Commercial Property for Sale | Delta County Market Update � September 2020

Delta County Market Update � September 2020

Posted on September 21, 2020 by Lucinda Stanley, Grand Mesa Real Estate Services in Market Updates

Commercial Real Estate sales volume for Delta County of $2.1M YTD in 2020 is down 45.5% compared to sales YTD in 2019 of $3.8M. Residential Real Estate sales of $64M YTD in 2020 is down 12.6% compared to sales YTD in 2019 of $73.3M. Sales Taxes in City of Delta are up 6.9% YTD in 2020 compared to taxes collected YTD in 2019. Elyse Casselberry has accepted the City Manager’s position for Delta and started at the end of August 2020. One Delta County will be under the leadership of Elyse Casselberry. The first apartment complex to be built in the last 10 years has been approved. The apartment project includes construction of 72 apartment units in 9 8 Plex buildings with pool at market rentals. The project to break ground May 2020 depending on lender approval.

DELTA COUNTY MARKET UPDATE

Item

Q2 2019

Q2 2020

% +/-

——————————————————————————————————————————————————————————————————

VELOCITY (Source � MLS)

Item:

Q2 2019:

Q2 2020:

% +/- :

Commercial Sales Volume

$3.8M

$2.1M

-45.5%

Item:

Q2 2019:

Q2 2020:

% +/- :

SC Commercial Transactions

-57%

DELTA COUNTY SALES TAX INDICATORS (Source � City of Delta, Delta County):

Item:

Q2 2019:

Q2 2020:

% +/- :

City of Delta Sales Taxes

$3M

$3.2M

6.9%

Item:

Q2 2019:

Q2 2020:

% +/- :

Delta County Sales Taxes

$3.3M

$3.2M

-3.5%

Item:

Q2 2019:

Q2 2020:

% +/- :

Lodging Taxes

$22.8K

$17.7K

-22.7%

DELTA COUNTY COMMERCIAL VACANCY RATE:

Item:

Q1 2019:

Q2 2020:

% +/- :

Shoppes at Delta Office/Retail

24.6%

19.1%

-22.4%

Item:

Q1 2019:

Q2 2020:

% +/- :

Valley View Plaza Retail

42.1%

45%

6.9%

DELTA COUNTY RESIDENTIAL REAL ESTATE

Item:

Q2 2019:

Q2 2020:

% +/- :

Residential Total Sales

$73.3M

$64.1M

-12.6%

Item:

Q2 2019:

Q2 2020:

% +/- :

Residential Transactions

290

236

-18.6%

Item:

Q2 2019:

Q2 2020:

% +/- :

Residential Average Price

$255,945

$273.582

6.9%

Item:

Q2 2019:

Q2 2020:

% +/- :

Residential Days On Market

113

132

16.8%

Item:

Q2 2019:

Q2 2020:

% +/- :

Residential Listed for Sale

248

392

58.1%

PUBLIC POLICY UPDATE

Elyse Casselberry has accepted the City Manager’s position for Delta and started at the end of August 2020.
One Delta County will be under the leadership of Elyse Casselberry.
The first apartment complex to be built in the last 10 years has been approved. The apartment project includes construction of 72 apartment units in 9-8 Plex buildings with pool at market rentals. The project to break ground May 2020 depending on lender approval.