Real Estate Market Update ~ October 2022

Current Market Conditions for October 2022

Residential sales volume through September totaled $228,024,112 which is down $108,338,188 from this time last year. Number of transactions were also down (201 compared to 295). The average sales price, $1,134,448, is also down ever so slightly (less than 1%) from $1,140,211 at this time last year. Currently there are 66 properties under contract totaling $90,523,500; 30 of which are listed at $1mil or more including this beautiful home in the Town of Crested Butte listed by our office for $5,650,000.

September Sales

In September, we had 6 single family home sales and 21 condo/townhome sales in the upper valley. These 27 sales totaled $27,622,162 which was down $8,337,838 from August. Sales ranged from a studio Grand Lodge unit selling for $172,500 to a gorgeous five bedroom home in Mt. Crested Butte selling for $3,500,000.

Land transactions were up 10 from the previous month with 16 sales totaling $11,459,000 in volume. This represents an increase in volume of $7,635,000 from August. Sales ranged from an Irwin lot selling for $19,000 to a Town of Crested Butte parcel selling for $3,800,000.

SF = single family residence

Active Listings

Inventory is down with 24 less listings this month.

CRESTED BUTTE SOUTH
2 homes (-2*)
2 condos/town homes (n/a*)

* Change from last month in parentheses

Current Inventory

Leading the Market

*Source: CREN December 31st, 2021