Chaffee County Q1 Market Update
Chaffee County remains a strong market with keeping fairly consistent with sales volumes compared to this time a year ago within the County. Commercial Real Estate sales volume of $3,698,644, with 6 transactions (YTD) through the first quarter of 2023, down by 28% compared to 2022 having $5,104,000 in sales volume consisting of 5 transactions. Residential Real Estate sales volume through the first quarter of 2023 is up slightly with sales totaling $62,931,050 (YTD) compared to 2022 sales volume of $59,267,388 (YTD). The average house price for 2023 in the first quarter, was $623,080 compared to 2022 average home price at $644,211 a decrease of 3%.
DEVELOPMENTS
Union Pacific Railroad will be selling 12.12 acres in Downtown Salida with River Frontage. This will be a great commercial development opportunity.
Chaffee County Economic Development is working with several new businesses, some as start-up and some as relocations to the area.
Alpine West Development moves forward on CR 306 in Buena Vista.
| 2022 Q1 | 2023 Q1 | %+- | |
| VELOCITY | |||
| Commercial Sales Volume | $5,104,000 | $3,698,644 | -28% |
| Commercial Transactions | 5 | 6 | 20% |
| VACANCY RATE | N/A | N/A | N/A |
| CAP RATE | N/A | 6-7% | N/A |
| SALES TAX INDICATORS | |||
| All Sales Tax | $1,704,421 | $1,722,619 | +1% |
| Lodging Taxes | $10,170 | $6,186 | -39.2% |
