Salida Home Sales – April 2016
Winter, and especially the first quarter (Jan-April), is usually the slowest time for the Salida real estate market. There usually aren’t many sales or buyers in the market – just lots of Realtor’s waiting for the Spring. This year is much different –the number of sales is about the same as last year, but that’s only because buyers are having a hard time finding something to buy. 27 homes have sold so far this year, 20 homes are currently under contract, leaving only 16 homes on the market. This is a 2 month’s supply at the current rate of sales (typically 6 month supply or less is considered a seller’s market).
Why all the interest in Salida?
Colorado is the 4th fast growing state, and Denver is the 6th fastest growing city in the country. There are currently about 3,000,000 people in Denver, and it’s projected to grow to 3,300,000 by 2020. While Salida’s population is about 5,500; Denver is projected to grow by 6,250 people per month for the next 4 years! Denver is adding one Salida per month, and its real estate prices are following suit (as is congestion, traffic, rent etc.). It’s reasonable to expect a lot of those Front Rangers to cash out and move somewhere close by, but a little smaller. Like Salida.
2015 Median Home Prices in a few Colorado towns:
Boulder – $685,000
Breckenridge – $629,000
Durango – $400,000
Salida – $275,000
Sources: Forbes magazine, Metro Denver Economic Development Corp., Durango Herald, Zillow, Trulia
January – April 2016, Salida Residential sales activity
Not much is available in the lower price ranges, so the majority of the activity has moved into the middle range of $250-$350,000:
7% of Salida home sales were in the under $250K price range (2 out of 27)
63% of Salida home sales were in the $250—$350K price range (17 out of 27)
30% of Salida home sales were in the over $350,000 price range (8 out of 27)
Homes with Acreage
11 homes with acreage sold in the first quarter of 2016.
Median price for a home with acreage is $348,500
Lowest price for a home w/acreage was $225,000
January-April 2016, Salida Land sales
29 vacant lots sold in the Salida area in the first quarter of 2016, up from 19.
16 of these sales were in-town (under 1 acre); median sales price was $75,500; but 2 sales were for over $145,00
For lots between 1-3 acres, there were 9 sales; median price of $72,500
For lots over 3 acres, there were 5 sales, with the median being $169,000. The most expensive lot was 19 acres near the old stock yards on the Arkansas river which sold for $1,128,000. This is the site of the proposed Sprout Tiny Homes development.
You can Click Here to see the MLS displays for all of these sales.
Post written by Mike Hawley / firstname.lastname@example.org / 719-530-1281
You can also call or text our office at 719-530-1038 or email email@example.com
Salida Home Sales, January – March 2016
|336 HUNT ST.||2||1||824||$197,500|
|18 REX CIRCLE||3||2||1414||$265,000|
|138 N. M STREET UNIT D||2||2||1143||$275,000|
|1652 K STREET||3||2||1257||$268,000|
|1824 West Third||3||2||1824||$265,000|
|17 REX CIRCLE||3||2||1524||$290,000|
|730 F ST||2||2||1202||$284,200|
|613 CHILCOTT ST.||2||2||912||$295,000|
|540 PONCHA BLVD||3||2||1212||$295,000|
|814 I STREET||3||2||1100||$301,500|
|121 M & M LANE||3||2||1570||$307,500|
|415 E. 7TH ST.||3||2||1736||$302,700|
|514A CRESTONE AVE.||3||2||1390||$317,500|
|123 STARBUCK CIRCLE||3||2||1862||$331,000|
|127 STARBUCK CIRCLE||3||2||1862||$331,000|
|146 W. FIFTH STREET||2||2||1080||$350,000|
|7560 COUNTY ROAD 120||3||2||1458||$345,000|
|130 MESA CIRCLE||3||2||1760||$338,000|
|107 W FOURTEENTH||3||2||1564||$358,000|
|514 PONCHA BLVD||3||2||1820||$345,000|
|346 CRESTONE AVE.||3||2||2244||$410,000|
|1117 I STREET||4||3||3456||$410,000|
|934 G STREET||4||3||2410||$445,000|
|536 E FIRST STREET UNIT E||3||2||1806||$459,000|
|1115 G STREET||3||3||1834||$460,000|
|536 E FIRST STREET UNIT F||3||3||1989||$469,000|
|Median Sales Price||$317,500|
|Average days on market||114|
|Average List/Sell ratio (Asking price/selling)||98%|