Real Estate Market Update ~ December 2022

Current Market Conditions for December 2022

Residential sales volume through November totaled $301,365,594 which is down $115,868,906 from this time last year. Number of transactions were also down (253 compared to 371). The average sales price, $1,191,168, however is up slightly, almost 3% from $1,124,621 last year. Currently there are 23 properties under contract totaling $28,307,500; 8 of which are listed at $1mil or more including this beautiful mountain home on acreage listed for $5,350,000.

November Sales

In November, we had 7 single family home sales and 14 condo/townhome sales in the upper valley. These 21 sales totaled $28,626,500 which is down $15,518,482 from October. Sales ranged from a studio unit in the Grand Lodge complex in the base area selling for $218,000 to a lovely four bedroom home in Red Mountain Ranch selling for $4,150,000 in which was listed by our office.

Land transactions were the same as the previous month with 4 sales totaling $1,305,000 in volume. This represents a slight decrease in volume of $85,0000 from October. Sales ranged from a Crested Butte South lot on Zeligman Street selling for $205,000 to a great parcel in Buckhorn selling for $450,000.

SF = single family residence

Active Listings

Inventory is up considerably with 19 more listings this month.

CRESTED BUTTE SOUTH
3 homes (+2*)
2 condos/town homes (+1*)

* Change from last month in parentheses

Current Inventory

Leading the Market

*Source: CREN December 31st, 2021