If you’re ready to invest in real estate in Salida, whether it’s a first or second home, a plot of land for down the line, or a development opportunity, now is a good time to buy.
Our local buyer’s market has several contributing factors. Total sales volume in Salida and the surrounding areas was down 24% from 2007 to 2008 and average days on the market increased from 231 to 252 in the same time period. The drop in sales and overall increase in days on the market mean we have about 2.5 years worth of inventory on the market, and a host of motivated sellers!
While the news media is full of stories about waves of foreclosures across the country, this is not the case in Salida, Colorado – we do not have a big foreclosure market here, but we are showing an increase in the list-to-sell ratio, which means sellers are accepting lower offers. In a buyer’s market you can bargain harder. Look for properties with hefty days on the market or with multiple price drops.
Salida, Colorado is a small mountain town that continues to make a name for itself. The winter months mean outdoor adventures on snowshoes, snow mobiles, cross country and downhill skis. Monarch Ski Resort is a mere 30 minute drive from town, and just last week I rode the chair with a fella from Crested Butte that described Monarch as, cat skiing, but with lifts, and it doesn’t get much better than that! Spring and summer bring opportunity for just about any kind of recreation you could imagine, from mountain biking to fly fishing, river rafting to world-class hiking, and currently in the works is Salida’s first 18-hole golf course and golfing community! The hot springs are, of course, a great resource for year-round rest and relaxation.
The current market, coupled with the attributes of the area, plus the provisions of the economic stimulus package designed to help homebuyers, make Salida real estate ripe for the picking! If you are curious about anything from real estate to local happenings, get in touch. I’m sure we can help you find the apple of your eye.