Montrose County Q1 2023 Market Update
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 Q1 | 2023 Q1 | %+- | |
| VELOCITY (Source – MLS) | |||
| Commercial Sales Volume | $11,705,500 | $7,334,788 | -37.34% |
| Commercial Transactions | 15 | 9 | -40% |
| VACANCY RATE | N/A | N/A | N/A |
| CAP RATE | 6.2 | 6.7 | 8% |
| SALES TAX INDICATORS (Source – MLS ) | |||
| All Sales Tax | $3,607,704 | $3,774,953 | 4.64% |
| Lodging Taxes | $14,905.00 | $15,422.00 | 3.47% |
