Every month, we compile numbers from market activity to compare, contrast, and find key metrics. With the second month of 2022, we can already start to see this year follow a similar trend to 2020 and 2021.
There were 66 sales in February, the exact same as January. In 2020 and 2021, January and February also had almost identical sales. If this year continues to follow past trends, we hope to see this number increase about 30 sales to around 95 total sales in March. Of the 132 sales this year so far, over two thirds of the properties were in the $300,001 – $900,000 price range.
Year to date, the average price for La Plata County is $701,993, about $50,000 higher than the 2021 average. The median has also increased to $554,500 from $535,000 in 2021. While these numbers continue to rise, there are also less listings in the higher price ranges ($1,000,000+). The $2,000,000+ price range has grown the most with 21 active listings as of February 28, 2022. The overall number of active listings is slightly elevated from January 2022, but significantly lower than this time last year. We see this reflected in the decreased number of properties under contract; there is less inventory to sell and quicker closings.
As the year continues, stay updated on our local real estate market through our weekly blogs. As always, please don’t hesitate to reach out with any questions you have.