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......
Chaffee County continues to see a strong housing market. Commercial Real Estate sales volume of $13,092,500, with 15 transactions (YTD) through the second quarter of 2022, down by 29.9% compared to 2021 having $18,689,250 in sales volume consisting of 28 transactions. Residential Real Estate sales volume through the second quarter of 2022 up 12.3%, totaling......
The commercial real estate market traditionally follows residential market trends, at a slower pace. As the 2nd quarter ends, the buyer demand for commercial real estate still is in demand, but inventory is slow to come on the market. A little more than did in 2020 and 2021 for residential. Still, Realtors® are reporting a......
PUBLIC POLICY CHANGES • Marijuana Regulations: City adopted ordinance No 5070 May 6th for standards, and all applications were due by June 8th. 26 of those applicants were selected to move forward to public hearings. We should have final results of the 10 final licenses in 30-60 days.• City is adopting a 2022 Annual AcLon......
We are just beginning to notice things slowing down in the real estate marketing in Crested Butte, but here are some notable transactions recently: Key Motel 911 N Main Gunnison Colorado: 30,330 SF, 59. Sold at $5.6 Million. True Value (Anchor Tenant) Building, Gunnison, Colorado: 31,000 SF, 2.41 Acres, 4 Units. Sold at $2.3 Million.......
The first six months of 2022 have been strong in Aspen in all categories from commercial leasing, residential sales, retail sales and lodging taxes. Commercial lease rates have doubled and residential property prices have increased 59% to 66% in the past 18-months. In the first half of 2022, we had one office/retail building sale at......