MESA COUNTY COLORADO REAL ESTATE MARKET UPDATE JANUARY 2016
January 2016 sales volume lower than December at a total volume of $40,938,528, which is only a 12.6% decrease from January of 2015 but more than a 50% decrease as compared to December 2015. This is not uncommon for the month of January, however. The average volume for January for the years 2010 through 2016 is $40,334,886, so historically we are right in there with our January 2016 volume. The average residential sales price in January 2016 was down to $215,664 and the January median price was up slightly to $191,750.
January sales show that 32% of transaction were cash which indicates a continuing heavy investor market. In the last 90 days, cash transactions have been closing at an average of 95% of the asking price.
Current data tells us we would need to have approximately 1000 active listings to have a balanced market and we are not that far off with current active residential listings at 943. However, as sales numbers continue to increase this spring, the balance can change. It is critical that we increase our inventory by listing new homes for sale for buyers to choose from.
Did you know that each 50 new jobs impacts our local economy by approximately $8.8 million?! Amazing! According to the Grand Junction Economic Partnership (GJEP), we will be welcoming 3 new businesses to our area over the next few years each bringing with them 50 new jobs for a total of 150 new jobs. There is a wealth of information available on the GJEP website. Below is a link where you can access tons of local data: http://gjep.org/data-demographics/document-library/.
HAPPY SPRING EVERYONE!
Year to Date Volume for Current Month, $40,938,528
% Change, 12.66%
Current Month Volume, $40,938,528
Month over Month Volume Prior Year, $46,871,783
% Change, 12.66%
Average Residential Sales Price current month, $215,664
YTD Average Residential Sales Price, $215,664
Median Residential Sales Price for current month, $191,750
Median Residential Sales Price YTD, $191,750
# of transactions current month, 211
# of transactions YTD, 211
For more details and information about YOUR Mesa County and Grand Junction, Colorado real estate market, feel free to call me directly at (970) 985-1525.
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