Salida Real Estate Market – Sales and Trends

Salida Real Estate Market Update- 2018

There has been a lot of activity in what is usually a pretty quiet time of year in the Salida area. During the first quarter of 2018 (January – March), 38 homes sold in the Salida area ranging in price from $122,000 to $845,000. What’s even more striking is how many homes are under contract – as of the beginning of April, there are 60 homes under contract out of a total of about 112 listings; and the majority of the homes that aren’t under contract are in the over $500,000 price range. We’d love to help you buy a home in the area – if you have any questions or would like more information about what’s going on in the Salida real estate market please email Colorado Mountain Realty or give one of us a call!

April 2018 – Active vs. Under Contract Listings

Under $300,000 $300-$500K $500+
Active Listings 8 19 32
Under Contract 24 25 11
Total 32 44 43
% of listings that  are

 under contract

 

75%

 

57%

 

16%

Last year (2017),  209 homes sold in the Salida area (Salida and surrounding areas); 122 of these sales have been in town, the rest either homes with acreage or homes in Poncha Springs or Maysville.  The Salida median home price in 2017 has risen to $356,000, compared to $331,000 in 2016.  Part of the increase is due to increased demand, and part may be due to an increase in the sales of newly built homes which tend to be more expensive than older homes.  There was a slight decrease in the total number of homes sold, this is due to a lack of inventory in the area.

Why all the interest in Salida?

Colorado is the 4th fast growing state, and Denver is the 6th fastest growing city in the country. There are currently about 3,000,000 people in Denver, and it’s projected to grow to 3,300,000 by 2020. While Salida’s population is about 5,500; Denver is projected to grow by 6,250 people per month for the next 4 years! Denver is adding one Salida per month, and its real estate prices are following suit (as is congestion, traffic, rent etc.). It’s reasonable to expect a lot of those Front Rangers to cash out and move somewhere close by, but a little smaller. Like Salida.

Salida In-Town Sales 2017 – Details

See which homes sold in Salida in 2017

It’s hard to believe that just a few years ago only a handful of homes sold for more than $300,000; and now that’s counting as the lower range!  The following 3 links take you to the the MLS display for homes that sold in Salida in 2017 and include photos and full property details.  This is a good place to start if you’re curious about what you can get for a certain price in the Salida area, the links include sales in Salida as well as Poncha Springs an Maysville.

Salida Market Update – 2016

In 2016,  243 homes sold in the Salida real estate market (Salida and surrounding areas); 138 of these sales have been in town, the rest either homes with acreage or homes in Poncha Springs or Maysville.  The Salida median home price in 2016 has risen to $331,000, compared to $281,000 in 2015.  Part of the increase is due to increased demand, and part may be due to an increase in the sales of newly built homes which tend to be more expensive than older homes.

16% of Salida home sales were in the under $250K price range (18 out of 106)
49% of Salida home sales were in the $250—$350K price range (54 out of 106)
35% of Salida home sales were in the over $350,000 price range (37 out of 106)

Salida Real Estate Market Update, end of year – 2015

2015 was another busy year for the Salida real estate market. Compared to 2014, there were a similar number of home sales (185 vs. 186). but the median price rose from $250,000 to $275,000 due to a lack of supply.

The median price for a home in Salida has climbed from $250,000 in 2014 to $275,000 in 2015. This is a 10% gain from 2014, and almost 24% higher than the low of $211,000 in 2011. It’s now more of a seller’s market – at the beginning of the year there were 42 homes for sale in town,  which is just over 4 months supply (so if no new listings come on the market and home sales continue at the current rate, there will be no homes for sale by April). While this probably won’t happen, it is a good indicator of the overall market and what’s driving prices.  Good deals sell fast these days!

2015 Salida Real Estate Market  – Recent Sales

Residential (In-Town) Sales:
138 homes sold in Salida
Salida’s Median home price for 2015 was$275,000
Average price per square foot in Salida= $177
There are currently 42 homes for sale in town

Homes with Acreage:
48 homes with acreage sold.
Median price for a Salida home with acreage in 2015 was $375,000.
There are currently 45 homes with acreage for sale.

