Micro Market Report

CRESTED BUTTE, COLORADO

Affectionately known as “Colorado’s last great ski town,” Crested Butte offers endless challenging in-bounds skiing and charming shops and restaurants along Elk Avenue. Originally a supply town to support coal and silver mines in the 1800s, the Crested Butte area saw the ride of the ranching industry in the 1900s, followed by the opening of the ski resort in 1962.

After record-breaking sales volume in 2020-2021, the market in Crested Butte and surrounding communities cooled slightly in 2022 with overall sales volume off 37% compared to the prior year. However, Gunnison County saw a 37% decrease in average days on market to 142, as buyers sought to make moves on properties more quickly in a competitive real estate climate.

Crested Butte South saw the largest jump in average sale price, up 60.9% compared with 2021. The average price per square foot in Crested Butte South notched up 42.5% as the area saw more demand. The highest priced property sold in the Town of Crested Butte was $11.5 million, up 44% from the previous year. The City of Gunnison, just 30 miles from Crested Butte, had an increase of 35% in the average sale price compared to 2021.

With its rugged landscape, independent spirit, and access to untamed wilderness, Crested Butte’s properties appeal to buyers looking for a small-town lifestyle and endless recreation.

Based on data from the Gunnison – Crested Butte Association of REALTORS® MLS, Colorado Real Estate Network (CREN). Verify with a local REALTOR®. All information is deemed reliable but not guaranteed. Data maintained by CREN MLS may not reflect all real estate activity in the market.