Monthly, The Wells Group compiles statistics in order to gain further understanding on the current market in relation to years past. After another busy summer, our local La Plata County real estate market is following a past trend of a slower winter season.
October 2022 had 85 sales bringing this year to a total of 971. The preceding three months have all seen over 100 sales; however, it is not uncommon for less activity going into winter. This time last year there were 1,197 total sales and in 2020 there were 1,181. Those two years were significantly impacted by the increase in market activity we experienced due to Covid-19. In 2019, January through October had 987 sales, which more closely matches this year’s numbers.
Out of the 971 sold year-to-date 589 were in the $300,001 – $800,000 price range. Another 181 sold for over $1,000,000. This is reflected in the average and median sales prices. The average sold price is currently $752,579 up $100,000 from 2021. The median is sitting at $600,000 which is $65,000 higher than last year.
Looking forward, the inventory has continued to increase and now sits at 237 active listings from less than 100 at the beginning of the year. Over one third of the current listings are listed for $1,000,001+.
As we near the end of the year, we are looking towards continuing to provide market updates and assist you with any of your real estate needs.