Summer 2021 proved to be every bit as busy as the summer of 2020 in the Crested Butte real estate market. Inventory remains at historically low levels, and that includes vacant land, condos, and homes. While a handful of major metro areas are starting to report a slight slowdown in real estate (but still above average), we haven’t seen that locally. In fact, as we ease into fall we still aren’t seeing very many new listings at all, so this remains a great time to sell. And even on the buying side, I still think it’s a good time to buy, thanks to the low interest rates which one would expect to eventually start creeping higher. 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. 8/31/2019 through 8/31/20 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: The average sales price of a single family home over the past year is now over $1M, as surprising as that may be to hear.
- Mount Crested Butte (All Residential): Real estate near the ski area continues to sell quickly. 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. A handful of Grand Lodge condos recently sold or went under contract- perhaps this affordable option will begin selling even more as we approach winter, given that this is one of the few properties with a solid inventory.
- Crested Butte: Despite a short term rental moratorium within town limits, nearly 40% of the current listings are under contract.
- 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. inventory actually increased slightly in these areas.
- 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 remains a popular option for buyers in the area.
- 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.
Crested Butte/ Gunnison Home Sales, August 2021
Crested Butte/ Gunnison Land Sales, August 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.