The Aspen Snowmass residential market has slowed to pre-COVID levels in terms of the number of closed transactions. Average and median residential sold property prices throughout Pitkin county have stabilized after the big increase in values from mid-2020 through mid-2022. On the commercial side, retail rents in downtown Aspen continue to set records with the......
NOTES: Residential Market has held prices steady while supply continues to decline. Buyers have a smaller market to buy from and rates haven’t come down yet. Commercial sales have stalled somewhat with investors looking for higher cap rates and more seller financing deals. Affordable housing is still the goal with sellers still asking higher prices......
PUBLIC POLICY CHANGES Mesa County Measure 1A, 1B, 1C, 1D: A measure to allow elected candidates for Assessor, Clerk and Recorder, Surveyor, and Treasurer to expand term limits for that office by one additional year (for a max. three terms): 34.21-39.5% yes/60.5-65.8% no City of Grand Junction Measure 2A: A measure to allow members of......
Developments – What is happening Market has been extremely strong. Lots of monies from from out of state area coming into Montrose Area. There is not much inventory either for sale or lease. Several of these transactions were Owner Carry. On the downside, several other transactions were terminated due to conventional financing interest rates. Overall,......
Developments: The surge in apartment construction was particularly evident in the southern and eastern regions of Downtown Colorado Springs, along the Powers Blvd. corridor, and in the rapidly expanding northern part of the city. In 2023, interest rates rose as the Federal Reserve aimed to control inflation, adversely impacting the housing market in Colorado Springs.......
NOTES: As 2023 ends, the buyers’ demand for commercial real estate is still in high demand but prices are softening depending upon inventory, type of use, and price. The commercial real estate market in Steamboat traditionally follows residential market trends but at a slower pace and it has also slowed for all the same reasons.......
NOTES: During the first seven months of 2023, we’ve seen an increase in inventory leading to some softening in prices, but still a significantly stronger market then pre-pandemic levels prior to 2020. At the end of July, the total number of residential properties on the market for sale throughout the Aspen Snowmass market was 22%......
DEVELOPMENTS The Air Force decided that U.S. Space Command’s permanent headquarters will remain in Colorado Springs, instead of moving to Huntsville, AL. A developer’s plans to build nearly 500 additional homes and more business space in an existing undeveloped subdivision near Peterson Space Force Base on Colorado Springs’ east side earned unanimous approval on Tuesday......
DEVELOPMENTS Clifton Mesa County Sheriff’s Office (project completed): The new 3,500 sq.ft. substation at 126 2nd Street will provide quicker response times and more frequent patrolling. Clifton Branch Library (under construction): The new library will be built next to Rocky Mountain Elementary School at 3270 D½ Road. The 17,800 sq.ft. library will be about three......
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......