Chaffee County Market Update – November 2019
Commercial Real Estate sales volume for Chaffee County of $6.2M YTD in 2019 with 11 transactions is down 32% compared to sales YTD in 2018 with 6 transactions worth 9.1M. Residential Real Estate sales for $60.6M YTD in 2019 is up 1.7% compared to sales YTD in 2018 of $59.6M. Sales Taxes for the City of Salida are up 9.9% YTD in 2019 compared to taxes collected YTD in 2018. The Rockies Regional Medical Center has been approved to build a 10,000 square foot, $5.6 million expansion and remodeling of their Buena Vista Health Center and Buena Vista School District has broken ground on $41.5 million construction project creating new middle and high school wings along with renovations to existing buildings. Fading West Development is under contract to purchase 7 acres in Buena Vista to build a modular home factory. There are 10 housing projects in various stages of development and completion in Poncha Springs worth a total of 500 housing units with 70% of units being affordable housing.
CHAFFEE COUNTY MARKET UPDATE
VELOCITY
SALES TAX INDICATORS:
VACANCY RATE
VACANCY RATE
CAP RATES
CAP RATES
RESIDENTIAL REAL ESTATE
PUBLIC POLICY CHANGES
- The Salida School District Board of Education voted to place 5A on the ballot for voters to approve the Salida School District to join the Colorado Mountain District.
DEVELOPMENTS
- The Rockies Regional Medical Center has approved a 10,000 square foot, $5.6 million expansion and remodeling of their Buena Vista Health Center
- Buena Vista School District has broken ground on $41.5 million construction project creating new middle and high school wings along with renovations to existing buildings
- Fading West Development is under contract to purchase 7 acres in Buena Vista to build a modular home factory.
- There are 10 housing projects in various stages of development and completion in Poncha Springs worth a total of 500 housing units with 70% of units being affordable housing.
