Pueblo Market Remains Strong; Median Sales Price Increases in 2019
“Overall, the 2019 Pueblo market was about the same as 2018, plus or minus 2%. The two big differences were median sales price, which rose just more than 13% to finish the year at $210,000, and days on market, up 8.6% over 2018. The 2019 sold listings slipped a total of 45 from 2018, just a 1.6% dip. We are still low on inventory with just 349 active listings at the end of the year, down nearly 33% from the end of 2018. This puts our months supply of inventory at 1.6 months, down more than 30% from the end of 2018. Total building permits will end 2019 at about 500, 60 more than in 2018. The last three years produced 1,300 permits compared to the early 2000s where that figure represented just one year of permits. New residential building is coming back, but we need more to satisfy to demand. December pending sales improved a total of 42 over 2018.
Agents across the market remain positive that 2020 will be a little better than 2019 with interest rates remaining low and strong demand continuing. Once again, this past year, most of the sales and construction occurred in Pueblo West,” said Dave Anderson, REALTOR and broker associate at RE/MAX Pueblo West.