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February 2021 Edition

Nikki Crested Butte CO logo

February 3, 2021 by nikki pulitzer

Nikki Pulitzer

Since January 1, 2020 over 160 single family homes have sold from Mt. Crested Butte all the way to Crested Butte South totaling $255,548,025. We normally would have done almost exactly half in homes sales. With so much interest and so little inventory, it’s an ideal time to consider selling your home. Homes that might typically sit on the market for 3-6 months or longer are now often going under contract in a week or two. I am specifically seeking off-market properties to share with out of town clients that would like to move here immediately.

Most buyers are looking for a finished product, not to renovate. Buyers want something that’s done and move-in ready. A little cosmetic work, a bucket of white paint and sprucing up the yard might be something a relocating client is willing to do – but not a major overhaul. The other important trend is that people moving here full time want a single family home first and foremost because they want more space. Especially people with children.

Certain neighborhoods are also in more demand than others. It depends on the price point. The town of Crested Butte is on fire. You really can’t find a house under $2m anymore. If you do, my advice is to snatch it up for investment purposes. Neighborhoods like Skyland and Meridian Lake have been sought after by buyers looking for affordable homes with large lots and good square footage. I am also a bit bullish on the quiet neighborhood of CB South, which is suitable for those who are looking for that same thing, but at a more modest price point. Crested Butte South offers the most bang for your buck and is great for equity building.

Crested Butte and Gunnison Valley real estate continue to trend upwards, which doesn’t seem to be slowing any time soon, and the low inventory is only going to exacerbate the market. I don’t see areas like Crested Butte, Mt. Crested Butte and other higher markets (over $1m) taking any sort of depreciation in the near future. I believe we will be one of those rare pockets in America that keeps going up and up in value.

While ski condos on the mountain and townhouses are always in great demand for part timers we are also beginning to see a huge leap in land sales. With nothing left to buy people are choosing a more long term goal of building their dream home and developers are capitalizing on the low inventory situation and buying up lots for spec homes. We currently have 52 pending land sales from CB South to the mountain.

In the last month, several listings have gone under contract in record time. For an up to date list of available properties, you can check out my new website, which has a property search feature. The web site is still being worked on and will provide more information moving forward, for now you can find information about specific neighborhoods from Gunnison all the way to Mt CB, and my blog with videos and newsletters. I keep my Facebook ,Instagram, Twitter and LinkedIn pages up to date with listings and pertinent information about the market in Crested Butte and surrounding areas- the links are all live at the bottom of this email:) Thanks for reading, and for more information on listings, or to list your home, you can reach me by email, or call me at 970-209-9004.

Nikki P. logo

I am extremely proud to serve on the Board Of Directors for Crested Butte Chamber of Commerce. It feels wonderful to be a part of this organization that has kept the community informed through the pandemic and continue to find the silver lining for business & home owners as well as visitors. I love the Nordic Report, Avalanche Forecast, Trail Report, and LOVE the link to CBTV 10 Daily Weather report! Noah Wright is the weatherman and a long time local that has a passion for watching the weather trends and delivers information in a fun and relatable way. He gives an extended forecast so that you can plan your trip around the weather!

CLICK HERE to go to the Crested Butte Chamber of Commerce Website

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