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Crested Butte & Gunnison Market Update Q4 2021

gunnison crested butte liv sotheby's

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 YTD2021 YTD%+-
VELOCITY(Source – MLS)
Commercial Sales Volume$4,282,500
$52,444,660
1,120%
Commercial Transactions839 (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$621,000,00031%
Residential Average Price$710,000$836,000
17.75%
Residential Days on Market205132
-35%
Residential New Listings
669

774


15.7%
VACANCY RATE 5.6%4.4%-21%
CAP RATES – AVG4.0%4.0%0%

About The Author

Channing Boucher

As a LIV Sothebys agent, Channing serves the Western Colorado markets of Crested Butte and greater Gunnison County. Areas of focus include new development, historic properties, recreational retreats, ranch and large acreage properties. He is also a member of the Rocky Mountain Commercial Brokers network, representing Crested Butte and Gunnison County to this group of top agents from around the region. During his 15 year career, Channing has brokered over 600 transactions and over a half billion in volume including $131 million in sales in 2021.

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