Current conditions in the Craig market
Reports from the offices of the Moffat County assessor and treasurer show diminishing residential home sales and increasing foreclosures.
A total of 217 homes were sold in 2008, which dropped about 31 percent to 150 home sales in 2009.
At the same time, foreclosures rose about 67 percent in the same time frame, from 46 in 2008 to 77 in 2009.
Roy McAnally, Craig Association of Realtors president and broker owner of American Northwest Realty, said the residential real estate market has been slower, particularly since the market explosion in 2007.
But he added with measured optimism that home prices are not falling and that foreclosures haven’t crept up as high as other communities.
“If we base our market on what is happening in the east slope (of Colorado), because that market is really the closest to what we have here, we should begin to see some up-tick in sales,” McAnally said.
“December (2009) was pretty encouraging around here,” he added. “We were a bit surprised in this office by what we did see, but it seemed to be a pretty good month for home sales.”
McAnally is right about home prices staying high. In fact, average sale prices for residential real estate increased each of the past three years, from $169,920 in 2007 to $172,119 in 2008 and $187,071 in 2009.
Those figures only include residential lots, not agricultural properties that also have ranch homes.
Those statistics give McAnally confidence that while the market might be slower, it is still healthy.
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