Mesa Verde Real Estate Report - Sales Remain Hot | Blog

The Mesa Verde real estate sales update was just issued for July 2015. The numbers are in! July has proven that the Mesa Verde Real Estate Report- Sales Remain Hot – sales market continues to roll along. I always get the “how’s the market?” question when I speak with people. The market is strong, and very healthy at this point. I will highlight the SFRs (Single Family Homes) first:

Sales are up: We have 1 more listings than we did in July as compared to a year ago in Mesa Verde real estate, and we are up in nearly every other category as well:

Pending sales are up 50% as compared to July 2014

Closed sales in July are up 40% since July 2014, with 14 closed sales.

Days on the market are down almost 8%, meaning that homes are selling quicker than last year. The average market time to sell a home in Costa Mesa real estate this past July was 58.

Here are the astounding numbers: Our median sales price is now $849,500 which is up over 7 and a half percent since last year. And homes are selling for approximately 99.88% of the list price- Hello Seller’s Market!!

And inventory is a bit lower – only 31 units as compared to 181 from last year. Our months of supply are now 2.9 months; in other words, if no other inventory came on the market, it would take 2.9 months to sell all remaining units on the market.

What do you think? Can this Mesa Verde real estate market sustain itself? Does it have another 6 months of price increases or another 12 months of price increases?

Can prices continue on this upward trajectory? Or is it that the Mesa Verde real estate market is now not affordable?