Brrrrrrrr!! Starting to get cold outside. Ski resorts are starting to open & Vail Pass had it’s 1st closure due to snow…so whether we are ready or not, winter is here. Let’s take a look at the 1st 10 months (Jan. 1-Oct. 31) of 2014 and compare to 2013 to get an idea on how the market is doing.
OVERALL- Single Family Homes *Using areas: Fruita, North, Redlands, GJ City, NE, SE, Clifton, Orchard Mesa
| Single Family Homes | |||
| Overall | 2014 | 2013 | % Change |
| # of Sales | 1893 | 1868 | 1.34% |
| Med. Sales Price | $185,000 | $179,900 | 2.83% |
| Avg. Sales Price | $213,183 | $201,455 | 5.82% |
| Med. DOM | 90 | 83.5 | -7.78% |
| Avg. DOM | 118 | 109 | -8.26% |
| Avg SP/LP | 97.47% | 97.72% | -0.25% |
Thoughts: # of sales is basically about the same. Prices are up 3-5.5%. One item to keep an eye on is the Days on Market (DOM) did regress in 2014 by roughly a week.
| 3 Bdrm Single Family Homes Comparison | ||||
|
2014 |
2013 |
2014 |
2013 |
|
|
Area |
# of Sales |
# of Sales |
Med. Sales Price |
Med. Sales Price |
|
Redlands |
115 |
123 |
$270,000 |
$280,000 |
|
North |
182 |
131 |
$229,750 |
$239,000 |
|
Fruita |
161 |
141 |
$192,500 |
$197,000 |
|
GJ City |
129 |
138 |
$153,000 |
$153,430 |
|
NE |
169 |
177 |
$169,000 |
$159,500 |
|
SE |
159 |
174 |
$149,780 |
$140,000 |
|
Orchard Mesa |
144 |
164 |
$167,500 |
$149,450 |
|
Clifton |
98 |
91 |
$126,575 |
$106,000 |
|
2014 |
2013 |
|
|
Area |
Avg. Sales Price |
Avg. Sales Price |
|
Redlands |
$330,487 |
$301,800 |
|
North |
$246,026 |
$248,915 |
|
Fruita |
$207,588 |
$203,864 |
|
GJ City |
$156,690 |
$144,255 |
|
NE |
$166,124 |
$159,245 |
|
SE |
$138,335 |
$132,006 |
|
Orchard Mesa |
$178,372 |
$156,234 |
|
Clifton |
$115,212 |
$102,836 |
|
2014 |
2013 |
2014 |
2013 |
|
|
Area |
Avg DOM |
Avg DOM |
Med. DOM |
Med.DOM |
|
Redlands |
128 |
115 |
110 |
81 |
|
North |
112 |
113 |
100 |
87 |
|
Fruita |
127 |
112 |
94 |
90 |
|
GJ City |
113 |
108 |
86 |
76.5 |
|
NE |
111 |
98 |
86 |
78 |
|
SE |
119 |
94 |
90 |
69.5 |
|
Orchard Mesa |
106 |
106 |
79 |
67.5 |
|
Clifton |
107 |
109 |
78 |
84 |
Thoughts: It appears that the Median & Average Sales Price in 2014 both rose in the areas where prices tended to be under $200K. Although in areas that were +$200K such as Fruita, Redlands & North areas, this did not hold. Another item to watch in 2015 is how the Days On Market which increased in 2014 vs 2013 affects the real estate market.
