County home sales dip average 3 percent
Montezuma and Dolores county home sales improved in the last few months of 2013 compared with sales at the end of the previous year, according to data provided by the Four Corners Board of Realtors.
"The market is better now than it has been in the last two years," said Gerry Parker, president of Four Corners Board of Realtors.
There were 106 residences sold during the fourth quarter compared with 88 sales in during the same period in 2012. Average prices dipped by about 3 percent, from $187,070 to $182,126.
But the median sale price improved by about 3 percent, from $141,000 to $145,000.
The local market is seeing quite a few first-time homebuyers, which creates a positive cascading effect because most of the buyers looking to move up sell the house they own.
There were 706 residential properties on the market in the fourth quarter, and Parker said homes are on the market longer than they were four years ago
For those looking to sell, Parker advises patience as the market improves.
"You never know when the right buyer is going to come along," she said.
Parker is optimistic because interest rates are still historically low.
"We're looking forward to a very good summer," she said.
The board considers data reported here reliable, but not guaranteed.