Total La Plata County residential sales in 2008 amounted to $272,477,941. That represented a decline from 2007 of 24.8%. When I examined all sales, which would include land, commercial, farm and ranch, etc. 2008 total sales were $343,737,907 which was a decline of 30.2% from the 2007 total sales figures. The reason for the larger percentage decline is because land sales were off even more than the residential sales. For residential only sales, both the median and the average price dropped, but not significantly... less than 1 1/2% each. The 2008 average residential sales price was $398,942 while the median residential sales price was $333,500.
People always ask me what is selling what is not? In my analysis of the 2008 sales I created six price bands to review. There is the under $200,000, the over $1 million, and then everything else in between by $200,000 market segments. The most active market segment was the $200,000- $399,000 where 358 units were sold out of a total of 683. One thing to pay attention to, is the fact that 18 units priced under $200,000 were sold in the Silver Peaks Condominium project which represents more than 20% of all of the sales in that price
bracket. In the $200,000-$400,000 price bracket, 38 silver Peaks Condominium's were sold which is just a bit over 10% of all of those sales. The next most active price range was the $400,000 - $599,000 where 157 units were sold. The $1 million and over market is quite a bit slower this year, with only 15 closed transactions. Team Lorenz was quite privileged to have been involved in two of those sales. Single largest residential sale this year was for $7,100,000 in the Celadon Development located on 70 acres in the Animas Valley.
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