October 5, 2015
Crested Butte Real Estate Market Report, September 2015
As is often the case, late summer was a busy time for land and home sales in Crested Butte and Gunnison. 57 properties sold in September 2015, the most in several years. Year to date, 330 homes have exchanged hands, compared to 283 at this time last year- an increase of 17%. The most substantial increase, by far, is the city of Gunnison which has more than doubled the number of sales year over year. Land in the Crested Butte area is also up, with 103 sales in the past year compared to just 46 in the 12 months preceding that. Despite the increased volume, average sales prices remain somewhat steady though asking prices are seeing increases. If you aren’t already receiving my monthly newsletters which include my market reports and what’s going on in the area, 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. 9/30/2013 through 9/30/2014 versus the same period from 2014 to 2015). 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 and Gunnison 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: Sales volume remains high in CB South, though the number of properties under contract is down from the past few months.
- Mount Crested Butte (All Residential): Recent luxury home sales have increased the average sales price in this area.
- Mount Crested Butte (Condos/Townhomes): Condos in the new Timbers condo complex are now officially under contract, resulting in 45 of the 159 active listings now being under contract. Inventory at many price points remains tight, making this a great time to sell.
- Crested Butte: The town of Crested Butte remains strong, though the number of properties currently under contract is down slightly.
- Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, and Trapper’s Crossing. This area can have some of the largest sales in the area- resulting in the high average sales price.
- Gunnison: The Gunnison market has been the busiest segment of the local market for the past few months. Why? One factor is the continued escalation of asking prices in the Crested Butte area- driving some buyers downvalley to Gunnison. There have been 86 sales in the past 12 months, compared to 39 in the 12 months before that.
- Gunnison Area: This includes areas such as Dos Rios, Ohio Meadows, Cranor Hill, and Hartman Rocks. Like the town of Gunnison, the surrounding area has seen incresed sales over the past 12 months.
- 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 increase in land sales in the Crested Butte area has been noticeable over the past few months, resulting more than double the sales year over year.
- Land Sales (Total): This category also covers our entire MLS area, including Lake City, Pitkin, Crested Butte, Gunnison, and points between.
Crested Butte/ Gunnison Property Sales, September 2015
Crested Butte/ Gunnison Land Sales, September 2015:
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.