This graph “Total Residential Sales Volume” shows the total dollar amount of sales in Delta County, CO from 2004 through 2021. One thing is clear: the pandemic sure didn’t hurt real estate. In fact, the opposite is true. The increase from the end of 2019 through the end of 2020 was greater than any other period, fueled in part by a steady increase in prices.
This next graph “Total Residential Number of Property Transfers” represents how many transactions, or sides, that there were each year. This is a trickier number. For a real estate sale, there are two “sides” to the deal: the buyer’s side of the transaction, and the seller’s side of the transaction. So if a broker brought a buyer to one of his/her own listings, that broker would get credit for TWO sides for that closing. …Notice how this graph doesn’t behave in the same way as the first graph. The number of sides decreased from 2017 to 2019 yet the $ volume increased (barely, but it did go up). And if you look at the number of sides between 2020 and 2021, they barely changed, yet look at the tremendous increase of $ volume. These indicators are another way to demonstrate how quickly and how much prices increased from 2020 to 2021.
Published April 2022