Salida Colorado Home Prices
April, 2014
Salida Colorado Home Prices and Salida Colorado Homes for Sale are both live links and updated regularly if you want to study the market on your own.
As many of you know, the nation's real estate market is either hot or heating up. I would give us a lukewarm and hope for warmer this spring. We generally follow the Denver market and 2 years later we are eagerly waiting our turn.
A healthy market involved 3 factors; namely market time, inventory and price trends.
Market time
One of the ways you can tell wheather the market is a seller's market (warm to hot sales) is market time. In March, the average days on market for homes sold in that month was 219. March, 2013, the average days on market was 147. For active homes, the average DOM is 295.
In a balanced market, market time is 180 days. Last year, Salida was under that and this year, we are much higher for active listings and significantly higher for sold homes.
According to the time on market indicator, we are not yet back in the "saddle" of a healthy seller's market.
Inventory
What about inventory? Is it decreasing as it should in a seller's market? Looking at the graph below, the answer is yes. Right now, we are balanced with a resounding yes on decreasing inventory and no on the days on market.
Price Trends
According to the graph below, we hit the doldrums right when we expected it to hit, in November. Since January, we have been back on track with increasing sales prices, which correlates with decreasing inventory.
The million dollar question.. is the market improving? Yes. Is it a hot market? No. Sale prices are up, inventory is down but time on market is still very long. Nationally, 34% of homes sold in march were sold in under a month.
Slow and steady. We are improving. We are hoping for a more brisk market later in the spring.
Salida Colorado Home Prices
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Salida Colorado Home Prices
Jan -March 1, 2014
Salida Colorado Home Prices and Salida Colorado Homes for Sale are both live links and updated regularly if you want to study the market on your own.
This blog post will be approached two different ways. In our neighboring communities of Nathrop, Howard, Coaldale and Cotopaxi, almost all the properties are considered HWA (homes with acreage) because they are on 1 acre or more. In Salida, however, we have a mix of residential (homes with
Combined Statistics (Both residential and HWA)
The number of active listings in Salida (81201) increased by 1.2% from the previous month.
The median number of days active properties have been listed is 247. This is much longer than the national average of 92 days. As you can see, home prices over the past year went up and then actually ended up a bit lower than April, last year. Sold prices peaked in late summer, early fall and then went back to what it was 4/13. However, if you look at January until March 1, there appears to be a slow steady increase.. a good sign for the spring.
Another good sign for spring sellers is that inventory has steadily decreased since October. In general, when inventory decreases, sold prices go up. We will see if that indeed happens this spring. Early indications indicate that it will indeed be the case.
And now the fun begins. As mentioned earlier, our delightfully split personality Salida has two faces... residential and HWA (homes with acreage). As of March 1, Salida had 57 homes for sale and 67 homes with acreage for sale. As you can see below, the average price of the homes with acreage is about 42% higher than the residential homes in town. They are generally bigger, newer and on more land. Sold prices for homes with acreage average about 3o% higher than residential.
There are more homes with acreage on the market than residential but only 5 HWAs sold since 1/1/2014, as compared to 17 residential homes.
Overall, homes with acreage take longer to sell (average 500 days on market), sell for more when they do.
We are gearing up for a warmer market. It is time since 91% of the rest of the country is in a hot market. We will take warm!
Salida Colorado Home Prices
----------------------------------------------------
Salida Colorado Home Prices
Jan -March 1, 2014
Salida Colorado Home Prices and Salida Colorado Homes for Sale are both live links and updated regularly if you want to study the market on your own.
This blog post will be approached two different ways. In our neighboring communities of Nathrop, Howard, Coaldale and Cotopaxi, almost all the properties are considered HWA (homes with acreage) because they are on 1 acre or more. In Salida, however, we have a mix of residential (homes with
Combined Statistics (Both residential and HWA)
The number of active listings in Salida (81201) increased by 1.2% from the previous month.
The median number of days active properties have been listed is 247. This is much longer than the national average of 92 days. As you can see, home prices over the past year went up and then actually ended up a bit lower than April, last year. Sold prices peaked in late summer, early fall and then went back to what it was 4/13. However, if you look at January until March 1, there appears to be a slow steady increase.. a good sign for the spring.
Another good sign for spring sellers is that inventory has steadily decreased since October. In general, when inventory decreases, sold prices go up. We will see if that indeed happens this spring. Early indications indicate that it will indeed be the case.
And now the fun begins. As mentioned earlier, our delightfully split personality Salida has two faces... residential and HWA (homes with acreage). As of March 1, Salida had 57 homes for sale and 67 homes with acreage for sale. As you can see below, the average price of the homes with acreage is about 42% higher than the residential homes in town. They are generally bigger, newer and on more land. Sold prices for homes with acreage average about 3o% higher than residential.
There are more homes with acreage on the market than residential but only 5 HWAs sold since 1/1/2014, as compared to 17 residential homes.
Overall, homes with acreage take longer to sell (average 500 days on market), sell for more when they do.
We are gearing up for a warmer market. It is time since 91% of the rest of the country is in a hot market. We will take warm!
Salida Colorado Home Prices
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