Crested Butte Real Estate Market Trends
May 2026 Snapshot
New Residential Listings
72
▼ 31% YOY
New Land Listings
41
▼ 24% YOY
Months Supply of Inventory
9.1
▲ 18% YOY
Residential Real Estate
| Gunnison County | |||
| Metric | 2025 | 2026 | Change |
| Total Sales | 32 | 34 | ▲ 6.2% |
| Sales Volume | $29.5M | $35.2M | ▲ 19.4% |
| Avg Sale Price | $921,547 | $1,035,676 | ▲ 12.4% |
| Median Sale Price | $763,750 | $689,000 | ▼ 9.8% |
| Avg Sold Price/SF | $535 | $573 | ▲ 7.1% |
| Avg Days on Market | 149 | 159 | ▲ 6.7% |
| Upper Gunnison Valley | |||
| Metric | 2025 | 2026 | Change |
| Total Sales | 15 | 18 | ▲ 20.0% |
| Sales Volume | $17.9M | $25.4M | ▲ 42.2% |
| Avg Sale Price | $1,191,033 | $1,411,000 | ▲ 18.5% |
| Median Sale Price | $845,000 | $810,000 | ▼ 4.1% |
| Avg Sold Price/SF | $677 | $739 | ▲ 9.2% |
| Avg Days on Market | 167 | 215 | ▲ 28.6% |
Residential Real Estate Trends We’re Seeing
For Sellers:
The takeaway is nuanced. The Upper Valley is clearly where the action and bulk of volume are — 53% of all county sales and a 42% jump in volume is a strong signal. But the longer days on market tell you that pricing strategy and patience matter more than they did a year ago. Overpricing will cost you months, not weeks. The countywide median dropping to $689K isn’t a sign of declining values so much as a shift in the sales mix — more closings are happening at attainable price points in Gunnison, which pulls the median down even as Upper Valley properties trade at premium levels.
For Buyers:
The picture depends heavily on where and what you’re shopping for. If you’re looking in the under-$600K range in Gunnison, conditions are favorable — inventory is moving, competition seems manageable, and homes are closing in under 100 days. You have options and momentum on your side. Up in Crested Butte and Mt. Crested Butte, though, you have more leverage than you might expect. Homes are sitting longer (averaging 215 days), which means there’s potential to negotiate. That said, price per square foot is still climbing, so don’t mistake longer days on market for a soft market — many sellers in the Upper Valley are ok waiting for a full-price buyer as we head into the peak season.
Land Real Estate
| Gunnison County | |||
| Metric | 2025 | 2026 | Change |
| Total Sales | 12 | 8 | ▼ 33.3% |
| Sales Volume | $7.4M | $2.2M | ▼ 70.2% |
| Avg Sale Price | $618,917 | $277,063 | ▼ 55.2% |
| Median Sale Price | $425,000 | $205,000 | ▼ 51.8% |
| Avg Days on Market | 530 | 155 | ▼ 70.7% |
| Upper Gunnison Valley | |||
| Metric | 2025 | 2026 | Change |
| Total Sales | 6 | 3 | ▼ 50.0% |
| Sales Volume | $5.2M | $0.9M | ▼ 83.6% |
| Avg Sale Price | $870,833 | $285,000 | ▼ 67.3% |
| Median Sale Price | $1,000,000 | $220,000 | ▼ 78.0% |
| Avg Days on Market | 922 | 174 | ▼ 81.2% |
Land Real Estate Trends We’re Seeing
For Sellers:
Last month saw a significant pullback from last year, however, last May was inflated by three $1M+ lots that took years to sell. If you’re listing land above $500K in the Upper Valley, it’s important to be realistic about timeline and demand — this segment did not see much activity in May. If you’re selling a more modestly priced parcel, the market is absorbing those, and faster than it was a year ago. Pricing to the current demand is essential.
For Buyers:
If you’re looking for land under $450K, this is your market. That’s where nearly all the activity is happening, and those parcels are moving significantly faster than a year ago — 155 days on average versus 530. The high-end land market in Crested Butte is relatively quiet right now, which could mean opportunity if you’re willing to make an offer on a premium parcel that’s been sitting.