Real Estate Market Update ~ May 2022

Current Market Conditions for May 2022

Residential sales volume through April totaled $82,925,350 which is down $36,883,438 from this time last year. Number of transactions were also down (85 compared to 129). The average sales price, $975,592, however is up almost 5% from $928,752 last year. Currently there are 48 properties under contract totaling $57,808,000; 17 of which are listed at $1mil or more including this beautiful mountain retreat listed for $7,495,000.

Crested Butte and the Gunnison Valley offer plenty of opportunity for both buyers and sellers to make successful moves in the housing market. Whether you’re interested in buying or selling a home, understanding the current market condition and working with an expert broker are crucial components that can help guide your decisions and real estate strategy. See how Colorado markets performed in Q1 of 2022: Colorado Real Estate Micro Market Reports Quarter 1, 2022.

April Sales

In April, we had 7 single family home sales and 20 condo/townhome sales in the upper valley. These 27 sales totaled $27,169,000 which is up $9,920,000 from March. Sales ranged from a base area Grand Lodge condo unit, in which we represented the Buyers, selling for $179,500 to a lovely five bedroom home which was listed FSBO in the town of Crested Butte selling for $4,300,000.

Land transactions were down 2 from the previous month with 10 sales totaling $9,834,000 in volume. This however represents an increase in volume of $3,085,500 from March. Sales ranged from a Crested Butte South lot for $295,000 to an Aperture lot selling for $1,900,000.

SF = single family residence

Active Listings

Inventory is up slightly with 4 more listings this month.

CRESTED BUTTE SOUTH
0 homes (n/a*)
0 condos/town homes (n/a*)

* Change from last month in parentheses

Current Inventory

Leading the Market

*Source: CREN December 31st, 2021