Crested Butte Real Estate Market Report September 2022 + Outlook

Transactions & Volume Down – Price Points Up

Crested Butte Real Estate Market Report September 2022 + Outlook – Welcome back to your September Crested Butte Real Estate Market Report! Prices are up for the prior 12 months for all Sold properties – but looking at the prior few months we are seeing a plateau in both asking price points and sold price points – likely due to inflation, rising interest rates and stock market turbulence.

Total number of transactions for the prior 12 months was down 39% year over year at 439 vs. 719. Total Volume down 29% year over year at $454M vs. 637M. Inventory levels have held steady with 285 properties for Sale (68 Single Family Homes, 73 Condos & Townhomes, and 145 parcels of Land).

The Crested Butte Real Estate Market has seen some interesting trends over the past 12 months. There have been 439 total properties sold, 101 of those being single family homes sold. The average sold price for single family homes was $2,189,000.

Single Family Home Details:

• Downtown Crested Butte the number of Single Family homes sold was 15, at a median sold price of $3,100,000. The median sold price per square foot was $1,057, trending above asking price.
• Mt. Crested Butte was a median sold price of $1,869,500, and Sales Price Per Square foot was $653.
• Skyland show average Sales Price per Square foot at $695, with a median sold price of $2,350,000.
• Rural Crested Butte had 37 homes sold at median sold price of $2,400,000. Sales Price Per Square Foot was $753.
• CB South total homes sold so far this year have been 19, at the Average Sales Price per Square foot $570. Median sold price was $1,125,000, trending below asking price.
• Condos and Townhomes – There have been 214 transactions with Average Sold Price of $659,000 – there were 21 transactions in September with median sold of $711,500 and price per sq. ft. of $730.

What does this mean for buyers and sellers?

For sellers, if you are considering selling your home – this could be a great time to get ready prior to the winter ski season. I am happy to do some homework for you. Reach out to me and I will prepare a Property Valuation Report to help you understand the value of your home given the current market.

For buyers, I advise taking advantage of this pause in rising price points. Working with many buyers I find after reviewing their criteria and the market – there is not a lot of inventory in specific property types, price points and location. If you see the property that works for you – consider moving forward before another buyer does… Start creating your lifetime of memories here in Crested Butte. Contact me to discuss your criteria and timeframe… I can share a number of strategies to help you!

Thanks,
Chris Kopf

email: Chris.Kopf@CBMP.com
call or text me: (970) 209-5405