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Crested Butte Year-End Market Report

Photo Courtesy of CBMR

Crested Butte and Mt. Crested Butte Year-End Market Report

2023 was an interesting year in real estate. Nationally, many areas experienced a decrease in sales, yet in Crested Butte, single-family homes had a 5% increase in sold listings and a 7% increase in sales volume. Condos and townhomes had an 11% increase in average sales price, yet the number of sold listings and total volume were down. We saw a softening in land sales, which wasn’t surprising. With the cost to build at an all-time high, many buyers have switched to purchasing a pre-existing home instead. Inventory has shifted from a five-month supply in 2022 to a seven-month supply in 2023.

An interesting note….we had twice as many cash sales as loan sales ($128M vs. $63M). This indicates that interest rates don’t affect us as much as other areas.

For those planning to sell their Crested Butte home, feel free to reach out to us for a free valuation.

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