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Delta County Market Update – March 2021

Delta County’s Land Use Regulations were approved by Planning Commission. Paonia and Cedaredge voted yes to allow Marijuana retail sales. The first apartment complex to be built in the last 10 years is under construction. The apartment project includes construction of 72 apartment units in 9-8 Plex buildings with pool at market rentals. The City of Delta gives letter of support for planned affordable housing project next to the Villas at the Bluff that includes 60+ 1 bedroom units. Project needs state credits with approval expected in May. Texas Developers purchase 200+ acres along the Gunnison River & Hwy. 92. Plans include a hotel, adventure park and housing.

DELTA COUNTY MARKET UPDATE

Item
2019
2020
% +/-
——————————————————————————————————————————————————————————————————
VELOCITY (Source – MLS)
Item:
2019:
2020:
% +/- :
Commercial Sales Volume
$8.2M
$6.3M
-23.3%
Item:
2019:
2020:
% +/- :
SC Commercial Transactions
18
26
44%
DELTA COUNTY SALES TAX INDICATORS (Source – City of Delta, Delta County):
Item:
2019:
2020:
% +/- :
City of Delta Sales Taxes
$6.2M
$6.7M
7%
Item:
2019:
2020:
% +/- :
Delta County Sales Taxes
$632K
$704KM
11.4%
Item:
2019:
2020:
% +/- :
Lodging Taxes
$113K
$97K
-14.2%
DELTA COUNTY COMMERCIAL VACANCY RATE:
Item:
2019:
2020:
% +/- :
Shoppes at Delta Office/Retail
28%
30%
Item:
2019:
2020:
% +/- :
Valley View Plaza Retail
44%
36%
DELTA COUNTY RESIDENTIAL REAL ESTATE
Item:
2019:
2020:
% +/- :
Residential Total Sales
$145.8M
$206.6M
41.7%
Item:
2019:
2020:
% +/- :
Residential Transactions
577
683
18.4%
Item:
2019:
2020:
% +/- :
Residential Average Price
$252,696
$302,552
19.7%
Item:
2019:
2020:
% +/- :
Residential Days On Market
116
110
-5.2%
Item:
2019:
2020:
% +/- :
Residential Listed for Sale
832
792
-4.8%
PUBLIC POLICY UPDATE
  • Delta County’s Land Use Regulations were approved by Planning Commission.
  • Paonia and Cedaredge voted yes to allow Marijuana retail sales.
NEW DEVELOPMENTS
  • The first apartment complex to be built in the last 10 years is under construction. The apartment project includes construction of 72 apartment units in 9-8 Plex buildings with pool at market rentals.
  • The City of Delta gives letter of support for planned affordable housing project next to the Villas at the Bluff that includes 60+ 1 bedroom units. Project needs state credits with approval expected in May.
  • Texas Developers purchase 200+ acres along the Gunnison River & Hwy. 92. Plans include a hotel, adventure park and housing.

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About The Author

Lucinda Stanley, Grand Mesa Real Estate Services

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.