Lack of inventory continues in Steamboat Springs. 60% of all closings were CASH. Short-Term Rentals is an issue. Steamboat City Council continues discussion. The City of Steamboat Springs is considering dormitory type housing to be built in Industrial Zoning. In addition: 65 Live/Work units and Industrial lots proposed at entrance of Steamboat Springs......
2021 Q3 2022 Q3 %+- Commercial Sales Volume $12,620,000 $9,553,605 -32.10% Commercial Transactions 5 8 37.5% VACANCY RATE n/a n/a CAP RATE n/a n/a SALES TAX INDICATORS All Sales Tax n/a n/a Lodging Taxes n/a n/a Market Comparisons Shown by Number of New Contracts and Dollar Amounts Click here to download the......
Chaffee County remains a strong market but is seeing some signs of the slowing and changes within the County. Commercial Real Estate sales volume of $21,702,500, with 23 transactions (YTD) through the third quarter of 2022, down by 51% compared to 2021 having $44,674,558 in sales volume consisting of 56 transactions. Residential Real Estate sales......
Montrose continues to enjoy a thriving real estate market. Here are a few recent developments: Expansion of Montrose Airport Terminal is in process. Black Canyon Boy & Girls Club purchased Casacade Movie complex to move into. Double Barrel Taco purchased 10 South Park to expand into. 2021 Q3 2022 Q3 %+- VELOCITY (Source – MLS......
PUBLIC POLICY CHANGES Mesa County – Measure 1A: A measure to allow for the expansion of the county’s capital fund for the purposes of using it to help refund revenues that exceed the TABOR limit to Mesa County residents. Grand Junction Measure 2A: A measure to increase lodging taxes by 1% with the funds going......
A few policy updates for the Delta County: The School Bond Issue on Ballot to fund capital improvements to local schools. The median sales price increased by 12.7% from same last quarter on housing. Lots of new commercial construction is underway: In the northeast area near the hospital: 9,000 sf River Valley Medical Clinic has......
City of Delta bought the historic Armory downtown building for their new Police Department. Asbestos removal is undergoing. The City of Delta along with the County purchased the former City Market 21,000 + building to renovate and relocate the downtown library. The current library building will then be the home of the Delta County’s Sherriff’s......
2021 Q2 2022 Q2 %+- VELOCITY (Source – MLS) Commercial Sales Volume $11,434,000 $12,825,000 Commercial Transactions 14 7 VACANCY RATE n/a n/a CAP RATE n/a n/a SALES TAX INDICATORS (Source – MLS) All Sales Tax $12,711,581 $13,631,042 Lodging Taxes $1,452,126 $1,603,657...
We have moved from a Seller’s market to a balanced market in residential real estate. Commercial real estate has not changed with low vacancy rates and stable cap rates. Breckenridge has less than a 1/2 of 1% vacancy rate in restaurant and retail space. 2021 Q2 2022 Q2 %+- VELOCITY (Source – Land Title Guarantee......
Old Russell Strover retail was purchased by Home Loan bank for bank and Enstrom’s Candies. City of Montrose purchased the downtown Wells Fargo branch for new city hall. Montrose Memorial Hospital has a property under contact to expand. 2021 Q2 2022 Q2 %+- VELOCITY (Source – MLS ) Commercial Sales Volume......