Average Residential Prices Continue to Climb
Average residential prices in Garfield County continue to increase. The average price for a single-family home in 2006 was $391,585, while the average price through July 2007 has climbed to $433,259, an increase of 10.6%. Prices for vacant land have also shown an increase. The average price for vacant land sales in 2006 was $184,228. The average price through July 2007 is $215,488, an increase of 17%. Garfield County continues to defy the trends in the national real estate market by showing increased volume, transactions and appreciation rates. An informal poll of local Realtors and lenders indicates that the desirability of Garfield County, the continued growth in the western end of the county, and the continued shortage of inventory are the major contributing factors to our unique market.
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