Real Estate Market

We are here to meet all your real estate needs in the Pagosa Springs area. Our team of eight real estate professionals has the knowledge, resources and experience that are unmatched in the area.

We created this newsletter to provide you with market information and real estate topics pertinent to Pagosa Springs. When you need additional information we are here to help you out.

Our proven marketing and sales techniques utilize accurate and timely market information, exceptional customer service, and effective strategies resulting in sound advice and success for you.

We are your source, we are The Pagosa Source. Enjoy this information and we will see you soon!

Mike Heraty, Managing Broker, Owner

and the TEAM at The Pagosa Source

Real estate trends in 2006 for the Pagosa Springs area were unusual and less predictable than previous years. Total Closed Sales Volume was just over $212,000,000, as compared to nearly $310,000,000 for 2005, a decline of 31.6%. Total Unit Volume for 2006 was 796 versus 1502 for 2005, a decline of 47%. While the total dollar volume and number of units were down significantly, both the Average Selling Price and Median Selling Price were up over 2005. The Median Selling Price was $181,000 for 2006 as compared to $131,100 for 2005, while the Average Selling Price for 2006 was $266,700 and $206,251 for 2005. It is worthwhile to look back at 2004 for more comparisons. Total Closed Sales Volume for 2004 was $199,000,000, not far behind last year; while Total Unit Volume was 1331, substantially above the total number of transactions for 2006. It is also interesting to compare the median and average selling prices. For 2004, the Median Selling Price was $67,250 as compared to $181,000 for 2006, while the Average Selling Price was $149,413 for 2004 as compared to $266,734 for 2006. This is a 43% increase. We collect and analyze local trends to develop a marketing strategy and create guidelines that we use to create successful tactics in our market. The figures indicate that there has been a decline in the number of transactions and total dollar volume while the median and average selling prices have increased considerably. Declining numbers may be due to decreasing number of buyers from the historically targeted audiences that can still afford to invest in our real estate. The good news: for owners that are considering selling, the values are rising.

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