Chaffee County Real Estate Market Update: July '20
Here are the latest market stats for Chaffee County, CO this past July 2020.
This month I have a little something new for you. Below are a few visuals from ROCC (Realtors of Central Colorado) that visually break down the median price as well as some of the key metrics for just Salida and Buena Vista. This is helpful if you’re trying to decide between the two towns.
These are just 2 of the visuals available. If you'd the full document that visually breaks down the numbers even better, please email me at Monica@cprealty.com.
To summarize the numbers for you though, the Chaffee County real estate market continues to have more demand than supply (only 4.4 months) and as a result, our prices are rising ($430k- median year to date sold price). The minor dip in home prices we saw last month was short-lived and primarily due to the shutdown in April. Now that people are back out, many are ready to buy. For my office, July was the busiest month we’ve had all year by far!
Nationally, as a result of COVID, the demand for rural areas has increased substantially. More people want to leave high-population areas for more space, privacy and outdoor options. Plus, with the increased ability to work remotely, fewer people are tied to cities for work and can live anywhere. Chaffee County, as you know, is an excellent escape from the city.
Knowing this, I would expect to see continued, if not increased demand for this area. The question is, will our supply increase to meet the demand and keep our prices from rising too much or will supply remain low as our prices increase? Stay tuned to find out.
Have a question about the Chaffee County real estate market? Feel free to reach out to me with your questions or real estate needs at Monica@cprealty.com
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).