November 28, 2013
Crested Butte Market Report, November 2013
The following is a brief synopsis of real estate sales in the Crested Butte and Gunnison areas, starting from January 1st. Scroll to the bottom if you would like to see the graphs. If you are looking for other statistics, such as inventory, or a more specific neighborhood analysis, please contact me.
- Crested Butte South: Total residential sales in Crested Butte South are up 32% compared to last year, a very nice increase for this area which is experiencing a solid recovery. Average sales price is only up slightly, primarily due to 2013 sales of very inexpensive condos.
- Mount Crested Butte (All Residential): Total sales in Mount Crested Butte are up 29.6%, with the average sales price up 10.3% for the year.
- Mount Crested Butte (Condos/Townhomes): Condominium and townhome sales near the base of the ski area are doing much better, up 34.9%. With 85 sales this year, inventory levels are finally getting back to normal, and the average price is up 7.1%
- Crested Butte: Sales in the town of Crested Butte are flat for the year, though Crested Butte went through the recession in better shape than other areas. Prices are up substantially- 33% versus 2012.
- Gunnison: Gunnison is recovering nicely, with the number of units sold up 44.8%, and the average price up 36%
- Total Residential Sales: This category covers our entire MLS area, including Lake City, Pitkin, Crested Butte, Gunnison, and points between. 371 units sold so far in 2013, up 25.3%, while the average sales price is up 20.5%
- Land Sales (North end of the valley): With many properties selling below replacement cost, land sales have been lagging the strong residential recovery, with prices from Crested Butte South through Mount Crested Butte only up 1.9%. 58 parcels have been sold thus far, up 11.5%. This is a great time to purchase land in Crested Butte.
- Land Sales (Total): 118 properties (up 8.3%) have sold, with prices up 9.2% for the year.