Birdseye View | Crested Butte Market Snapshot | First Quarter 2022

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bringing dreams home


Welcome to Bluebird Real Estate, a premium home buying and selling experience in the Crested Butte area and Gunnison Valley of Colorado.

Exceptional Marketing Bluebird is an independent, local brokerage that represents the best homes in the marketplace with the finest print and digital collateral available locally and worldwide.

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Bluebird is the exclusive regional member of Luxury Portfolio International, the leading luxury network selling the highest volume of distinctive properties in the world. The largest global consortium of independent brokers, Leading Real Estate Companies of the World manages relocation services for Bluebird and over 550 brokerages in 70 countries.


303 Forest Lane | Offered for $9,999,700

birdseye view: market snapshot, first quarter 2022 We are off to a strong start in 2022 following a robust holiday season and spring break. Crested Butte is a very hot area for destination seekers and home buyers. Demand for real estate continues to absorb the supply, however properties have been entering the market at a steady pace. It is uncommon for a new listing to receive only one offer. Sales have been cut in half in the region due to the record low shortage of available homes for sale. Our agents all have many buyers ready to pull the trigger when their property matches come on the market. The average sales price is stretching beyond the $2 million mark and highend sales constitute the largest growth sector. Last year there were 29 sales above $3 million compared to 12 the previous year. There were 36 condominium sales above the $1 million mark, double from the previous year. We had nearly three times the number of $1 million plus land sales last year compared to 10 the year before.

Crested Butte 970.349.6691 Gunnison 970.641.6691 bbre1.com

Bluebird recently recorded the highest ever single-family home sale in the Town of Crested Butte, a pre-owned home at $5.1 million and an offmarket sale. Of the 14 home sales to date in the north valley this year, only two sold under $1 million. There are 52 homes available presently in our entire MLS. The good news is that we anticipate inventory to loosen as we enter the summer market with an equalization occurring following the post-covid frenzy. We encourage sellers to “sell when they are ready to sell” and we will take care of the timing logistics. With rising interest rates and inflation, we may be seeing the peak for home prices. Bluebird Real Estate, the leading independent real estate brokerage, is now serving the entire Gunnison Valley with two high profile locations in Crested Butte and Gunnison. We would love to share with you how we are “bringing dreams home.”


crested butte area property sales statistics 2016

2017

2018

2019

YTD 3/21

2021

YTD 3/22

Crested Butte Sales - Single Family Average Price Percent Change Price/ Square Foot Days on Market Active Listings Months of Inventory

2020

27 1,157,515 44% 546 175 15 6

23 1,363,624 18% 560 247 18 9

22 1,302,877 -5% 588 217 20 11

21 1,734,224 33% 725 154 22 13

41 1,609,646 -7% 752 175 7 2

7 1,583,428 -13% 769 179 5 2

30 2,318,500 44% 993 128 11 4

3 2,626,666 66% 1,128 118 14 14

Mount Crested Butte Sales - Single Family Average Price Percent Change Price/ Square Foot Days on Market Active Listings Months of Inventory

22 1,149,801 19% 373 332 35 16

29 1,028,800 -11% 331 243 27 11

30 1,018,750 -1% 363 252 25 10

24 1,102,063 8% 413 189 22 11

33 1,409,539 28% 459 225 18 7

10 1,522,900 64% 475 133 7 2

41 2,121,756 51% 583 126 9 3

4 2,647,650 74% 723 134 3 2

Mount CB Condo/TH Sales - Condo/TH Average Price Percent Change Price/ Square Foot Days on Market Active Listings Months of Inventory

148 264,769 -1% 264 246 66 5

137 362,701 37% 311 161 49 4

122 397,107 10% 366 147 61 6

86 479,264 21% 419 141 63 9

126 493,004 3% 441 168 54 5

47 574,977 41% 531 178 38 2

162 543,294 10% 538 155 11 1

36 612,062 6% 611 104 17 1

Crested Butte Rural Sales - Single Family Average Price Percent Change Price/ Square Foot Days on Market Active Listings Months of Inventory

29 1,434,216 9% 439 275 44 17

38 1,496,539 4% 451 211 41 13

30 1,309,300 -13% 389 208 58 23

27 1,698,093 30% 511 246 53 24

62 1,834,501 8% 483 252 17 3

13 1,724,615 -21% 586 164 12 3

53 2,173,177 19% 703 152 7 2

4 1,733,875 .5% 747 130 6 5

CB South Sales - Single Family Average Price Percent Change Price/ Square Foot Days on Market Active Listings Months of Inventory

12 584,708 21% 251 119 4 2

18 632,445 8% 275 192 7 5

20 676,657 7% 287 144 6 4

15 726,133 7% 302 140 6 5

18 794,338 9% 311 169 0 0

4 882,500 18% 333 58 1 1

26 1,035,864 30% 447 78 0 0

3 1,190,833 35% 578 78 0 0

Land - All CB Sales - Land Average Price Percent Change Days on Market Active Listings Months of Inventory

83 226,878 14% 319 244 35

117 273,255 20% 305 242 25

146 278,621 2% 292 211 17

89 390,023 40% 230 248 33

131 431,745 11% 349 151 14

67 528,582 133% 907 141 6

248 526,759 22% 447 66 3

31 1,047,870 98% 457 58 6

*CREN, MLS Data, April 2022


bluebird associates and staff Bluebird Real Estate is a dynamic team of dedicated professionals who are driven by exceptional marketing and successful results for our clients. We are strategically located in downtown Crested Butte and Gunnison in modern buildings with superior street visibility and traffic.

Picture from L to R: Natalie Hatchett, Lisa Lenander, Joe Summerville, Jennie Barry, Bet Egelhoff, Dan Estey, Mary Hakala, Dalynn Trujillo, Alex Owen, Patti Hensley, Bud Bush, Jordi Sendra, Joel Vosburg, Charlie Farnan, Maggie Dethloff, Trevor Bona, Karen Allen, Diane Aronovic, Jana Barrett, Jenny Knox, Jenna May Not pictured: Cynthia Wolff, Ross Tunkey, Steve Mills, Brian Cooper, Bobby Overturf

Bluebird’s award winning website, bbre1.com, attracts discerning buyers and sellers regionally and from around the globe. Recently the website was recognized for Best Visual Design, an international honor from our member company, Leading Real Estate Companies of the World.


Sales Volume ($M)

30

250

25

200

20

150

15

100

10

50

5

Associates

300

2017

2018

2019

Sales Volume

Crested Butte 970.349.6691 Gunnison 970.641.6691 bbre1.com

2020

Associates

2021