Crested Butte Collection Newsletter
2023 Year-End Edition
As we reflect on 2023, the Crested Butte Collection team is beyond grateful. Real estate is often unpredictable and at times challenging, but each transaction is a learning opportunity. Over the past year, we’ve had the opportunity to help first-time homebuyers, some of our first ever clients, and clients that left the valley years ago and just needed to return. We don’t take any opportunity for granted and we thank you for such a great year!
2023 began with some challenges like high interest rates, inflation concerns, and low inventory, but the market improved throughout the year, and December sales improved YOY throughout Gunnison County with a 10% increase in residential sales volume and a 46% increase in land sales volume.
Mortgage rates peaked in October at 7.79% but dropped to 6.67% as of December 21 and have held thus far, and projections for 2024 are optimistic that there will be a further decline in rates as inflation improves.
Nationally, home prices continue to rise and we’re seeing the same trend for residential properties throughout Gunnison County, however, average land sales price declined 20% in 2023.
We are seeing inventory growth and buyer interest has remained strong throughout the year, despite lending challenges, as Crested Butte is a highly sought after market.
We love following the ebb and flow of the real estate trends in our valley. If you’re interested in discussing your real estate goals and how we can help, give us a call!
Appreciatively,
Kiley | Kourtney
Email 970.596.3219
Leaders in Crested Butte Real Estate
Ranked #3
Upper Gunnison Valley
Transactions Closed
Ranked #4
Upper Gunnison Valley
Total Sales Volume
Ranked #3
Gunnison County
Residential Sales Volume
Ranked #4
Gunnison County
Total Sales Volume
Source: CREN, January – December 2023
Current Market Conditions
Gunnison County residential sales volume stayed roughly consistent to the previous year at $410.9M (+1% YOY.), but land sales volume county-wide fell 46% ($57.7M in 2023 vs $106.9M in 2022). The average sale price of land for Gunnison County was $398K at year-end, down 20% from 2022. In contrast, we saw a 14% increase in the average residential sale price, with an average of $1.02M.
In the Upper Gunnison Valley, the average sale price of land was also down 22% YOY ($858K), but average residential sales price increased an incredible 20% from 2022, with a year-end average of $1.43M.
For a comprehensive view of last month’s sales and current inventory, view our 2023 Year-End Market Report.
Active Listings
Local Expertise
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
Featured Listings
Ski-In / Ski-Out Mountain Chalet
56 Summit Road, Mt. CB
3 Bed + Loft | 3.5 Bed | 3,476 SF
$5,325,000
New Construction on 12th Fairway
67 Wapiti Way, Crested Butte
5 Bed | 5.5 Bath | 4,967 SF
$4,950,000
Versatile Pitchfork Townhome
114 Big Sky Drive, Unit A, Mt. CB
3 Bed | 3 Bath | 1,401 SF
$850,000
Turnkey Base Area Condo
Plaza at Wood Creek, Unit 236, Mt. CB
2 Bed | 2 Bath | 1,049 SF
$799,000
Expansive Lot Between CB and Mt. CB
TBD County Road 317, Crested Butte
2.04 Acres
$599,000
Waterfront Buckhorn Ranch Lot
189 Lake Ridge Drive, Crested Butte
0.48 Acres
$450,000
Your Guide to Crested Butte
We build our business on integrity and service. The highest compliment we can receive is the referral of friends, family, and business associates. Thank you for your trust.
Kiley Flint
Broker Associate | Team Leader
Crested Butte Collection
LIV Sotheby’s International Realty
401 Elk Avenue | PO Box 210
Crested Butte, CO 81224
c 970-596-3219
kiley@crestedbuttecollection.com
