February 2019: Market Update

Current Market Conditions for February 2019

There are currently 8 single family homes over $1 million under contract, 3 of which are our listings and 2 of which we are assisting both Buyers and Sellers. This is 3 more than last month. Condos and single family homes under a million remain in high demand and continue to go under contract quickly. 

Sales

Single family home sales are up 25% over January, 2018. Condos on the other hand are down 57% over last January’s sales. This may be due to increased prices and Buyers need time to adjust to the new price points. 

We experienced 5 single family homes and 3 condo/town home sales in the upper valley in January. These 8 sales totaled $6,873,000, and were down from 11 the previous month. Sales ranged from a one bedroom condo in the Evergreen Condos selling for $234,000 to a beautiful home in Crested Butte for $1,350,000.

Land sales continue to slow due to it being winter with only 8 sales in January, down 3 from last month, totaling $3,409,500. Sales prices ranged from a Crested Butte South lot for $72,000 to a 1-acre commercial lot 3.5 miles south of Crested Butte which sold for $1,900,000.

SF = single family residence
Upper valley = Mt. Crested Butte, Crested Butte, Rural Crested Butte, Crested Butte South, Almont, and Kebler.

Active Listings

Inventory remains low. The most significant changes have happened in Mt. Crested Butte, with an increase in condos and a decrease in single family homes. Other areas are very similar to last month.

Currently there are 20 single family homes on the market in the town of Crested Butte, up one from January. Mt. Crested Butte has 20 active homes, down 5 from last month. Mt. Crested Butte condo and town home inventory had the biggest increase in listings with 67 active condos and town homes on the market, up 11 from January. Rural Crested Butte inventory has 57 single family homes, up 2 from last month. Rural Crested Butte has 13 condos and town homes on the market. Crested Butte South continues to have extremely low inventory with 7 single family homes and only 7 condos/town homes available.

SF = single family residence
Upper valley = Mt. Crested Butte, Crested Butte, Rural Crested Butte, Crested Butte South, Almont, and Kebler.

Leading the Market

Our team was honored to help more people in the valley than anyone else in 2018. Our activity earned us the #1 spot with 77 transactions and #2 for sales volume totaling $34,953,810.

*Source: CREN January 4, 2019

Source: CREN. All reported statistics were not necessarily listed/sold by Crested Butte Collection. Information is intended only to show trends in the area.