February 2016 Crested Butte Real Estate Market Report

Blog Market Reports

Nineteen properties closed during the month of February, which is on par with the past couple of years and ahead of the ten year average in the Crested Butte/ Gunnison area. Currently, however, the number of properties under contract is fairly small if you exclude the new Timbers development in Mount Crested Butte. Low inventory across certain segments of the market is to blame. If you aren’t already receiving my monthly newsletters which include my market reports and community updates, please click the button below:

crested butte real estate market

The following year over year graphs compare the previous 365 days with the same period one year ago (i.e. 2/28/2014 through 2/28/2015 versus the same period from 2015 to 2016). 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: Only 14 properties are currently listed for sale in CB South, and 3 of those are under contract. There is only a 4.8 month supply in this area, making it a seller’s market.
    • Mount Crested Butte (All Residential): Sales near the ski area have slowed down slightly, but that seems to be due to lower inventory. With a lower supply comes increasing prices, and we’re starting to see that on the mountain.
    • Mount Crested Butte (Condos/Townhomes): The condo market is similar to Mount Crested Butte in general.
    • Crested Butte: While the median sales price actually fell in town, other statistics remain similar.
    • Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, and Trapper’s Crossing. Year over year, sales volume in these areas is up over 50%.
    • Gunnison: Gunnison remains the most active part of the local market, with increasing sales prices, increased volume, and decreasing days on market.
    • Gunnison Area: This includes areas such as Dos Rios, Ohio Meadows, Cranor Hill, and Hartman Rocks. The areas surrounding Gunnison aren’t seeing quite the same increases as those within the city limits, but sales are up here as well.
    • 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): The median price is falling, while buyers concentrate on the more affordable areas such as CB South, but sales volume is up. This is an area where inventory is increasing, though it is likely to go down again during the summer buying season.
    • Land Sales (Total): This category also covers our entire MLS area, including Lake City, Pitkin, Crested Butte, Gunnison, and points between.

Crested Butte real estate sales volume

Crested Butte average sales prices

Gunnison real estate days on market

Crested Butte/ Gunnison Home Sales, February 2016

Crested Butte home sales February 2016

Crested Butte/ Gunnison Land Sales, February 2016:

Crested Butte Land sales February 2016

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.

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February 2016 Crested Butte Real Estate Market Report
February 2016 Crested Butte Real Estate Market Information: Graphs, statistics, sold data, sign-up, and analysis of the Crested Butte and Gunnison markets.