BERKSHIRE HATHAWAY HOME SERVICES COLORADO PROPERTIES A Tale of Two Markets February sales in our three counties increased from January with 96 closed residential transactions-down from 110 in 2022. 95 in 2021, and 82 in 2020. The list price to sales price ratio declined minimally to 96.77% (compared to 97.8% in 2022). While the market has slowed, average sold price decreased by 4% and sold price per foot increased 7% Demand remains strong in multiple price points and neighborhoods, although buyers are taking a longer "wait and see approach, where they are factoring interest rates and home prices relative to the market. Days on market in February increased to their highest level since April 2021-a clear indication of buyers waiting for prices (on mortgages and homes) to come into balance 1/3 Acre with irrigation water, RV/Boat parking March and the next few months will tell us a lot about Happy spring! MONTROSE $1,140,000 59484 Lone Eagle Road 4 Bed14 Bath 13,648 sq. ft. 4-Car Garage 11.6 Acres DASSED PULSA Don Bailey 970.209.8257 FOREVER CONNECTING FOREVER CREATING FOREVER LEARNING FOREVER INNOVATING FOREVER INSPIRING FOREVER COMMITTED FOREVER STRONG our market. We are experiencing more historic trends and thus inventory should only continue to rise through July-which should provide ample options for eager homebuyers and help temper prices. One of the key factors to finding a more balanced market will be interest rates. While you may not always be watching rates daily, keep an eye on the 10-year treasury note rate as 30-year fixed rates generally track the 10-year and are a good barometer moving forward Homeowners looking to make a move should balance price and condition when selling Buyers are active but will not overpay for property and sellers who are in- tune with the market will be successful given continued strong demand. Aside from the market, we are having an exceptional season with events throughout the area. Please be in touch if we can help you in any way bhhscolorado.com 1970.249.4663 Real estate services in Montrose and beyond! New Listing! MONTROSE $334,900 2541 Silver Way 3 Bed12 Bath 11680 sq. ft. BHHSColorado.com I (970) 249-4663 Linda Steil 970.417.8082 Call one of our trusted real estate brokers: Trena Unrein, Brian Unrein Autumn Barrett, Don Bailey, Jeff Keenfuss, Kree Christie, Linda Stel Makaya Cervone, Michael Scott Dosch, and Donna Justin BERKSHIRE HATHAWAY HOME SERVICES COLORADO PROPERTIES A Tale of Two Markets February sales in our three counties increased from January with 96 closed residential transactions - down from 110 in 2022. 95 in 2021 , and 82 in 2020 . The list price to sales price ratio declined minimally to 96.77 % ( compared to 97.8 % in 2022 ) . While the market has slowed , average sold price decreased by 4 % and sold price per foot increased 7 % Demand remains strong in multiple price points and neighborhoods , although buyers are taking a longer " wait and see approach , where they are factoring interest rates and home prices relative to the market . Days on market in February increased to their highest level since April 2021 - a clear indication of buyers waiting for prices ( on mortgages and homes ) to come into balance 1/3 Acre with irrigation water , RV / Boat parking March and the next few months will tell us a lot about Happy spring ! MONTROSE $ 1,140,000 59484 Lone Eagle Road 4 Bed14 Bath 13,648 sq . ft . 4 - Car Garage 11.6 Acres DASSED PULSA Don Bailey 970.209.8257 FOREVER CONNECTING FOREVER CREATING FOREVER LEARNING FOREVER INNOVATING FOREVER INSPIRING FOREVER COMMITTED FOREVER STRONG our market . We are experiencing more historic trends and thus inventory should only continue to rise through July - which should provide ample options for eager homebuyers and help temper prices . One of the key factors to finding a more balanced market will be interest rates . While you may not always be watching rates daily , keep an eye on the 10 - year treasury note rate as 30 - year fixed rates generally track the 10 - year and are a good barometer moving forward Homeowners looking to make a move should balance price and condition when selling Buyers are active but will not overpay for property and sellers who are in tune with the market will be successful given continued strong demand . Aside from the market , we are having an exceptional season with events throughout the area . Please be in touch if we can help you in any way bhhscolorado.com 1970.249.4663 Real estate services in Montrose and beyond ! New Listing ! MONTROSE $ 334,900 2541 Silver Way 3 Bed12 Bath 11680 sq . ft . BHHSColorado.com I ( 970 ) 249-4663 Linda Steil 970.417.8082 Call one of our trusted real estate brokers : Trena Unrein , Brian Unrein Autumn Barrett , Don Bailey , Jeff Keenfuss , Kree Christie , Linda Stel Makaya Cervone , Michael Scott Dosch , and Donna Justin