Market Chaffee and Lake Counties: An Insightful October 2023 Overview
Nestled in the heart of Colorado, Chaffee and Lake Counties offer a blend of natural splendor and real estate opportunity that’s hard to find elsewhere. This October 2023 market report provides an in-depth look at the core market statistics that paint a picture of current trends, aiding buyers, sellers, and enthusiasts alike to make informed decisions.
Chaffee County: A Blend of Nature and Community
Chaffee County, with its diverse landscape, is characterized by the Arkansas River’s winding paths and the towering peaks of the Sawatch Range. Salida, the largest city, sits approximately 7,083 feet above sea level…
Lake County: High-altitude Living with a Historical Twist
Adjacent Lake County is home to Leadville, the highest incorporated city in North America, perched at an elevation of about 10,152 feet…
Median Close Price
In October 2023, the median close price was $654,500, which is an increase from $634,000 in September 2023 and a significant rise from $569,000 in October 2022. This upward trend suggests a growing market, potentially favoring sellers with higher property values.
The number of active listings stood at 52 in October 2023, down from 45 in September 2023 but slightly up from 49 in October 2022. The small increase in listings year over year could indicate a more favorable environment for buyers.
The sales numbers for October 2023 were at 248, a decrease compared to 271 sales in September 2023 but an increase from 207 sales in October 2022. This points to a still-active market with more transactions occurring than the previous year.
Close Price to Original Price Ratio
As for the close price to the original price ratio, there was a slight decrease to 95% in October 2023 from 96.1% in September 2023, but an increase from 94.6% in October 2022. This could indicate that while sellers are getting closer to their asking price, buyers have had slightly more negotiating power than in the previous month.
Your Trusted Advisor
For personalized advice and insights, reach out to Christopher Gibson, a seasoned expert in the market Chaffee and Lake Counties…