We continue to see an active real estate market in Crested Butte and Gunnison, despite very low inventory. There were 69 sales, compared to 40 a year ago. Many of those sales were vacant land, one property type which still offers buyers a range of choices. Even with land, however, there is roughly 30% less inventory than there was a year ago. In fact, in nearly every area or property type, there seems to be 25-35% less inventory than a year ago. It remains a great time to sell, while for buyers, patience is important. 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. 2/29/2019 through 2/28/20 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: There are only 4 residential properties listed for sale right now, and all of them are under contract- basically the same situation as it was a month ago. If you’ve been waiting for the perfect time to sell your home in Crested Butte South, this is it.
- Mount Crested Butte (All Residential): Inventory in Mount Crested Butte fell once again, while pending sales remained the same. For condos only, see below:
- Mount Crested Butte (Condos/Townhomes): Condos near the ski area, even in the higher price ranges, remain a rare commodity. Grand Lodge and Three Season condos, which sometimes take longer to sell, are starting to see more activity.
- Crested Butte: Downtown Crested Butte continues to lead the way, with a median sales price of nearly $1.3M. Of 17 listings, 10 are under contract. Commercial sales have been very active this year, largely due to one buyer who has purchased or is under contract to purchase several buildings in Crested Butte.
- Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, Meridian Lake and Trapper’s Crossing. Year over year sales increased from 40 to 102!
- Gunnison: Many properties in Gunnison continue to see multiple offers and accepted contracts within days.
- Gunnison Area: This includes areas such as Dos Rios, Ohio Meadows, Cranor Hill, and Hartman Rocks. Along with downtown Gunnison, the area surrounding Gunnison has been extremely active. As prices in Crested Butte continue to rise, I expect to see this trend continue, especially north of Gunnison. Inventory fell once again in rural 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): Vacant land sales in Crested Butte have exactly doubled year over year, from 84 to 168.
- 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 and nearly doubled year over year.
Crested Butte/ Gunnison Home Sales, February 2021
Crested Butte/ Gunnison Land Sales, February 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.
