The sun is shining brightly in Ouray County today. The mountain snowpack is deep and the locals are out in force traveling to the backcountry to get some spring skiing in. There is a steady stream of cars snaking through Ridgway on the way to Telluride. Main street Ouray is busy with tourists walking about shopping and looking for real estate.
With investors quite nervous in the stock market, we recently have seen increased interest in Ouray, Ridgway and Ouray County property.
In 2007, the overall number of real estate transactions was down in Ouray County. Dollar values however increased. Single family sales numbers were down as well with the dollar values up. Vacant land numbers were down with the dollar values starting to increase over a drop off in 2007. The growth rate in Ouray County incresed by 10.7% over 2006 percentages. Single family median sales prices increased in Ouray County in 2007. This increase was attributable to several large dollar value sales in Ouray County last year. It seems that smart investors with cash reserves are taking advantage of the cooling real estate market nationally. Total numbers of vacant land sales declined in Ouray County in 2007. Vacant land total dollar sales increased from 2006 to 2007.
The total number of real estate sales in the City of Ouray increased 40% over 2006. Dollar sales volume in Ouray increased as well. Ouray saw a 8.75% decrease in the median sales price for the year.
The Town of Ridgway has seen a steady decline in the single-family dollar sales growth rate since 2004. Median sales prices however increased in the town of Ridgway.
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