February 3, 2014
Crested Butte Market Report, January 2014
The following graphs compare the previous 365 days with the same period one year ago. As you can see, the Crested Butte and Gunnison areas are experiencing a nice recovery. One area which has been particularly active is condo/ townhome sales under $300,000 in Mount Crested Butte, with 11 of the 79 listings currently under contract. If you are looking for other statistics, such as inventory, or a more specific neighborhood analysis, please contact me.
- Crested Butte South: Sales in Crested Butte South are up 30% compared to last year. Average sales price is also up 15%.
- Mount Crested Butte (All Residential): Residential Sales in Mount Crested Butte are up 12%, with the average sales price up 22% for the year.
- Mount Crested Butte (Condos/Townhomes): Condominium and townhome sales near the base of the ski area are doing better, up 14%. Additionally, inventory levels are decreasing, and the average price is up 12%
- Crested Butte: Sales in the town of Crested Butte are relatively flat, however prices are up 46%.
- Gunnison: The recovery in Gunnison continues, with the number of units sold up 50%, and the average price up 37%
- Total Residential Sales: This category covers our entire MLS area, including Lake City, Pitkin, Crested Butte, Gunnison, and points between. 392 properties sold in the past year, up 17%, while the average sales price is up 25%
- Land Sales (North end of the valley): With so many properties selling below replacement cost, land sales have been slow to pick up. Recently, however, land sales have increased 13% and the average price is up 20%.
- Land Sales (Total): Flat sales levels with a 25% 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.