Real Estate Market Update ~ February 2023

Current Market Conditions for February 2023

The market continues to stabilize as we head into 2023. Residential sales volume through January totaled $8,778,050 which is down $11,712,550 from this time last year. Number of transactions were also down (7 compared to 20). The average sales price, $1,254,007, however is up over 18% from $1,024,530 last year. Currently there are 27 properties under contract totaling $30,230,000; 11 of which are listed at $1mil or more including this incredible 5 bedroom home in Mt. Crested Butte listed for $2,750,000.

January Sales

In January, we had 3 single family home sales and 4 condo/townhome sales in the upper valley. These 7 sales totaled $8,778,050 which was down $4,130,950 from December. Sales ranged from a two bedroom manufactured home in Almont selling for $95,000 to a luxury home on the golf course selling for $4,200,000 in which we had the pleasure of representing the Sellers.

Land transactions were up 1 from the previous month with 3 sales totaling $2,010,000 in volume. This represents a decrease in volume of $940,000 from December. Sales ranged from a 35.33 acre lot in Trappers Crossing at Wildcat for $400,000 to a Red Mountain Ranch parcel selling for $955,000.

SF = single family residence

Active Listings

Inventory is down slightly with 8 less listings this month.

CRESTED BUTTE SOUTH
1 homes (n/a*)
2 condos/town homes (-1*)

* Change from last month in parentheses

Current Inventory

Leading the Market

*Source: CREN December 31st, 2022