Jon Eliason
Associate Broker

HOME SALES IN 2011 UP 36.96% FROM 2010

With home sales volume increasing considerably over the last year, it's easy to see that what happens in Pagosa Springs, doesn't follow the National trend. It took a while for the home prices to fall in line with what Buyers were willing to spend and the deal seekers are now finding bargains across the board.

With signs that the economy has stabilized and showing an initial comeback, slight increases in dollars per square foot are becoming quite evident in Pagosa Springs Homes.

Once at an all time high of $225/ft, the market destabilization brought many distressed properties, leading to Foreclosure for some and Short Sales situations for others. This will  continue in to 2013 as some ARMs have taken effect for the home buyers of 2005-2008. The PPF (price per foot) dropped to a low of $144/sf. We are now seeing homes in some areas of Town back up to $159/sf.

To give you an idea, lets say a 2500 sf home in 2006 was at it's peak and was selling at $562,500.00. When home sales in Archuleta County got to its lowest point, which was in '09-'10 that same home was selling for $360,000.00. Today that same home could sell for $397,500.00.

It's nice to see the resilience in the Pagosa Market and for all of the folks that stuck it out, I say, Bravo! 2012 looks to be a year of an upswing.

With the announcement of a Big Box Store that has already purchased land on Highway 160 and Alpha Drive, I see the Commercial market picking up as well. With a projected growth over the next couple of years, now would be a great time to invest in Pagosa Springs.