November 2021 saw 76 sales in the Crested Butte/ Gunnison area, compared to 92 last year. We’re finally starting to see the lack of inventory affect our sales statistics- demand remains high, but there simply aren’t many homes, condos, or even vacant land homesites for sale. While we did see a handful of new listings to accompany the opening of the ski area, those were quickly under contract, just as many other properties have been. This remains a great time for sellers but he low interest rates still make it a great time for buyers as well. I’m looking for an investment property myself, so I’m not just saying that. If you aren’t already receiving my monthly newsletters which include my market reports and community updates, 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. 11/30/2019 through 11/30/20 versus the same period from 2020 to 2021). 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 Gunnison and Crested Butte real estate 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: There are many reasons for it, but CB South is increasingly becoming one of the most popular areas in the Gunnison valley. A recent HOA vote will limit short term rentals to 90 days, although CB South has never been the most ideal area for vacation rentals.
- Mount Crested Butte (All Residential): One year ago, there were 123 properties for sale, which I considered low inventory. Today, that number is just 57, even less than last month. For condos only, see below:
- Mount Crested Butte (Condos/Townhomes): All summer, I’ve been wondering when Grand Lodge condos would finally start selling. That time is now. Several units were listed in the past few days, and I expect them to sell quickly.
- Crested Butte: Last month, I noted that sales in this area looked like they were slowing down. Today, with a few more homes under contract, it looks like it might be picking up. Effects of the one year short term rental ban remain unknown.
- Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, Meridian Lake and Trapper’s Crossing. Like other areas, rural Crested Butte doesn’t have much inventory at this time, and over half of it is under contract.
- Gunnison: Gunnison real estate continues to sell quickly, with 19 of 22 listings under contract.
- Gunnison Area: This includes areas such as Dos Rios, Ohio Meadows, Cranor Hill, and Hartman Rocks. This has been another popular area, although with only 9 of the 27 listings currently under contract, perhaps sales are slowing slightly in this zone.
- Total Residential Sales: This category covers our entire MLS area, including Lake City, Pitkin, Crested Butte, Gunnison, and points between.
- Land Sales (Upper valley from CB South through Mount Crested Butte): Once plentiful, home building sites for sale near Crested Butte are becoming scarce.
- Land Sales (Total): This category also covers our entire MLS area, including Almont, Lake City, Pitkin, Crested Butte, Gunnison, and other parts of the Crested Butte/Gunnison area. Like the Crested Butte area, land sales throughout the county have increased greatly year over year. Land sales last month dropped quite a bit compared to previous months, but I believe that is due to the lack of inventory.
Crested Butte/ Gunnison Home Sales, November 2021
Crested Butte/ Gunnison Land Sales, November 2021:
Source: Gunnison Country Association of Realtors’ MLS/ CREN. Reported sales not necessarily sold or listed by Frank Konsella and are intended only to show area trends.
