Crestone is a statutory town in Saguache County in Southwestern Colorado, United States. The population was 73 at the 2000 census. It is a small village at the foot of the western slope of the Sangre de Cristo Range, in the northern part of the San Luis Valley. Crestone was a small mining town, but little paying ore was discovered. In the 1970s, a large land development, the Baca Grande, was established to the south and west and several hundred homes have been built.