MID-VALLEY MARKET REPORT

MID-YEAR 2025

BASALT | MISSOURI HEIGHTS | CARBONDALE | CRYSTAL RIVER VALLEY

Last Updated July 11, 2025

Here is my recap on the Mid-Valley market as of mid-year 2025:

-    Statistically, the average sale price and average price per square foot is still rising moderately or maintaining in all areas (with the exception of Basalt single family homes) due to persistent low inventory. 
-    The average days on market is now above 100+ days (3 - 4 months) in all areas demonstrating that conditions have slowed down from the fast-paced market we saw in 2020 - 2022.
-     Absorption rates (i.e. average time to sell the current level of inventory) in all areas is 7 months or more. 
-    The percentage of current listings under contract is below 25% right now, which means that less than 1 in 4  listings are pending.
-    There’s more negotiation room on price, with a larger gap between list price and sales price compared to years passed. I personally am seeing a lot more low-ball offers from Buyers who are ready to buy but not willing to pay the prices Sellers are expecting right now, especially on older homes.
-     Overpriced listings sit on the market for a while. These end up taking a few price reductions before selling. 
-     The number of vacant land sales are down significantly. In fact, in several areas there are no land listings under contract.  This segment of the market has slowed down quite a bit, most likely due to the higher cost of land and the cost to build compared to buying existing homes.

Anecdotally, brokers’ reports of activity is mixed: slow in most areas but seeing multiple offers on rare properties, such as those on the riverfront. While sales comps exist verifying list prices, there isn’t the demand. Fewer buyers are looking right now, due to inaccessible high prices and high mortgage rates. Those in the market are mostly cash buyers or buyers looking to upgrade or downgrade by selling another property (i.e., have a home sale contingency). Many homeowners with low interest mortgages are reluctant to sell because their new loan on their replacement property will have a much higher rate. All of these factors contribute to lower available inventory and lower demand. Ultimately, Buyers are having success negotiating, especially if the listing has been on the market a while. By the same token, sellers’ expectations about the time it takes to sell have to be adjusted, as well as expectations on price. 

The under $1 million Mid-Valley market is still active but not as fast-paced as it was a few years ago.  Brand new or move-in ready luxury homes above $2.5 million seem to be in higher demand among cash buyers Mid-Valley. Yet, the majority of homes currently for sale are in between those two price ranges – a price range that is unfortunately not accessible to most working people in the Valley, especially those with financing. This is where the heart of change might be.  These folks desperately want to stay and live in the Valley and are hoping to pull values down by making lower offers.

This custom market report shows the overall trends pertaining to Basalt, Missouri Heights and Carbondale since 2004. I examine each area in more detail by looking at single family homes, condos/town homes and duplexes and vacant land. I hope you find this Mid-Valley Market Report helpful in showcasing the current market and where it has been. As always, I look forward to reporting back to you mid-year to see how things shake out.

If you are curious about your options to buy or sell in today’s market, please get in touch! Determining market value is incredibly complicated right now, so I am happy to assist in any way I can.

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