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Delta County Market Update – January 2020

Commercial Real Estate sales volume for Delta County of $8.2M in 2019 with 18 transactions is down 4.3% compared to sales in 2018 with 37 transactions worth $8.5M. Residential Real Estate sales of $145.8M in 2019 is up 2.2% compared to sales in 2018 of $142.6M. Sales Taxes in City of Delta are up 7% in 2019 compared to taxes collected in 2018. City Manager for Delta resigned recently. One Delta County will take over the economic development association run by Delta County. The first apartment complex built in the last 10 years has been approved. The project includes 9 eight plex buildings for 72 unites with pool at market rents that will break ground in May 2020.

DELTA COUNTY MARKET UPDATE

Item
2018
2019
% +/-
——————————————————————————————————————————————————————————————————
VELOCITY (Source – MLS)
Item:
2018:
2019:
% +/- :
Commercial Sales Volume
$8.5M
$8.2M
-4.3%
Item:
2018:
2019:
% +/- :
Commercial Transactions
37
18
-51%
DELTA COUNTY SALES TAX INDICATORS (Source – City of Delta, Delta County):
Item:
2018:
2019:
% +/- :
City of Delta Sales Taxes
$5.8M
$6.2M
7%
Item:
2018:
2019:
% +/- :
Delta County Sales Taxes
$5M
$5.7M
13.7%
Item:
2018:
2019:
% +/- :
Lodging Taxes
$104.9K
$113.1K
7.8%
DELTA COUNTY COMMERCIAL VACANCY RATE:
Item:
Q1 2019:
2019:
% +/- :
Shoppes at Delta Office/Retail
54%
28%
-48%
Item:
Q1 2019:
2019:
% +/- :
Valley View Plaza Retail
32.6%
44.4%
36.2%
DELTA COUNTY RESIDENTIAL REAL ESTATE
Item:
2018:
2019:
% +/- :
Residential Total Sales
$142.6M
$145.8M
2.2%
Item:
2018:
2019:
% +/- :
Residential Transactions
598
577
-3.5%
Item:
2018:
2019:
% +/- :
Residential Average Price
$238,494.00
$252,696.00
6%
Item:
2018:
2019:
% +/- :
Residential Days On Market
122
117
-4.1%
Item:
2018:
2019:
% +/- :
Residential Listed for Sale
107
119
11.2%
PUBLIC POLICY UPDATE
  • City Manager for Delta resigned recently.
  • One Delta County will take over the economic development association run by Delta County.
RECENT DEVELOPMENTS
  • The first apartment complex built in the last 10 years has been approved. The project includes 9 eight plex buildings for 72 unites with pool at market rents that will break ground in May 2020.

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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.