Crested Butte Micro Market Report – Mid-Year 2020

Crested Butte Real Estate micro market report Q2 2020

Crested Butte, Colorado, known for its stunning mountain vistas and skiing, is a wonderful place to live for those who want a serene escape from the ordinary. Although the COVID-19 pandemic impacted the performance of the real estate market so far in 2020, the neighborhoods within Gunnison County still managed to create positive growth.

LIV Sotheby’s International Realty produces a Micro Market Report focused on the Crested Butte real estate market and its performance through June of 2020 in comparison to the same time period in 2019. Even though real estate activity was halted in the spring, consumers have continued to show interest in the housing market in Gunnison County. The average sold price for all properties throughout the County increased slightly by 1.3%, growing from $492,664 to $498,951 in 2020.

Other neighborhoods also saw upward trends in average prices, such as Rural Crested Butte. Single family homes in Rural Crested Butte rose in average sold price by 25.3%, bringing the average home price to $1,561,527. Condominiums, townhomes, and duplexes in the Town of Crested Butte also experienced rising prices. Attached homes in this community increased in price by 81.8%, reaching an average sold price of $589,393.

The City of Gunnison saw a boost in the number of homes sold through June of this year. Single family home sales increased by 10.5%, growing from 19 homes sold between January and June of 2019 to 21 homes sold through June of 2020.

The average sold price for land parcels in the Almont and Rural Gunnison area rose as well. As of June, the average price for a parcel of land in this area was $225,582, an 88.7% increase from the same period of time in 2019 when the average price was $119,527.

This unique mountain community is a great place to buy and sell properties of all sorts. For consumers looking for something special, there is nowhere that can compare to Crested Butte.

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