2015 Year End Real Estate Information Delta County, CO
I know I'm a bit late in getting this information out, but here is it. The 2015 market was much improved over the 2014 market. I don't have a magic crystal ball, but I think 2016 is going to show further market improvement.
Overall the number of real estate transactions was up by 26% in 2015. There were 885 total sales compared to 702 in 2014. These numbers represent transactions in all categories...residential, farm/ranch, commercial, ect.
The total dollar volume went up 24%. So in 2015 there were $162 million in reported sales compared to $130 million in 2014. The largest sale last year was for $3.1 million. It was a residence on substantial acreage in the North Fork area of the county.
Foreclosures continue to fall. Last year the resale of foreclosed property made up 9.7% of the market compared to 15% in 2014.
Click on the picture for more local and real estate information.
At this time we are experiencing low inventory throughout the county. We can really see this in the residential segment of the market. So for sellers...NOW is a great time to list your home. Lower inventory means less competition for you. I expect we will see the number of listings go up as we get closer to the late spring and summer seasons. Call me for more information on how to get your home on the market.
If you are thinking of buying a home, you might want to act sooner rather than later. With the lower inventory and improved market, we are starting to see prices go up. At this time the interest rates are still down. Now is the time to take advantage of this situation. It's an election year and I think we are going to see lower interest rates continue for a while, but I can't predict how long this will last. This is where that crystal ball would come in handy.
I've lived on Colorado's Western Slope for over 26 years. I love this area and all it has to offer, and I enjoy sharing what I know about my home. As a REALTOR®, I also love to share my expertise in this area as well. If you need any real estate information for Montrose County, or Delta County, Colorado...please give me a call.
***Market statistics are courtesy of Heritage Title Company.
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