There is no doubt that there are some twists and turns in the market right now, but our 20 years of experience and top team of Brokers will help guide you through it.

Galles Properties October Market Report has just been released and has plenty of great information to sift through as we dig deep into the 2022 Pagosa Springs real estate market, how it compares to last year and what it could mean moving forward.

Market Report Highlights:

  1. Overall Market Volume in Archuleta County was down $90 Million from the same period last year, but UP $376 Million over 2019.
  2. Active Inventory was UP 65% in October compared to October, 2021, with 3.3 months of inventory.
  3. The average residential sales price of  $659,053 was up in October compared to last year.
  4. YTD sales of properties priced from $500,000 – $750,000 and over $1 Million were UP in October compared to last year.

Our Take:

We have had every reason to expect that our market would not continue at the blistering pace we saw in 2021 and have long anticipated some type of shift in the Pagosa Springs real estate market.

While inventory levels have increased, they continue to be historically low, with price levels holding somewhat steady in October, depending on the category.  That said, as always, those properties priced strategically are actively moving the “days on market” needle, while others that may be priced less aggressively are seeing less activity.

Finally, there is a reason we included 2019 on our sales chart in this report – as we believe it’s important to keep things in perspective as we look at the market today vs. pre-covid numbers.  There is an important distinction between what we considered the norm in 2019 prior to our current cycle.

We have always believed that knowledge is power, and we analyze the market on a daily basis so that we can make timely, educated pricing and marketing recommendations to our clients.

If you are interested in a custom market report created with your own criteria, please contact one of our Brokers or call 970.264.1250. We are here to help.