The Colorado Association of REALTORS® puts together statewide real estate statistics monthly so we can see a bigger picture of the current market. Comparing it to our local La Plata County market can provide additional insight.
There were 8,941 new single family home listings in August 2022 which was 11% less than in August 2021. However, we are less than 1% away from where we were this time year-to-date last year. With 7,018 August 2022 sales, there has been a decrease August to August and year-to-date. La Plata County is also slightly behind where we were this time in 2021.
The Colorado median sales price rose 10% to $570,000 for August and La Plata County rose 8% and sits $87,500 higher than the state. Year to date, Colorado is at a median of $575,000 with La Plata County $95,000 higher. Colorado as a whole is still seeing a higher percent of the list price received, at 99% in August and 102.3% YTD. La Plata County saw a minor dip in August down to 98.1% but still just over 100% YTD.
Inventory is still moving rapidly but months’ supply is beginning to rebuild. Colorado has seen a 67% growth from August 2021 to August 2022 while La Plata has seen a 55% growth over the same time span.
In years past, the winter months are slower for the real estate market, but with residual COVID impacts on our market, we are eager to see if that trend continues this year. We are always happy to answer any questions about selling or buying real estate in Colorado.
If you would like a full Colorado Association of REALTORS® statewide report, please let us know.