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Buena Vista Colorado Market Report (25 miles North of Salida CO)
Buena Vista, 25 miles North of Salida Colorado, is starting to see the real estate market stabilize. The following report is based on homes but land is beginning to move again.. 10 lots have sold out of the 354 that are active... tiny progress but progress!
The sale prices so far this year are significantly lower than Salida (see the Salida Colorado Market Report, 2nd Quarter, 2012) and continue to decrease. We are seeing some buyers choose Buena Vista over Salida because of the price point alone.
Even though Buena Vista's population is only about 2300 compared to Salida at 5500, the number of homes sold is higher... probably due to the decreased averge price.
Days on market for the properties that have sold is relatively constant... around 260, as can be seen below:
April: 271 Days on market May: 240 Days on market June: 290 Days on market
The prices on sold homes in Buena Vista has created a greater interest in the area lately. About 1/3 buyers are interested in BV, knowing that they still have access to Salida if they need it and are charmed with the prices and quiet nature of this lovely town. Prices are bound to start climbing again (they did near the first of the year) but until they do, it is a good place to look for a well priced home.
According to my Buena Vista Colorado Market Report, the biggest difference between Salida Colorado and Buena Vista is the price on the new listings. Salida's new listings average $510,000 where BV's average about $331,000. This could speed up sales and decrease market time for Buena Vista since they share many of the same buyers.