The September statistics for La Plata
County real estate are finalized. As summer officially ended and we head into
fall, the results are similar to the previous trends we have seen, and in line
with expectations.
With 85 total sales for the month, we
are slightly below last year’s total for September (91). We have talked about
this trend recently—the strong results in total numbers, but also the
acknowledgement that they are slightly under the 2013 performance. We have noted
that the market has seen steady growth in the last several years, and
eventually it must level out and restore some balance. As is a common trend in
our area, the September totals are also lower than August totals, as the peak
summer months tend to be the highest volume in La Plata County real estate.
As we have noted in several of the
past months, the average price remains higher in 2014 than several of the
recent previous years since 2008, and the median price is the same—higher than
any since 2008. These are both positive reflections of the state of the market.
We are currently at a year to date total of 751 sales, whereas last year we
were at 802 at this time of year.
After substantial sales over the
summer, the inventory is down in the area, which means less competition for
home sellers. Even if the number of buyers is fewer in the market, they will
have less homes to choose from. Of course, some price ranges and areas
have more inventory than others, so if you have questions regarding a specific
area of the market, please call me. Typically, the inventory is at its highest
in the middle of the summer, and it drops during the fall and especially the
winter before starting to pick up in the spring.
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