Chaffee County Q1 2024 Market Update
DEVELOPMENTS
- Chaffee County has seen a slowdown in the market comparing sales volumes to this time a year ago within the County.
- Commercial Real Estate sales volume of $3,257,000, with 4 transactions (YTD) through the first quarter of 2024, down by 12% compared to 2023 having $3,698,644 in sales volume consisting of 6 transactions.
- Residential Real Estate sales volume through the first quarter of 2024 has slowed by 44% with sales volume at $2742,184,700(YTD), compared to 2023 sales volume of
$62,774,450 (YTD). - The average house price for 2024 is up by 17% with the average home price being at $753,298 compared to 2023 average home price being at $627,745.
| 2023 Q1 | 2024 Q1 | %+- | |
| VELOCITY | |||
| Commercial Sales Volume | $3,698,644 | $3,257,000 | -12.70% |
| Commercial Transactions | 6 | 4 | -40% |
| VACANCY RATE | N/A | N/A | N/A |
| CAP RATE | 6-7% | 6-7% | N/A |
| SALES TAX INDICATORS | |||
| All Sales Tax | $1,722,619 | $1,834,603 | +6.5% |
| Lodging Taxes | $6,186 | $12,611 | +103.9% |
