September 12, 2017
September 2017 Crested Butte Market Report
88 properties changed hands in the Crested Butte/ Gunnison area last month, totaling over 41.6 million dollars. Last year, those numbers were 78 and $27.1 million. Compare those recent numbers to 2010, when there were just 27 sales totaling 11.1 million dollars, and it’s pretty obvious that the local real estate market is doing very well currently. The challenge for buyers continues to be low inventory, with many property owners choosing not to sell despite the increasing prices. 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. 8/31/2016 through 8/31/2017 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: Activity in CB South recently picked up, even with some of the more expensive homes which had not been selling very often.
- 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. 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.
- Crested Butte: Town sales continue to be strong
- Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, and Trapper’s Crossing. Like Crested Butte, this area also saw an uptick in the number of properties under contract.
- Gunnison: This area continues to see an increase in sales prices, though volume has slowed slightly with faling inventory and higher prices.
- 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, although the median sales price actually fell slightly. Building costs in this area have always been high, and contractors have jobs lined up far in advance right now- which is perhaps another reason why land sales aren’t taking off more than they are.
- 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.
Crested Butte/ Gunnison Home Sales, August 2017
Crested Butte/ Gunnison Land Sales, August 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.