate. 48 properties closed this month, with a median price of $275,000 but with an average sales price of $562,260. Additionally, a large number of properties went under contract in August- more than 10% of the properties currently on the market are also under contract this month, and most areas have a smaller inventory today than they did one month ago. With lower inventories and an active market, this autumn may be a great time to list your property.

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The following year over year graphs compare the previous 365 days with the same period one year ago (i.e. 8/31/2013 through 8/31/2014 versus the same period from 2012 to 2013). 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 Crested Butte 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 be an active area for home sales, especially in the lower price ranges. The average home price is up 27% year-over-year.
    • Mount Crested Butte (All Residential): The number of properties sold in Mount Crested Butte is up compared to the previous year.
    • Mount Crested Butte (Condos/Townhomes): Condo sales in Mount Crested Butte are picking up. Of 178 current listings, 28 of the are under contract.
    • Crested Butte: The average sales price in downtown Crested Butte is now over $800,000. One year ago, it was $609,000 for the previous 12 months. 10 of 59 current listings are under contract.
    • Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, and Trapper’s Crossing. August of 2014 was a great month for this area. With 3 separate sales of at least $2.4 million closing this month, the average sales price jumped considerably.
    • Gunnison: Gunnison real estate is currently very steady, with no large jumps in price or properties sold.
    • Total Residential Sales: This category covers our entire MLS area, including Lake City, Pitkin, Crested Butte, Gunnison, and points between.
    • Land Sales (Greater Crested Butte area): The decrease in average sales price in the graph below is due to a couple of big sales in the previous year skewing the results. With fewer bank-owned or distressed properties came a corresponding reduction in the total number of sales as well.
    • Land Sales (Total): This category also covers our entire MLS area, including Lake City, Pitkin, Crested Butte, Gunnison, and points between.

properties sold crested butte gunnison

august 2014 average sales price crested butte gunnison

Crested Butte/ Gunnison Sold Properties, August 2014
crested butte real estate market sold properties

Crested Butte/ Gunnison Land Sales, August 2014:
crested butte gunnison land sales august 2014

Source: Gunnison Country Association of Realtors’ MLS. Reported sales not necessarily sold or listed by Frank Konsella and are intended only to show area trends.

Posted by Frank Konsella

Frank Konsella is a full-time REALTOR® who has been in Crested Butte, CO for 20 years.   When he isn't working, he's probably skiing the backcountry or out on a bike ride.  Have a question?-  just ask!

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