The October residential Real Estate numbers for La Plata County are out, and what a phenomenal month it was! With 120 residential sales, October was the highest month thus far in 2014, and also ranks as the highest October since 2008.
With a total of 877 residential sales year to date, we are only slightly behind last year, which was 897 by the end of October 2013. We are still reflecting both a higher average, as well as a higher median price for 2014 than any year since 2008. As we have said for the past several months, 2014 is a continued strong year after the Recession. The total number of sales is slightly lower, but the higher average and median prices reflect the value of the properties. This is to be expected after exponential growth.
The average and median days on the market are also lower than the last handful of years, which is a great reflection on the strength of the market. Typically at this point in the year, the real estate market winds down right before the holiday season. We are thrilled to see the strength of this October, and grateful for a solid month. With only a couple months left in 2014, we await the final results for the year and look forward to a healthy finish for 2014.