As usual, real estate statistics in our area are interesting. This includes the five counties of Chaffee, Fremont, Saguache, Park and Lake, as represented by the Chaffee County Board of Realtors.
In Salida, housing sales from January through May 2009 dropped 39%. Year to date sales totaled 46 homes with a median sell price of $287,000 compared with the same period in 2008 when 76 homes sold at a median sell price of $263,450. Total sales volume also dropped.
Salida home sales in May 2009 were 5 compared to the month before when 14 homes sold, a drop of 36%.
For all types of real estate sold by Realtors in all areas, 174 listings closed year to date in 2009 vs. 151 sales for the same period of 2008, an increase of 6%.
Overall, inventory is high with 2071 active listings and a greater number of days on the market.
In Denver, real estate experts claim that the bottom has hit and the market is bouncing back. This is based on increasing home sales for the past four months.
The good new is the tax credit of up to $8,000 for first time homebuyers who close on a home by Dec. 1. Also, FHA loan limits hit $280,000 for Chaffee County. This requires a low 3.5% down payment.
Current interest rates remain low at 5.375% for a 30-year conventional loan.
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