Oops! It appears that you have disabled your Javascript. In order for you to see this page as it is meant to appear, we ask that you please re-enable your Javascript!

Compare Listings

January 2017 Market Update – National & Montrose CO Real Estate

January 2017 Market Update – National & Montrose CO Real Estate

January 2017 – Montrose CO Real Estate Market Update

Montrose CO Real Estate Market

1front-1new-optimized

Happy New Year and welcome to your 2017 Montrose Colorado Real Estate Market Update.

I’m going to give you a quarterly snapshot of 2016 in Montrose, along with an update on land sales in Montrose, followed by a national real estate market summary.

The Montrose Colorado real estate market was certainly an upward roller coaster in 2016. In the 1st quarter of 2016, 12% more home sold, but the median selling price was down by 2%.We experienced large gains again in the 2nd quarter with a 6% increase in sales and a price increase of 9%. The 3rd quarter threw us a curve ball with a decrease of 2% in homes sold, while prices were still up year-over-year by 7%.

Lastly, the 4th quarter was the most unusual in 2016. The Montrose real estate market experienced a 25% jump in residential units sold, along with an 8% price increase in the 4th quarter. We believe that the unusually warm fall season weather coupled with a low housing inventory led to this heightened market activity. The median sale price for the 4th quarter of 2016 was $209,000 versus $192,000 in 2015.

Vacant land sales are up by 9% and the median price is at $44,000. This shows us that the bulk of land sales are residential lots in town or 1-3 acre residential building parcels surrounding Montrose county Colorado.

We are still seeing low inventory numbers this winter in the Montrose housing market. Small outcroppings of speculation and new build homes are appearing, but these numbers are far from volumes strong enough to satisfy the robust buyer demand. The hottest priced homes are still under $300,000.

National Real Estate Market

On a national level, the median sales price for this month is at $232,200. This is up 6% from last year, but down a bit from last month.

The interest rate on a 30 year fixed mortgage continues to creep up and is at about 4.25%.

Denver Colorado, along with many regions in the US, has failed to match home price gains with wage growth. This has created a real problem for affordability in Colorado and the nation as a whole. Modest gains are forecasted for the 2017 housing market due to rising interest rates and declining consumer confidence within the housing sector. With this said, the real estate market is still a bright spot within the US economic recovery. (Home prices drop in metro Denver as affordability becomes an issue).

Thank you and have a fantastic start to your year! – The Atha Team

If you Benefited from This Blog,

Please Share on Social Media using the Share Buttons Below!

AthaTeam_Logo_Photo_sml

Copyright 2016 Keller Williams Realty, Inc and Keller Williams Colorado West Realty, LLC. If you have a brokerage relationship with another agency, this is not intended as a solicitation. Equal opportunity housing provider. Each office is independently owned and operated. For sale by owner data not included in research findings. Sales data reflects sales from homes not limited to the Atha Team LLC. This information was gathered from Keller Williams, The National Association of Realtor, CoreLogic data analysis firm, Montrose Association of Realtors, and the Mortgage Brokers Association.  This data is considered accurate, but is not guaranteed. Copyright Atha Team, LLC 2016. All Rights Reserved.

img

Diana Atha

Diana Atha is a seasoned agent in the Montrose, Colorado real estate industry. She has served within the Montrose professional market since 2006 and is part of Keller Williams Colorado West Realty. Diana has extensive experience as a real estate agent and is naturally gifted in customer service. She has passed on this knowledge and mentored rising stars in the Atha Team. Diana and her team have achieved many awards serving as buyer's and seller's agents in Montrose, Ridgway and Ouray. “Top Residential Sales Team” in 2017 “Top Residential Sales Team” in 2016 “Top Listings” and “Top Producer” in 2016 “Top Residential Sales Team” in 2015 “Realtor of the Year” in 2013 Recognition for ranking 3rd in real estate sales volume in 2013 Diana has served as a volunteer in many different aspects of the community throughout her over 25 years of Montrose residency. Growing up, Diana was modeled in the discipline of servant leadership. Her father, Rick Weaver of Del-Mont Consultants and Samaritans Aviation, included Diana in many community projects serving the needy. As Diana grew older, she traveled to Kenya, Papua New Guinea, Australia, New Zealand, Hungry, Romania, and Japan to help serve others in a Christian Humanitarian context. Diana now volunteers her time at the Magic Circle Theatre, Grace Community Church, Rotary International – Montrose CO, and served on the Board of Directors for the Montrose Association of Realtors. Diana is married to Ian Atha the Listing Specialist for the Atha Team and happily resides in Montrose Colorado.

Related posts

Retiring to Colorado? How to Find the Right Real Estate Agent

Retirement can be a great time of life. You get to relax and do the things you've always wanted...

Continue reading
by Atha Team

Will Solar Panels Be a Selling Point for Your Colorado Home?

If you're planning to sell your home in the next few years, or you're ready to sell it in the...

Continue reading
by Atha Team

What to Know About the Mortgage Loan Process

Buying a house is exciting, but getting a mortgage often isn't. Sometimes it can be downright...

Continue reading
by Atha Team