September 2016 Market News

Market Update

September 2016 Market News

September 2016 Market News

What’s Happening in the Real Estate Market

In August, 28 single family homes and condos were sold for a total of $12,334,630, which represents three fewer homes than were sold in July, but a higher total sales volume of nearly $2 million. There were many showings and executed contracts in July and August, so expect sales to be higher later in the fall. Three homes sold for over $1mil and the average reduction off list price was 3.8%. Currently, another 65 homes and condos are under contract, representing a listing amount of $42,882,965. In August, another 11 of the Timbers condos of which I am the exclusive Listing Agent for, sold. All but two of the remaining 8 units are under contract.

In land sales, a total of seven parcels sold in August – one less than in July for a total of $1,590,750. The total sales volumes in July and August are similar and the total percentage off list price in August was 4.5%. Sales in August represent a wide range of land from a 3.58 acre parcel in the town of Gothic for $8,500 to a .14 acre parcel in Crested Butte on Whiterock Avenue, which sold for $595,000. Currently, another 16 parcels are under contract with a total listing price of $3,781,400.