Real Estate sales in Crested Butte and Gunnison were right on average for November, 2015, with 28 sales recorded. Days on Market has fallen in most areas, and this month marks the first time that I will begin tracking that statistic as well (see graph below). Properties under contract are down, but that is to be expected until the holiday season ends and activity starts to once again rise. Year to date, sales volume is up 11% over last year, and far above the numbers seen during the last recession. The most substantial increases have been in the Gunnison area and land sales throughout the county. Despite the increased volume, average sales prices remain somewhat steady although asking prices are increasing due to the low inventory. If you aren’t already receiving my monthly newsletters which include my market reports and what’s going on in the area, 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. 11/30/2013 through 11/30/2014 versus the same period from 2014 to 2015). 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 Crested Butte and Gunnison 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: Decreased inventory as well as a jump in list prices have slowed home sales in CB South in the past couple of months. That said, CB South has had a strong year, with increased sales and falling days on market.
- Mount Crested Butte (All Residential): Sales near the ski area have slowed in recent months. Much of this can be attributed to a lack of inventory, especially in the lower price ranges. If you’ve been considering selling, this is a great time.
- Mount Crested Butte (Condos/Townhomes): Condos in the new Timbers condo complex (formerly the Marcellina apartments) are now officially under contract, resulting in a large number of properties under contract.
- Crested Butte: The town of Crested Butte is a small market, so the numbers in this area jump around quite a bit. 2015 should end strong, with a number of properties currently under contract.
- Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, and Trapper’s Crossing. This area can have some of the largest sales in the area- resulting in the high average sales price.
- Gunnison: The Gunnison market has been the busiest segment of the local market for the past few months. Why? One factor is the continued escalation of asking prices in the Crested Butte area- driving some buyers downvalley to Gunnison. Sales have more than doubled year over year.
- Gunnison Area: This includes areas such as Dos Rios, Ohio Meadows, Cranor Hill, and Hartman Rocks. Like the town of Gunnison, the surrounding area has seen increased sales and falling days on market over the past 12 months.
- Total Residential Sales: This category covers our entire MLS area, including Lake City, Pitkin, Crested Butte, Gunnison, and points between.
- Land Sales (Greater Crested Butte area): The increase in land sales in the Crested Butte area has been noticeable, starting last spring, more than doubling sales volume compared to the previous 12 months. Even now, with snow on the ground, a number of parcels are under contract.
- Land Sales (Total): This category also covers our entire MLS area, including Lake City, Pitkin, Crested Butte, Gunnison, and points between.
Crested Butte/ Gunnison Property Sales, November 2015
Crested Butte/ Gunnison Land Sales, November 2015:
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.