Crested Butte Collection Newsletter
August 2021 Edition
As the days are starting to get shorter, we continue to enjoy the summer season here in Crested Butte. July was extremely busy with record numbers of people visiting our beautiful valley. Many of our regular festivals and events returned after a yearlong hiatus, including the 49th Annual Crested Butte Arts Festival which was in a new location this year. In our opinion, August is one of the best months to visit and though summer is starting to wind down, there is still plenty of time to get out and enjoy hiking and/or biking in the high country.
As we head into August, the overall residential real estate market continues to thrive. We have closed over $220mil in sales volume so far this year with another $112.2mil currently under contract. The sales volume at this time last year was $84.8mil. The average sales price is up a whopping 21% to $1,019,985 from $807,784. Inventory continues to be our biggest challenge with properties going under contract almost as fast as they come on the market.
Kiley & Erin
Leaders in Crested Butte Real Estate
Crested Butte Collection ranked #1 for quantity of transactions and #2 for volume in Gunnison County for 2020.*
*Source: CREN December 31st, 2020
Current market conditions
As we head toward the end of summer, the Crested Butte Real Estate Market continues to boom. The momentum we saw throughout spring and into early summer continues to grow with prices increasing substantially while inventory continues to be our biggest challenge. Properties are going under contract as fast as they come on the market. Residential sales volume through July was $220,316,920, up $135,499,518 from last year along with amount of transactions (216 compared to 105). The average sales price, $1,019,985, is up 21% from $807,784 last year. Currently another 72 properties are under contract totaling $112,226,995, 41 of which are listed at $1mil or more including a rare offering in Prospect at Mt. Crested Butte listed by our office for $5,900,000.
For a comprehensive view of last month’s sales and current inventory, view our August 2021 Market Report.
If you’re looking to buy or sell in Crested Butte and the Gunnison Valley, please contact us. We are happy to provide information on the area, a list of properties that suit your criteria, and/or prepare a complimentary comparative market analysis to assess the value of your property.
710 Red Mountain Ranch Road
327 Elk Avenue, Unit 3
4 BR | 2 Bth | 1,583 Sq Ft
101 Alpine Court
3 BR | 3.5 Bth | 1,722 Sq Ft
In the News
WCU Developing A Free Tuition Program For Local High School Grads
Gunnison & Colorado River Basins Brace For Water Issues
Crested Butte Council Unanimously Approves STR Moratorium
Mt. Crested Butte Council Weighs Public Concerns Over STR Regs
Planning Commission Recommends New House Size Limit In 3-2 Vote
Council To Consider Ballot Issue For Empty House Fee
Sixth And Butte Housing Concept Starting To Take Shape For CB
We build our business on integrity and service. The highest compliment we can receive is the referral of friends, family and business associates. Thank you for your trust.
Kiley Flint | Broker Associate | Team Leader
Crested Butte Collection