We have the latest numbers for La Plata County residential real estate for the month of August. As we’ve discussed in recent months, real estate activity has been unique this year with many unexpected factors. With 152 total sales, this is more than any August since prior to 2009, and just a slight drop from July’s total transactions. Year to date, we are at 793 total sales, compared to 756 total sales last year at this time.
The median sales price sits at $420,000 compared to last year’s median sales price of $385,000. Average days on the market are at 136, which is slightly higher than last year’s average days on the market. This continues the trend we have seen recently: a slower sales cycle than last year but a higher median sales price.
Summer tends to be the peak season for La Plata County real estate activity. Usually we see fairly strong numbers through September, then see a gradual slowing as we approach the end of the year. The real estate market continues to see first-time homebuyers who desire to enter the market, especially with the low interest rates. We also see many homeowners wanting to purchase homes that better accommodate their needs, creating substantial activity across the board. As always, we are available to discuss the real estate market with you. Please let us know if you have any questions.