Salida Colorado Real Estate Quarterly Reports Series: Buena Vista
The MLS board has just published the 3rd quarter residential home sales activity and this is the 2nd of 6 in the marlet report series. Since our MLS area is small and broken up into small communities, I have taken each one to help you get a feel of the entire area, not just Salida Colorado. The entire list can be found at the end of this post.
The town of Buena Vista has a population of 2638, about 1/2 of Salida Colorado at 5274 (2011 census). Interestingly, that little town has almost as many homes for sale as Salida (187 versus 199).
Similar to Salida, there are more new listings on the market than this time last year (a 21.6% increase). There are more closed sales (23.6% increase). Homes are selling for an average of 94.9% of list price, up from 94.1 last year. We are still not at our 97% of list price but since prices are now more reasonable, lowball offers are being rejected.
Buena Vista's median sales price did not change but the average sale price decreased by 9.4% compared to last year. The homes that are selling the fastest are the homes in town with a lower price tag. If you have not considered Buena Vista yet, you should. Nice community, great prices and close to the ski hill, white water and more.
Similar to Salida, Buena Vista's inventory is decreasing. It is down 26.8% from last year. More sales!
The following graph depicts the 3rd quarter differences between 2011 and 2012. Again, homes are selling!
Historically, as can be seen by the graph below, Buena Vista prices have been below the MLS average with Salida being above average. With the downturn in MLS prices since 2011, Buena Vista has actually caught up and is fairing better thant the average MLS sale prices.
Stay tuned for the next report .. the Nathrop Colorado 3rd Quarter market Report.
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