The 2021 market continues to be very strong without any signs of slowing down. Even as interest rates start to creep up, buyers are not backing down and inventory remains at all time lows. The pent up buyer demand has been resulting in multiple offer situations becoming a common-day occurrence. In fact, residential homes moved quickly, only spending a median of 8 days in the MLS in January which is 40 days less compared to last year and 1 day less compared to last month.
- Routt County had a total of 133 transactions in January, up from 72 YoY for an increase of 85%, and $69,301,975 in total sales (up 36.6% from 2020).
- Of the 133 transactions, 64 were local buyers, 33 were front range and 36 were from out of state.
- There were 67 residential transactions in January 2021 with a gross volume of $49,697,213.
- The average residential price was $741,749 with an average PPSF of $473.
- There were 5 new unit sales in January with an average price of $894,063.
- There were a total of 250 loans in January 2021, with 44% of purchasers closing with financing at the time of sale, and with 56% closing with cash.
- There were 195 refinances.
- The top-priced improved property sale was for $2.5M and the top PPSF sale was for $889.62.