Thursday, October 2, 2014

2014 Real Estate Statistics Through September



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.
Overall, these numbers follow the trends we have seen this year, and we expect the remainder of the year to follow in the same manner.  

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