Montrose Q2 2023 Market Updates
Developments – What is happening
- Market has slowed but still stronger.
- There is more inventory and price reductions in all categories.
- Working on several tax protests with some very positive success.
- Enstrom Toffee is open.
- Marriott Fairfield Inn will be completed this Fall.
- New airport terminates with baggage claim should be completed this fall.
| 2022 Q2 | 2023 Q2 | %+- | |
| VELOCITY (Source – MLS) | |||
| Commercial Sales Volume | $18,651,500 | $12,989,488 |
|
| Commercial Transactions | 27 | 19 |
|
| VACANCY RATE | N/A | N/A | N/A |
| CAP RATE | 6.2% | 6.7% | |
| SALES TAX INDICATORS (Source – City of Montrose ) | |||
| All Sales Tax | $9,956,775 | $10,307,428 |
|
| Lodging Taxes | $45,997 | $52,613 |
