Pagosa Springs Market Update Statistics - 2012

 

Some really BIG news for January 2012 is that property tax bills for 2011 taxes are significantly DOWN from the past few years. Because we pay taxes in arrears and the valuation cycle lags real time by multiple years, we have been caught in a trap of high property taxes as property values were going down. The cycle has finally turned and I'm expecting the lower taxes to help sales this year, especially for vacant land parcels, which were impacted more than homes.

 

monthly home sales

 

Volume of home sales remained depressed but steady in 2011, with the average selling price a bit higher than in 2010, at least for this focused market segment that I track. This mid-market segment of 3 bedroom, 2 bath, 2-car garage homes that have central water and are not mobile homes or modulars does filter out most of the foreclosure market. Of the 108 bank-owned foreclosure home sales in Archuleta County during 2011, only 7 were in this focus group. Condo/ townhome sales were up in volume but still down in average price. See the 2011 Market Update Archives and Home Sales 2011 for more sales data.

 

Residential Sales 2004-2011 Average Price

 

See the 2011 Market Update archives for vacant land sales data.