The first quarter of 2025 showed remarkable stability in the Crested Butte and Mt. Crested Butte real estate market. The single-family home activity was nearly identical to the same period last year, reflecting a steady market even as many areas across the U.S. have seen declines. Condos and townhomes experienced moderate growth, with the average sales price up 24% and the sold price per square foot rising 11%. Land sales surged, with sold listings more than doubling. Luxury sales slowed, with fewer properties sold and a drop in total volume.
Inventory levels also tightened, especially for condos and townhomes in Crested Butte, where the months supply dropped from 5.9 to just 2.0. Single-family home inventory declined in both Crested Butte and Mt. Crested Butte, signaling a more competitive market for buyers. While Mt. Crested Butte’s condo and townhome supply remains higher at 9.0 months, it has decreased from last year, reflecting increased demand.
Overall, the market is seeing strong pricing trends, especially for condos and land, while luxury and single-family homes are experiencing a shift in buyer behavior. Let’s connect if you have questions about buying or selling in Crested Butte.
