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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