3 Reasons Why the 2015 Montrose Real Estate Market is Similar to Denver
Low Housing Supply
With the crunch in construction lending restrictions, some home-builders in Montrose Colorado are finding it hard to obtain financing. The inventory of new builds is increasing, but slowly. The majority of these new builds are custom builds as well, which never see the open market. Many of the new housing starts will be finished in the fall, which may be too late for buyers looking to complete a real estate transaction before school starts again. Because of this lack of inventory, the prices of homes are driving upward due to demand.
The Green Rush
Like it or not, Marijuana is now legal in Colorado. We’ve had first hand experience, especially with baby boomers, choosing Montrose Colorado as their top retirement destination, citing legal weed as one of the reasons they chose the area for retirement (Seniors Choosing Legal Pot States for Retirement). We’ve also had several inquires from Buyers from Florida to California asking about “self-sustainable” acreage with lots of irrigation.
The Great Outdoors
Though it may be aloof to compare the outdoor scene in Montrose to Denver, many people are moving to Colorado because of the amazing outdoor opportunities. Many retires are moving to Montrose because they love to RV camp and tour the old mining trails with Jeeps and 4-wheelers. Montrose is the perfect base camp for these activities. Many Buyers who are moving to Montrose Colorado want ample toy and RV storage on the property they purchase. This is not exactly the “purist” outdoor crowd, but an outdoor enthusiast crowd none-the-less.
Most non-fly-fisherman are not aware of this, but Montrose is one of the top fly-fishing locations in the US. Matt McCannal, Shop Manager and Guide at Rigs Fly Shop in Ridgway, purchased a home in the Montrose area after a year long road trip across the US in search of the ultimate fly-fishing paradise.
Thinking about Buying or Selling? Call or Text: 970-417-9375