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Market Shifting in Favor of Buyers? – June Real Estate Stats

Market Shifting in Favor of Buyers? – June Real Estate Stats

Montrose Co Real Estate

Montrose Market

Ouray Colorado Cabin for Sale - 477 County Road 31 Ouray, CO 81427 - Atha Team Real EstateWe’re halfway through the year, and it feels like summer finally arrived here in Montrose. The real estate market is on a steady pace with some slight slowdowns in sales and the time homes spend on the market. Total home sales by unit were down 5.6% for the first 6-months of this year compared with the same period last year. Days on market increased 13.8%, while median home prices for the same 6-month period increased by 4.2%.

Broadly, the market is slowly leveling-off as prices increase, giving buyers more time to shop and make purchase decisions. Multiple offer situations are still in play, though. More desirable and strategically priced properties, in the lower and even upper-end price ranges, are experiencing multiple offer situations.

Single-family home new construction is down 19% for the first 6-months of this year compared with the same time period last year. Weather, labor shortages, and increased building material costs may all be contributing factors to this decline.  This is not necessarily great news for the long-term housing inventory outlook, given we’re still very much in a seller’s market. Time will tell if this is a bump in the road or a longer-term trend. Summer is finally here, and we hope to see more permits issued during this second half of the year (Montrose County Planning and Development).

National Market

Cobble Creek Golf Home for Sale with Granite Counters and Island Seating - 926 San Sophia Dr Montrose, CO 81403The national real estate market is still very much a strong seller’s market with the median selling price hovering at $277,700. The absorption rate including all four US regions is at 4.3 months, giving evidence to the static and robust seller’s market. 53% of homes went under contract less than a month after being listed on the open market. Inventory levels are up 2.7% while total sales are down 1.1% from the same time period last year. A 30-year fixed conventional mortgage is at approximately 4%, which is at a historically low level (Existing-Home Sales Ascend 2.5% in May).

 

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Montrose Colorado and National Real Estate Statistics 07_2019_Stats

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

Atha Team Montrose CO Keller Williams Real Estate AgentsStatistics gathered from CREN MLS, criteria is all residential not including mobile or manufactured housing in Montrose. Copyright 2019 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, CMU Department of Business and Economics, and the Mortgage Brokers Association. This data is considered accurate, but is not guaranteed. Copyright Atha Team LLC 2019. 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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