February continued the strong start made in January in local real estate. There were 36 transactions totaling $17.6 million, more than any year since at least 2006. This is perhaps slightly surprising, given that inventory continues to be limited in many price ranges and property types. That said, there has been a slight uptick in listings in a few areas, perhaps a sign of things to come after the ski area closes this spring. If you or someone you know is contemplating selling local property, now is a great time to do so. 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. 2/28/2017 through 2/28/2018 versus the same period from 2018 to 2019). 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: The median sales price is $120,000 more than it was just one year ago, and properties continue to sell quickly.
- Mount Crested Butte (All Residential): Mount Crested Butte is one of the few local areas that saw a slight uptick in listings. For condos only, see below:
- Mount Crested Butte (Condos/Townhomes): As above. Also of note, Crested Butte ski condos sell on average for far less than similar properties in other ski towns like Summit County, Vail, and Telluride.
- Crested Butte: Total sales in this area are slightly higher, although prices dropped slightly.
- Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, Meridian Lake and Trapper’s Crossing. Traditionally, the town of Crested Butte boasts the highest average sales price, but the surrounding areas now claim that spot, with a median sales price over $1 Million.
- Gunnison: Limited inventory and strong demand in Gunnison equals a very short average days on market of 71 days.
- Gunnison Area: This includes areas such as Dos Rios, Ohio Meadows, Cranor Hill, and Hartman Rocks.
- 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 in the upper valley remain strong. Recent heavy snowfall may limit sales in the short term, until the land is more visible.
- 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. As above, many buyers are choosing to buy land due to the lack of homes available.
Crested Butte/ Gunnison Home Sales, February 2019
Crested Butte/ Gunnison Land Sales, February 2019:
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.