An incredible 78 properties changed hands last month in the Crested Butte and Gunnison area. This is up from 53 a year ago. The areas that have seen the largest gains include Mount Crested Butte and Gunnison. Average sales prices are up nearly across the board. Still, lack of inventory may slow sales down- especially in certain market segments, such as ski condos under $200,000. 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. 8/31/2014 through 8/31/2015 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: Sales price has increased substantially in CB South, though that has slwed down the number of transactions slightly.
- Mount Crested Butte (All Residential): Sales volume is up, even if you take away the new Timbers Condo development.
- Mount Crested Butte (Condos/Townhomes): The concern in this category might be the lack of inventory, as it is becoming harder to find entry- level properties.
- Crested Butte: While sales are down slightly, there is still only a 12 month supply of homes, which is considered to be a good balance between buyers and sellers.
- Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, and Trapper’s Crossing. Luxury sales in this area can make it difficult to track trends in the area, as just a couple of sales can easily skew the statistics. This area is holding steady.
- Gunnison: The median days on market is just over 3 months in Gunnison, our area’s most active market currently. Inventory fell slightly this month.
- Gunnison Area: This includes areas such as Dos Rios, Ohio Meadows, Cranor Hill, and Hartman Rocks. The areas surrounding Gunnison aren’t seeing quite the same increases as those within the city limits, but sales prices are up here as well.
- 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 have slowed down slightly, which is somewhat surprising given the rising prices of homes in the area. The median sales price in this category is up 60%, though much of that is attributable to a few larger sales.
- 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 2016
Crested Butte/ Gunnison Land Sales, August 2016:
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.