Montrose Q4 2024 Market Update Report
The Montrose market been flat or decline commercially. Residentially market is still fairly active on houses lease than $500K.
I am excepting a rebound latter this year – interest rate having been coming down and wit the election over. Montrose is well position for the future. There has been a lot of interest in the area just not a lot of transactions.
| 2023 YTD | 2024 YTD | %+- | |
| VELOCITY (Source – MLS and City of Montrose of Sale Data) | |||
| Commercial Sales Volume |
$4,670,000 |
$1,350,000 |
-71.09% |
| Commercial Transactions | 6 | 2 | -66.67% |
| VACANCY RATE | |||
| CAP RATE | 6.5% | 7.5% | +15.3% |
| SALES TAX INDICATORS (Source – MLS and City of Montrose of Sale Data) | |||
| All Sales Tax |
$24,395,422 |
$25,329,490 |
+3.83% |
| Lodging Taxes |
$193,403 |
$181,713 |
-6.04% |
