Overall the Delta County real estate market continues to do very well. Sales have seen growth in both volume and overall sales numbers during 2016 compared to 2015. Some neighborhoods and segments of the market have seen some amazing price increases over the last two years as well.
The total number of sales, in all segments of the market, went up 3% in 2016. In raw numbers that is a total of 914 sales for 2016 compared to 885 sales in 2015. The total dollar volume went up 6%. In 2015 there were a total of $162 million in sales and we finished up 2016 with $172 million in sales.
The total number of sales over $1 million dollars was also up. There were 10 high end sales in 2016 that accounted for $15 million of the overall sales volume. In 2015 there were six sales over $1 million that accounted for $9.6 million of the total sales.
Foreclosure sales are continuing their downward trend. While the number of filings was steady with 101 in 2016 compared to 100 in 2015, the number of completed foreclosures went down 18% in 2016. That means there were 66 completed foreclosures last year and 80 in 2015.
Foreclosure resales held steady and made up 9% of the market in 2016 with 85 sales. In 2015 foreclosure resales made up 10% of the market with 86 sales.
I believe the Delta County, Colorado real estate market will continue showing signs of improvements, and we will continue to see values go up due to a lack of available inventory. I think interest rates will creep up during 2017, but I don't think we are going to see any big increases there.
If you would like more real estate, or general, information on this area, please don't hesitate to contact me. I look forward to hearing from you.
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.
**This information is courtesy of Heritage Title Company.
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