“Colorado Homes Showed 32% Overall Price Appreciation in 2021
New Coloradoans and the state’s stay-at-home orders during the pandemic have combined to form an unprecedented amount of growth in home values and scarcity in 2021, according to CAR’s 2021 Year-End Market Trends Report. The overall median single-family home price across Colorado went up 32% between 2019 and 2021. “In 2019, we were starting to see a plateau in the real estate market with appreciation under 5% in most areas, and homes were starting to stay on the market longer and longer throughout the year, said Kelly Moye, CAR spokesperson. “COVID happened in 2020 and the expected waning of the real estate market made an abrupt change. It appeared that many people wanted to live in Colorado but were tied to their jobs elsewhere.” Also notable, Pitkin County gained 97.5% for median single-family home sale prices, raising the price to $5.75 million for 2021. Montezuma County median single-family home price has increased 84 percent with the median price now at $390,000.”
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“Colorado Homes Showed 32% Overall Price Appreciation in 2021.” Colorado Association of REALTORS, 2 Feb. 2022, https://www.coloradorealtors.com/2022/02/02/colorado-homes-showed-32-overall-price-appreciation-in-2021/?_zs=o0E9d&_zl=b7Aw2.
Post courtesy of The Durango Team