Montrose Q2 2024 Market Report
Developments – What is happening
Market is still strong but is slowing. There are more listing as well as more price reduction. Inventory is still low and Buyers are still looking to come into the area; but I am see some distressed properties coming on line which I have not seen in some time.
| 2023 Q1 | 2024 Q1 | %+- | |
| VELOCITY (Source – MLS) | |||
| Commercial Sales Volume | $6,800,488 | $3,404,000 | -99.78% |
| Commercial Transactions | 10 | 6 | -66.67% |
| VACANCY RATE | N/A | N/A | N/A |
| CAP RATE | 6.5% | 7.25% | 10.34% |
| SALES TAX INDICATORS (Source – City of Montrose ) | |||
| All Sales Tax | $8,086,013 | $8,613,574 | 6.52% |
| Lodging Taxes | $36,725 | $42,083 | 14.59% |
