Expect Strong Summer Buyer Demand for Crested Butte Real Estate Market

Crested Butte Real Estate Market Report April 2022 + Outlook – The number one question I hear is “How is the Crested Butte Real Estate Market doing – and what can we expect this Summer?”

We continue to see strong Buyer demand and expectations are that this will continue through this Summer and Fall.  What is happening – real estate price points are still rising, and supply demand forces in play with low inventory levels.  We will see more properties coming on the market for the “summer buying season”.

We know that Crested Butte is a great place to visit, and there are many visitors in the summer. There is also a correlation between the number of visitors and the number of interested real estate buyers – and those who are ready to make a decision to start building their lifetime of dreams in the Crested Butte area.

Year over year Volume is up 6% (two months ago it was up 46%) finishing at $552M vs $519M in 2020. Total Transactions are down 11% at 563 Properties Sold vs 636 for the same 12-month period one year ago.

Check-out the updated “Market Snapshots” showing individual areas for a quick look at the patterns and trends!

Another question I get frequently: “Why have we seen an up-tick in real estate prices for Crested Butte Real Estate?” 

Answer: 1) Covid + remote work flexibility. 2) Vail Resorts International operating the ski resort + Epic Pass translates into strong buyer demand. 3) Supply and demand forces due to lack of inventory coming into play.

We are seeing high inflation and everything is more expensive including the cost of money – mortgage rates are approaching 6%. This could slow demand and price ascension, but I believe Seller’s Market will remain in play in 2022.

We continue to see strong demand because of an increased emphasis on the home – family, lifestyle, and life experiences. CB offers a safe home base and the mountain lifestyle. The summer/winter adventures are like getting a 2-for-1 home.

Winter Adventures include Alpine and Nordic Skiing, Snowshoeing, Fat Biking, Snow Mobiling, and Summer Adventures include Hiking/Biking, Golf, Fly Fishing, Paddling, Wildflowers, Gala Events… Many have considered or reconsidered the option to own a Crested Butte home.

Crested Butte has a unique “vibe”
for all demographic segments –
and this diversity is part of what makes
the Crested Butte Community special.

It is good to have choices – and a home in Crested Butte is a desirable choice for many who can work remotely, and who can afford the price of a home. The challenge for some is that price points have spiked in the past 2 years and very few quality single family homes are available below $2.5M. Price points for condos & townhomes are rising also, as is raw land and building costs.

Crested Butte real estate is still a great value compared to other ski resort markets. Contact me anytime with questions!

Prediction for now: Buyer demand will continue, and we will continue to see a Seller’s Market Summer and Fall of  2022.

I hope you enjoy the Crested Butte Real Estate Market Report April 2022 + Outlook!

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