49 properties in the area sold last month, slightly less than the 52 transactions from 2023, but obviously quite similar. Overall, much of 2024 has been quite similar to 2023. Inventory is rising ever so slightly, as are the days on market but for the most part the market has been quite static. Mortgage rates have been falling recently, and that could make things interesting if buyers have renewed interest. 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. 7/31/2022 through 7/31/2023 versus the same period from 2023 to 2024). 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: 35 properties sold in the past year, a year-over-year increase from 26.
- Mount Crested Butte (All Residential): The median sales price fell in this area, due to increased sales of lower priced properties such as the Grand Lodge. For condos only, see below:
- Mount Crested Butte (Condos/Townhomes): The condo market near the ski area continue to be an interesting one, with some properties going under contract very quickly, while others take quite some time to sell.
- Crested Butte: Year over year sales nearly doubled YoY in downtown Crested Butte. Price wise, the median sales price is now an astounding $2,300,000- and that includes condos as well as homes.
- Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, Meridian Lake and Trapper’s Crossing. Sales increased slightly YoY in this area, much of it due to new construction in Buckhorn Ranch.
- Gunnison: Sales are down in Gunnison year over year, likely due to low inventory and increasing prices. The median sales price is up, however.
- Gunnison Area: This includes areas such as Dos Rios, Ohio Meadows, Cranor Hill, and Hartman Rocks. Prices in this area are increasing.
- 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): Vacant land continues to be a slow part of the local market, due to the high interest rates and high building costs. Almost all of the properties currently under contract here are in the “Upper Prospect” area.
- Land Sales (Total): This category also covers our entire MLS area, including Almont, Lake City, Pitkin, Crested Butte, Gunnison, and other parts of the Crested Butte/Gunnison area. Vacant land inventory is rising faster than it is in the residential sector. This trend will almost certainly continue.
Crested Butte/ Gunnison Home Sales, July 2024:
Crested Butte/ Gunnison Land Sales, July 2024:
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.
