June of 2016 was a busy month in the Crested Butte market. 64 properties sold in the Crested Butte and Gunnison area totaling $24.5 million, and both of those numbers are more than double those of 2 years ago. One of the main reasons for the uptick are the sales in the new Timbers condos. First listed nearly a year ago, construction is finally nearing completion at Timbers. 20 more units are still under contract, so July figures to be a busy month as well. Inventory is up compared to last month, as are the number of properties currently under contract in most areas. 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. 6/30/2014 through 6/30/2015 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 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: Residential prices in CB South have made strong gains over the past year. The number of homes under contract increased this month, and some of the newer listings are a bit more affordable than what we had been seeing.
- Mount Crested Butte (All Residential): Sales at Timbers dragged the median price down somewhat, but Mount Crested Butte is doing much better. There are a number of new builds currently as well.
- Mount Crested Butte (Condos/Townhomes): As previously mentioned, the sales at Timbers are strongly affecting the statistics in this area. Once all the sales there are completed, the sales numbers in Mount Crested Butte will look quite good compared to just a year or two ago.
- Crested Butte: Sales in town have slowed slightly, though that seems to mostly indicate the lack of inventory (though that did increase this month).
- Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, and Trapper’s Crossing. Luxury sales in this area can make it difficult to track trends in the area, as just a couple of sales can easily skew the statistics. There was a healthy increase in the number of listings in this area last month.
- Gunnison: The median days on market is just over 3 months in Gunnison, our area’s most active market currently.
- 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 prices 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): Land sales have slowed down slightly, which is somewhat surprising given the rising prices of homes in the area. “Spec home” building remains light- once that picks up, land sales may once again see increased activity.
- 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.
Crested Butte/ Gunnison Home Sales, June 2016
Crested Butte/ Gunnison Land Sales, June 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.