2024 Year-End Market Update

The Crested Butte Collection Market Update is your source for the latest real estate trends throughout Crested Butte and the Gunnison Valley. Our 2024 Year-End Market Update dives into real estate sales throughout Gunnison County and the Upper Gunnison Valley as we compare real estate sales throughout December and the past year.

2024 Year-End Review

A Year of Equalizing

2024 was a year of equalizing within the Gunnison County real estate market. Over the past year, we saw sales trending more similarly to pre-pandemic years, with a more subtle ebb and flow of transactions throughout the year, instead of the drastic spikes and valleys we experienced during Covid.

A few Positive Trends This Year

Buyers exhibited patience above all else yet average days on market for residential listings remained shorter than in 2023 for the majority of the year. Although average sale price over the course of the year increased YOY, we saw a decrease in average sale price of residential properties in the Upper Gunnison Valley in 7 out of the past 12 months.

With inventory continuing to decline year over year, we anticipate 2025 to be a year of opportunity for sellers! If you’re considering selling this year, give us a call to discuss how best to take advantage of the current market conditions!

Residential Sales | Gunnison County

2019 – 2024

Year Over Year Comparison | Gunnison County

2023 vs. 2024

Average Residential Sale Price | Upper Gunnison Valley

2023 vs. 2024

Average Days on Market | Upper Gunnison Valley

2023 vs. 2024

December 2024 Review

Gunnison County

Residential sales increased in Gunnison County year over year, with 30% more sales and a 144% increase in sales volume. The average and median sale price also increased for residential properties compared to December of 2023. Land sales decreased YOY with 55% less transactions and a 57% decrease in sales volume throughout the County.

The highest sale in December was 662 County Club Drive, a 5 bedroom new construction located in Skyland, which sold for $8,150,000 or $11,370/SF. The highest land sale was 777 Skyland Drive, a 0.68 acre lot located in Skyland, which sold for $599,000 or $880,882/AC.

Upper Gunnison Valley

The Upper Gunnison Valley market had 73% of the residential sales in Gunnison County and 86% of the total sales volume county-wide, while 40% of land sales and 48% of total land sales volume was north of Almont. As of January 3rd, there are 61 properties under contract in the Upper Gunnison Valley, totaling over $85M in volume.

Active Listings

CRESTED BUTTE SOUTH
0 Single Family Homes
4 Condos/Townhomes

*Change from previous month in parenthesis. Active listings as of 1/3/25.

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.