Tuesday, May 28, 2024
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How much is an acre of land worth in Colorado?

Have you ever thought of why people want to settle in Colorado ? It is not a mere coincidence. Colorado’s economy is thriving and it seems like this is going to be the trend in the long run. The state offers abundant jobs in diverse fields. The state’s GDP is better than most other states. Apart from financial strength, Colorado also displays breathtaking nature. The scenic beauty of the state is commendable.

On top of all this, the climate seals the deal for most of us. The state receives 300 days of sunshine. Say bye to the gloomy days. This allows you to freely go outside and pursue your hobbies and recreational activities. The state is considered to be a paradise for skiers. The state is a haven for sports lovers. There are five major leagues that are featured in the Denver Metropolitan Area. They include Colorado Rockies (MLB), Denver Broncos (NFL), Colorado Avalanche (NHL), Denver Nuggets (NBA), and Colorado Rapids (MLS). The college sports culture is also popular in the state.

Colorado real estate

The Colorado real estate market is cool right now. The tug of war between the sellers and buyers is even. The median value of a home in the state is $401,800. The value of homes has increased by 2.8% from last year’s figure. It is further anticipated that the value will increase by another 4.1% in the next year. The market is cool right now and dominated neither by the seller nor buyer.

The median price of listing is $260 per square foot. The median price of houses that are currently listed in the state is $428,300. However, there is a drastic decrease in the median price at which houses are sold in the state. The median selling price is $379,700. The median price of rent in the state is $2000. On average, a house stays listed for 72 days before it is sold.

Following is the data for El Paso County

Aggregate number of sale: 61

Price per acre (median): $5571

Median size of land sold: 10 acres

Price per acre (average): $14,166

Average size of land sold: 29 acres

Even after the gradual price rise, buyers are keen to purchase land in this wonderful state. As the inventory is low and the number of interested buyers more, now is a good time to buy your dream house in Colorado.



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