Chaffee County Real Estate Market Update: Sept 20'
Here are the latest market stats for Chaffee County, CO this past September 2020.
Below are 2 graphs provided by ROCC (Realtors of Central Colorado) that display some of the key metrics really well. I'm really liking these graphs, what do you think?
As always, if you want the full summary and visuals for yourself, email me (Monica@cprealty.com) and I'll happily send them to you.
To briefly summarize for you though, the Chaffee County real estate market saw record increases in homes sold, had a very slight increase in median closed price and continues to have a decline in home inventory.
The number of homes sold was 69% more than last September and by the end of the month, 136% more homes than last year moved to pending status. This tells us that the coming months are looking active as well.
Here is a bit of good news for those of you closely watching home prices. The median closed price for a Chaffee County home in September was $397k, just 1% higher than last year and a 18% decrease month over month.
Our inventory however, continues to decline though the number of new homes coming on the market in September was higher than last month (27%), as well as last September (44%). This tells us that our demand is increasing, and our supply is not keeping up. We ended September with just 6 weeks of inventory; 10 weeks less than last year and 3 weeks less than last month.
With this continued increase of demand and decrease of supply, prices will likely be shifting up again soon.
Anecdotally, homes are selling quickly and for top dollar. We’re seeing many homes receive multiple offers within the first few days they come on the market. Despite our pandemic and election season, the Chaffee County real estate market is not slowing down at the moment.
The market does traditionally slow down in winter, we shall see what the remainder of this non-traditional year holds.
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,
See how active our market was this month!
September saw a large increase in new listings. However, our supply is still not keeping up with our increasing demand for homes in this area!
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).