Every month, The Wells Group compiles La Plata County real estate statistics so we can reflect on trends and key metrics. Comparing the current year to years past helps us see movement in the market and provides us insight as to where it might be headed.
In June 2022, there were 97 sales, closing the first half of the year with a total of 541. At this time last year there were 658 sales. Last year was a very busy year in real estate due to people moving in from bigger cities, working from home, and low interest rates. This year so far been impacted by low inventory and recently rising interest rates. Continuing through the summer months, which are typically the busiest in the real estate industry, we hope to see an uptick in properties sold as in years past.
We have seen an increase in our inventory over the past few months and on June 30th there were 259 active listings. May 2022 had 209 active listings, and April 2022 had 134 active listings. Looking back to June 2021 there were 192 active listings. As we see inventory rise, the months’ supply of inventory is rising and balancing out the sellers/buyers market.
The median sold price for 2022 is now $610,000 while the average is $730,706. The median for 2021 was $535,000 and the average $652,663. This is reflected in this year’s solds with the largest category being the $700,001-$800,000 range.
As we enter the second half of 2022, we are eager to see how new inflation, residual pandemic behavior, and ongoing interest rate changes factor into our market. We would love to talk with you about how we can help guide you and answer any questions.