The winter season is beginning to show itself with recent snow flurries and colder weather. We typically see less market activity in the winter. However, as we enter the fourth quarter, some familiar trends are emerging in the La Plata County residential real estate market.
October finished strong with 99 sales, up 8.8% from 2023 and 16.5% from 2022. Year to date, there have been 743 total residential sales, and we are within 3% of this time last year. However, pending sales are down from last month which we anticipate will continue through the remainder of the year. Although we’ve seen fewer sales, there has been a 1.8% median price increase to $650,000.
Among active residential listings, the $1,000,000+ category makes up nearly 40%. This is a significant amount, however these properties tend to be more seasonal, so we expect that percentage to decrease over the next few months. Days on market have remained consistent throughout the year but are trending higher compared to 2022 and 2023.
While the La Plata County real estate market may slow during the winter, now is the perfect time to start planning for next year. Whether you’re considering buying or selling, Max Hutcheson and Deven Meininger are here to guide you through the process. Please reach out with any questions or to discuss your real estate goals in the greater Southwest Colorado area - we are ready to help!
