Grand housing prices continue upward trend as county sees $6.2 million sale
Weighted by a blockbuster sale, the average single family house in Grand County went for over $1 million in the month of January.
The latest data from the Grand County Board of Realtors shows the average and median sales prices are up for both attached and detached units, continuing a steady trend of rising housing prices.
“I’ve got local buyers approved to mid $300,000 and we can’t find them a house because (those homes) just don’t exist right now,” said Tim Myers, director of the Grand County Board of Realtors. “It’s a tight market, definitely a seller’s market.”
45 — Properties sold in January
$1,145,981 — Year to date average sales price for a single family home
$386,587 — Year to date average sales price for condos
The average sales price for a single-family house in Grand County was $718,350 in December and $1.14 million in January.
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However, January’s housing statistics might be skewed by a $6.2 million sale in Granby.
Originally listed on Realtor.com in 2017, the 7,595 square foot house, known as the 4 Lazy J, was purchased last month by Owens RE Holdings LLC for a cool $6,233,370.
For that price, the buyer received six bedrooms and seven bathrooms. There’s also a six-stall stable with living space, a detached garage and a membership to Granby’s premier guest ranch, C Lazy U.
Reached by phone, Brady Johnson, the real estate agent who handled the sale, said the buyer would prefer to stay private.
According to the board of Realtors, no homes in the $5 million to $9.9 million price range were sold in the county last year and only two homes in the $2 million to $4.9 million price range sold, so the $6.2 million sale is not indicative of the broader Grand County housing market.
“That’s a one every two or three years type property,” Myers said. “That is extremely large for Grand County.”
However, Myers noted that more properties are appearing over the $1 million mark at a time when units selling in the $300,000-400,000 price range are almost impossible to find.
He’s hoping that, as 2020 begins to thaw out, more properties enter the housing market to ease some of the demand.
“Prices are just creeping up more and more every year,” Myers said. “Buyers are out there; it’s just we don’t have the inventory.”
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