March 2025 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 March 2025 Market Update dives into February sales throughout Gunnison County and the Upper Gunnison Valley as we compare real estate sales year over year.

February 2025 Review

 Gunnison County

The real estate market remains strong as residential and land sales continue to rise year over year county wide. February brought a slight rise in home sales (19 vs 18 last year), but a significant boost in land sales. There were 11 total land sales last month versus 7 in February of 2024. With a 281% jump in average sale price, this increase generated a 498% increase in total volume sold ($9.2M in 2025 vs $1.5M in 2024).

We did see an increase in new listings compared to last year, with 39 new residential listings and 17 new land listings. Average days on market increased 53% for residential properties (179 vs 117 days), and 230% for land listings YOY. The highest sale in February was 81 Par Lane, a 4 bedroom, 3,925 SF residence in the Skyland subdivision, which sold for $4,350,000 or $1,108/SF. The highest land sale was 455 Phoenix Way, a 35 acre parcel located in Smith Hill Ranches, which sold for $2,000,000 or $56,931/AC.

Upper Gunnison Valley

The Upper Gunnison Valley market had 42% of the residential sales in Gunnison County and 70% of the total sales volume county-wide, while 64% of land sales and 89% of total land sale volume was north of Almont. As of March 4th, there are 63 properties under contract in the Upper Gunnison Valley, totaling over $65M in volume.

Active Listings

CRESTED BUTTE SOUTH
2 Single Family Homes
5 Condos/Townhomes (+4)

*Change from previous month in parenthesis. Active listings as of 3/4/25.

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.