Crested Butte Market Report, September 2013

Blog Market Reports

The following is a brief synopsis of real estate sales in the Crested Butte and Gunnison areas, starting from January 1st. Scroll to the bottom if you would like to see the graphs. Please contact your Crested Butte Real Estate Agent if you have any questions.

  • Crested Butte South: Total sales in Crested Butte South are up 26% compared to last year. The average sales price is actually down 1%, but a closer look at the sales reveals a rosier picture. 2013 included 5 very low priced properties, meaning that the low end of the market is moving again. Without those properties, the sales price is actually up 8.6%
  • Mount Crested Butte (All Residential): Total sales in this category is up a whopping 32%, with the average sales price at $429,000, an increase of 14% over 2012
  • Mount Crested Butte (Condos/Townhomes): Sales of Condos near the ski area had been a weak point in our market, but sales in this area are up as well. 63 units have sold thus far in 2013, up 37%, while the average price is up 17%
  • Crested Butte: Sales within the town limits actually slowed down slightly, down 15% in the number of units sold. Much of that can be contributed to distressed properties leaving the market, however, and prices have increased nicely, up 16.2%
  • Gunnison: Gunnison is recovering nicely, with the number of units sold up 41%, and the average price up a healthy 45%
  • Total Residential Sales: This category covers our entire MLS area, including Lake City, Pitkin, Crested Butte, Gunnison, and points between. 279 units sold so far in 2013, up 23%, while the average sales price is up 17.6%
  • Land Sales (North end of the valley): With many properties selling below replacement cost, land sales have been lagging the strong residential recovery, with prices from Crested Butte South through Mount Crested Butte only up 2.6%. 45 parcels have been sold thus far, up 22%. If you are planning for the future, now is a great time to buy land.
  • Land Sales (Total): 85 properties (up 12%) have sold, with prices up 11% for the year.

Sales Graph 9-13 600

Units Graph 9-13 600