Tracking La Plata County residential real estate market’s key trends for active, pending, and sold listing, as well as average and median prices and days on market, help us accurately assist and advise buyers and sellers.
The first four months of 2024 were very similar to 2023 activity, with only 3 fewer sales. However, we are seeing more movement headed into the summer months as indicated by an increase of 36% in active listings and 60% in under contract listings since the beginning of the year.
The median sold price is close to where we ended in 2023, currently $630,000 vs. $638,000 last year. The average is $731,094 which is 11% lower than this time in 2023. The number of days on market has been decreasing since the beginning of the year, meaning homes are selling quicker. This is despite the recent hike in interest rates, although we may see this play out a bit more in May and June.
Of the 187 properties sold, the largest single category was $500,001 - $600,000 which continues to grow month over month. The other significant category is $1,000,001 - $1,500,000 representing 15.5% of sales year to date, and 14.5% of the total number of pending sales. Although the active residential listings are more spread out over the price categories, 16.5% is represented in the same $1,000,001 - $1,500,000 category. There are only seven active listings under $200,000.
Whether you’re a buyer or seller in the Southwest Colorado real estate market, please let us know how we can help with your real estate needs.
