Crested Butte | 2020
Enjoy a change of pace and some of Colorado’s most breathtaking scenery in Crested Butte. This community, which includes one of Colorado’s largest National Historic Districts, is known for its world-class skiing with lighter crowds in the winter and its mountain biking, hiking, fishing, and other outdoor adventures during the summer. The community’s relaxed lifestyle and location make it the perfect place to plant roots or invest in a vacation home. Over the course of 2020, Crested Butte experienced elevated levels of real estate activity in response to homebuyers’ desire for homes that will meet their needs for additional space and enhance their overall lifestyle.
LIV Sotheby’s International Realty produces a Micro Market Report focused on the Crested Butte real estate market and its performance during 2020 in comparison to 2019. Total dollar volume sold for all of Gunnison County grew by an impressive 36.3% in 2020, totaling $545,831,999. The average price per property in Gunnison County also increased from the previous year. Properties listed saw a 9.3% price increase last year, bringing the average price for listings in the area to $574,559.
With consumers’ cravings for homes in resort communities fueling the boom in real estate activity, many neighborhoods within Gunnison County saw rises in the number of properties sold in 2020. The most dramatic increase in listings sold was seen in Rural Crested Butte, where the total listings sold for all property types reached 178, climbing 102.3% from 2019 when 88 properties sold. The single family home market also saw a 129.6% increase in listings sold in addition to the condominium and townhome market which experienced an astonishing 175.0% increase in listings sold.
Other notable increases include the 78.6% increase in listings sold for all property types in the Town of Crested Butte, where there was a 95.2% rise in single family home sales and the 44.4% increase in listings sold in Mt. Crested Butte which had a 46.5% increase in condominium and townhome sales.
Some neighborhoods within Gunnison County saw increases in average prices for various sectors of the real estate market. For example, all property types in Mt. Crested Butte South rose in price by 6.4% which brought the average price to $651,610 in 2020. Additionally, all property types within Rural Gunnison and Almont saw a 16.9% increase in value which raised the average price to $443,298.
Not only did residential real estate activity surge in this iconic ski town, but land sales saw significant increases in sales as well. Land parcels in the Town of Crested Butte experienced a remarkable 183.3% increase in the number of properties sold during 2020, compared to 2019. The average price per acre for land parcels in the area increased by 9%, making the average price for land parcels $1,221,735.
This beautiful mountain community, that embraces its rich history, has been a high-demand location for homebuyers and sellers in 2020. As consumers continue to prioritize lifestyle, this Colorado community’s housing market will remain a premier destination for real estate.
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.