Puebloans showed no letup in their quest to buy a house in January. Building on gains from last year home sales in January were up 7.8 % by dollar volume and 19.9% by unit volume compared with a year earlier, according to the Pueblo Association of Realtors.
Here lies the problem though: The supply of available homes continued to tighten. A separate report estimated that Pueblo County started the year with a two month supply of available homes, down from 2.8 months a year ago and less than half the five month supply that industry analysts say is preferred. What does this mean? It means that if you are a home owner and thinking of selling your home, NOW IS THE TIME! The market is favoring SELLERS right now.
Last month, 163 homes changed hands, up from 136 a year earlier, according to the Realtors group. For homes valued at $200,000 or more, there were 43 sales, up from 35 in January of 2016.
Last year, Pueblo area home sales hit $426 million, the first year that homes topped the $390 million mark since 2006. Buyer snatched up 736 homes priced at $200,000 or higher. This is more than triple the number of higher end homes sold in 2011.
Give me a call at (719) 671-1811. Let me show you how much your home is worth in today’s market.