Chaffee County Housing Market
Buyer demand pulled back in July as prospective buyers took a closer look at their finances given today’s home prices and higher interest rates. The number of July closings was lower than both last July and last month throughout the county. Although still higher than we saw last July, the median amount buyers paid for a home was 4% lower than last month, which is a sign that home prices are stabilizing. The number of listings that are currently pending sale was 27% lower than last year and 20% lower than last month. Those listings took longer to move off the market, indicating August will bring continued declines.
On a positive note, sellers continue to bring more new listings to the market, giving buyers more choices. At the end of July there were 177 listings actively available for sale, which is 127% more than July 2021.
If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.
