Montrose Market Report: Q1 2024
Developments – What is happening
- There is a lot of cash that is coming into the area. Montrose has been found.
- But also interest rate environment has effected the more local buyer in the area.
- There has been an increase in inventory on Commercial property both for sale and lease.
- Residential inventory has continued to be low.
| 2023 Q1 | 2024 Q1 | %+- | |
| VELOCITY (Source – MLS) | |||
| Commercial Sales Volume | $6,189,000 | $1,924,888 | -221.53% |
| Commercial Transactions | 9 | 4 | -125% |
| VACANCY RATE | N/A | N/A | N/A |
| CAP RATE | 7% | 6.5% | 7.69% |
| SALES TAX INDICATORS (Source – City of Montrose ) | |||
| All Sales Tax | $3,774,953 | $4,047,543 | 5.87% |
| Lodging Taxes | $114,976 | $109,784 | 2.26% |
