Overall 2013 proved to be a good year for housing.  Home sales and prices were better than the previous year in Colorado and across much of the nation.  Foreclosures in Colorado continued to decline, along with the number of homes for sale and the number of days it took to sell a home were also lower.  Multiple-offer situations became commonplace again and prices in many areas rallied to multi-year highs.  This, of course, varied by location and market segment, but the proverbial glass appeared to be more than half full throughout the year.

Within the 81235 (Lake City) zip code, New (residential) Listings increased by 27.8 percent and Closed Sales increased slightly by 4.8 percent.  Median Sales Price for single family homes increased to $298,500 with Days on the Market also increasing to 303 days.  The Percent of List Price Received remains virtually unchanged at 90 percent.

Housing is fortified by confident consumers and good jobs.  2013 was marked by a slowly improving labor market and a stock market up nearly 30 percent from this time last year.  Interest rates remain low (but moving up and prices are still affordable).  It’s no wonder that buyers were active in 2013.  Here’s to more of the same in 2014.

Please note that the above information is based on residential properties.  If you would like more detailed 2013 fourth quarter reports for all Gunnison County and Hinsdale County, please contact info@hallrealty.net.