Crested Butte – Mid-Year 2019
The Crested Butte market is located within Gunnison County, the fifth-largest county by area in Colorado with the largest body of water in the state – the Blue Mesa Reservoir. Comprised of 78% public lands and largely surrounded by several Wildnerness areas, Gunnison County is truly a mecca for adventurous types. Whether you’re extreme skiing or mountain biking on one of the world-class trails on Mt. Crested Butte, or enjoying premier fishing on the Gunnison River down valley, there is year-round enjoyment for everyone.
LIV Sotheby’s International Realty produces a Micro Market Report focused on the Crested Butte market. As a whole, we saw an increase in average price by an impressive 25% for January through June 2019 compared to 2018, increasing the average price for this year to $492,675 throughout Gunnison County. In addition, total dollar volume sold also increased by 12% compared to January through June of 2018.
Market highlights include an incredible 231% increase in average price for all properties in Mt. Crested Butte, bringing the average price to $639,110 in 2019. This dramatic increase was due to a significant $5,300,000 land sale that occurred this year. Condos, townhomes and duplexes for Mt. Crested Butte also reported an increase in average price by 65%.
Crested Butte South also showed a strong increase in single family homes sold in January through June 2019, with a 54% increase over 2018. The Town of Crested Butte, a sought-after location with access to world-class trails, fantastic dining, and a noteworthy art scene, witnessed an increase in average price for single family homes for 2019 by an astonishing 84%, due in part to a record sale of $3,850,000.
Known as “The Last Great Ski Town” and “The Wildflower Capital of Colorado,” Crested Butte draws buyers who are looking for a true mountain lifestyle, without the unwanted distractions of larger resort areas. Many second-home owners within Gunnison County come from the Front Range and southern states because of the abundant adventures, natural beauty, and peaceful ease of life.
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, Almont, and City of Gunnison.