The Chaffee County real estate market continues to shift, with new trends emerging in Buena Vista and Salida. February's data offers insights into inventory levels, pricing, and sales activity in these two markets.
Buena Vista Housing Market Overview (Single Family and Condo)
Median Closed Price: $588,500 (-4.3% YoY, -21% MoM)
Homes Closed: +38% YoY (steady MoM)
New Listings: +11% YoY, +33% MoM
Median Days on Market: Down 22 days YoY, down 93 days MoM
Buena Vista saw an increase in new listings compared to both last year and last month, contributing to expanded inventory. Home sales also rose year-over-year, while median prices experienced a month-over-month decline. The time it takes to sell a home shortened significantly compared to both last year and the previous month.
Salida Housing Market Overview (Single Family and Condo)
Median Closed Price: $655,000 (+14% YoY, -23% MoM)
Homes Closed: +14% YoY (steady MoM)
New Listings: +21% YoY, +10% MoM
Median Days on Market: Up 12 days YoY, up 59 days MoM
Salida's market saw moderate growth in new listings and home sales compared to last year. Median home prices were higher than the previous year but declined compared to the previous month. Homes in Salida spent more time on the market than in Buena Vista, with the median days increasing both year-over-year and month-over-month.
Market Comparison
While both markets saw new listings added in February, Buena Vista experienced a larger percentage increase. Home prices moved differently in each market, with Buena Vista seeing a decline and Salida showing an increase year-over-year. Homes sold more quickly in Buena Vista, whereas properties in Salida remained on the market for a longer period.
Buyers, sellers, and investors may find these trends useful in assessing market conditions. If you're interested in exploring real estate opportunities in Buena Vista, Salida, or elsewhere in Chaffee County, reach out for a market consultation contact Shawn Allison at Shawn@FirstColorado.com
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