Glenwood Springs Market Update Q1 2022
Glenwood Springs continues to have a strong commercial sales market for 1st quarter 2022. Investors are still looking for a solid ROI, and strong tenant demand continues in this area. The industrial sector still has a lag of supply to demand, as businesses continue to look for warehouse and lease spaces.
The lack of commercial land is also becoming more apparent as 2022 continues.
The housing market still has a lack of supply to demand, with increases in square footage price and lower days on market. Glenwood hasn’t seen much of a drop in the market demand even after the interest rates have increased.
| | 2021 Q1 | 2022 Q1 | %+- |
| VELOCITY (Source – Land Title) | | | |
| Commercial Sales Volume | $314M | $60.8M (through April) | -80.64% |
| Commercial Transactions | 144 | 10 (through April) | -93.06% |
| CAP RATE | 6% | 5-6% | |
| Range of NNN Rental Rates on Commercial Properties 2021/2022 | $12-$35/sqft | ||
| SALES TAX INDICATORS (Source – County Docs, City Sales Tax) | | ||
| All Sales Tax | $22M | $3M (YTD Feb 2022) | -86.36% |
| Lodging Taxes | $241K | $329k | 36.51% |
