Archuleta County’s first-quarter 2026 results show a market in measured recalibration. Residential activity softened modestly on both unit count and dollar volume, while the land segment absorbed the larger correction. Commercial transactions held steady in count and edged up slightly in volume, with notable activity in retail, mixed-use, and office space. New construction in light…
Archuleta County’s first-quarter 2026 results show a market in measured recalibration. Residential activity softened modestly on both unit count and dollar volume, while the land segment absorbed the larger correction. Commercial transactions held steady in count and edged up slightly in volume, with notable activity in retail, mixed-use, and office space. New construction in light industrial and flex product continues to expand inventory in that category.
Capitalization rates on recent core-area commercial sales clustered in a tight band — averaging roughly 6.7% — indicating disciplined investor pricing for stabilized, well-located Pagosa Springs assets. It is also important to recognize that many local commercial acquisitions are not driven purely by yield metrics alone. A meaningful percentage of buyers in Archuleta County attach personal or lifestyle utility to these purchases
| Q1 2025 | Q1 2026 | %+- | |
| VELOCITY (Source – CREN MLS) | |||
| Commercial Sales Volume |
2,300,000 |
2,100,000 |
-9.5% |
| Commercial Transactions | 3 | 3 | 0% |
| VACANCY RATE | |||
| CAP RATE | 6.3% -7.2% | ||
| SALES TAX INDICATORS (Source – City of Pagosa Springs, County of Archuleta) | |||
| All Sales Tax |
n/a |
n/a |
|
| Lodging Taxes |
n/a |
n/a |
Range of NNN Rental Rates on Commercial Properties 2025/2026: $18 – $24
