Every month we get a statistics breakdown of the prior month’s real estate market activity so we can look at key metrics and review what’s been happening. October saw a lot of movement in properties while median and average sales prices are still on the rise.
In La Plata County, 130 properties were sold in the month of October contributing to the year-to-date’s total of 1,197. With two months left in the year, just 252 more sales would bridge the gap between October 31 year-to-date and the 2020 total of 1,449. The average sold price now sits at $626,165, about $100,000 more than 2020 and $30,000 more than last month. The median sold price is $530,000 which is $85,500 higher than 2020 but $45,500 less than September 2021. With elevated sale prices, the average and median days on the market have decreased significantly since 2020. The average in 2020 was 135 days and October was 86; an approximate 40% decrease.
As of October 21, 2021 there were a total of 143 active listings on the market. The majority are in the higher price range of $1,000,001+ range. The most popular range is $200,001-$800,000 which we see reflected in the sold listings making up about 75% of the year-to-date sales. There are 223 listings under contract which gets the market close to meeting last year’s total sales.
Compiling these numbers and evaluating where the market conditions are lets us understand trends and assist you better. Please let us know if you have questions about the ongoing real estate market and how we can help.