(970) 445-8227

matteilers@aol.com

All posts tagged Grand Junction Real Estate Stats

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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Brrrrrrrr!!  Starting to get cold outside.   Ski resorts are starting to open & Vail Pass had it’s 1st closure due to snow…so whether we are ready or not, winter is here.  Let’s take a look at the 1st 10 months (Jan. 1-Oct. 31) of 2014 and compare to 2013 to get an idea on how the market is doing.

OVERALL- Single Family Homes *Using areas: Fruita, North, Redlands, GJ City, NE, SE, Clifton, Orchard Mesa

  Single Family Homes  
Overall 2014 2013 % Change
# of Sales 1893 1868 1.34%
Med. Sales Price $185,000 $179,900 2.83%
Avg. Sales Price $213,183 $201,455 5.82%
Med. DOM 90 83.5 -7.78%
Avg. DOM 118 109 -8.26%
Avg SP/LP 97.47% 97.72% -0.25%

Thoughts: # of sales is basically about the same.  Prices are up 3-5.5%.  One item to keep an eye on is the Days on Market (DOM) did regress in 2014 by roughly a week.

3 Bdrm Single Family Homes Comparison    
 

2014

2013

2014

2013

Area

# of Sales

# of Sales

Med. Sales Price

Med. Sales Price

Redlands

115

123

$270,000

$280,000

North

182

131

$229,750

$239,000

Fruita

161

141

$192,500

$197,000

GJ City

129

138

$153,000

$153,430

NE

169

177

$169,000

$159,500

SE

159

174

$149,780

$140,000

Orchard Mesa

144

164

$167,500

$149,450

Clifton

98

91

$126,575

$106,000

 

 

2014

2013

Area

Avg. Sales Price

Avg. Sales Price

Redlands

$330,487

$301,800

North

$246,026

$248,915

Fruita

$207,588

$203,864

GJ City

$156,690

$144,255

NE

$166,124

$159,245

SE

$138,335

$132,006

Orchard Mesa

$178,372

$156,234

Clifton

$115,212

$102,836


 

2014

2013

2014

2013

Area

Avg DOM

Avg DOM

Med. DOM

Med.DOM

Redlands

128

115

110

81

North

112

113

100

87

Fruita

127

112

94

90

GJ City

113

108

86

76.5

NE

111

98

86

78

SE

119

94

90

69.5

Orchard Mesa

106

106

79

67.5

Clifton

107

109

78

84

Thoughts:  It appears that the Median & Average Sales Price in 2014 both rose in the areas where prices tended to be under $200K.  Although in areas that were +$200K such as Fruita, Redlands & North areas, this did not hold.  Another item to watch in 2015 is how the Days On Market which increased in 2014 vs 2013 affects the real estate market.

 

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