Real Estate Market Update ~ May 2023

Current Market Conditions for May 2023

Residential sales volume through April totaled $36,246,930 which is down $47,728,420 from this time last year. Number of transactions were also down (34 compared to 86). The average sales price, $1,066,086, however is up 8% from $976,457 last year. Currently there are 31 properties under contract totaling $39,017,577; 7 of which are listed at $1mil or more including this incredibly stunning mountain retreat listed by our office for $9,500,000.

April Sales

In April, we had 5 single family home sales and 6 condo/townhome sales in the upper valley. These 11 sales totaled $10,373,000 which is up $3,790,500 from March. Sales ranged from an iconic Town of Irwin Cabin selling for $330,000 to a lovely four bedroom home on the river in CB South selling for $1,690,000.

Land transactions were down 3 from the previous month with 4 sales totaling $1,740,500 in volume. This represents a decrease in volume of $1,957,000 from March. Sales ranged from a Gothic area mining claim selling for $27,000 to a parcel in the Crested Butte Meadows above CB South selling for $825,000.

SF = single family residence

Active Listings

Inventory is down slightly with 5 fewer listings this month.

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

* 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.

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.