Why Are Home Prices Still So High?
The summer housing market in the Montrose Region has produced activity very similar to last summer. Sales for the last 3-months are relatively flat, though home prices continue to climb due to low inventory. Taking a wider view of the market, home sales are down 29% from September of 2022. Further, the winter and spring […]
Why Do Home Prices Continue to Rise?
The Montrose real estate market has hit record high values entering the traditional spring selling season.
Are Cash Buyers Back in the Game?
The Montrose real estate market has renewed since the most dismal winter for home sales on record. Improving since January’s lull, home sales have continued to mirror market activity similar to last spring. The median sale price for May was $480K or 0.54% higher than last spring, while tracking a 3-month trend. Unit sales, despite […]
Where is 2024 Housing Headed?
The Montrose real estate market has essentially stabilized over the last 12-months. Home prices and sales this spring are mirroring market activity very similar to the spring of 2023. Prices increased 1.3% over the last year to a median sale price of $461,750. Unit sales of homes are also similarly flat. Mortgage rates are approximately […]
Is the Luxury Market in Montrose Slowing?
The Montrose real estate market is primed for a spring revival as housing inventory volumes increase. The housing marketplace seems to be shifting into a buyer’s market over the $500K price range. With fewer buyers making acceptable offers, more properties have been lingering on the market in the upper-end price range during the winter months. […]
Declining Sales But Prices Going Up – January Real Estate Stats
A quick perusal of the graphs shows that despite the concern and ‘the sky is falling’ narrative preached by many, homes in Montrose still went up in price this past year relative to 2022. Yet unit sales continue to decrease, averaging over 23% over the last 3 months. The main consideration here is likely […]
Where is Housing Headed in 2024? – December Real Estate Stats
The Montrose market is quite slow for December relative to the last few years of activity. There are very few homes available for sale and very few buyers actively looking. The big meeting this week at the Federal Reserve will greatly affect what happens in the real estate market in 2024. All eyes are […]
A Chilly Draft In The Housing Market? – November Real Estate Stats
We’ve been experiencing a glorious fall here in Montrose, filled with sunny 60-70 degree days. As I write this now, a chilly, biting wind out of the south is signaling the changing of the guards. The real estate market in Montrose very much follows this pattern as well, as many people who purchase homes […]
Why Are Home Buyers Reassessing? – October Real Estate Stats
The Montrose Real Estate market is following suit with the traditional fall-season slowdown. Kids are back in school and the cooler temps are ushering in the closure of the typical home-purchasing season. Homes are selling, albeit taking longer to sell than what the market has been accustomed to. The housing Inventory is averaging 3.6 […]
Shortest Housing Cycle Ever? – September Real Estate Stats
The Montrose real estate market experienced a resurgence of home prices in August. The surge in the median sale price of existing homes was due to an increase in luxury home sales; 8 of the 9 highest-selling homes in August were purchased with cash. The increase in greenback purchases in the upper-end market is […]