MESA COUNTY COLORADO REAL ESTATE MARKET UPDATE MAY 2016
May 2016 sales volume came in nearly 16% higher than April at a total volume of $96,984,734, WOW! The average residential sales price in May 2016 went up $6,844 to $236,920 and the May median price was up $5,000 to $205,000. The year to date for May values are $230,732 for the average residential price and $197,600 for the median residential price. It is wonderful to see our market on a continual RISE this year!
May sales show a drop in cash transactions from 31% to 24%, a small shift into a higher percentage of owner occupancy transactions. We are also still seeing some fast and competitive movement in many of the price ranges and low inventory in most segments of the market. There are currently 888 active residential listings here on the Western Slope (down from 970 at time of last month’s report) and our MLS is showing that there are 505 residential listings that are PENDING! With interest rates remaining below 4% for more loan types, we will continue to see new buyers come on to the market and we need more inventory to feed the summer hunger! Please think of me if you are thinking of selling your home!
Feel free to come to my next Your Home Buzz June 15 at 12:00 noon at Trader’s on 7th and Patterson, details below, to talk more about the market and what I can do to help you reach your goals!
Year to Date Volume for Current Month, $365,531,316
% Change, 14.93%
Current Month Volume, $96,984,734
Month over Month Volume Prior Year, $83,728,844
% Change, 15.83%
Average Residential Sales Price current month, $236,920
YTD Average Residential Sales Price, $230,732
Median Residential Sales Price for current month, $205,000
Median Residential Sales Price YTD, $197,600
# of transactions current month, 430
# of transactions YTD, 1589
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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