March 3, 2014
Crested Butte Market Report, February 2014
The recovery in Crested Butte and Gunnison continues, with both prices and sales numbers up, while inventory levels continue to fall. The following graphs compare the previous 365 days with the same period one year ago (i.e. 3/3/2013 through 3/3/2014 versus the same period from 2012 to 2013). With such a small sample size these numbers can really jump around, but generally speaking the local market is in better shape than it has been in quite some time. If you are looking for other statistics, such as inventory, or a more specific neighborhood analysis, please contact me.
- Crested Butte South: Average sales price is up 23%. Properties sold in Crested Butte South are also up 36% compared to the previous year.
- Mount Crested Butte (All Residential): Residential Sales in Mount Crested Butte are up 22%, with the average sales price up 12% for the year.
- Mount Crested Butte (Condos/Townhomes): Condominium and townhome sales near the base of the ski area are doing much better, up 27%. Additionally, inventory levels are decreasing, and the average sales price is up 5%
- Crested Butte: Sales in the town of Crested Butte are relatively flat, however prices are up 45%.
- Gunnison: Gunnison’s strong recovery continues, with the number of properties sold up 44%, and the average price up 43%
- Total Residential Sales: This category covers our entire MLS area, including Lake City, Pitkin, Crested Butte, Gunnison, and points between. 395 properties sold in the past year, up 18%, while the average sales price is up 19%
- Land Sales (North end of the valley): With so many properties selling below replacement cost, land sales are a step behind. Recently, however, land sales have increased 10% and the average price is up 16%.
- Land Sales (Total): Flat sales levels with a 24% increase in average sales price.
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.