Montrose Co Real Estate
Real Estate Statistics - Montrose Colorado MLS

What is Causing the Major Shift in Real Estate Sales? – August Real Estate Stats

Montrose Market

Montrose Colorado Residential Real Estate Sales - Atha TeamThe overall Montrose market remained relatively flat in homes sales for the month of August. Increases were seen in the luxury price range ($500-$800) from January through August, up 8 from last year with a few sales in August. A major shift occurred this year in the $400-500 price range with a 55% increase in the number of units sold over the last 8 months of 2018. This is fantastic news for these homeowners who were once in the softest market in Montrose. There were 27 homes sold in the $400-500 range in 2017 (Jan –Aug) and a total of 60 units sold so far this year.

National Market

Montrose Colorado Residential Neighborhood Real Estate Sales - Atha TeamNationally, consumer confidence is still at an 18 year high. Wages are up close to 3% year-over-year while inflation has increased recently as well. American’s personal net worth is quite high due to equity gains in home values and also gains in stock portfolios. Retailers are also reporting strong numbers due to increased consumer spending. All signs point to an economy reaching its prime in the economic expansion period.

There has been a general slowing in the National housing market (price gains and sales), which the Federal Reserve commented on during their July 31st meeting. Further, the National Association of Realtors reported recent numbers illustrating a downward trend of falling home sales over the last 4-consecutive months. Keep in mind that this national housing slow down in price gains is less than 0.5% relative to the same time last year. The National housing indexes are pulling data from excessively swollen metro prices, which tend to overshadow housing data trends of rural communities. With relation to business cycles, Montrose has historically trailed 1-to-2 years behind major metros like Denver. Overall, it looks like mid-range home shoppers are still ready, willing and able, but have taken a small breather, along with the market (U.S. Home-Price Gains Decelerate).

 

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Residential Home Statistics Sold in Montrose Colorado - August 2018 - Atha Team Stats

 See other housing market stats posts by the Atha Team HERE.

 

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

Atha Team Montrose CO Keller Williams Real Estate AgentsCopyright 2018 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 2018. All Rights Reserved.

Montrose Co Real Estate
Montrose CO Real Estate Blog

7 Ways to Get the Home You Really Want

Curb appeal, get the dream home you want - Atha Team in MontroseGetting a new home can be exciting, whether it’s your very first one or you’ve bought and sold plenty of houses before. No matter how many homes you’ve owned, though, it’s always important to get the house you really want. You can do that more easily by paying close attention to a few simple tips. Here are seven things you need to know, to increase the chances of getting the house you want.

1. Remember the Value of Location

Even if you really love a house, if it’s not in the right neighborhood, it may not be something you’ll love for the long term. Getting the house you really want means getting the location you want, too. Don’t give up on finding the right spot.

2. Focus on a Fair Budget

Your budget is important, and it will probably be a main issue when you buy a house. Unless you have a nearly unlimited budget, how much you can spend on a house matters. Stick to your budget when searching, and you’ll be more likely to get what you want most and can afford.

3. Keep Fixer-Uppers in Mind

Fixing up a house can make it into something perfect for you. With that in mind, finding a home that needs work in the right location can mean a house that you can make into your own over time. Staying open to the idea can help you find the right place for your new home.

Google Satellite view of prime real estate property - Atha Team agents4. Work Closely With Your Agent

Let your real estate agent help you find the right place. That’s what they’re there for, and what they want to do. They can show you plenty of homes for sale that could work for you, and make it easier to find one faster than you might be able to do on your own.

5. Be Prepared to Walk Away

While it can be hard to walk away from a house you really like, you shouldn’t overpay or settle for something that isn’t going to be right for you long term. Instead, be prepared to walk away from any house you can’t get the right deal on. In the end, you’ll be glad you did.

6. Be Open to New Ideas and Plans

Even if you’re sure of what you want in your house, be willing to look at other things. You don’t have to compromise or give in and buy something you don’t like, but it’s possible you might find a home you like better than what you had in mind. That can help you get a great house, sometimes unexpectedly.

7. Check New Listings Right Away

You need to make sure you take a look at new real estate listings right away, so you can get in to see a home before others do. You don’t want to miss out on a great house because you didn’t take a look in time. That won’t always be what gives you the right house, but it can help you find what you’re looking for and give you an advantage.

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

Atha Team - Keller Williams Colorado West Realty LLC - Montrose, Ouray Ridgway

Copyright 2018 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 2018. All Rights Reserved.

