Colorado Association of REALTORS® July 2022

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single family market overview durangoMonthly, the Colorado Association of REALTORS® compiles statistics from each county as well as the state overall to review the previous month’s real estate activity. We also compare this past month with a year before to see trends, metrics, and possible predict where the market is headed.

In July 2022, Colorado had 10,559 new single family home listings which was just slightly down from July 2021. July 2021 had 11,494 new listings and saw 9,653 sales compared to 2022’s 6,786 sales. As of July 31st, there have been 49,000 sales which is 11% less than July 31st, 2021. Last year’s market was very unique and unexpected as Covid was an unforeseen factor that procured a lot of real estate activity. La Plata County has followed similar trends with a few less new listings and sales.

Year to date, the median sales price for Colorado increased 15% over the past year and is now $575,000. La Plata County’s median price is almost $100,000 more sitting at $673,450 year to date. Similarly, Colorado’s average sales price is $715,051 compared to La Plata County’s $836,778. However, Colorado has seen 102.8% of the list price received while La Plata County is at 100.7% year-to-date.

In both the state and county, we still are seeing very quick sales with 26 days on the market statewide and 84 in the county both around 14% less than 2021, year to date. In both Colorado and La Plata County we’ve seen the inventory grown nearly 55%, both now at 2 months supply, over the past year and looking like it will continue in that direction.

All in all, the real estate market continues to change and grow in the county, state, and nationally. If you would like to view the whole report, or have any questions, please don’t hesitate to reach out.