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Home sales in Salida rose to 12 for the month of November compared to 7 for the previous month.  Homes sales for the same period a year ago were 7 for November and 11 for October.

For the past year from December 1 2008 to November 30 2009, home sales in Salida were 121 with the average sales price of $291,209 and the median sales price of $271,500.  Average sales to list price was 95%. Days on the market was 214.

For the same period a year ago, 168 homes sold at an average price of $297,168 and a median sales price of $254,500.  Average sales to list price was 95%.  Days on the market was 162.

The sale of residences for the area covered by our Multiple Listing Service, which includes Fremont, Chaffee, Lake, Park and Saguache counties, for December 1 2008 to November 30 2009 totaled 344 with an average sale price of $243,114 and a median sale price of $215,500.  Days on the market was 203.

This compares to the same period a year ago when sales totaled 463 with the average sale price of $220,000 and the median sale price of $266,325.  Average days on the market was 188.

In summary, for Salida, sales are up even though prices are down slightly and homes sit for longer.  In the area, sales are down and houses spend longer on the market. 

It's common to read residential statistics.  However, in the country (I refer to people who live in Salida as "urbals," i.e. urbanites living in a rural area), it is important to track the sale and inventory of land. 

Like the housing market, there is a big supply.  Definitely a buyers' market, the price categories reflect the amount of inventory.  From December 1, 2008 to November 30, 2009, 59 lots sold.  Currently, there are 296 lots on the market, which is a 5+ year supply.  Here's how it breaks down:

Category 1:  .01-.9 acres, 29 parcels sold, 64 are for sale=2+ year supply.

Category 2:  1-5.9 acres, 16 parcels sold, 120 are for sale=7.5 year supply.

Category 3:  6-34.9 acres, 7 parcels sold, 39 are for sale=5.7 year supply.

Category 4:  35-50 acres, 4 parcels sold, 37 are for sale=9.25 year supply.

Category 5:  51+ acres, 2 parcels sold, 6 are for sale=3 year supply.

The biggest seller is the smallest size lot, which would be in town.  Even riverfront property has a supply of 4.75 years.

Statistics compiled and interpreted by Leslie Walker, CRS, GRI, Broker/Owner, Salida Realty, leslie@buysalida.com, 719 539 1031

A client asks, "What needs to happen for my land to sell?"  Good question!  Land, like houses, has many facets:  location, terrain, mountain views, building sites, price, access, utilities.  But, few of these - except price and utilities - can be changed.  It is like remodeling a house.  You never get a return on investment, but it helps to sell it. Does it make sense to drill a well?  It can be expensive, but it gives buyers a sense of security.  Is it important to provide electricity to the land?  Some people like living off the grid; for others, it's no electricity=no deal!  Can a property be divided?  The planning department knows.  Does it have covenants? 

Here are vacant land statistics for Salida:  There are currently on the market 297 parcels.  From Nov. 2008 to Oct. 2009, 59 pieces sold; from Nov. 2007 to Oct. 2008, 89 pieces sold; from Nov. 2006 to Oct. 2007, 103 pieces sold; from Nov. 2005 to Oct. 2006, 141 pieces sold; from Nov. 2004 to Oct. 2005, 97 pieces sold.

In the early 2000s, there was little land for sale, and developers got busy!  The result is a 5 year supply.  Overall, it is a buyers' market.  However, within that inventory, there are pockets where it is a sellers' market. 

How's the market in Salida?  It depends!  If you look at the number of homes for sale in the area encompassing Coaldale, Howard (western Fremont County), Salida, Nathrop, Buena Vista and Turret (all Chaffee County), there is a supply of nearly two years (1.89 years).  That's from homes sold from November 2008 to November 2009 compared to those on the market.

Yet, if you break it down, there is actually a sellers' market in the range of $85,000-135,000.  It is a small part of the market at 6%, but one could expect fierce competition to buy.  All other categories are buyers' markets.  The normal market is six month's inventory. 

Another interesting fact is that the largest percent of the market is homes between $210,000-315,000 at 40%.  Next are homes between $315,000-460,000 at 22% and homes at $135,000-210,000 at 21%.

In the Salida area, it is both a buyers' and sellers' market!

A frequent question is:  Who is moving to Salida?  Based on land sales in the past 4 months, the answer is that 52% are buyers from Colorado.  The top areas within the Mile High State are the Front Range (46% of buyers from within Colorado), Boulder area (13%), Colorado Springs (13%), then a smattering of cities from around the state.

After Coloradans, 20% of buyers were from Texas.  Their neighbor Oklahoma was third highest at 6%.  The numbers are ones and twos after this with folks from around the country. 

These numbers are consistent with my 9 years of selling experience in Salida.  However, I would have expected more interest from California, New Mexico and Florida. 

A. T. Henry Block

This two-story contributing brick building occupies one of Salida’s most eligible corners at 102-104 North F Street. Built in 1886, the Salida Weekly Mail wrote: “…we admire the push and pluck of Salida. She is coming up out of her ashes. She is building up the place made waste by the destructive fire of last spring, building fine substantial business blocks, of brick, where before there stood wooden rows to invite the fury and greed of devouring flames. Among these and almost completed is the bank block of Mr. W.E. Robertson,” president of Chaffee County Bank, who was the first occupant. It later

housed a stationery and insurance company, drugstore, barber shop, restaurant, and “a first-class gentlemen’s resort” (saloon). Its captivating features, which include unique beveled corners, saw tooth molding, scroll brackets and column/pilasters topped by ornamented capital structures, have been neglected for a decade or more. Local investors recently purchased this gem and have begun renovation. What’s next for this beauty?

For more information about historic properties in Salida, CO, visit www.buysalida.com.

In August, home sales increased, up from 8 in July to 11 in August.  The median home sales price was also up, from $239,000 in July to $272,000 in August.  Year to date in Salida, home sales total 75 compared to 116 for the same period a year ago.

In the five-county area covered by the Chaffee County Board of Realtors, sales total 349, which is down from 498 for the same period a year ago.

Inventory for all areas is 2096 properties, down from both July and June.

My e-newsletter publishes real estate statistics each month.  To subscribe, contact leslie@buysalida.com. 

Leslie Walker, Broker/Owner, Salida Realty Company

 We've celebrated our three biggest festivals of the summer:  FIBark, Artwalk and 4th of July.  The town is filled with kayaks, canoes, boaters and dogs during the boating going-ons.  "First in Boating on the Arkansas" draws about five thousand competitors from around the world, as it is an international event!  The weekend rocks with bands, play-hole tricks and stick chasing in the Crazy River Dog Contest. My favorite is the "Pet and Pedal" parade with kids on bikes and dogs dressed up!

Next comes Artwalk, when all the galleries feature their best works, demos and snacks.  The weekends sort of run together - was that the one with Shakespeare in the Park?  

Stars and stripes lit up the sky on Independence Day.  Bands, vendors, parade BBQs and fireworks - lots of small town stuff.  Now, we await the beer festivities! - Leslie Walker, your voice of the Valley. 

P.S.  Check out Estes Bark's latest blog!