Our Salida Real Estate for Sale page has all of the current homes for sale in Salida

2015 Salida Real Estate Market – Salida CO Land Sales

Salida tends to suffer from a chronic lack of of land for sale within the town, and an over-supply of 2+ acres within a 10 or 15 mile radius of town.  The addition of Crestone Mesa helped with the supply of in-town lots.   Located on the west side of Salida about 2 miles from downtown, Crestone Mesa,  added about 50 lots. Most of these sold in the $65 – $80K price range, but the new homes / duplexes being built will be listed for over $300,000. Several other new subdivisions are being considered, but there probably won’t be anything to keep prices under $300,000.

In-Town (under 1 acre): 47 lots under 1 acre sold in 2015, and there are currently 23 for sale; which is about 6 months supply.  Median price for 2015 was $74,000.

38 Lots of over 1 acre sold in the Salida area in 2015.  The average price for a lot was $72,500.  There are currently 100 lots for sale, which equates to almost 3 years worth of supply.

Search Land for Sale in Salida at our Salida Land for Sale page

Salida Real Estate Update – 2014

In 2014, we saw the busiest year for real estate sales in Salida since 2007.  185 homes sold in the Salida area, about 75% of these were in town.  The median price for a home in Salida rose to $250,000; a record high.  Use the links below to browse through recent sales in Salida – these include all in-town home sales in 2014.  The link above this post will take you to January 2015 home sales in the Salida area.

Recent home sales in Salida –

  • 33 Homes sold for under $200,000
  • 57 Homes sold in the $200 – $300,000 price range
  • 49 Homes sold for over $300,000

Looking at all sales in Chaffee County (Land+Homes in Buena Vista, Salida and surrounding areas)-

There were 745 transaction with a total $ volume of $171,961,547

This is an 18% increase from 2013.

The following link from Chaffee County Title & Escrow has more detailed information on total sales volume in 2014 and previous years –

Chaffee County Real Estate Sales

October 1, 2014 – Salida Real Estate – Third Quarter update (January – September, 2014)

The Salida real estate market is returning to (and in some cases exceeding) pre-recession levels.  The median price for a home in town is at a record high of almost $250,000.  More homes sold in the 3rd quarter than any other quarter since 2007.  Much of the activity is in town, in the lower price ranges – this year 52 homes sold for under $250,000; there are currently 14 homes for sale in Salida in this price range, and 5 of these are under contract!

Here’s a breakdown of number of sales by price range:

In-Town

  • 52% of homes sold for under $250,000
  • 34% of homes sold in the  $250 – $350,000 price range
  • 13% of homes sold for over $350,000

Salida Real Estate Sales in 2013

2013 was a busy year for Salida real estate sales.  Many new listings received multiple offers and sold within weeks.  In Salida, the number of sales, total dollar volume and median price were all higher in 2013 than any year since 2007.   Even the typically quiet 4th quarter saw 50  sales,  which is more sales than any other quarter (except Q3 of 2013) since 2007.  After several years of slow growth and recovery, the market appears to be much stronger and improving.  It’s about time!

Below are some interesting notes about the Salida Real Estate market in 2013:

Median Price for a home in Salida was $228,000; up from $227,500 in 2012

177 Homes sold in and around Salida in 2013; compared to 141 in 2012

Average market time – 167 days

80% of sales were under $350,000

Total real estate sales (all homes and land sold in 2013) in Chaffee County was $145,610,249.  (Which is probably only about 2 homes in Aspen…)

2013 Salida Residential Sales includes address, MLS number, list price and sales price.  Call Colorado Mountain Realty at 719-530-1038 or email office@mysalida.com  and we can send you a link to all of the MLS displays including photos and detailed information for each home that sold in Salida in 2013.

 Overall Market – Chaffee County Combined Residential, Land and Commercial

Here is some information provided by Central Colorado Title & Escrow showing total sales volume in Chaffee County.  This includes all land, residential and commercial sales in Chaffee County:

Number of Transactions increased by 16%, Dollar Volume by 19% in 2013 from 2012

Average price per transaction increased from $222,300 to $228,500 in 2013; increase of 2.8%

October 2013 – Highest single month dollar volume since June 2008

2012 2013
# Trans $ amount # Trans $ amount
Jan 25 4,628,700 30 6,414,650
Feb 33 9,916,100 26 4,848,600
March 35 9,938,400 40 7,592,700
1st Qtr Total: 93 24,483,200 96 18,855,950
April 53 12,070,500 52 13,805,600
May 47 10,179,760 65 16,381,999
June 43 8,717,000 45 9,988,500
2nd Qtr Total: 143 30,967,260 162 40,176,099
July 56 10,620,000 65 15,066,200
Aug 50 11,899,725 74 16,292,800
Sept 48 11,165,200 56 11,423,900
3rd Qtr Total: 154 33,684,925 195 42,782,900
Oct 53 10,993,000 69 18,863,700
Nov 57 13,293,299 55 12,168,100
Dec 49 8,623,615 60 12,763,500
4th Qtr Total 159 32,909,914 184 43,795,300
Annual Total 549 122,045,299 637 145,610,249

