November 2021 Crested Butte Real Estate Market Report

Blog Market Reports

Every time I think our real estate inventory can’t fall any lower, it does. While part of that is seasonal, with sellers waiting for ski season or after the holidays to list their homes, it also shows that the few properties that do go on the market are quickly put under contract. In short, there are still far more buyers than there are sellers, and that means prices will likely continue to rise. Last month was the first month that didn’t set a sales volume record (for the month) since sales began picking up in the summer of 2020- though I believe that’s mostly due to the aforementioned lack of inventory. If you aren’t already receiving my monthly newsletters which include my market reports and community updates, please click the button below:

crested butte real estate market

The following year over year graphs compare the previous 365 days with the same period one year ago (i.e. 10/31/2019 through 10/31/20 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 many reasons for it, but CB South is increasingly becoming one of the most popular areas. A recent HOA vote will limit short term rentals to 90 days, although CB South has never been the most popular area for vacation rentals.
    • Mount Crested Butte (All Residential): One year ago, there were 123 properties for sale, which I considered low inventory. Today, that number is just 65, and 43 of those are under contract. For condos only, see below:
    • Mount Crested Butte (Condos/Townhomes): All summer, I’ve been wondering when Grand Lodge condos would finally start selling. With just 5 units available, compared to around 30 most of the summer, and the majority of those going under contract in just the past two weeks, that answer is “now”. This is a great time to list a Grand Lodge condo.
    • Crested Butte: Downtown Crested Butte is the one area that seems to be slowing. Only 3 of the 21 listings are under contract. My guess is that the one year short term rental moratorium is the reason why. The “empty home tax” did not pass with voters.
    • 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 much of it is under contract.
    • Gunnison: Gunnison real estate continues to sell quickly.
    • Gunnison Area: This includes areas such as Dos Rios, Ohio Meadows, Cranor Hill, and Hartman Rocks. This has been another popular area, although with only 12 of the 31 listings currently under contract, perhaps sales are slowing slightly in this zone.
    • 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, vacant land for sale near Crested Butte is becoming 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.

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Crested Butte/ Gunnison Home Sales, October 2021

2021 crested butte condo sales
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Crested Butte/ Gunnison Land Sales, October 2021:

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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.

November 2021 Crested Butte Real Estate Market Report
Article Name
November 2021 Crested Butte Real Estate Market Report
November 2021 Crested Butte real estate information: Graphs, statistics, sold data, and analysis of the Crested Butte and Gunnison markets. Compare year over year statistics for all the major neighborhoods in the area.