Crested Butte | Quarter 2, 2021
Located in Gunnison County, Crested Butte is a vibrant resort town nestled in the Colorado Rockies at an altitude of nearly 9,000 feet. Locals and vacationers alike revel in Crested Butte’s impressive mountain peaks, ﬂowering ﬁ elds, and historical architecture. For people seeking an out-of-the-way sanctuary, this valley oﬀers a tight-knit community, top-tier amenities, unparalleled alpine beauty, and an abundance of activities for the outdoor enthusiast.
The rising popularity of this hidden gem has kept area real estate professionals busy for months. While Crested Butte is a little more oﬀ the beaten path, many buyers clearly appreciate that seclusion and tranquility. Plus, Gunnison County is home to the state’s largest body of water, Blue Mesa Reservoir, where people can enjoy activities like sailing and kayaking.
The Micro Market Report produced by LIV Sotheby’s International Realty analyzes the real estate market for the ﬁ rst half of 2021 compared to the the ﬁ rst half of 2020. The total number of sold listings in Gunnison County rose 160.1% in that time frame, with the average sales price increasing 39.4%, from $498,951 to $695,682.
Heading into the peak summer selling months, real estate in Crested Butte continues to soar even as inventory remains low. That, coupled with increased demand for properties in small towns away from congested cities, is helping drive the current boom, especially in the Town of Crested Butte, Mt. Crested Butte, and Rural Crested Butte.
Boasting a 300% increase compared to the ﬁ rst half of 2020, buyers in the ﬁ rst half of 2021 purchased more single family homes in Crested Butte South than in any other neighborhood. Condos and townhomes were the hot tickets in Rural Crested Butte, which saw a 425% increase in sales. Buyers seeking land, however, purchased a total of 40 lots in Mt. Crested Butte, creating a whopping 1,900% increase in land sales over the same time period in 2020. Whatever the property type, Gunnison County appears to have something for everyone.