Year to Date MLS Stats for Residential Properties in Pagosa Springs

I hadn’t run any stats lately so I was pleasantly surprised by what I found this week when I went to our Year-to-Date Comparison Report in our CREN MLS. With all the doom and gloom in the local real estate markets, I found some interesting numbers for Pagosa area Residential Properties. Below you will see how our housing market is doing in relation to this time last year – and how we are doing compared to our CREN (Colorado Real Estate Network) Regional MLS which covers a huge area from Grand Junction to Cortez/Durango to the San Luis Valley (East of Pagosa Springs). Actually, Pagosa Springs is doing very well compared with our neighboring communities. Sure, everyone is down from last year, but surprisingly Pagosa Springs is down the least of all.

Where the number of Residential Units sold is concerned, the whole of the CREN MLS is down by 26% (many communities were down by over 30%) the Pagosa Springs MLS is down only 10% from this time last year.

Pagosa Spring’s total Residential Volume was down only 6% from last year while CREN was down 25%.

Now, our average sales price for Residential Property was actually up by 5% while CREN was up only 1%.

However, our median sales price was down by 8% (CREN did not have figures for this).

Here is the raw data for those that are interested:

TOTAL – RESIDENTIAL -  Pagosa Springs
Residential            Qty Sold    % Chg    Volume Sold    % Chg    Average Sale    % Chg
Current Period         237                        77,413,655                    326,639
One Year Ago          264                        82,209,884                    311,401
Increase/(Decr)       (27)         -10%       (4,796,229)     -6%          15,238             5%

TOTAL – RESIDENTIAL – CREN  (Grand Junction,Delta,Durango,Cortez,Montrose,Pagosa Springs,San Luis Valley)
Residential          Qty Sold    % Chg    Volume Sold       % Chg    Average Sale    % Chg
Current Period      4,567                     1,168,809,888                 255,925
One Year Ago       6,161                      1,554,674,404                 252,341
Increase/(Decr)    (1,594)    -26%        (385,864,516)    -25%         3,584               1%

So, yes we are down in the number of residential sales and residential volume for the 3rd year in a row. But being the optomist that I am, I am beginning to see a floor for the Pagosa Springs real estate market. The downward sprial is slowing and compared to many of our neighboring communities, we aren’t doing so bad.

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Posted by Jim on Oct 16 2008. Filed under Real Estate. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.