Chaffee County Q3 2024 Market Update Report

Chaffee County has continued to hold solid in the market comparing sales volumes to this time a year ago within the County. Commercial Real Estate sales volume of $8,691,000, with 11 transactions (YTD) through the third quarter of 2024, is slightly down by 5.72% compared to 2023 having $9,218,644 in sales volume also having 11 transactions.
Residential Real Estate sales volume through the third quarter of 2024 has seen a bit of an increase of 8.67% with sales volume at $234,112,133 (YTD) compared to 2023 sales volume of $215,433,204 (YTD). The average house price for 2024 is up by 8.33% with the average home price being at $740,861 compared to 2023 average home price being at $683,915.
Developments
Chaffee County Land Use Code Discussion has been ongoing with discussions open to the public with Concerns and Questions of what and how the changes would affect Land Use Codes for Individuals.
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| 2023 Q3 | 2024 Q3 | %+- | |
| VELOCITY | |||
| Commercial Sales Volume | $9,218,644 | $8,691000 | -5.72% |
| Commercial Transactions | 11 | 11 | 0% |
| VACANCY RATE | |||
| CAP RATE | 6-7% | ||
| SALES TAX INDICATORS | |||
| All Sales Tax | $9,003,321 | $8,750,968 | +2.9% |
| Lodging Taxes |