Chaffee County Housing Market
As the school year begins, we typically see a cool down in the Chaffee County housing market. This year was no exception. With home prices remaining high and mortgage rates increasing, buyer demand decreased in August. Buyers closed on fewer homes compared to last year and there was a 7% decrease in the number of homes that moved to the Pending status in August 2022 compared to August 2021. The Median List to Closed Price ratio in August was 98%, indicating offers submitted by buyers were less competitive compared to years prior. Sellers can expect their properties to spend more time on the market as buyers have more time to shop and less pressure to submit competitive offers quickly.