Commercial Property for Sale | Delta County Market Update

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

-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

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.