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March Market Update – National & Montrose CO Real Estate

March Market Update – National & Montrose CO Real Estate

March 2016 – Montrose CO Real Estate Market Update

Montrose CO Real Estate Market

The Montrose Colorado real estate market has continued to soar as we’ve entered 2016.  The number sales for residential homes in Montrose county for January and February of  2016 rose by 24% Year over Year.  The median sales price rose from $168,900 in 2015 to $180,000 this year.  That is a 6% rise in prices.

I believe the rise in prices is directly related to the fact that we continue to have a drop in housing inventory.  The demand continues, but the supply drop is driving prices up.  To give you an idea, in January 2015 we had 334 homes listed for sale.  This year we only have 288.  That is a 13.8% drop in the amount of homes available.  As of  March 7th, 2016, we had a total of  378 homes for sale, but 93 of them are already under contract.

New construction is rising once again evidenced by the fact that there were almost double the amount of vacant residential land sales at the beginning of this year compared to last year.

 

 

National Real Estate Market:

On a national level, the median sales price for this month is at $213,800, up  8.2% from last year. The poor inventory of homes continues to fuel buyer frustrations and bidding wars.Montrose Co Real Estate

2015 was being said to be in the top 5 best years in all of U.S. history.

As a nation, home builders are still 30% below their peak in 2006.  It is suspected that the energy boom took a lot of workers from the construction industry.  We need more homes to be built to help with the low inventory.

Interest rates on a 30-year fixed mortgage are at about 3.62%.  These low interest rates are helping to keep homes affordable even with the large price increases.

Thanks and have a Fantastic start to your Spring! – The Atha Team

 

 

 

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Thinking about Buying or Selling? Call or Text: 970-417-9375

 

 

 

 

 

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.

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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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