July sales in 2018 were up slightly over 2017 and previous years, and the dollar volume was up nearly 50%. Interestingly, the dollar volume was high even without any substantially high dollar transactions. In Mount Crested Butte, inventory dropped precipitously- perhaps as sellers sit on the sidelines awaiting the final news on Vail’s purchase on Crested Butte Mountain Resort. The lower price points have been popular in Mount Crested Butte as well- right now the least expensive condo at the Grand Lodge is $175,000, which is a huge change from just 6 weeks ago. The lack of inventory remains the main impediment to sales, especially at the lower 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. 7/31/2016 through 7/31/2017 versus the same period from 2017 to 2018). 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: The number of transactions are up, as are sales prices in CB South which remains popular.
- Mount Crested Butte (All Residential): Homes and condos near the Crested Butte ski area continue strong sales. For condos only, see below:
- Mount Crested Butte (Condos/Townhomes): Mount Crested Butte was a busy area last month, but the interesting thing is that there are nearly 30% fewer condos for sale than there were just a month ago.
- Crested Butte: Demand for homes in town is always high, and that doesn’t seem to be changing.
- Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, Meridian Lake and Trapper’s Crossing. Areas near Crested Butte have a higher median sales price than town- but just barely.
- Gunnison: This area would still benefit from more listings, many of which go under contract quickly.
- Gunnison Area: This includes areas such as Dos Rios, Ohio Meadows, Cranor Hill, and Hartman Rocks. Like other neighborhoods in this report, prices are rising and the days on market is fairly short in the areas surrounding Gunnison.
- 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): Land sales continue to be one of the most popular segments of the local real estate scene, nearly double the previous year.
- 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, July 2018
Crested Butte/ Gunnison Land Sales, July 2018:
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.
