Chaffee County Real Estate Market Update: October Snapshot
The Chaffee County housing market showed a mix of growth and seasonal cooling in October, offering valuable insights for both buyers and sellers. Let’s dive into the latest trends and what they mean for the local real estate landscape.
Closed Sales and Rising Prices
October saw 35 homes close in Chaffee County, a 6% increase compared to October 2023. However, this figure represents a 13% decline from the previous month, hinting at a shift in momentum as the year progresses. The median sale price reached $695,000—up 5.5% from last year and an impressive 17% jump from September. High-end sales were also a highlight, with 8 properties closing at $1 million or more.
Buyer Activity Surges
Despite cooling temperatures, buyer activity remained strong. A total of 48 contracts were executed in October, a significant 45.5% rise from the same month last year and a 17% increase from September. This uptick in buyer interest is a promising sign of confidence in the market, even as inventory begins to tighten.
Active Listings Decline
By the end of October, the county had 174 active listings, 4% fewer than last year and 17 fewer than September. Homes spent a median of 39 days on the market, reflecting steady demand. This decrease in active inventory underscores the importance of strategic pricing and marketing for sellers looking to make the most of the current conditions.
New Listings and Seasonal Cooling
Sellers brought 43 new listings to the market in October, a 7.5% increase compared to last year. However, this figure was slightly down by 2% from the previous month, signaling the seasonal cooling typical of this time of year.
What This Means for You
Whether you’re looking to buy, sell, or invest in Chaffee County, understanding these market trends is key to making informed decisions. For buyers, the strong activity and rising prices highlight the need to act quickly when the right property becomes available. For sellers, the combination of steady demand and declining inventory presents an opportunity to attract serious buyers before the year-end slowdown.
If you’re curious about what these trends mean for your real estate goals or need help navigating the Chaffee County market, reach out today. Let’s make your next move a success!
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