Real Estate Market Update ~ March 2022

Current Market Conditions for March 2022

The lack of inventory is really taking its toll on the market the first quarter of 2022. Residential sales volume through February totaled $36,450,350 which is down $17,563,650 from this time last year. Number of transactions were also down (40 compared to 60). The average sales price, $911,258, however is up 1.2% from $900,233 last year. Currently there are 44 properties under contract totaling $49,286,500; 14 of which are listed at $1mil or more including this five bedroom Elk Avenue home listed for $5,100,000.

February Sales

In February, we had 6 single family home sales and 14 condo/townhome sales in the upper valley. These 20 sales totaled $15,959,750 which was down $1,190,850 from January. Sales ranged from a Grand Lodge studio unit selling for $170,000 to the sale of a five bedroom home on Slate River just south of Crested Butte selling for $2,550,000.

Land transactions were up 1 from the previous month with 11 sales totaling an incredible $19,848,500 in volume. This represents an increase in volume of $13,685,500 from January. Sales ranged from an Irwin parcel selling for $75,000 to a residential parcel in the Town of Crested Butte selling for $11,550,000.

SF = single family residence

Active Listings

Inventory is up slightly with 5 more listings this month.

CRESTED BUTTE SOUTH
1 homes (+1*)
1 condos/town homes (+1*)

* Change from last month in parentheses

Current Inventory

Leading the Market

*Source: CREN December 31st, 2021