The Colorado Association of REALTORS® provides statewide numbers reviewing the state’s real estate market allowing us to look at the recent trends and compare Colorado’s macro market with our La Plata County market.
Colorado had 11,129 new single family home listings in May 2022 which was a 10% increase from May 2021. La Plata County also saw a 3.2% increase this May. There was also an increase in sales both in the state and in our local market. Colorado’s median sales price is $599,000 for May and slightly lower at $574,900 year to date. La Plata County’s median sales price for May was $750,000 with a year to date median of $677,250. Despite the state’s lower median sales price, 103.7% of the asking price is still being received throughout the state.
Days on market are significantly less statewide at only 22 for May versus La Plata County at 86. Colorado has 8,718 active listings as of May 31, increasing the months supply of inventory 22% from May 2021. La Plata County also saw a 33% increase in the months supply of inventory, moving us in the direction of a balanced market.
Overall, La Plata County and Colorado on a similar trend with an increase in activity, more inventory, and increasing median sales prices. We are eager to see what these statistics show in the coming months as the real estate market is at its busiest. Please feel free to reach out with any questions as we would love to help you on your real estate journey.