Last month’s activity reports have been compiled and released for us to be able to review the movement and trends in La Plata County real estate market. Here we will highlight key metrics that we see happening as well as compare August 2021 to years past.
August 2021 added 124 property sales to the year now totaling at 933. The month’s total was about 30 sales shy of August 2020; however, the year’s total is still higher. With just four months left in the year, the market is on track to meet or beat 2020’s total of 1,449 sales. 2021’s average sale price is $610,010 which is about $80,000 more than in 2020. The median sale price has also increased by about $80,000 which is now sitting at $525,000. Along with higher sales prices, the total days on market (DOM) is decreasing as well, in 2020 the average DOM was 135 days, while 2021 is at 90 DOM. are coming into play in an average of 90 days. In comparison, properties sold in 2020 on an average of 135 days.
Inventory remains shockingly low, there are 207 active listings, and of the active listings only 79 are under $1,000,000. As we head into the 4th quarter we expect this fall and early winter to stay busy and competitive for buyers that are looking for property under $1,000,000.
With the market still hot, please don’t hesitate to reach out with any questions you may have as we would love to help in any way!
- for Deven Meininger