Residential Construction in Grand Junction, CO

By
Real Estate Agent with RE/MAX 4000

NewResidHousingData_2017

Grand Junction Residential Construction and the Hot Neighborhoods

Much has changed in Grand Junction residential construction since 2007 when Mesa County's economy and housing market were on the rise, thanks to a natural gas boom that brought jobs, workers and a housing shortage. When natural gas prices plummeted at the end of 2008, jobs disappeared, the workers left and new subdivision plans were shelved.

The real estate market began a steady dive, bottoming out in 2010 when there was only 170 new home constructed and only 1,696 homes sold.  Starting in 2011, existing homes started to pick up, but the growth was slow and painful.  The Front Range was booming, while Mesa County seemed to drag along.

In 2017, the real estate market broke into a sprint with homes selling in the first week they were listed, multiple offers and high demand from out of area buyers.

Today, construction is everywhere, and nowhere is it more evident than in the new home market.  The map above highlights the hot spots for new home construction that began in 2017.  The map shows a clustering of activity to the north near 25 and F 1/2 Road (Copper Creek North and Heritage Estates Subdivision), to the east near 30 and D 1/2 Road (Pear Park North, Apple Acres, Wexford Estates and Rivertrail Subdivisions).  Also, within the Spyglass Subdivision near 27 and B Road and 29 and B 1/2 Road (Mountain View Estates Subdivision).

New home sales for 2017 totaled 445 units with a volume of $125,613,424.  New home sales were 8% of the market with an average price of $281,814 and an average per square foot  PPSF cost of $141.

In total, 1726 new subdivision lots were submitted for review by the City in 2017.  Of those, 283 new lots were approved, 316 were withdrawn from review and the remaining 1,127 are still under review.  Of those lots, 625 are attributed to the proposed Mosaic development at 23 Road and H Road.

Grand Junction residential construction in 2017 was a 12% increase over 2016.

Are you looking for a Grand Junction home?  Call Sandra (970) 261-1686 for expert guidance, personal tours and professional representation.

Market statistics courtesy of Mea County, deemed reliable but not guaranteed.

Posted by

Sandra Mathewson

CRS ABR GRI SFR CDPE

RE/MAX 4000 Inc.

call or text (970) 261-1686

I am Sandra Mathewson, a full-time Realtor working both as a listing agent and a buyer's agent. I love using the internet to meet people and keep in touch with friends and clients. I write this blog to show you why Grand Junction, Fruita, Palisade and surrounding real estate is truly something to be desired.

Visit my GrandJunctionHomesGuide.com website if you are considering buying or selling. You will find it as your best online source of information. How is the market doing? I'll keep you posted with the most current MLS reports. You can also search for homes for sale in Grand Junction (including Fruita, Palisade and surrounding areas). Read about the communities, events and things to do in this great Grand Junction, Colorado Lifestyle.

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