Chaffee County Q4 2024 Market Update Report
Chaffee County has felt the slowdown in the market with Buyers willing to wait with interest rates being up, has held fairly steady in comparing sales volumes to this time a year ago within the County. Commercial Real Estate sales volume of $10,696,000, with 15 transactions (YTD) through the fourth quarter of 2024, is slightly down by 5% compared to 2023 having $11,256,644 in sales volume also having 14 transactions.
Residential Real Estate sales volume through the fourth quarter of 2024 has seen a bit of an increase of 10.8% with sales volume at $305,084,833 (VT) compared to 2023 sales volume of $275,413,681 (YTD). The average house price for 2024 is up by 5.7% with the average home price being at $733,377 compared to 2023 average home price being at $693,737.
Chaffee County has adopted new Land Use Codes.
| 2023 YTD | 2024 YTD | %+- | |
| VELOCITY | |||
| Commercial Sales Volume |
$11,256,644 |
$10,696,000 |
-5.0% |
| Commercial Transactions | 14 | 15 | +7.1% |
| VACANCY RATE | unavailable | unavailable | |
| CAP RATE | 6-7% | 6-7% | |
| SALES TAX INDICATORS | |||
| All Sales Tax | $11,948,535 | $12,407,927 | +3.8% |
| Lodging Taxes | $73,278 | $89,612 | -18.2% |
