Montrose County Q1 2023 Market Update

Montrose County Q1 2023 Market Update

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Developments – What is happening

The Montrose market has been mixed. There are still several cash buyers that are looking for properties in the area. Interest rate increases purchases requiring a loan. The economy has been strong with lots of people and businesses moving into the area.

 2022 Q12023 Q1%+-
VELOCITY (Source – MLS)   
Commercial Sales Volume$11,705,500$7,334,788-37.34%
Commercial Transactions159-40%
CAP RATE6.26.78%
All Sales Tax$3,607,704$3,774,9534.64%
Lodging Taxes$14,905.00$15,422.003.47%

About The Author

John Renfrow, Renfrow Realty

A real estate professional since 2003, John Renfrow is owner of Renfrow Realty in the Montrose-Delta area. Now in its fourth generation, Renfrow Realty has been a trusted real estate source since 1986. John and his father, Jim Renfrow, bring a combination of business expertise and a lengthy track record in real estate to every real estate transaction.