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Salida Colorado Real Estate... Is it a buyers' or Sellers' Market?
We all have our "gut" response to the answer to that question. However a pretty good way to determine this is to use something called absorption rate.. it compares the number of active homes to the number of solds for a given period of time and comes up with a number called...MONTHS OF INVENTORY. This means, given what is for sale right now and what sold this month, how many months will it take to sell everything currently on the market.
The following graph depicts the information for Salida Colorado Real Estate, broken down into 3 groups:
Residential (homes with <1 acre) Homes with Acreage (1+ acres) and Land (can have structures but no home)
According to the numbers, we still are officially in a buyer's market... 17, 38 and 85 months of inventory...much more than 6 for a balanced market. However, the story is a bit more complicated here. In the past 2 weeks, I have had 3 buyers lose the home they wanted because they either waited a bit too long (1 1/2 weeks) to make the offer or started their offers too low. This is true for homes that are priced well. So, the point is... make sure you talk to your Realtor about the local market and how quickly to move on a parcel and what the market will bear wrt offering price.
Good luck with your search! Below the graph is a link for homes in a few of our surrounding communites if you are interested.