Market Updates
Recent Sales We closed on two deals for Les Schwab Tire Dealership recently: one in Delta (Corner of HWY 92 & Stafford Drive) with one developer, and one in Montrose (1901 South Townsend ave) with a different developer for Les Schwab. It was interesting to work with two different developers for the same entity. I......
The momentum remains slow however market values continue to be stable due to continued shortage of commercial properties for sale. Commercial properties in Telluride are typically an education process and therefore are slower to transact, we continue to see this slow momentum. Higher interest rates are also slowing down buyer momentum. 2022 Q2 2023......
Developments – What is happening Market has slowed but still stronger. There is more inventory and price reductions in all categories. Working on several tax protests with some very positive success. Enstrom Toffee is open. Marriott Fairfield Inn will be completed this Fall. New airport terminates with baggage claim should be completed this fall. ......
This current market segment experienced strong upward movement in value for the years of 2020-2022 and several properties traded during this timeframe. During this timeframe, we saw a shortage of new available properties in this market segment and this drove pricing upward. The momentum has slowed considerably however market values are currently stable due to......
NOTES: The Yampa Valley Housing Authority’s Mid Valley project, an effort to build workforce housing for the “missing middle,” is getting a $4 million boost from a state grant. ● As planned, the Mid Valley housing project includes 84 for-sale condominiums and 150 apartment units for rent. All of the units will be deed-restricted and......
DEVELOPMENTS City of Delta with One Delta County Economic Alliance is starting a workforce housing project on 7 acres. Working on grants funds and design now. City of Delta was awarded over $13 Million for Main St / Hwy 50 downtown street improvements New Industrial Park planned. Received grant funds for infrastructure on 16......
PUBLIC POLICY CHANGES Retail marijuana licenses: Voters approved a measure allowing recreational marijuana stores in the city in April 2021. City Council approved the process by which licenses would be chosen in May 2022. During the application period, which closed June 8, 2022, the city received 47 applications, 29 of which were approved for the......
NOTES: The Commercial real estate sales in Routt County holding steady but inventory is low. There is room for new construction if you can find the land to do so. There will be redevelopment happening around the corner. There are a lot of retail spaces changing hands, and restaurants, Breweries, and Distillers are coming alive.......
Chaffee County remains a strong market with keeping fairly consistent with sales volumes compared to this time a year ago within the County. Commercial Real Estate sales volume of $3,698,644, with 6 transactions (YTD) through the first quarter of 2023, down by 28% compared to 2022 having $5,104,000 in sales volume consisting of 5 transactions.......
Developments – What is happening The Montrose market has been mixed. There are still several cash buyers that are looking for properties in the area. Interest rate increases purchases requiring a loan. The economy has been strong with lots of people and businesses moving into the area. 2022 Q1 2023 Q1 %+- VELOCITY (Source......