MID-VALLEY MARKET REPORT

YEAR-END 2023 + Current activity

BASALT | MISSOURI HEIGHTS | CARBONDALE | crystal river valley

Last Updated January 6, 2024

Here is our recap on the Mid-Valley market as of year-end 2023:

Statistically and most importantly, the average sale price and average price per square foot continues to rise in all areas due to persistent low inventory. The average days on market is now above 100 days in all areas demonstrating that conditions have definitely changed from the fast-paced market of the pandemic and post-pandemic. Absorption rates in all areas are 5 months or more. We are settling into a slower pace. We are seeing a little more negotiation room on price, with average percentage of list price received now somewhat relaxed in most segments. The number of sales in all areas is down (again, due to low inventory). Our typical seasonality dictates that we’ll see a rise in inventory in the Spring and Summer months and a subsequent rise in sales in the Summer and Fall.

The demand for new construction and move-in ready homes continues. Vacant land sales have slowed considerably compared to the past few years, due to the rise in interest rates and construction costs. We continue to see overpriced listings sit on the market for a while. These end up taking a few price reductions before selling. While we want our sellers to obtain the highest sale possible, we also encourage flexibility if the market doesn’t respond to the price we have set.

This custom market report shows some variation among areas, yet also establishes the overall trends pertaining to Basalt, Missouri Heights, Carbondale and the Crystal River Valley since 2004. We hope you find it helpful in showcasing the current market and where it has been.

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 we are happy to assist in any way we can.

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