Single-family prices up; multifamily, land prices down |

Single-family prices up; multifamily, land prices down

Garfield County real estate data continues to show slower activity levels than in years past.

While that may be the case, single-family home prices remain higher than last year. However there continue to be advertised price reductions on the homes for sale in the market place.

So what is the missing link? Land Title’s statistics strictly account for actual sold prices as reported by the clerk and recorder’s office, not list prices for properties that are on the market. That being said, compared to last year, the average Garfield County single-family home price through the month of March, as compared to the full year 2008, is up 9 percent, to $489,498 from $448,167.

All areas in the county have shown an increase in this category, with the exception of Carbondale, which is reporting a decrease of 14 percent, down to $757,990 from $879,579. The median price for single-family, however, shows an increase in all areas, up 13 percent from $372,000 to $420,000.

The story is a little different, however, with regard to multifamily and residential land prices.

Participate in The Longevity Project

The Longevity Project is an annual campaign to help educate readers about what it takes to live a long, fulfilling life in our valley. This year Kevin shares his story of hope and celebration of life with his presentation Cracked, Not Broken as we explore the critical and relevant topic of mental health.

The average price for a multi-family property, including townhomes and condos, is down 6 percent for the year from $305,239 to $287,550.

In this category, only Carbondale has shown an increase and is up 5 percent for the year to $445,880.

The median multi-family home price is down 10 percent to $240,000. Carbondale also posted the only increase in this category for the county and is up 24 percent to $465,000.

Residential land transactions, which have slowed in 2009, show a decrease in average price of 26 percent to $207,521 for the county. Rifle and New Castle, however, show increases.

The median land price also shows a decrease of 5 percent to $208,000. Rifle and Silt, however, both posted increases.

Support Local Journalism

Support Local Journalism

Readers around Glenwood Springs and Garfield County make the Post Independent’s work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Each donation will be used exclusively for the development and creation of increased news coverage.


Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User