All posts tagged Palisade Real Estate
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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Here is a look at how real estate sales in September 2014 did. For this we are looking at real estate sales in the 9 major areas in and around the valley. Fruita, Redlands, Grand Junction City, North, SE GJ, NE GJ, Clifton, Orchard Mesa & Clifton.
We will also look back and see how September 2014 Grand Junction real estate sales did vs September 2013 real estate sales.
| 2014 September Sales Figures | ||||
| Area | # of Sales | Med Sales Price | Avg Sales Price | Median Days On Market |
| Fruita |
26 |
$190,800 |
$240,886 |
92 |
| GJ City |
24 |
$138,000 |
$149,946 |
106.5 |
| NE GJ |
24 |
$166,250 |
$164,443 |
79.5 |
| SE GJ |
20 |
$154,450 |
$154,287 |
95 |
| Redlands |
23 |
$350,000 |
$346,948 |
89 |
| North |
25 |
$265,000 |
$293,117 |
136 |
| Orchard Mesa |
18 |
$179,950 |
$184,996 |
74 |
| Palisade |
3 |
|
|
121 |
| Clifton |
12 |
$142,250 |
$139,517 |
50 |
In September, the Sold Price to List Price came in at 98.27%
| 2013 September Sales Figures | ||||
| Area | # of Sales | Med Sales Price | Avg Sales Price | Median Days On Market |
| Fruita |
25 |
$212,000 |
$214,947 |
85 |
| GJ City |
22 |
$122,673 |
$130,641 |
80 |
| NE GJ |
22 |
$164,500 |
$175,764 |
71 |
| SE GJ |
19 |
$156,000 |
$147,854 |
86 |
| Redlands |
23 |
$290,000 |
$346,916 |
92 |
| North |
22 |
$287,250 |
$336,712 |
99 |
| Orchard Mesa |
30 |
$172,500 |
$178,490 |
72.5 |
| Palisade |
12 |
$186,250 |
$252,368 |
92 |
| Clifton |
10 |
$75,500 |
$84,041 |
74 |
In September, the Sold Price to List Price came in at 98.04%
OVERALL SALES through end of September for 2014
| OVERALL for 2014- Using the areas above |
2014 |
|||
|
# of Sales |
Med Sales Price |
Avg. Sales Price |
Median Days on Market |
|
| Jan.1-Sept. 30 |
1741 |
$185,000 |
$211,858 |
89 |
| Median Sold Price to List Price as a percentage: 98.27% | ||||
FOR 2013
|
2013 |
||||
| # of Sales | Med Sales Price | Avg. Sales Price | Median Days on Market | |
| Jan.1-Sept. 30 |
1751 |
$179,000 |
$201,782 |
82 |
| Median Sold Price to List Price as a percentage: 98.25% | ||||
OVERALL ANALYISIS:
*# of Sales has remained the same in 2014 vs 2013
*Median Sales Price is up 3.35%
*Median Days on Market is ~7 days longer vs 2013
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In 2013, there were 2,2439 sales combined over the following areas that were listed on the MLS.
Areas: Palisade, GJ City, NE, SE, Redlands, North, Palisade & Orchard Mesa
Let’s take a closer look at the breakdown of sales in 2013.
The following is for informational purposes only as I cannot verify the data from which I used to compile this info.
| Area/2013 | # Sold | M- Sold Price | M-DOM | M-SP/LP | #2 Bdrms | #3 of Bdrms | #4 of Bdrms | #5 of Bdrms |
| Redlands | 292 | $305,000 | 93.5 | 97.33% | 12 | 147 | 102 | 23 |
| GJ City | 295 | $140,000 | 77 | 97.42% | 83 | 154 | 36 | 11 |
| North | 295 | $252,000 | 92 | 98.27% | 10 | 154 | 96 | 32 |
| SE GJ | 258 | $143,890 | 79.5 | 99.84% | 18 | 193 | 42 | 5 |
| NE GJ | 297 | $165,000 | 80 | 98.19% | 23 | 197 | 69 | 8 |
| Fruita | 297 | $220,000 | 92 | 98.51% | 15 | 162 | 101 | 17 |
| Orchard Mesa | 288 | $158,000 | 78.5 | 98.25% | 27 | 185 | 67 | 7 |
| Clifton | 146 | $100,958 | 84 | 98.20% | 14 | 117 | 14 | 1 |
| Palisade | 71 | $162,500 | 98 | 97.01% | 22 | 32 | 13 | 2 |
Legend:
M-Sold Price = Median Sold Price for all single family homes sold in the area listed
M-DOM = Median Days On Market for all single family homes sold in the area listed
M-SP/LP = Median ratio of the Sold Price to List Price. Obviously the higher the %, the closer the Seller
got to receiving their full list price at the time a contract was submitted.
Bdrms Sold: Following is the breakdown of the # of bdrms sold by size in each area.
Have questions, please let me know. When it comes time to Buy or Sell, please give me a call so I can put my expertise to use for you.
Matt Eilers- 970-445-8227
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