Chaffee County Housing Market
September 2022 is very similar to the market Chaffee County saw in 2021, as well as the pre-pandemic market in 2019. Home prices remain strong, driven by 11 closings in the $700-800,000 range and 10 closings of homes priced above $800,000. The number of sales was down just slightly, while the number of new listings was higher than we saw last year, giving buyers more choice. With more inventory on the market and higher mortgage rates, buyers are taking longer to write contracts on properties, which pushed Days in MLS up. In September, the average closed price was 7% lower than the average list price, indicating buyers are looking for deals and sellers are open to negotiating. Sellers should be prepared for their properties to spend more time on the market, and they should work with their REALTOR® to price their homes competitively to get the attention of buyers who are less likely to compromise as more inventory becomes available.