May 2015 Market News

Market Update

May 2015 Market News

The first five months of 2015 the Crested Butte real estate market have come to a close with a satisfactory increase over 2014 of 8%. 82 condo and home sales totaling at $40,657,161 have closed so far with an average of 7% off of asking price. Average price of $495,819 and median price of $375,000 compared to those of $435,695 and $315,000 from the same period last year. Slow steady increases in volume, median and average prices are definite indicators of a healthy real estate market. Another 30 properties totaling $21,808,799 are under contract seven of which are over $1mil with the most expensive offered at $2,995,000.

Land sales continue to improve as 45 parcels totaling $9,660,500 have sold so far in 2015. That represents a 77% increase over the same period last year. 16 additional parcels totaling $2,558,500 are currently under contract. Sales average price of $214,677 and median price of $90,000 compared to those of $128,500 and $75,000 from the same period last year. Again reasonable gains in median and average prices are demonstrating a recovering land market. Call me for more detailed information on the entire Gunnison County real estate market.