For the first time in several months, sales in December 2019 were higher than the previous year. In the Gunnison/ Crested Butte area, there were 49 sales totaling $35.9 Million, compared to 37 sales last year and a total of $19.6 Million. For the year, sales transactions were down 18%, although dollar volume was up slightly, at 1% for the year thanks to the strong December finish. 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 Appreciation
For the end of the year (and the decade!), I ran some additional calculations, for annual appreciation.
Crested Butte (All Property Types):
10 Year: 4.3%
5 Year: 11.5%
3 Year: 13.4%
1 Year: 25.5%
Gunnison (All Property Types):
10 Year: 4.2%
5 Year: 7.6%
3 Year: 12.3%
1 Year: 10.1%
Crested Butte Condos:
10 Year: 3.2%
5 Year: 11.6%
3 Year: 18.8%
1 Year: 20%
Crested Butte Land:
10 Year: -1.7%
5 Year: 13.3%
3 Year: 20.1%
1 Year: 37.1%
The following year over year graphs compare the previous 365 days with the same period one year ago (i.e. 12/31/2018 through 12/31/2018 versus the same period from 2018 to 2019). 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: CB South remains a popular choice in the area, though inventory is currently low.
- Mount Crested Butte (All Residential): The drop in sales volume is particularly noticeable in Mount Crested Butte, due to the small supply of lower-priced condos compared to even one year ago. For condos only, see below:
- Mount Crested Butte (Condos/Townhomes): As noted above, condos sales are slower due to a low inventory at the lower price points.
- Crested Butte: The median sales price in town is now well over $1 Million, and only 3 of the 35 active listings are currently under contract.
- Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, Meridian Lake and Trapper’s Crossing. Like town, the surrounding area now has a median price over $1 Million. 3 of the 65 listings are under contract.
- Gunnison: If Crested Butte continues to grow, expect further price increases in the Gunnison area, similar to other “downvalley” towns near other ski areas, like Eagle (Vail), or Basalt (Aspen). We’ve been seeing this for quite some time, with limited inventory and a short 80 days on market. This is an excellent area for an investment or development. 14 of the 35 listings are under contract.
- Gunnison Area: This includes areas such as Dos Rios, Ohio Meadows, Cranor Hill, and Hartman Rocks.
- 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): Total transactions of vacant land in the Crested Butte area are down significantly. The good news for buyers is a strong supply of land for sale.
- Land Sales (Total): This category also covers our entire MLS area, including Almont, Lake City, Pitkin, Crested Butte, Gunnison, and other parts of the Crested Butte/Gunnison area.
Crested Butte/ Gunnison Home Sales, December 2019
Crested Butte/ Gunnison Land Sales, December 2019:
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.