Business: Listings down, home prices up in Garfield County through May
New listings for single-family homes in Garfield County were down in May, but the number of listings for townhouses and condominium properties increased, according to the latest monthly statistics distributed by the Glenwood Springs Association of Realtors.
According to the monthly report, based on data provided by the Aspen/Glenwood Multiple Listing Service, new residential listings were down 20.7 percent for single family homes. And year to date, that number is down 13.6 percent.
However, the number of new listings for townhouse-condo properties increased 71.4 percent for the month of May, and is up 6.8 percent year to date through five months over 2018.
The numbers do not include “for sale by owner” transactions or new construction, according to the monthly report.
Pending sales for the month decreased 5.3 percent for single family homes but increased 76 percent for townhouse-condos.
“An extended trend of low unemployment, higher wages and favorable mortgage rates has been a terrific driver of housing stability in recent years,” according to a summary of the national housing market included with the report. “What is different about this year so far is that prices are not rising as quickly.
“Some of the hottest Western markets are even cooling slightly, while some Northeast markets are achieving a state of recovery after a decade of battling back from recession.”
Median sales price for a single-family home in Garfield County year to date, up 6.7% compared to the first five months of 2018.
Median single-family home sales price in the Glenwood Springs area year to date, up 11% over 2018. The median price for a townhouse or condo in Glenwood has been $325,000, up 4.8% over last year.
Median sales price year to date for a townhouse or condominium property in Garfield County, up 6.2% from 2018.
Median single-family sales price year to date in Rifle.
Average number of days on the market until sale year to date for single-family homes in Garfield County; up 8.6 percent from 2018. Time on market increased 46.6% during May alone.
Average number of days on the market until sale for single-family homes in Glenwood Springs this year so far. Likewise, that number is 125 days in Carbondale and 56 days in Rifle.
Source: Glenwood Springs Association of Realtors-Aspen/Glenwood MLS
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