While the holiday season is typically slow in Gunnison/ Crested Butte real estate, that was not the case this year. 109 real estate transactions occurred last month, with a total dollar volume of $80.6M. Last year had been a record, with 51 transactions, so 2020 more than doubled last year’s pace. For the entire year, there were 480 transactions/ $523M in 2020, compared to 317/ $225M in 2019 in the Crested Butte area. Who would have guessed such a strong year back in April when the entire real estate market was basically at a standstill. I’m often asked to give market predictions, and while that isn’t an easy question with all the things going on right now, I did write up an outlook here. 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. 12/31/2018 through 12/31/2019 versus the same period from 2019 to 2020). 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: There are only 3 residential properties listed for sale right now, and all of them are under contract. If you’ve been waiting for the perfect time to sell your home in Crested Butte South, this is it.
- Mount Crested Butte (All Residential): Residential inventory in Mount Crested Butte dropped further. For condos only, see below:
- Mount Crested Butte (Condos/Townhomes): We still aren’t seeing a lot of Grand Lodge units sell, but nearly everything else in Mount Crested Butte is selling quickly.
- Crested Butte: Downtown Crested Butte continues to lead the way, with a median sales price of nearly $1.3M. Of 23 listings, 8 are under contract. A development property on 6th street, potentially a boutique hotel, went under contract last month.
- Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, Meridian Lake and Trapper’s Crossing.
- Gunnison: There are only 20 listings right now, but at least that’s holding steady unlike many other areas that continue to shrink.
- Gunnison Area: This includes areas such as Dos Rios, Ohio Meadows, Cranor Hill, and Hartman Rocks. Along with downtown Gunnison, the area surrounding Gunnison has been extremely active. As prices in Crested Butte continue to rise, I expect to see this trend continue, especially north of Gunnison. Inventory fell once again in rural Gunnison.
- 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): Vacant land sales in Crested Butte continue to gain momentum due to the lack of residential inventory. Contractors will undoubtedly be busy for a while. You may note that days on market increased- that’s because many land listings tend to stick around for a while, so when they start selling again like they are now, the DOM may increase.
- 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 2020
Crested Butte/ Gunnison Land Sales, December 2020:
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.