The chart below shows real
estate data for La Plata County residential sales in January compared to
previous years.
At the start of 2014, La Plata
County closed 47 total residential sales. While these transactions closed in
January, the majority would have been under contract in the November time
frame. Presumably due to the government shut down in October, real estate was
slower at that time, thus impacting the total number of January closings.
Currently, La Plata County has
94 residences under contract--the warm January weather has contributed to the
strength of the market at this time and the movement in inventory we are seeing
this first quarter.
Overall, these numbers are
comparable to the results of the past seven years. Naturally, 2009 was
lower, but the other years reflect similar numbers.
While the average sales price
is slightly lower, the average days on the market number is also lower.
Therefore, the inventory has moved more quickly at the start of 2014 than other
years—great news for an active real estate market!
We
must remember January is the beginning of the year, so it does not accurately
predict the whole year. We will need to wait a few months to determine if a
trend is in place. One month is never enough time to draw conclusions. However,
we are glad to see a strong start to this year, and look forward to the rest of
2014.
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