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July 2017 – Montrose Colorado Real Estate Market Update

July 2017 – Montrose Colorado Real Estate Market Update
High Octane Summer

The Montrose Colorado Real Estate market is still running on all cylinders this summer as housing inventory shortages prove to be the prevailing headwind for 2017. The median sale price in Montrose for last month was $216,000. The number of units sold was up 15% from the same time last year while the number of days on market was down 22%, a substantial reflection of just how heated the housing market has become. The majority of homes priced under $300,000 are going under contract within 2 weeks of listing. While this is music to the ears of sellers, buyers are in a conundrum regarding limited housing options.

Real Estate Price Range Activity in Montrose Colorado
  1. $150K – $299K (assuming current homes under contract close)
    • 37 homes selling per month
    • 3.9 month supply of inventory
  2. $300K – $399K (assuming current homes under contract close)
    • 11.7 homes selling per month
    • 3.4 month supply of inventory
  3. $400K – $499K (assuming current homes under contract close)
    • 3.7 homes selling per month
    • 12.3 month supply of inventory
  4. $500 – $600 (assuming current homes under contract close)
    • 3 homes selling per month
    • 11 month supply of inventory

 

National Market

montrose-real-estate-market-statsNationally, the real estate market is very similar to Montrose, reflecting extremely tight inventories and looming concerns surrounding affordability. The national median days on market dropped to just 27 days in May. New home construction is occurring, but in the higher price ranges where builders are attracted to potentially higher profit margins. The median sale price for new construction in May was at $345,800. This new build sale price is the highest seen since the metric has been recorded. The majority of new builds in Montrose involve baby boomers constructing or purchasing new homes, which at retirement age have nest eggs to invest in new housing rather than sift through existing inventory. (Buyers Fuel Market for New Homes)

 

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Copyright 2017 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 2017. All Rights Reserved.

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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.

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