Montrose Q1 2025 Market Update Report

The real estate market in Montrose has been off in all areas except residential where average home prices are typically less than $500K. But a lot of folks are still really interested in the area. Montrose has been overly flat. There has been a lot of hesitancy on the political and economic fronts. There is still great interest in the area, but I feel like we will see more impacts of that interest next year. You will see below that the Lodging Tax has increased quite a bit, which is partially due to the New Marriott hotel in the Montrose along with the Lodge taxes increase that was passed for 2025.
| 2024 YTD | 2025 YTD | %+- | |
| VELOCITY (Source – MLS and City of Montrose of Sale Data) | |||
| Commercial Sales Volume |
$1,924,888 |
$4,637,888 |
140.97% |
| Commercial Transactions | 4 | 6 | 50% |
| VACANCY RATE | |||
| CAP RATE | 7% | 7.5% | 7.14% |
| SALES TAX INDICATORS (Source – MLS and City of Montrose of Sale Data) | |||
| All Sales Tax |
$6,427,470 |
$6,617,779 |
+2.96% |
| Lodging Taxes |
$30,729 |
$166,533 |
441.94% |