Real estate sales in November totaled 64 properties ($34.8M) in the Gunnison- Crested Butte area, a slight increase over last year’s 62 ($28.5M) and far more than each of the past 10 years. As is generally the case at this time of year, the market is currently slow, with only a small number of properties under contract. Inventory is also down, presumably with many buyers waiting for the New Year.
Two Mount Crested Butte properties of high interest are under contract that bear watching for their development value. One is located at the Snodgrass trailhead, and was known as the “North Village“. The other is located in the upper reaches of the Prospect neighborhood, near the top of the Prospect chairlift. 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. 11/30/2016 through 11/30/2017 versus the same period from 2017 to 2018). 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: Both sales prices and the number of transactions are up in this area, which has been one of the strongest performing neighborhoods. That said, inventory in this area was already low, and dropped yet again this month.
- Mount Crested Butte (All Residential): Prices continue to rise near the ski area. Effects from the recent Vail purchase of the resort are only beginning to be felt. Inventory remains a problem. For condos only, see below:
- Mount Crested Butte (Condos/Townhomes): As above.
- Crested Butte: Sales in this area are slightly higher, although prices dropped slightly.
- Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, Meridian Lake and Trapper’s Crossing. Sales have been slower in this area, though the sales price remains steady.
- Gunnison: Sales prices are up slightly in Gunnison, though inventory remains limited.
- Gunnison Area: This includes areas such as Dos Rios, Ohio Meadows, Cranor Hill, and Hartman Rocks. Like other neighborhoods in this report, inventory is down and has been falling for months. Days on Market is very short in this area.
- 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 in the north end of the valley continue to be one of the most popular segments of the local real estate market
- 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. As above, many buyers are choosing to buy land due to the lack of homes available.
Crested Butte/ Gunnison Home Sales, November 2018
Crested Butte/ Gunnison Land Sales, November 2018:
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.