83 properties in the Crested Butte/ Gunnison area sold in December, 2021, compared to 109 in 2020. Dollar volume of those sales was still up by about 10%, however. These figures represent the current situation in the area- there is still a lot of buyer demand but finding properties is increasingly more difficult, with our inventory levels continually falling even farther below the previous record low levels. Recently, interest rates have increased and they are expected to continue rising throughout 2022, which may slightly damper buyer demand. Stocks and Crypto have been losing value so far in 2022- will that mean buyers have less money to put down, or does it mean they’ll shift investments towards real estate? Time will tell… 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. 12/31/2019 through 12/31/20 versus the same period from 2020 to 2021). 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 has been one of the most popular areas in the Gunnison valley over the past couple of years. A recent HOA vote limited short term rentals in the area to 90 days, but there will be a re-vote due to the way the votes were counted. That said, CB South has never been the most popular area for short term rentals.
- Mount Crested Butte (All Residential): Inventory continues to fall near the ski area, with just 46 listings and 26 of those under contract at the New Year. For condos only, see below:
- Mount Crested Butte (Condos/Townhomes): Grand Lodge condos have quickly been selling, with just 6 units currently available.
- Crested Butte: Last month, I noted that sales in this area looked like they were slowing down. Today, with a few more homes under contract, it looks like it might be picking up. Effects of the one year short term rental ban remain unknown. There are only 15 listings downtown.
- Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, Meridian Lake and Trapper’s Crossing. Like other areas, rural Crested Butte doesn’t have much inventory at this time, and over half of it is under contract.
- Gunnison: Gunnison real estate continues to sell quickly, with 11 of just 14 listings under contract as of 1/1/22.
- Gunnison Area: This includes areas such as Dos Rios, Ohio Meadows, Cranor Hill, and Hartman Rocks. Listings in this area fell some more, with just 22 listings as of the New Year.
- 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): Once plentiful, home building sites for sale near Crested Butte are becoming scarce.
- 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. Like the Crested Butte area, land sales throughout the county have increased greatly year over year. Land sales last month dropped quite a bit compared to previous months, but I believe that is due to the lack of inventory.
Crested Butte/ Gunnison Home Sales, January 2021
Crested Butte/ Gunnison Land Sales, January 2021:
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.