Real Estate Market Update ~ April 2023

Current Market Conditions for April 2023

The first quarter of 2023 has flown by! The market has continued to normalize and remained steady throughout the busy ski season. Residential sales volume through March totaled $25,873,930 which is down $29,756,420 from this time last year. Number of transactions were also down (23 compared to 58). The average sales price, $1,124,953, however is up almost 15% from $961,316 last year. Currently there are 35 properties under contract totaling $45,378,400; 9 of which are listed at $1mil or more including this incredibly stunning mountain retreat listed by our office for $9,500,000.

March Sales

In March, we had 2 single family home sales and 5 condo/townhome sales in the upper valley. These 7 sales totaled $6,582,500 which was down $3,930,880 from February. Sales ranged from a base area Grand Lodge unit selling for $225,000 to a charming 2 bedroom home in the town of Crested Butte selling for $1,695,000 in which was listed by our office.

Land transactions were down 6 from the previous month with 7 sales totaling $3,697,500 in volume. This represents an increase in volume of $1,452,500 from February. Sales ranged from a Vantuyl Village lot in Gunnison selling for $120,000 to a Prospect parcel selling for $1,250,000.

SF = single family residence

Active Listings

Inventory is down slightly with 7 fewer listings this month.

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

* Change from last month in parentheses

Current Inventory

Leading the Market

*Source: CREN December 31st, 2022

All reported statistics were not necessarily listed/sold by Crested Butte Collection. Information is intended only to show real estate market trends in the area.