Real Estate Market Update ~ March 2023

Current Market Conditions for March 2023

We’re over halfway through the first quarter of 2023 and the local real estate market continues to remain stable. Residential sales volume through February totaled $19,291,430 which is down $17,158,920 from this time last year. Number of transactions were also down (16 compared to 40). The average sales price, $1,205,714, however is up over 24% from $911,500 last year. Currently there are 24 properties under contract totaling $30,785,500; 7 of which are listed at $1mil or more including this incredible 118 acre ranch and home listed by our office for $9,500,000.

February Sales

In February, we had 5 single family home sales and 4 condo/townhome sales in the upper valley. These 9 sales totaled $10,513,380 which is up $1,735,330 from January. Sales ranged from a base area Grand Lodge condo selling for $236,380 to a lovely two bedroom home on one of the most desirable streets in the town of Crested Butte selling for $1,800,000 in which we had the pleasure of representing the Seller.

Land transactions were up 1 from the previous month with 4 sales totaling $2,245,000 in volume. This represents a increase in volume of $235,000 from January. Sales ranged from a Crested Butte South lot for $395,000 to a Red Mountain Ranch parcel selling for $925,000.

SF = single family residence

Active Listings

Inventory is up slightly with 9 more listings this month.

CRESTED BUTTE SOUTH
3 homes (+2*)
1 condos/town homes (-1*)

Current Inventory

Leading the Market

*Source: CREN December 31st, 2022

All reported statistics were not necessarily listed/sold by Crested Butte Collection. Information is intended only to show real estate market trends in the area.