Welcoming The Summer Season

Well we are officially in SUMMER with this hot, hot weather!  We are also seeing again this year something we have historically seen every year in early June for the past 10 or more years: these first few weeks after school is out there seems to be a let down in real estate activity.  It always catches us by surprise and there is no concrete explanation that we can think of, except that we know it happens year after year and may be due to pre-occupation with graduations, weddings and family vacations.  We have just come off of a good spring buying market and we don't see this June slow down as any kind of projection for the year to come.  We just think people are taking a breather right now and we predict we will see a continuation of the good activity seen earlier this year as the summer progresses.  We have had several calls this week from some of the Sellers we represent asking why showing activity has seemed to decrease lately.  Hopefully the weeks ahead will see a return of activity by buyers searching for real estate.

I also wanted to give you a general statistical update of the overall market.  As of yesterday there were 940 total residential solds over the last 12 months in La Plata County which represents very strong activity for 2013 to date.  Of those sales, 83.8% were in the price category of $0-499,999; 14.3% were in the price category of $500,000-999,999; and 1.9% where in the price category of $1,000,000 and up.  We have seen an uptick in mortgage rates to around 4.5% but we still believe that real estate sales will continue to be strong through the rest of 2013.