Chaffee County Real Estate Market Update: Aug 2020
Here are the latest market stats for Chaffee County, CO this past August 2020.
Keeping with last month’s presentation of stats, I’m including the graphs provided by ROCC (Realtors of Central Colorado) to make it easier for you to get an at-a-glance view of the key metrics. ( I like visuals ;)
To briefly summarize for you though, the Chaffee County real estate market saw an even greater decrease in our housing supply (a 29% decrease from this time last year) and since our demand is in no way waning, our prices are still creeping up. In fact, closing prices for homes in Chaffee County hit a 10-year record high with a median closed price of $479,500, a 19% year-over-year increase and an 18% month-over-month increase.
Additionally, homes sold faster than in months past which speaks to our strong demand. Homes spent a median of 16 days on the market, which is 20 days less than this time last year and 17 days less than last month.
Traditionally, the house market slows a bit in the fall season, but this year is in no way “traditional.” In addition to the global pandemic, we’re in an election year, which often does affect home purchasing behavior. However, the steady demand for homes in this area is likely to impact our local market, at least for now.
Have a question about the Chaffee County real estate market? Feel free to reach out to me with your questions or real estate needs.
Stay safe, stay healthy, stay positive… and be kind to one another!
Your Chaffee County Real Estate Resource,
For a detailed chart of all the metrics, email Monica@cprealty.com
Metrics provided by the Colorado Association of REALTORS (R) and REColorado. Visuals provided by Realtors of Central Colorado (ROCC).