April 2023 once again saw far fewer sales than the same month in the past two years, but at the same time it was near the same level as 2019 and other previous years. As I’ve been mentioning for several market updates, extremely low inventory continues to be a primary reason, along with higher interest rates. In fact, inventory in most of our areas is lower than it was in my last report, although I would expect it to finally increase somewhat in the next few weeks prior to the traditionally busy summer selling season. 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. 4/30/2021 through 4/30/2022 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: As has generally been the case in this area, many of the limited listings in this neighborhood are under contract.
- Mount Crested Butte (All Residential): There was a slight increase in listings in Mt Crested Butte, but also a few more properties under contract. For condos only, see below:
- Mount Crested Butte (Condos/Townhomes): As mentioned above, “status quo” might be a good way to describe the ski area condo market.
- Crested Butte: Only 1 home is under contract in downtown Crested Butte, an area which has been sluggish recently due to prices and perhaps short term rental considerations.
- Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, Meridian Lake and Trapper’s Crossing. 13 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 10 of those are under contract.
- Gunnison Area: This includes areas such as Dos Rios, Ohio Meadows, Cranor Hill, and Hartman Rocks. This area has nearly triple the amount of homes under contract compared to the last report.
- 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): 44 of the 121 listings are under contract, most of them at the newest land offerings in the Prospect subdivision in Mt Crested Butte.
- 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 wouldn’t be surprised for this category to see an increase in inventory this spring/summer.
Crested Butte/ Gunnison Home Sales, April 2023:
Crested Butte/ Gunnison Land Sales, April 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.