Crested Butte & Gunnison Market Update Q4 2021
We’ve had a very exciting real estate market in Crested Butte and Gunnison, Colorado through 2021.
Here are a few noteables for the year.
2021 Notable Commercial Sales:
- The Almont Resort
- Sixth Street Station
- Numerous Restaurant and Bar Spaces on Elk Avenue in Crested Butte
- Numerous Land Properties
Two Commercial Investors (unrelated):
- Mark Walter, Billionaire Owner of LA Dodgers, CEO of Guggenheim Financial Services
- Jeff Hermanson, CEO of Larimer Square Associates, Developer of Larimer Square and Union Station in Denver, CO.
New Commercial Listing in Crested Butte (Highest Priced Listing in Gunnison County Currently)
Elk Mountain Lodge – Crested Butte 19 Room B&B Listed for Sale at $12,000,000
| 2020 YTD | 2021 YTD | %+- | |
| VELOCITY(Source – MLS) | |||
| Commercial Sales Volume | $4,282,500 | $52,444,660 | 1,120% |
| Commercial Transactions | 8 | 39 (Crested Butte – 24; Gunnison – 15) | 387% |
| 21 Active Commercial Listings | $49 million value – across Crested Butte & Gunnison | ||
| RESIDENTIAL REAL ESTATE | |||
| Residential Total Sales | $475,000,000 | $621,000,000 | 31% |
| Residential Average Price | $710,000 | $836,000 | 17.75% |
| Residential Days on Market | 205 | 132 | -35% |
| Residential New Listings | 669 | 774 | 15.7% |
| VACANCY RATE | 5.6% | 4.4% | -21% |
| CAP RATES – AVG | 4.0% | 4.0% | 0% |
