Montrose Colorado Real Estate 2010 Review.. Prediction for 2011.
Here are the Residential Home Sales Stats for 2010 for Montrose City and County compared to 2009.
# of Homes Sold Avg Days on Mkt Median Sales Price Av Pr-sq ft
2010 358 175 $178,250 $107
2009 395 164 $204,371 $115
As you can see the number of homes that Sold in 2010 dropped by 37. The number of Foreclosed homes that Sold in 2010 was 83. That compares to 44 foreclosed homes that Sold in 2009. This is almost double the amount of foreclosures selling from a year ago. This represents about 24% of home sales are foreclosures.
Currently there are 531 Homes For Sale in the Montrose area. 48 of those homes are foreclosures looking for new owners.
Here are the Residential lot sale numbers for 2010
In the County there were just 14 lot sales all year, average days on the market is 340 days. In the City there just 17 lot sales. This is a far cry from the boom days when 400 lots a year were selling, when 14 or 17 lots would be 2 to 3 weeks of lot sales. There are over 500 residential lots listed for sale currently. That is they are actively been marketed. There are probably at least that many more lots that are finished that are not listed for sale and nobody is trying to sell.
Overall the market continues to slowly decline. I look for that trend to continue in 2011 with the amount of foreclosures remaining about the same. I believe Lot prices have a lot more movement in price before any increase in sales will occur. It appears at this time that any lot in the City priced under $30,000 has a good chance of selling, this seems to be where the price point is that triggers a sale, as 9 of the lots that sold were in the mid to upper 20's.
In the County it is a little harder to arrive at a price point that would create a sale. My opinion is somewhere in the 60's.
Here at Coldwell Banker Bailey & Co our company business was up 22% form 2009. In 2010 we closed 172 Real Estate Transactions. In this market with less sales that is something to be proud of. It all comes down to the hard working dedicated agents that we have working at this company.
On a personal note I closed 3 more transactions in 2010 than 09 for a total of 22 for a total sales volume of $4,831,500 that ranks me #8 in the Montrose/Ridgway area for total sales in 2010. I continue to look for ways to market properties for sale. This March myself and some of the other agents at this compnay are going to the Coldwell Banker Convention in Las Vegas to learn many new things as the world of technology and social media are for ever changing. Dedication and hard work makes us successful.
If you have any questions feel free in contacting me, either by phone 970-209-8436 or alanbrownrealtor@gmail.com If you are interested in buying or selling Real Estate in this area contact me.
Comments(0)