Crested Butte | Q3 2020
As one of Colorado’s largest National Historic Districts, Crested Butte, which lives within Gunnison County, has as much character and charm as it does stunning scenery. Set against a backdrop of the Elk Mountains, this community enjoys mild summers spent hiking, fishing, golfing, and mountain biking, and winters spent skiing on fresh snowfall. Thanks to its unmatched access to the outdoors, Crested Butte has become an increasingly popular destination for people to plant their roots or invest in a second home.
LIV Sotheby’s International Realty produces a Micro Market Report focused on the Crested Butte real estate market and its performance through Q3 of 2020 in comparison to the same time period in 2019. Total dollar volume sold for all of Gunnison County grew by a notable 17.4% through Q3 of this year, totaling $291,200,260. The average price for homes in this community also increased from last year. Homes listed in Gunnison County saw a 4.6% increase in price through Q3 of this year, making the average price $514,826.
The number of properties sold rose in several communities within Crested Butte so far this year. One of the most impressive increases in sold listings was seen in rural Crested Butte’s condominium and townhome market. Condominium and townhome sales in the area grew by 90%, from 10 homes sales last year to 19 homes sales thus far in 2020. The Town of Crested Butte also experienced an increase in property sales, growing 30.3%, from 33 properties sold through Q3 of 2019 to 43 properties sold during the same time period this year.
Some neighborhoods within Gunnison County saw increases in average pricing for various sectors of the real estate market. For example, all property types in Crested Butte South rose in price by 10.8% which brought the average price to $420,842. Single family homes in Mt. Crested Butte increased in price by 8%, bringing the average price to $1,144,668. In the City of Gunnison, condominiums and townhomes saw a price increase of 16.2%, making the average price $282,241.
Land parcels in Gunnison County experienced a 6.5% increase in the number of properties sold through September of this year, compared to the same time frame in 2019. The average price per acre for land parcels in the area decreased by 43.9%, making the average price per acre $6,789. Buyers who are interested in owning a piece of this gorgeous community may have an opportunity to invest this year.
Crested Butte’s real estate market is continuing to produce positive real estate opportunities as the year progresses. With options to buy and sell homes, as well as land parcels, there are endless possibilities in the Crested Butte real estate market for consumers to reach their lifestyle and real estate goals.
This Colorado Micro Market Report includes real estate data statistics for the following neighborhoods (single family, unless otherwise indicated): Town of Crested Butte, Mt. Crested Butte, Crested Butte South, Rural Crested Butte, City of Gunnison, Rural Gunnison and Almont.