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November 2016 Montrose CO Real Estate Stats – Sales & Available Foreclosures

November 2016 Montrose CO Real Estate Stats – Sales & Available Foreclosures

Baby It’s Warm Outside

The Montrose real estate market is still quite active as warm weather in November inspired Buyers to place offers on homes left-over from the summer. The volume of home sales activity in Montrose has been anything but cold. The number of homes sold in November was 22% higher then the previous 5-year average and 30% higher than November of last year. This is quite abnormal to what the industry is used to here in Montrose Colorado.

Montrose home inventory is painfully low as many homes have now left the market for the season. This has given an advantage to those looking to sell their home during the winter months, enabling properties to stand out among the enlarged buyer pool.

Time to Throw Confetti?

It’s true; national home equity values are now above record peak levels that were prior to the Great Recession (Housing Prices Exceed Housing Boom Levels). The caveat is that this figure is based solely on the Chase-Schiller Index and is not quite adjusted for inflation. According to Zillow economists (which factored in inflation), national home prices are still 2.7% below peak values, which is still pretty darn good considering we just climbed out of the most disastrous recession (that was created through the housing and mortgage industry) since the Great Depression (Home Prices Recover Ground).

Interest Rates Awaken

Actually, the new Star Wars Movie coming out on the 18th of December has nothing to do with interest rates, but a rise is coming and is already here. Rates on a 30-year fixed mortgage have jumped from 3.57% to 4.13%; this is a little over 1/2% jump since August. If already struggling affordability gets worse, due to a decrease in affordability on a monthly mortgage payment, don’t be surprised if these bloated home prices level-out over the next year.

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Copyright 2016 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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