35 properties closed in June 2023- far below the number of transactions the past 2 years but also similar to the volume seen in the early ’10s. Inventory finally started to increase, as it typically does at this time of year. The big question will be if all of that new inventory quickly sells/ goes under contract. Considering there are still multiple offer situations and properties that go under contract in just a day or two, I won’t be surprised if inventory remains at the historic lows its been stuck at for many months. 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. 5/31/2021 through 5/31/2022 versus the same period from 2022 to 2023). 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: Available inventory increased in this neighborhood, but half of the listings are already under contract.
- Mount Crested Butte (All Residential): In just the past few days, I’ve noticed a number of attractively priced listings near the ski area- some of which are still available. For condos only, see below:
- Mount Crested Butte (Condos/Townhomes): As mentioned above, inventory crept upward slightly.
- Crested Butte: Only 2 homes are under contract in downtown Crested Butte, an area which has been sluggish recently due to prices and perhaps short term rental considerations. Of note, both of the properties under contract are relatively inexpensive for town.
- Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, Meridian Lake and Trapper’s Crossing. 15 listings in the areas surrounding Crested Butte are under contract- most of them are “new builds” that are still under construction and have been under contract for a while.
- Gunnison: Only 27 properties are for sale in Gunnison, and 16 of those are under contract.
- Gunnison Area: This includes areas such as Dos Rios, Ohio Meadows, Cranor Hill, and Hartman Rocks. These areas only saw an increase of 2 properties on the inventory side of things- it remains a tight market.
- 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): 41 of the 141 listings are under contract, most of them at the newest land offerings in the Prospect subdivision in Mt Crested Butte. This is an increase of 20 additional properties for sale compared to a month ago.
- 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. Sales have slowed since last year, and I would expect to see an increase in inventory this spring/summer.
Crested Butte/ Gunnison Home Sales, May 2023:
Crested Butte/ Gunnison Land Sales, May 2023:
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.