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Sunday, October 1, 2023

Prices, new listings and inventory down in most areas of the state

Slower housing sales extend into September

By Saul Rosenthal
Special to The SUN

According to market statistics released this week by the Colorado Association of Realtors (CAR), the traditional summer housing slowdown that was evident in July and August in Colorado has continued into September. Housing markets often experience slower sales during the summer months as buyers and sellers focus on vacations, the end of summer and the start of a new school year.

Sales of single-family homes in Colorado declined for the third month in a row, however, down 7 percent in September compared to August. Since June, single-family housing sales have dropped 16 percent and condominium-townhouse sales are down 8 percent.

Compared to September 2014, sales are up 7 percent for 7,651 single-family homes and just over 8 percent for 2,604 condominiums and townhouses. Year-to-date (January through September) sales are up significantly compared to the first nine months of 2014.

Statewide, the median price of a single-family home in September was $300,000, up 9 percent from 2014 but down $16,000 from June of this year. For condominiums and townhouses, the median price in September of $221,500 was a 14-percent increase over September 2014, but no real change from August or June of this year.

Low inventory levels continues to be a significant problem in most areas of the state. Though new listings of properties for sale were up 10 percent for single-family homes and 18 percent for condominiums and townhouses when compared to September 2014, they were down 25 percent and 22 percent, respectively, from June of this year.

The full version of this story is available in the print edition and e-edition of the Pagosa Springs SUN. Subscribe today by calling (970)264-2100 or click here.

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