43 properties sold in the Crested Butte and Gunnison area last month, compared to 72 last year. Dollar volume was fairly similar, however- $43.7M in 2022 and $47.8M in 2021. I know I’m a broken record on this, but lack of inventory is the reason for the lower sales: there simply aren’t a lot of homes for sale right now. Buyer demand remains high, especially with mortgage rates dipping a bit over the past 2 weeks. I don’t see any reason to think that the current state of buyer demand and seller supply will change in the short term, especially with uncertainty surrounding Russia’s unfortunate invasion of Ukraine. 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. 2/28/2020 through 2/28/2020 versus the same period from 2021 to 2022). 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: CB South has been one of the most popular areas in the Gunnison valley over the past couple of years. Many homes are selling for well over $1,000,000, and land sales prices have also increased considerably.
- Mount Crested Butte (All Residential): Inventory continues to fall near the ski area, with just 43 listings and 18 of those under contract at the end of February. For condos only, see below:
- Mount Crested Butte (Condos/Townhomes): Grand Lodge condos have quickly been selling, with just 6 units currently available. Other condos in the area are selling just as quickly.
- Crested Butte: Effects of the one year short term rental ban remain unknown (will it continue this summer?). There are only 17 listings downtown.
- Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, Meridian Lake and Trapper’s Crossing. Like other areas, rural Crested Butte doesn’t have much inventory at this time, and 2/3rds of what is listed is under contract.
- Gunnison: Gunnison real estate continues to sell very quickly, regardless of condition.
- Gunnison Area: This includes areas such as Dos Rios, Ohio Meadows, Cranor Hill, and Hartman Rocks. Active listings in this area fell to even lower inventory levels, with just 23 listings.
- 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): Once plentiful, home building sites for sale near Crested Butte are becoming quite scarce.
- 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 greatly year over year. Land sales last month dropped quite a bit compared to previous months, but I believe that is due to the lack of inventory.
Crested Butte/ Gunnison Home Sales, February 2022
Crested Butte/ Gunnison Land Sales, February 2022:
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.
