(970) 445-8227

matteilers@aol.com

How did real estate perform in the 1st quarter of 2015?

Let’s look at how 2015 1st quarter did vs 2014 1st quarter.
The following is for all sales on the GJ area MLS by reporting agents/companies.
This is for single family homes excluding modular and manufactured built homes.

1ST QUARTER:
# of Sales 2015:   455               # of Sales 2014: 392
Median Sales Price 2015: $186,900
Median Sales Price 2014: $180,000

Median Days On Market 2015- 109 days
Median Days On Market 2014- 104.5 days

REO/HUD/Short Sales 2015- 16.47% of total sales
REO/HUD/Short Sales 2014- 23.7% of total sales

Areas with Median Sales Price for 2015 for 1st Qtr Sales
Redlands- $277,500
North- $242,250
Fruita- $219,900
NE- $179,900
SE- $167,450
Orchard Mesa: $171,450
GJ City: $147,650
Clifton: $139,150

Observations:
*# of sales in the 1st quarter of  2015 vs 2014 was up 15.82%.  This will be interesting to see if demand stays strong for the remainder of 2015 or if this uptick in sales in the 1st quarter was somewhat aided by our warmer temperatures over the winter.
*The number of REO (bank owned), HUD, & Short sales dropped from roughly 1 in every 4 sales in 2014 to 1 in every 6 sales in 2015.  This is a positive in my opinion as the fewer bank, hud, short sales that are on the market, the less competition for the average homeowner that is selling that might have to compete against a bank pricing a tad lower than market to sell their inventory.
*With the positive news of a big uptick in # of sales and fewer REO/HUD/Short Sales, the median sales price only increased by 3.83%.  Not bad but a lot lower when you compare to the Front Range (Denver, Ft. Collins…) where real estate appears to be hot, hot, hot over there.
On the flip side, good news for those that are or will soon be in the market to buy as they can take advantage of low interest rates and still find a home at an affordable price.

Have specific real estate questions or are considering buying or selling?
Please give me a call or e-mail me.

Matt Eilers
C#970-445-8227
E-mail: MattEilers@aol.com


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