The Crested Butte Real Estate Market had another solid 3rd quarter. The Number of Sales for single-family homes and condo/townhomes is down due to low inventory, but the Average Sales Price is up 53% and 42%. Land is leading the charge and is up in all categories with a 100% increase in sold volume. With low inventory and higher home prices, buyers see the value in building instead of buying a preexisting home. Many wonder, will prices drop and/or level off. I believe Crested Butte has been found. The last few years have been exceptionally busy, and as more people come to our valley, the demand for homes will continue to be strong. This rate of growth will likely not continue at the pace it has, yet I also don’t see Crested Butte having the significant downturns it has had in the past.
If you are curious about your home value, please reach out for a free home valuation. For those looking to buy, it’s not too late – 10 years from now, you will be happy you got in the market when you did!
The Howe Group would love to share their knowledge of the real estate market with you. Please contact us at any time to learn more about our market. If you would like to see the latest inventory, please visit our website.