OVERVIEW: Inventory remains much lower than this time last year but the number of properties sold, year to date, is off by only about 0.6%.
The average sold price, at $838,000 for all residential properties, has increased by 3.2% from this time last year.
The demand for mountain properties seems to be gaining momentum as we approach ski season. The increased ability to telecommute is also having an impact on sales.
Single Family Sales: Through August, the average single family sold price was $1,343,000, slightly less than this time last year. Average days on market equals 75 and the average price per square foot is $439. There is currently a 3.5 month supply of inventory, which is down 49% from this time last year! The percent list to sold price is holding up well at 97.4%.
Multi Family Sales: The average sale price of a multi family type property ended August at $621,000, up about 8% from this time last year. Average days on Market equals 64 and the average price per square foot was $523. Currently, there is a 3.8 month supply of inventory, down almost 39% from last year at this time. The percent list price to sold price is currently 97.6%.
As Always: If you would like details on specific towns, subdivisions or complexes, please let me know. I’m here to answer questions or to assist in any other way! Stay healthy!