Read the entire report showing sales back to 2006 – 2013 Sales Report CCTE

2012 Salida Real Estate Market Update

Here is some information for Salida Real estate trends and a market overview for Salida CO including recent sales of homes and land in and around Salida, CO for 2012.  These trends are useful in showing the overall market, but not as useful for determining how much to buy or sell a certain home…if that’s the case please contact us and we’d be happy to help!

The total volume of  real estate sales in Chaffee County ($ amount, including land and homes that sold in Salida, Buena Vista and Nathrop) increased again, from $102 Million in 2011 to $122 Million in 2012.  This represents the highest sales volume in the area since 2008!

The median price for a home in Salida was $227,500; up 7% from 2011’s median price of $211,000.  Here’s some more information on sales in 2012:

Salida Real Estate Market  – residential sales in 2012 (not including homes w/acreage):

Total Sales – 102
Median Sales Price – $228,750
Average Sales Price – $235,155
Average days on market – 219
Lowest price (mobile home w/out land):  $8,500
Lowest price for a site built home:  $110,000
Highest price:  $509,000
Total sales volume:  $23,985,802

Click Here to see the MLS display with photos and detailed information for all homes that sold in Salida in 2012.

The median price for a home in Salida for 2012 was about $245,000 (this includes residential and homes with acreage) – up 10% from 2011.

The number of sales was up 10.9% compared to 2011
The total $ volume was up 18.5% compared to 2011
Best year in $ volume and transactions since 2008!

This link Salida Real Estate Sales in 2012 is to a report prepared by Central Colorado Title and Escrow showing the total number of real esate sales and total dollar volume for real estate in Salida and Chaffee County from 2005 through 2012.  This report is interesting because it lets you compare real estate sales by month and quarter for different years; also shows overall market trends for real estate in Salida and Chaffee County.

Fourth Quarter Market Overview – Salida Real Estate Trends

This link is to more detailed information about Salida Fourth Quarter Sales and Buena Vista CO Fourth Quarter Sales

Vierw the full Report prepared by 10K Research and the Colorado Association of Realtors for recent sales in Chaffee County – 4th quarter 2012 –

The fourth quarter of 2012 was especially active and encouraging. While many
potential threats to the economy lingered, the housing market clearly showed
strong and continuing signs of recovery. Colorado is pointing the nation in the
right direction. Inventory is improving, prices continue to rise and days on
market show consistent downward trends.
New Listings decreased 0.7 percent to 139. Pending Sales were up 16.9
percent to 104. Inventory levels shrank 10.1 percent to 700 units.
Prices rallied higher. The Median Sales Price increased 5.0 percent to $205,000.
Days on Market was down 19.8 percent to 182 days. Absorption rates improved
as Months Supply of Inventory was down 25.8 percent to 17.3 months.
Economists list three primary avenues to housing recovery: better market
fundamentals, improved market composition and more jobs. Many areas of
Colorado are enjoying better fundamentals and less distressed activity. If job
growth continues in 2013, housing should lead the way to economic recovery in
our state, and our REALTOR® members will enjoy a robust market with
increased opportunities.

For a more detailed look, we also have a report prepared by 10K Research and the Colorado Association of Realtors – Here’s a link to it – 2012 Stats
Research recent sales and sales trends in Salida CO Real Estate here.  As always – don’t hesitate to Contact Me if you can’t find what you’re looking for…

2011 Sales Information and Trends

Salida CO Median Sales trends graph
Median Sales Price trends in Salida CO

The median price for a home in Salida, CO climbed steadily for several years and peaked at just over $247,000 in 2009.  Since then it’s come down by about 10% and seems to have leveled off around $225,000 in the last year and half.  The good news for buyers (and bad news for sellers) is the number of homes on the market is about the same as in 2007 while the number of sales has declined by almost 25% since 2007.  So with the right local Realtor (me for example) – you can find some pretty good deals in the area.

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