Download November 2020 Land Sales - Market Stats
We saw another record breaking month for land sales for November 2020 in Douglas County, Colorado. All market indicators for residential and agricultural land sales between $100,000 and $1,000,000 are up year over year, including number of transactions, sold prices and sales volume.
Additional Data: The Average Original List Price for vacant land in Douglas County was $365,516 with an sales price of $356,298. This equates to a low 2.52% price reduction from the original list price. The average Days on Market was 197 days. The longest days on market was 990 days and the shortest 0 days.
With 147 active listings, there is 4.75 months of inventory.
What to Know
Buyers: Inventory is down and prices are slightly increasing. I expected a slight slow down in land sales for November, but there was an increase. Be prepared to make an offer. Speak with your lenders now or have your proof of funds ready for Seller review.
Sellers: Buyers are still purchasing land at record numbers. Prices might not have caught up to market demand. Remember, land does not sell as quickly homes. If priced right in this market, you should see offers in the first 30 days. If over priced, expect longer days on the market.