This week as usual there is the weekly update of sold properties and under contract properties for the last 7 days in the Montrose Area, plus the first 3 quarters sales numbers as compared to the last 3 years for the same period.
This is the Residential Sales for the first 3 quarters of the year Jan 1 thru Sept 30
# of Homes SOLD # Bank Owned Avg Days on Mkt Median Sold Price Pr/sq ft
2008 387 8 151 $195,000 $122
2009 304 31 155 $180,000 $115
2010 284 61 171 $177,500 $108
2011 292 104 169 $145,000 $ 87
As you can see the number of homes sold has slightly increased since last year, but the number of bank owned homes selling has increased dramatically, this year so far bank owned properties selling represents about 36% of sales. The median price of a home has dropped to $145,000 which is a direct result of the increase in foreclosure sales.
At any one time the number of foreclosed homes for sale is around 50 which is 10% of the for sale market.
One thing that I have noticed this year is that the number of homes receiving notices of foreclosures has dropped a lot. Although there is not a way to track it exactly, here is what I have seen. in all of 2010 there were 383 properties in Montrose county that received notices of foreclosure, so far in 2011 the number of foreclosure notices is at 211 year to date. With just under 3 months to the end of the year the total number probably won't reach 260 so that will be a significant decrease, this will help stablize the market.
Here is the list of properties that sold this past week.
18700 Hwy 550 $60,000 1992 built hm on 3/4 acre 1008 sq ft 2 car garage.
351 Indiangrass $125,000 2008 built townhome 1065sq ft 3 bd 2 ba
1340 Animas $126,000 A Foreclosed hm 1462 sq ft 3 bd 2 ba
1521 Barbara $130,000 A Foreclosed hm 2281 sq ft bi level 4 bd 3 ba
2052 Princton Way $135,000 1540 sq ft ranch hm 3 bd 2 ba
1800 Hill St $143,700 A Foreclosed hm 1800 sq ft
TBD Galaxy $200,000 25 finished residential lots
61295 V60 Trail $252,000 2394 sq ft hm on 35 acres
65310 Solar Rd $305,500 A Foreclosed hm on 7 acres 1892 sq ft
16352 5790 Rd $309,000 A Foreclosed hm on 35 acres borders BLM
62676 Ida Rd $3,900,00 758 acres plus 2715 sq ft hm large steel buidings.
Here is the list of properties that went under contract in the last 7 days. The price you see on this list is the asking price and does not reflect the price at which the property maybe under contract.
TBD Buckhorn RD $31,000 foreclosed 4 acre lot pinion and juniper trees
1322 Bighorn $125,000 Townhome 1065 sq ft 2 bd 2 ba
1208 Hemlock $129,900 A Foreclosed hm 1501 sq ft 3 bd 2 ba
270 Ranch Ct $134,900 A foreclosed hm 1894 sq ft 4 bds
316 Colonial $154,900 A foreclosed 2 story hm 1941 sq ft
751 Silver $158,000 immaculate modular 1630 sq ft
2345 A Phillips Ct $167,500 Remodelled townhome 1946 sq ft backs up to golf
1318 Leeds $179,550 ranch with basement 2850 sq ft
59313 Ida Rd $200,000 old victorian on 7 acres
20891 Solitude $399,000 Santa Fe style hm on 4 acres 3176 sq ft views
14810 6720 Rd $995,000 160 acres small farmhouse 120 of it irrigated.
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