(Gunnison, Crested Butte and Lake City areas 2014 to 2015)
New Listings were up 10.5 percent (Lake City: down 52.9 percent) for single family homes and 6.3 percent (Lake City: down 50 percent) for townhouse-condo properties. Pending Sales decreased 78.6 percent for single family homes and 95.2 percent for townhouse-condo properties.
The Median Sales Price was down 0.5 percent to $338,400 (Lake City: $220,000) for single family homes and 22.7 percent to $218,500 (Lake City: no change) for townhouse-condo properties. Days on Market decreased 24.8 percent for single family homes but increased 39.9 percent for condo properties.
Interest rates are an area to pay attention to as rate hikes are widely expected before the year ends. The Federal Reserve Bank has skipped two opportunities to raise rates this fall, but the final meeting in December will likely include a minor rate hike. Although we are headed into a slower time of year, as housing activity goes, there are still many nuggets of optimism to mine from monthly figures.
