Pagosa Springs Q3 2025 Market Update Report

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In Q3 2025, Archuleta County’s residential real estate market remains relatively flat, with low inventory and a corresponding decline in sales activity, resulting in modest and stable price movement overall. Limited supply, combined with more cautious buyer behavior, has created a balanced market where properties are taking just long enough to sell to prevent sharp price swings in either direction.

That said, well-priced homes in the lower price tier—particularly between $500,000 and $750,000—continue to move quickly, often attracting strong interest and offers close to list price.This segment is clearly outperforming higher price ranges, underscoring sustained demand for more attainable housing despite broader market softness.

On the commercial side, activity has been slower, with only a small number of sales occurring and cap rates generally falling in the 7% to 8% range.

Q3 2024  Q3 2025 %+-
VELOCITY (Source – CREN MLS)
Commercial Sales Volume

$2,701,800

$3,018,000

10.48%

Commercial Transactions 5 2 -150%
VACANCY RATE 
CAP RATE  7%-8%
SALES TAX INDICATORS (Source – City of Pagosa Springs, County of Archuleta)
All Sales Tax

$5,168,746.83

$5,351,873.37

+3.42%
Lodging Taxes

n/a

n/a

 

About The Author

Chris Liverett

Chris Liverett is the Founder and Employing Broker of Sherpa Real Estate, established in 2016. Since entering the Pagosa Springs real estate market as a licensed agent in 2006, Chris has built both his reputation and his company on being trusted guides in the industry. Known for his analytical expertise, deep local knowledge, and relational approach to helping clients achieve their real estate goals, Sherpa Real Estate has grown into the largest and most productive brokerage in Archuleta County.