The big news was just announced yesterday- Vail Resorts will be the new owners of Crested Butte Mountain Resort, replacing the Mueller family as owners. It’s too soon to tell what the exact effect of this change will be for Crested Butte real estate, but it’s a safe bet that values will be increasing. When the Mueller’s purchased Crested Butte from the Walton/Calloway family, real estate prices skyrocketed- but this was also in the “easy lending” days before the real estate crash of 2008. This time around, I doubt it will be as drastic, but you never know. 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. 5/31/2016 through 5/31/2017 versus the same period from 2017 to 2018). 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: Several new listings in May were quickly under contract, indicating continued strong demand but limited supply in CB South.
- Mount Crested Butte (All Residential): Don’t let the days on market shown below fool you- the change is attributable to the Timbers condos, which stayed on the market for a long time during construction, thus skewing the older DOM. For condos only, see below:
- Mount Crested Butte (Condos/Townhomes): Condos in this area continue to go up in value.
- Crested Butte: Downtown Crested Butte remains remarkably consistent.
- Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, Meridian Lake and Trapper’s Crossing. This area just recently began to include Meridian Lake, which had been its own area.
- Gunnison: This area would still benefit from more listings, many of which go under contract quickly.
- Gunnison Area: This includes areas such as Dos Rios, Ohio Meadows, Cranor Hill, and Hartman Rocks. Like other neighborhoods in this report, prices are rising in the areas surrounding 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): A highly marketed sales event in Buckhorn Ranch produced more than enough buyers for previously bank-owned lots.
- 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. Sales volume is up heavily if you look at our entire area.
Crested Butte/ Gunnison Home Sales, May 2018
Crested Butte/ Gunnison Land Sales, May 2018:
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.
