What is the Future of Luxury Real Estate in Montrose? – March Real Estate Stats
Montrose Market For the 2nd month in a row, unit sales in Montrose are down in the neighborhood of 40%. We are beginning to see some interesting deviations happening in specific price ranges in Montrose as well, which resemble pre-pandemic levels. Price ranges between $600k and $800k are increasing in supply rapidly, up to […]
Is It Really All About the Rates? – February Real Estate Stats
Montrose Market The real estate market is experiencing a typical winter with cool sales and lower inventory levels. Colorado Front Range buyers are avoiding the winter passes while local residents wait for spring to list. Buyers are adjusting their expectations in the new rate environment even though monthly payments are significantly higher than 12 […]
What the Heck Happened in 2022? – January Real Estate Stats
Montrose Market Looking at last year’s real estate market and further back to 2015, one can observe the monumental wealth created through home ownership in the Uncompahgre Valley. Over the past seven years, homeowner’s net worth increased by 50% in Montrose, adding approximately $200,000 to household real estate values. Local and out-of-area demand continued […]
A Long Winter Ahead for Real Estate? – December Real Estate Stats
Montrose Market The Montrose real estate market is currently experiencing a traditional winter season in relation to market activity, similar to 2017 and 2018. Housing inventory has increased 22.5% since its low in March but still remains tight with 3.1 months of inventory in November. Home prices in Montrose are down 10% from a […]
Newsflash! Montrose is Still a Seller’s Market – November Real Estate Stats
Montrose Market There is a lot about living in Montrose that is unique, compared to most of the rest of the state and country. The housing market is no exception. If we simply take a look at three simple barometers of the local real estate market below, Montrose is still in a seller’s market. […]
Is Montrose Insulated From A Future Correction? – October Real Estate Stats
Where are we currently and where are we headed? The Montrose real estate market is continuing to cool to a manageable pace it once was before the urban flight and pandemic of 2020. We’re seeing numbers reflect what was the market of 2019, with about 15 properties going under contract per week during […]
What is Happening to Home Prices in Montrose? – September Real Estate Stats
If you follow our monthly real estate market reports for Montrose, you’ll recall that July experienced a drastic reduction in unit sales in Montrose. Isolating numbers without proper context can yield to some shaky assumptions, and any thought that Montrose real estate was ‘crashing’ is answered emphatically by the month of August. You’ll see that […]
Are Home Sales Really Down 46%? – August Real Estate Stats
The Montrose real estate market is adjusting to find its new stride amidst several recent changes over the past several months. Buyers, sellers, real estate agents, and mortgage lenders are all attempting to make sense of the market, all the while reeling from the recent and fast-paced fluctuations. Mortgage rates have been extremely […]
Is the Housing Tide Receding back to Normal? – July Real Estate Stats
Montrose Market The Montrose market is in the midst of a shift toward a more balanced seller’s market. The most recent rate increases have sent shivers down the spines of borrowers as mortgage rates now float near 6%. Keep in mind that a 6% mortgage rate is nothing noteworthy relative to the historic average […]
Will Retired Trail Hikers Anchor the Montrose Housing Market? – June Real Estate Stats
Montrose Market Heading into the traditional summer months of the housing market, demand is steady so far while also displaying some early signs of leveling. Homes that typically would fly off the shelf, are now taking slightly longer to sell. Sellers are still experiencing multiple offer situations on their homes, albeit fewer competing offers […]