Ouray County Real Estate News

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

Welcome

2006 was an interesting year for Ouray County Real Estate. The total number of sales in the county decreased while dollar volume of sales increased. This is a trend that has been reflected in other resort markets throughout Colorado.

Of particular interest was the fact that dollar sales volume in the City of Ouray decreased by almost 50%, and that the dollar sales volume in the City of Ridgway increased by 270%. Overall, the median sales price of property in Ouray County increased in 2006.

Even with the variability we've seen over the past several years in Ouray County Real Estate, now is a great time to buy. Buyers of Ouray County Real Estate will find good bargains on properties with motivated Sellers. Sellers will find investors happy to enter into the Ouray County Real Estate marketplace.

For all your Ouray County Real Estate needs contact Erin Eddy, Managing Broker, Ouray Realty and Investment(s).
http://www.ourayland.com/
eerealty@ouraynet.com
970.318.1376 Cell

Statistical Information from this short Email Blog was provided by Lynn Vogel - Comparable Sales Research - 7 North Cascade Avenue #C, Montrose CO 81401 - 970.249.2118 - lynnv@montrose.net

Above Photo by Lora Slawitschka