crested butte real estate market report march 2014

Crested Butte Market Report, March 2014

Blog Market Reports

Snow continues to fall in Crested Butte this spring, and by all accounts the 2013/14 ski season should see a nice increase in the number of skier visits. Real Estate in Crested Butte and Gunnison continues to improve in both the number of properties sold and average sales prices. The following graphs compare the previous 365 days with the same period one year ago (i.e. 3/29/2013 through 3/29/2014 versus the same period from 2012 to 2013). With such a small sample size these numbers can really jump around, but generally speaking the local market is in better shape than it has been in quite some time. If you are looking for other statistics, such as inventory, or a more specific neighborhood analysis, please contact me.

    • Crested Butte South: Real Estate sales in Crested Butte South have been strong of late, especially for properties under $400,000 (5 of the 7 listings in CB South under $400,000 are currently under contract). Inventory is down to only a 6 month supply, so if you’ve been considering selling, now is a great time. Prices are up 32%, and the number of sales is up 22%
    • Mount Crested Butte (All Residential): Residential Sales in Mount Crested Butte are up 26%, with the average sales price up 15% for the year.
    • Mount Crested Butte (Condos/Townhomes): Fully half of last year’s 96 sales were for condominiums under $200,000, as buyers continue to seek out the best deals. Average price is up 13%, with sales up 32%
    • Crested Butte: Sales in the town of Crested Butte are relatively flat, however prices are up 43%.
    • Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, and Trapper’s Crossing. Inventory here is currently lower than many other areas.
    • Gunnison: Gunnison’s strong recovery continues, with the number of properties sold up 44%, and the average price up 40%
    • Total Residential Sales: This category covers our entire MLS area, including Lake City, Pitkin, Crested Butte, Gunnison, and points between. 391 properties sold in the past year, up 16%, while the average sales price is up 17%
    • Land Sales (North end of the valley): Winter is usually slow with regards to land sales, but there have been a few lately, hopefully signalling renewed interest which will carry through this summer. Sales are up 9%, with a 20% increase in price.
    • Land Sales (Total): Sales levels are flat with a 21% increase in average sales price.

crested butte real estate market report, march 2014

crested butte real estate market report march 2014

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.