As we step into 2025, the Chaffee County real estate market is showing some interesting trends. While the number of new listings has slightly decreased compared to last year, buyer activity remains strong, and home prices continue to rise. Here’s a closer look at what’s happening in our local housing market.
Market Overview
141 Active Listings
42 New Listings (7% decrease year-over-year, but 17% increase from last month)
31 Pending Sales (35% increase from December)
26 Closed Sales (44% increase year-over-year)
$689,000 Median Closed Price (10% increase from last year, 7% decrease from December)
57 Median Days on Market (over a month faster than last year)
24 Weeks of Inventory
Buyer Demand Grows Despite Fewer New Listings
Although fewer new listings came on the market in January compared to last year, the number of homes going under contract jumped significantly. Pending sales rose 35% from December, showing that buyers remain active despite inventory challenges.
Additionally, the median days on market dropped significantly—homes are selling over a month faster than they did in January 2024. This means well-priced properties are moving quickly, and buyers should be prepared to act fast when they find the right home.
Home Prices Hold Strong
The median closed price of homes in January was $689,000, reflecting a 10% increase from last year. However, prices dipped slightly (7%) compared to December, suggesting some seasonal adjustments. This price stability indicates that the Chaffee County market remains attractive to both buyers and sellers.
Breakdown by Property Type
Single-Family Homes: Prices rose 43% year-over-year, with a notable 11% increase from December. However, new listings in this segment saw a 30% decline compared to last year.
Condos/Townhomes/Multi-Family: Median prices increased 13% year-over-year and 21% month-over-month, showing strong appreciation. The number of new listings in this segment surged 91% from last year and 40% from December, bringing more opportunities for buyers interested in attached homes.
What This Means for Buyers and Sellers
For Buyers: The market remains competitive, especially for well-priced homes. Be ready to move quickly and work with a knowledgeable real estate professional to navigate the fast-paced conditions.
For Sellers: With homes selling faster and prices remaining strong, this is still a great time to list your property. Proper pricing and presentation will be key to attracting motivated buyers.
Looking Ahead
As we move further into 2025, we’ll be watching how interest rates, economic conditions, and seasonal shifts impact the market. For now, Chaffee County continues to see solid demand and steady appreciation, making it a dynamic time for both buyers and sellers.
For more details or personalized insights on buying or selling in Chaffee County, reach out to Shawn Allison 303-521-5161 or Shawn@FirstColorado.com
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