Glenwood Springs 2022 Q4 Market Update

Integrated Mountain Properties logo on blue background for Glenwood Springs real estate 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

About The Author

scott dillard is the leading commercial real estate broker in glenwood springs/carbondale, bringing many years of experience in commercial real estate leasing, sales and development, sdillard

Scott Dillard is the leading Commercial Real Estate Broker in Glenwood Springs/Carbondale, bringing many years of experience in commercial real estate leasing, sales and development. Being one of the very few CCIM designees (Certified Commercial Investment Member) on the Western Slope confirms that Scott Dillard is a recognized expert in the commercial and investment real estate industry.