The fourth quarter of 2012 was especially active and encouraging. While many potential threats to the economy lingered, the housing market clearly showed strong and continuing signs of recovery. Colorado is pointing the nation in the right direction. Inventory is improving, prices continue to rise and days on market show consistent downward trends.
Within the 81235 zip code, New (residential) Listings decreased by 75 percent and Closed Sales increased 66.7 percent. Median Sales Price softened somewhat decreasing 6.4% to $220,000 with Days on the Market remaining almost unchanged.
Economists list three primary avenues to housing recovery: better market fundamentals, improved market composition and more jobs. Many areas of Colorado are enjoying better fundamentals and less distressed activity. If job growth continues in 2013, housing should lead the way to economic recovery in our state, and our REALTOR members will enjoy a robust market with increased opportunities.
Please note that the above informaiton is based on residential properties. If you would like more detailed 2012 fourth quarter reports for all Gunnison County and Hinsdale County, please contact [email protected].
