I know 2017 was a busy year for those in real estate. I was busy and so far this year is starting off well, too. So just how good was the last year's real estate market? Let's take a look at the statistics.
Overall sales were up in the total dollar volume and sales numbers. The total number of sales increased 17% over 2016.
Total sales throughout Delta County:
1073 in 2017
914 in 2016
These numbers includes all segments of the market...farm/ranch, land, mountain property, residential and commercial.
Dollar volume:
$195 million in 2017
$172 million in 2016
That's a 13% increase.
Last year there were 13 sales over $1 million. The largest sale was a ranch property in Eckert, CO at $4.8 million.
In 2016 there were 10 sales over $1 million dollars.
The high end sales made up $29 million of the total sales volume in 2017.
Foreclosure information:
If you are waiting to get a deal on a foreclosed house, you might have to wait a while. Overall the number of foreclosure filings and completed foreclosures were down.
Here's a look at the foreclosure statistics:
The number of filings were down 14% in 2017. There were 101 in 2016 and 87 filings in 2017.
The number of completed foreclosures is also down. There were 44 in 2017 and 66 in 2016.
What's in store for 2018?
I think we will continue to see prices go up in all segments of the market. The residential inventory is very low, and this will continue to drive up home prices. If you want to sell your house...NOW is a great time to do that. Land sales are still lagging behind, but they have picked up as well.
For more Cedaredge and Delta County real estate information, don't hesitate to contact me. I look forward to hearing from you.
**This real estate information comes from statistic provided by Heritage Title Company.
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