April 2025 – Market Trends

As we move deeper into spring, the local real estate market in Gunnison County is reflecting some interesting shifts—both in inventory and pricing. Regionally, we’re seeing mixed signals depending on property type. According to the latest stats:

• New listings were down 27.8% for single family homes, while townhouse-condo listings were up 38.9%.

• Pending sales doubled for single family homes (+100.0%) but dipped 29.4% for townhouse-condo properties.

• Median sale prices fell 35.1% for single family homes to $579,500, while townhouse-condos saw a price increase of 29.4% to $550,000.

• Days on Market saw a small drop for single family homes (–4.2%), but a rise of 15.6% for condo/townhouse properties.

On a national scale, inventory is ticking upward. The U.S. housing inventory reached 1.33 million units heading into April—a 4.0-month supply, according to NAR. This is nearly a 20% year-over-year jump. However, prices remain resilient, with the national median existing-home price rising 2.7% to $403,700.

Let’s zoom in on how these dynamics are playing out in Crested Butte, Crested Butte South, Gunnison City, and Mt. Crested Butte.

Crested Butte

This ski-town market remains selective, with limited single family activity but a significant surge in condo values.

• Single Family Homes

  • New Listings: 0 (same as last year)

  • Sold Listings: 1 (vs. 0 in April 2024)

  • Median Sales Price: $129,789 — notably low, likely an outlier or unique property.

  • YTD: 7 new & sold listings with a healthy median price of $1,497,000

• Townhouse/Condos

  • New Listings: 2 (vs. 1 last year)

  • Sold Listings: 3 (up from 2)

  • Median Sales Price: $2,250,000 — up dramatically from $877,500 last year.

  • YTD: Very limited movement with only 1 sale, median $725,000 — signaling April’s spike may not represent broader market trend.

Crested Butte South

CB South continues to deliver a balanced market with consistent demand for both homes and condos.

• Single Family Homes

  • New Listings: 1 (same as last year)

  • Sold Listings: 1 (same as 2024)

  • Median Sales Price: $1,685,000 — nearly double last April’s $865,000.

  • YTD: 7 new listings, 3 sold — median price of $1,500,000 suggests a healthy appreciation trend.

• Townhouse/Condos

  • New Listings: 1 (steady)

  • Sold Listings: 3 (up from 1)

  • Median Sales Price: $795,000 — down from $1M in 2024.

  • YTD: 7 new listings and 4 sold with a median of $867,500 — a stable condo market with good volume.

Gunnison City

Gunnison’s market is showing increased activity, especially in the townhouse-condo segment.

• Single Family Homes

  • New Listings: 7 (up from 2)

  • Sold Listings: 1 (down from 4)

  • Median Sales Price: $560,000 (up from $492,000)

  • YTD: 17 listings and 6 sold with a median of $678,750 — price gains despite fewer closings in April.

• Townhouse/Condos

  • New Listings: 1 (down from 4)

  • Sold Listings: 5 (up from 3)

  • Median Sales Price: $268,500 — down from $350,000 in 2024.

  • YTD: 13 closed sales with a median of $279,136 — making it the most affordable option in the area, ideal for first-time buyers or investors.

Mt. Crested Butte

This luxury-driven market saw a substantial jump in activity for condos and a standout high-value single family sale.

• Single Family Homes

  • New Listings: 0 (down from 1)

  • Sold Listings: 1 (same)

  • Median Sales Price: $2,775,000 — up from $2,070,000 last year.

  • YTD: 5 new, 3 sold — median price steady at $2,775,000, showing strength in high-end homes.

• Townhouse/Condos

  • New Listings: 15 (up from 4)

  • Sold Listings: 6 (vs. 4)

  • Median Sales Price: $654,500 — up from $420,000 last April.

  • YTD: 42 listings, 16 sold — median price at $718,750, reflecting robust demand for mid- to high-end ski-in/ski-out units.

Final Thoughts

April’s real estate activity in the Crested Butte area shows a tale of divergent markets:

• Single family homes are seeing a mix of high-end activity in Mt. Crested Butte and Crested Butte South, with limited supply but strong pricing.

• Townhouse and condo properties are seeing increased volume and notable price growth, especially in Mt. Crested Butte and Crested Butte proper.

• Gunnison remains the most accessible market, with continued strong condo sales and a price point that appeals to broader buyer demographics.

As the market heads into the summer season, we’ll be watching inventory levels closely. Increased listings could unlock opportunities, especially for buyers who’ve been waiting for more choices.

Let’s chat! Whether you’re looking for market insights, a dream home, or the perfect investment, I’m here to help. Call, text, or email me anytime!