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Archive for February 2019

With 2018 in the rearview mirror, let’s take a look at how 2018 fared.

The 2018 Median Sales Price for the Fruita/GJ area came in at $249,900.  This is up 9.03% vs the median sales price of 2017 which was $229,200.

The total number of sales for 2018 was 2,965 up from 2941 in 2017.  To show how far the market has come, in 2014 there was 2100 sales, a 41.2% increase in 4 years.

Days On Market (DOM):  On the GJ MLS, Days on Market is measured from when the property was listed to when it sold, including the time it was under contract.
The median DOM for a sold home in 2018 was 58 days, down from 2017 when it was 63 days.   If you prefer average, the average days on market for 2018 for a sold home was 79 days vs 87 days in 2017.

For Dec. 2018, the months of inventory on the market was 2.52 months vs Dec. 2017 where there was 2.76 months of inventory on the market.

For homes sold via the MLS that were either a Short Sale, REO, or HUD home, there were a total of 61 sales in 2018 vs 159 sales in 2017.

If you are looking around at the various areas, here is an idea of how much a home might cost.  The following figures is the Median Sales price of a home in the area in 2018.
Redlands: $363,000
North: $315,000
Fruita: $295,000
Orchard Mesa: $250,000
NE: $230,000
SE: $219,900
GJ City: $196,250
Clifton: $186,000

New Construction:  From Jan. 1, 2018 through Feb. 6, 2019, the SE area led the way with the most number of new constructions sales (home built since 2018) with 70.  Orchard Mesa followed with 51 sales and Fruita had 38 sales.

Quick characteristics of areas around town:
Redlands:  Has the highest median sales price vs the other 2 areas that are close to it in price (North & Fruita).  This is not so much due to houses being more expenseive, it is due to bigger houses.  The Average Sq.Foot of a sold home in the Redlands was 2,431 sq.ft. in 2018.    The median Sold Price per sq.ft. comes in at $168/sq.ft. which is about the same as the North & Fruita areas.   Thus, Redlands is more expensive than North & Fruita due to bigger homes and bigger lots.  The Average lot size is 1/3 of an acre whereas in Fruita it is 1/5 of an acre.  The Redlands does represent one of the older areas around town with a median year built of 1993 for homes sold in 2018.

Fruita: Fruita had a +14.02% median sales price change in 2018 vs 2017.  The average days on market is down to 70 days, about 2 weeks lower than the other 2 more expensive areas (North & Redlands) around town.   Fruita along with the SE area, represent the 2 areas that you are likely to find newer(ish) homes as the median year built for a home sold in 2018 was 2004 while the SE area had a median year built in 2005.

Clifton: Least expensive area around town coming in with a median sales price of $186K.  Homes are a little older with a 1993 median year built for homes sold in 2018.  Lots are also a bit smaller coming in with an avg. of 0.17 acres.  The lots are bit smaller and the homes are a bit smaller with the average sq.ft. home sold in 2018 coming in at 1391 sq.ft.

Grand Junction City: 2nd least expensive area around town.  Homes here averaged 1521 sq.ft. and the lot size was 0.17 acres.  This is by far and away where you will find the oldest homes in the area with Median Year Built of 1955 for a sold home in 2018.

Want to see the Top 10 predicted appreciating market for 2019.  Again, just a prediction:
https://www.housingwire.com/blogs/7-pulse/post/48127-pulse-here-are-the-10-markets-where-home-prices-will-rise-most-in-2019?fbclid=IwAR2tlJdXAbovsJBNheYfSgANDbYQKJcjpGuzTKHtQKN9QtOwnk75–rjnCs

Looking to buy or sell in 2019?   Please contact me
Matt Eilers
Owner: Dream Home Real Estate
C# 970-445-8227
E-mail: MattEilers@aol.com
Follow on Facebook at: Grand Junction Dream Home Real Estate

 

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