A fascinating trend is now occuring in Ouray County Real Estate. The median sales price of all real estate in the County seems to be decreasing. The Sales Dollar volume of Real Estate however is increasing even thought the total number of real estate transactions is decreasing. I attribute this phenomenon to Buyer from larger and more expensive real estate markets in the cities visiting Ouray and Ouray County and being surprised about their greater purchasing power. I'm also noticing a trend in our real estate market where Buyers visiting Telluride, Colorado are getting "sticker shock" over real estate prices there and coming over the hill to the great town of Ouray where they buy their dream retirement home, vacant land or other real estate. Our Real Estate market here in Ouray is somewhat isolated from national real estate trends due to supply and demand. There is only so much real estate in Ouray as we are surrounded by 14,000' peaks. While national Real Estate suffers, we are holding our own and I expect it to be a strong Real Estate sales year in our real estate market.
Erin Eddy
Broker
Ouray Realty and Investments
Wednesday, May 2, 2007
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