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......
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.......