April 2017: Grand Junction Real Estate Market Stats

During the month of April, the local real estate market continues to look good! We are seeing steady growth and right now we are experiencing the strongest market since 2008.

Remember that during the month of March we saw an extremely low level of active listings, which caused the median home value to go up significantly. During April the median home price continued the trend at $214,450, but we also saw our number of active listings rise from those extremely low levels to right about where they should be. Our total active listings for single family homes as of May 1st was 896. That’s up 27% from the month of March!

Another interesting stat to note in the April market report is the number of residential building permits issued for the first quarter of 2017. We saw a 57% percent increase from the first quarter of last year (2016). New construction homes are hot right now!


Tip: Hover over each bar in the graphs to get detailed numbers.

MESA COUNTY HISTORICAL GROSS SALES VOLUME

Reported by Advanced Title Company

RESIDENTIAL INFORMATION FOR MESA COUNTY

All data, except where noted otherwise, is reported from the GJARA MLS and believed to be accurate but is not guaranteed. Figures shown reflect MLS transactions only and do not include transactions without a realtor. Except where noted, figures reflect residential sales of single family homes, condos and townhouses. 

TOTAL SALES VOLUME ($MILLIONS)

Historical

Monthly

Number of Sales

Historical

Monthly


 
median-sales-price
 

Median Sales Price April 2017: $214,450

 
activelistings
 

Number of Active Listings April 2017: 896

 
days-on-market
 

Average Days on Market April 2017: 95

Monthly Comparison

Historical Comparison


ON AVERAGE HOMES SOLD FOR 98.71% OF THEIR LIST PRICE IN April 2017


INVENTORY BY PRICE RANGE

April 2016 - April 2017

Use this chart on single family residential absorption rates to determine how long it takes to sell a home in each price range. For example, if you have a home listed at $250,000, it will take about 4 months to sell (in perfect circumstances).

PRICE RANGE SOLD LISTINGS ACTIVE LISTINGS MONTHS OF INVENTORY
0 - 100K 73 16 2.6
101K - 200K 1050 277 3.2
201K - 300K 1093 402 4.4
301K - 400K 343 161 5.6
401K - 500K 180 90 6.0
501K - 700K 86 93 13.0
701K - 1 MILLION 19 44 24.8
1 MILLION + 8 24 36.0
:

MEDIAN SOLD PRICE BY AREA

April 2017

median-sold-price

Grand Junction City: $166,950

NE Grand Junction: $204,900

North Grand Junction: $249,900

Clifton: $145,000

SE Grand Junction: $190,000

Redlands: $305,000

Fruita: $247,500

Palisade: $195,000


RESIDENTIAL BUILDING PERMITS ISSUED IN MESA COUNTY 

Historical

Quarterly

Reported from the Mesa County Clerk & Recorders office and believed to be accurate but is not guaranteed.


MORTGAGE RATES

30 YEAR FIXED RATE: 3.81%

15 YEAR FIXED RATE: 3.05% 

Mortgage rate information provided 5/01/17 by Zillow.


2017 Q1 RENTAL INFORMATION

GRAND JUNCTION VACANCY RATE: 2.1%

AVERAGE COLORADO VACANCY RATE: 5.7%

Information provided by Colorado Department of Local Affairs.