Chaffee County Real Estate Market Report: January, 2012

Chaffee County Real Estate Market Report: January, 2012

First, our average home prices has dropped 27% this year. Because of that, folks who have been waiting are spending more money, getting the homes they have been watching. These homes have been on the market for awhile longer than some of the less expensive homes, hence the Days on Market increase.

In addition, we have 28 pendings this month and 375 active residential listings. Inventory is also decreasing slightly.

CHAFFEE COUNTY COLORADO RESIDENTIAL HOME SALES, END OF JAN, 2012

Looking at the Salida Colorado market trend another way, the consistency of the average sale price is about 200,000-ish less than the listing price. No, it does not mean that folks are negotiating that much but they still ARE NOT buying the high end homes. I have my first buyer in 4 years who wants a $600,000+ home and he is deeply discounting his offer.

So far, the news is looking good for Salida CO Real Estate between $200,000 and $300,000.