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 $214,450, but we also saw our number of active listings rise from those extremely low levels to right about where they should be. Our total active listings for single family homes as of May 1st was 896. That’s up 27% from the month of March!
Another interesting stat to note in the April market report is the number of residential building permits issued for the first quarter of 2017. We saw a 57% percent increase from the first quarter of last year (2016). New construction homes are hot right now!
Tip: Hover over each bar in the graphs to get detailed numbers.
MESA COUNTY HISTORICAL GROSS SALES VOLUME
RESIDENTIAL INFORMATION FOR MESA COUNTY
All data, except where noted otherwise, is reported from the GJARA MLS and believed to be accurate but is not guaranteed. Figures shown reflect MLS transactions only and do not include transactions without a realtor. Except where noted, figures reflect residential sales of single family homes, condos and townhouses.
TOTAL SALES VOLUME ($MILLIONS)
Number of Sales
Median Sales Price April 2017: $214,450
Number of Active Listings April 2017: 896
Average Days on Market April 2017: 95
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
Grand Junction City: $166,950
NE Grand Junction: $204,900
North Grand Junction: $249,900
SE Grand Junction: $190,000
RESIDENTIAL BUILDING PERMITS ISSUED IN MESA COUNTY
Reported from the Mesa County Clerk & Recorders office and believed to be accurate but is not guaranteed.
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.