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Delta County Market Update – August 2019

Commercial Real Estate sales volume for Delta County of $3.8M YTD in 2019 is down 5.9% compared to sales YTD in 2018 of $4M. Residential Real Estate sales of $73M YTD in 2019 is up 4.7% compared to sales YTD in 2018 of $70M. Sales Taxes in City of Delta are up 6.8% YTD in 2019 compared to taxes collected YTD in 2018. Delta County Economic Development (DCED) with Region 10 and local support are focused on taking advantage of Opportunity Zone funds that are available and are holding several workshops to identify and assist in development projects in Delta County. A 5 acre multi-family development project that was identified as a top 3 priority for Region 10 Opportunity Zone program in the City of Delta has been deemed too expensive to pursue. CDOT is working with the City of Delta for improving downtown traffic.

DELTA COUNTY MARKET UPDATE

Item
Q2 2018
Q2 2019
% +/-
——————————————————————————————————————————————————————————————————
VELOCITY (Source – MLS)
Item:
Q2 2018:
Q2 2019:
% +/- :
Commercial Sales Volume
$4M
$3.8M
-5.9%
Item:
Q2 2018:
Q2 2019:
% +/- :
SC Commercial Transactions
17
7
-58.8%
DELTA COUNTY SALES TAX INDICATORS (Source – City of Delta, Delta County):
Item:
Q2 2018:
Q2 2019:
% +/- :
City of Delta Sales Taxes
$2.8M
$3M
6.8%
Item:
Q2 2018:
Q2 2019:
% +/- :
Delta County Sales Taxes
$1.5M
$1.6M
8.5%
Item:
Q2 2018:
Q2 2019:
% +/- :
Lodging Taxes
$12.3K
$14.4K
17.4%
DELTA COUNTY COMMERCIAL VACANCY RATE:
Item:
Q1 2019:
Q2 2019:
% +/- :
Shoppes at Delta Office/Retail
54%
24.6%
-54.5%
Item:
Q1 2019:
Q2 2019:
% +/- :
Valley View Plaza Retail
32.6%
42.1%
29.1%
DELTA COUNTY RESIDENTIAL REAL ESTATE
Item:
Q2 2018:
Q2 2019:
% +/- :
Residential Total Sales
$70M
$73.3M
4.7%
Item:
Q2 2018:
Q2 2019:
% +/- :
Residential Transactions
170
174M
2.4%
Item:
Q2 2018:
Q2 2019:
% +/- :
Residential Average Price
$250,282
$255,945
2.3%
Item:
Q2 2018:
Q2 2019:
% +/- :
Residential Days On Market
139
113
-18.7%
Item:
Q2 2018:
Q2 2019:
% +/- :
Residential Listed for Sale
270
248
-8.1%
PUBLIC POLICY UPDATE
  • Delta County Economic Development (DCED) with Region 10 and local support are focused on taking advantage of Opportunity Zone funds that are available and are holding several workshops to identify and assist in development projects in Delta County.
  • A 5 acre multi-family development project that was identified as a top 3 priority for Region 10 Opportunity Zone program in the City of Delta has been deemed too expensive to pursue.
  • CDOT is working with the City of Delta for improving downtown traffic.

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About The Author

Lucinda Stanley, Grand Mesa Commercial Real Estate

Lucinda Stanley has been a commercial real estate professional since 1984. She is the owner of Grand Mesa Commercial Real Estate in the Delta County area. Her commercial real estate company has been in the Delta area since 2011 and has helped many small businesses by providing guidance to match their business goals. From commercial leasing and real estate sales, business consultations, land acquisitions and commercial property management services, Lucinda Stanley customizes her services to help further her client’s success.