2015 finished strong, with December recording the highest number of sales in the past several years. That brought the year end Crested Butte/ Gunnison statistics to 600 sales and a total dollar volume of $233 million. Compared to 2014, that translated into a 19% increase in sales and a 26.6% increase in dollar volume. While we still have not re-achieved the sales prices before the Great Recession, signs such as fewer days on market, increased levels of building, and higher sales prices all point to a strong local real estate market. Starting this year, I am now reporting median sales prices, rather than average sales prices. 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. 12/31/2013 through 12/31/2014 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: CB South was a strong area locally, with a big increase in sales and falling days on market. Land sales in this area were strong as well.
- Mount Crested Butte (All Residential): Sales near the ski area have slowed in recent months. Much of this can be attributed to a lack of inventory, especially in the lower price ranges. If you’ve been considering selling, this is a great time.
- Mount Crested Butte (Condos/Townhomes): Condos in the new Timbers condo complex (formerly the Marcellina apartments) are now officially under contract, resulting in a large number of properties under contract.
- Crested Butte: Sales within town limits were similar to the previous year.
- Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, and Trapper’s Crossing. Sales in this area were up slightly in 2015.
- 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. Sales have more than doubled year over year, and median sales price is up 23%.
- 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 increased sales and falling days on market 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, starting last spring, more than doubling sales volume compared to the previous 12 months. Median sales price is actually falling, as buyers have been most interested in less expensive properties in areas such as Crested Butte South.
- 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, December 2015
Crested Butte/ Gunnison Land Sales, December 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.