Crested Butte Collection Newsletter
May 2022 Edition
May is here which means summer is just around the corner. Local businesses are enjoying the off-season slowdown after what was a very busy winter. Activities around town will start picking up toward the end of this month and we’ll soon be welcoming back our summer visitors. For a list of local restaurant off-season hours, visit our May Events page. The days continue to get warmer and longer making this a great time to get out the mountain bikes and hiking shoes. Trails are starting to dry out; especially in the lower end of the valley.
The overall residential real estate market remained strong throughout the first quarter of 2022. We closed out April with $82.9mil in sales volume year to date. This was however $36.8mil below the sales volume at this same time last year. Momentum is beginning to pick up as we head into Q2 with another $57.8mil currently under contract. The average sales price is up almost 5% to $975,592 from $928,752 and new inventory is starting to come on the market for the summer selling season.
Kiley & Erin
Leaders in Crested Butte Real Estate
Crested Butte Collection ranked #3 for quantity of transactions and #6 for volume in Gunnison County for 2021.*
*Source: CREN December 31st, 2021
Current market conditions
We saw a slight slow in momentum during the first quarter of 2022; mainly due to inventory challenges. The market however is beginning to pick up with an increase in new inventory coming on as we head into Q2. Residential sales volume through April was $82,925,350 down $36,883,438 from last year along with amount of transactions, (85 compared to 129). The average sales price, $975,592, is up almost 5% from $928,752 at this time last year. Currently another 48 properties are under contract totaling $57,808,000, 17 of which are listed at $1mil or more including a beautiful nine bedroom mountain retreat listed for $7,495,000.
For a comprehensive view of last month’s sales and current inventory, view our May 2022 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.
Off-season is in full swing however there are still some great local events taking place throughout the valley. Hartman’s Rocks is open for riding and hiking and the Crested Butte Farmers Market begins Memorial Day Weekend.
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