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Delta County Market Update – November 2019

Posted on November 9, 2019 by Lucinda Stanley, Grand Mesa Real Estate Services in Market Updates

Commercial Real Estate sales volume for Delta County of $6.2M YTD in 2019 with 17 transactions is down 17.8% compared to sales YTD in 2018 with 32 transactions worth $7.5M. Residential Real Estate sales of $122.9M YTD in 2019 is up 6.9% compared to sales YTD in 2018 of $115M. Sales Taxes in City of Delta are up 7% 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. CDOT is working with the City of Delta for improving downtown traffic. The Delta County Economic Development (DCED) is in a transition stage.

DELTA COUNTY MARKET UPDATE

Item
Q3 2018 YTD
Q3 2019 YTD
% +/-
——————————————————————————————————————————————————————————————————
VELOCITY (Source – MLS)
Item:
Q3 2018 YTD:
Q3 2019 YTD:
% +/- :
Commercial Sales Volume
$7.5M
$6.2M
-17.8%
Item:
Q3 2018 YTD:
Q3 2019 YTD:
% +/- :
Commercial Transactions
32
17
-47%
DELTA COUNTY SALES TAX INDICATORS (Source – City of Delta, Delta County):
Item:
Q3 2018 YTD:
Q3 2019 YTD:
% +/- :
City of Delta Sales Taxes
$4.3M
$4.6M
7%
Item:
Q3 2018 YTD:
Q3 2019 YTD:
% +/- :
Delta County Sales Taxes
$4.6M
$4.9M
8.3%
Item:
Q3 2018 YTD:
Q3 2019 YTD:
% +/- :
Lodging Taxes
$61.8K
$57.5K
-6.9%
DELTA COUNTY COMMERCIAL VACANCY RATE:
Item:
Q1 2019:
Q3 2019 YTD:
% +/- :
Shoppes at Delta Office/Retail
54%
28%
-52%
Item:
Q1 2019:
Q3 2019 YTD:
% +/- :
Valley View Plaza Retail
32.6%
39.8%
22%
DELTA COUNTY RESIDENTIAL REAL ESTATE
Item:
Q3 2018 YTD:
Q3 2019 YTD:
% +/- :
Residential Total Sales
$115M
$123M
6.9%
Item:
Q3 2018 YTD:
Q3 2019 YTD:
% +/- :
Residential Transactions
471
473
-1%
Item:
Q3 2018 YTD:
Q3 2019 YTD:
% +/- :
Residential Average Price
$237,372
$255,583
7.7%
Item:
Q3 2018 YTD:
Q3 2019 YTD:
% +/- :
Residential Days On Market
127
121
-4.7%
Item:
Q3 2018 YTD:
Q3 2019 YTD:
% +/- :
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.
  • CDOT is working with the City of Delta for improving downtown traffic.
  • The Delta County Economic Development (DCED) is in a transition stage.

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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.