Glenwood Springs 2022 Q4 Market Update
The commercial market in the fourth quarter of 2022 was slow due to uncertainty in the market, high interest rates, and low inventory. I expect the inventory to increase early in 2023, which will bring up activity, but will more than likely put pressure on CAP rates. The one big bright spot is that there is an enormous amount of construction still in progress, and even in the planning stages, so I do not see our market having much of a correction.
| 2021 Q4 | 2022 Q4 | %+- | |
| VELOCITY (Source – MLS) | |||
| Commercial Sales Volume | $24,413,500 | $33,640,000 | |
| Commercial Transactions | 25 | 14 | |
| VACANCY RATE | N/A | N/A | |
| CAP RATE | N/A | N/A | |
| SALES TAX INDICATORS (Source – MLS) | |||
| All Sales Tax | $18,433,489 | $20,242,495 | |
| Lodging Taxes | $2,143,235 | $2,436,748 |
