Real Estate Market Update ~ January 2023

Current Market Conditions for January 2023

2022 has come to and end and the Crested Butte Collection team celebrated another great year in real estate! We closed 39 transactions and $37,425,500 in volume in 2022. Residential sales volume in the Gunnison Valley for the year totaled $406,315,218 which is down from $577,686,429 in 2021. The number of transactions were also down (452 compared to 649). The average sales price in the valley, $898,927, is up 1% from $890,117 in 2021. The average sales price in the north end of the valley is considerably higher at $1,193,315, 5% higher than 2021. Currently there are 39 properties under contract totaling $35,415,750; 9 of which are listed at $1mil or more including this luxury home on the golf course which I have listed for $4,3000,000. Of those 39 properties under contract, 22 are in the north end of the valley.  

December Sales

In December, we had 3 single family home sales and 8 condo/townhome sales in the upper valley. These 11 sales totaled $12,909,000 which was down $15,717,500 from November. Sales ranged from a studio unit in the Grand Lodge selling for $226,000 to a newly constructed home in Skyland selling for $2,370,000.

Land transactions in the north end of the valley were down 2 from the previous month with just 2 sales totaling $2,950,000 in volume. This represents an increase in volume of $1,645,000 from November.

Active Listings

Inventory is up slightly with 2 more listings this month.

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

Current Inventory

Leading the Market

*Source: CREN December 31st, 2022