Montrose Co Real Estate
Real Estate Statistics - Montrose Colorado MLS

What is causing the Jump in the High End Market? – July Real Estate Stats

Montrose Market

Montrose Colorado Real Estate Market Update Homes for Sale - Atha Team AgentsThe Montrose Colorado real estate market, along with the summer weather, has been unpredictably hot. The market under $300K has experienced an averaged 41% decline in available inventory over the previous 5.75 months of 2018, compared with the same period last year. Interestingly enough, total sales volume in Montrose Colorado is up 5.9% over the first 6 months of the year.

Housing inventory is down, yet total sales are up approximately 6% due to a shift in the mid and upper-end housing markets. This increase in activity in the $300-500K range is making up for tapering activity in the lower price ranges. Signs of overheating are beginning to emerge in the under $300K range, reflected in the 6.5% drop in homes sales under $300K from January through June. During the first two quarters of 2018, there has been a 30% upsurge in the $300-500K range. Explanation: The Boomers are coming.

National Market

Montrose Colorado Real Estate Market Update Townhomes for Sale - Atha Team AgentsNationally, the real estate market as a whole is flattening, evidenced by the decrease in units sold since the beginning of this year. June sales were down 0.6% from May of this year while existing home sales declined on an annual basis 5 out of the first 6 months of 2018. The primary explanation is not due to poor performance of the general economy but rather housing inventory depletion and steep price gains. Rising interest rates, though historically low, will most likely contribute to this leveling of sales activity as well.  Declines were mostly felt in the South and West while upticks were experienced in the Mid West and North East regions of the country. A 30-year fixed rate mortgage is currently at 4.6% (Home Sales Extend Slump Despite Economic Strength) (Pricey Housing Markets in West Are Cooling Off Most Quickly).

 

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July Residential Housing Statistics in Montrose Colorado - Presented by the Atha Team

 See other housing market stats posts by the Atha Team HERE.

 

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

Atha Team Montrose CO Keller Williams Real Estate AgentsCopyright 2018 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 2018. All Rights Reserved.

Montrose Co Real Estate
Real Estate Statistics - Montrose Colorado MLS

June 2018 – Montrose Colorado Real Estate Market Update

Montrose Colorado

Montrose Real Estate Market Housing Prices Continue to Climb as Lower End Houses are Harder to FindAs home prices continue to trend upward, the number of properties selling remained relatively flat in June. In relation to June of last year, the Montrose real estate market experienced a 15% gain in sale prices. Absorption/saturation rates have increased in the $400-500K price range as more properties have entered the market for prime selling season. Inventory levels still remain quite low under $400,000; a healthy market (an equal number of buyers and sellers) is considered 6 months of housing inventory. A positive note to mention is the number of sales in the middle price ranges comparative to years past.

Over the last 6 months:

  • 157 homes sold in the $200-300K range
  • 61 sold within the $300-400K range
  • 42 sales between $400-500K

Inventory Levels (Absorption/saturation)

  • 3.5 months supply of inventory in the $200-300K range
  • 3.6 months supply of inventory in the $300-400K range
  • 14.4 months supply of inventory in the $400-500K range
National Market

Seattle Skyline National Market Update - Credit Flickr.com SeryaniThe National real estate market has tapered in the number of sales over the first half of the year. New construction was a bright spot in the overall economy in May with new housing starts increasing 6.7% from the previous month (New Home Sales Surge on Rising Purchases in the South). Housing shortages and increasing interest rates are causing many prospective homebuyers to adjust their price ranges in what they can afford monthly. Mortgage rates are still historically low in comparison to the National average. Current rates on a 30-year fixed mortgage at 4.6%.

National home prices experienced an 8.7% gain over 12 months from April of 2017. San Jose (Silicon Valley), Las Vegas, and Seattle were the top three contenders for the most dramatic housing increases in the US. San Jose came in at a whopping 26%, Las Vegas 16.5%, and Seattle at 13.6%. San Jose is still the hottest job market in the US according to CNBC, which explains in part, the rapid demand and price increase for housing in that area (Home values are skyrocketing at the fastest pace since 2006).

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June Residential Housing Statistics in Montrose Colorado - Presented by the Atha Team

 See other housing market stats posts by the Atha Team HERE.

 

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

Atha Team Montrose CO Keller Williams Real Estate AgentsCopyright 2018 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 2018. All Rights Reserved.