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Birdseye View | Crested Butte Market Snapshot | First Quarter 2022

We are off to a strong start in 2022 following a robust holiday season and spring break. Crested Butte is a very hot area for destination seekers and home buyers. Demand for real estate continues to absorb the supply, however properties have been entering the market at a steady pace. It is uncommon for a new listing to receive only one offer.

Sales have been cut in half in the region due to the record low shortage of available homes for sale. Our agents all have many buyers ready to pull the trigger when their property matches come on the market.

The average sales price is stretching beyond the $2 million mark and high-end sales constitute the largest growth sector. Last year there were 29 sales above $3 million compared to 12 the previous year. There were 36 condominium sales above the $1 million mark, double from the previous year. We had nearly three times the number of $1 million plus land sales last year compared to 10 the year before.

Bluebird recently recorded the highest ever single-family home sale in the Town of Crested Butte, a pre-owned home at $5.1 million and an off-market sale. Of the 14 home sales to date in the north valley this year, only two sold under $1 million.

There are 52 homes available presently in our entire MLS. The good news is that we anticipate inventory to loosen as we enter the summer market with an equalization occurring following the post-covid frenzy. We encourage sellers to “sell when they are ready to sell” and we will take care of the timing logistics. With rising interest rates and inflation, we may be seeing the peak for home prices.

Bluebird Real Estate, the leading independent real estate brokerage, is now serving the entire Gunnison Valley with two high profile locations in Crested Butte and Gunnison. We would love to share with you how we are “bringing dreams home.”

View the full report with graphs here.