October 12, 2017
October 2017 Crested Butte Market Report
September was another good month in Crested Butte real estate, with 78 properties sold at a total of almost $43 million. Last year was great, too, at 77 properties, but for comparison the total value was only $27.7 million. The challenge for buyers continues to be low inventory, with many property owners choosing not to sell despite the increasing prices. It remains a great time to sell for many properties and price points. 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. 9/30/2016 through 9/30/2017 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: Expect the average sales price in CB South to be significantly up by the end of the year, with a number of homes currently under contract.
- Mount Crested Butte (All Residential): Mount Crested Butte continues to be an active area in our local real estate market and prices here are increasing. Due to a decrease in supply, the number of properties under contract is actually down from last month. 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 even.
- Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, and Trapper’s Crossing. There was a small decrease in the number of properties available, adding to an already short supply.
- Gunnison: Amazingly, there are fewer active listings in Gunnison than Crested Butte right now. Not surprisingly, prices are rising.
- Gunnison Area: This includes areas such as Dos Rios, Ohio Meadows, Cranor Hill, and Hartman Rocks. Like downtown Gunnison, prices continue to rise in this area.
- 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): Sales volume increased slightly, and a number of properties recently went under contract before the snow really starts to fly.
- 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 this entire area.
Crested Butte/ Gunnison Home Sales, September 2017
Crested Butte/ Gunnison Land Sales, September 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.