2023 Year-End Market Update

2023 Year-End Review

Gunnison County

Residential sales volume stayed roughly consistent to the previous year at $410.9M (+1% YOY.), despite a decline of 11% in the total transactions (401 vs 452). This is due to a 14% increase in average residential sale price YOY.

Land volume sold county-wide fell 46% ($57.7M in 2023 vs $106.9M in 2022), as total transactions fell 33% (145 vs 215) and average sale price declined an impressive 20% from 2022.

The average sale price of land in Gunnison County was $398K at the end of 2023, and the year-end average residential sale price was $1.02M. A few notable sales this year included 14 Kokanee Lane, located in Prospect at Mt. CB, which sold for an impressive $10M. As for the highest land sale of the year, it was Site 5 Journey’s End Road, which sold for $2.695M.

Upper Gunnison Valley

The Upper Gunnison Valley experience a similar decrease in transactions YOY (-24% for residential and -35% for land) as well as sales volume (-8% for residential and -50% for land). The average sale price of land was also down 22% YOY in the north valley ($858K), but average residential sales price increased an incredible 20% from 2022, with a current average of $1,432,930. As of Jan 2nd, there are currently 13 properties under contract, totaling $19.6M.

Average Sale Price

December 2023 Recap

Gunnison County had 23 residential sales totaling $17.2M, which was a 10% increase in sales volume YOY for the month of December. There were also 12 land sales, totaling $4.3M, which was a 46% increase over 2022. The highest priced sale for the month was 700 Sierra Vista Way, located in Gunnison which sold for $1,880,000.

The Upper Gunnison Valley had 12 of the 23 residential sales, totaling $8.99M (43% decrease from 2022), 3 single family homes and 9 condos & townhomes. Of the 12 land sales, 3 were in the north valley, totaling $3.489M. The top dollar sale in December in the Upper Gunnison Valley was 30 Quigley Circle, located in Meridian Lake Park, which sold for $1,750,000.

*Upper Valley = Town of Crested Butte, Mt. Crested Butte, Kebler Pass, Rural Crested Butte, Crested Butte South

Active Listings

We have 10 more active residential listings than last month.*

CRESTED BUTTE SOUTH
3 Single Family Homes (+2)
6 Condos/Townhomes

*Change from previous month in parenthesis. Active listings as of 1/2/24.

Average Days on Market

All reported statistics were sourced from CREN MLS and not necessarily listed/sold by Crested Butte Collection. Commercial sales were excluded. Information is intended only to show real estate market trends in the area.