March, 2020 MARKET UPDATE
One year change in new listings decreased 16.3%.
One year change in sold listings increased 11.6%.
Inventory levels shrank 10.2%.
One year change in median sold price increased 12.2% with a median sales price of $250,000.
Days on Market was down 10.9% to 98 days.
Month supply of inventory was 2.8 months.
As you may know, the Governor of Colorado issued a state-wide Stay-at-Home Order effective at least through April 26, 2020 that requires all individuals to stay at home whenever possible except for critical businesses. While real estate is a critical business and real estate transactions are exempt, other non-critical elements are not exempt such as in person showings and listing appointments which are considered to be marketing activities. Because of these events, the normal way of doing business has changed, however, prices are remaining stable at this time and there are still buyers looking to buy. We are fortunate to live in an area with many essential employees. I will continue to update with more information as things change and information comes available.
Contact me for your FREE market analysis, to find an experience Realtor in your area or to begin a property search for you!
Statistics based on year over year changes. These Royal Gorge Association of Realtors statistics compiled by the Colorado Assocation of Realtors.