November 5, 2017
November 2017 Crested Butte Market Report
October was another good month in Crested Butte real estate, with 78 properties sold at a total of almost $43 million- which is almost identical to September’s figures. Compare that to 2010, when 28 properties sold at a total value of $13 million in October. Year to date, sales volume is up 12% over last year, while the dollar volume is up an impressive 42%! The most remarkable thing about that statement is that 2017 had the highest sales figures in at least a decade. It remains a great time to sell in the Crested Butte and Gunnison area, and low interest rates mean that if you’re patient, it can be a good time to buy as well. Active inventory and properties under contract are down from last month in almost every neighborhood, which is typical as we head towards the ski season. 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. 10/31/2016 through 10/31/2017 versus the same period from 2015 to 2016). 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: In the past 10 days alone, there have been 3 home sales over $750,000 in CB South.
- Mount Crested Butte (All Residential): Shrinking inventory continues to drive prices up near the ski area. For condos only, see below:
- Mount Crested Butte (Condos/Townhomes): Condos in Mount Crested Butte continue to move quickly, despite rising prices and falling inventory. If you see something you like, be prepared to make an offer sooner rather than later. For sellers, the market is better than it’s been in years. This has been the advice for this market segment for months…
- Crested Butte: Town sales continue to be strong and on par with last year, despite the new short term rental regulations.
- Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, and Trapper’s Crossing. There was a big drop in inventory in this area, adding to an already short supply.
- Gunnison: The city of Gunnison is the only area that is lagging behind last year’s numbers- a result of 2016 being a huge year in this area as well as a very limited supply.
- Gunnison Area: This includes areas such as Dos Rios, Ohio Meadows, Cranor Hill, and Hartman Rocks. Just a month ago, there were 86 listings in this area- now that area is only 66.
- 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): Inventory fell approximately 10% as winter approaches.
- Land Sales (Total): This category also covers our entire MLS area, including Almont, Lake City, Pitkin, Crested Butte, Gunnison, and other parts of the Gunnison Country. Sales volume is up heavily if you look at our entire area.
Crested Butte/ Gunnison Home Sales, October 2017
Crested Butte/ Gunnison Land Sales, October 2017:
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.