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Delta County Market Update – September 2021

Commercial Real Estate sales volume for Delta County of $5.3M in Q2 2021 is up 157% compared to sales in Q2 2020 of $2.1M. Residential Real Estate sales of $122.9M in Q2 2021 is up 91.8% compared to sales in Q2 2020 of $64.1M. Sales Taxes in City of Delta are up 21.7% Q2 2021 compared to taxes collected in Q2 2020. The first apartment complex to be built in the last 10 years has broken ground with the first phase scheduled for October move in. The apartment project includes construction of 72 apartment units in 9-8 Plex buildings with pool with rents around $1,350 per month. The City of Delta has received state tax credits approval for planned affordable housing project next to the Villas at the Bluff that includes 60+ 1 bedroom units.

DELTA COUNTY MARKET UPDATE

Item
Q2 2020
Q2 2021
% +/-
——————————————————————————————————————————————————————————————————
VELOCITY (Source – MLS)
Item:
Q2 2020:
Q2 2021:
% +/- :
Commercial Sales Volume
$2.1M
$5.3M
157%
Item:
Q2 2020:
Q2 2021:
% +/- :
SC Commercial Transactions
11
21
90.9%
DELTA COUNTY SALES TAX INDICATORS (Source – City of Delta, Delta County):
Item:
Q2 2020:
Q2 2021:
% +/- :
City of Delta Sales Taxes
$3.2M
$3.9M
21.7%
Item:
Q2 2020:
Q2 2021:
% +/- :
Delta County Sales Taxes
$3.2M
$4.4M
37.5%
Item:
Q2 2020:
Q2 2021:
% +/- :
Lodging Taxes
$18K
$44K
150%
Item:
Q2 2020:
Q2 2021:
% +/- :
Safety Improvement Tax
$1.4M
DELTA COUNTY COMMERCIAL VACANCY RATE:
Item:
Q2 2020:
Q2 2021:
% +/- :
Shoppes at Delta Office/Retail
19.1%
31%
62.5%
Item:
Q2 2020:
Q2 2021:
% +/- :
Valley View Plaza Retail
45%
35.8%
-20.6%
DELTA COUNTY RESIDENTIAL REAL ESTATE
Item:
Q2 2020:
Q2 2021:
% +/- :
Residential Total Sales
$64.1M
$122.9M
91.8%
Item:
Q2 2020:
Q2 2021:
% +/- :
Residential Transactions
236
355
50.4%
Item:
Q2 2020:
Q2 2021:
% +/- :
Residential Average Price
$237,582
$346,193
26.5%
Item:
Q2 2020:
Q2 2021:
% +/- :
Residential Days On Market
132
105
-20.5%
Item:
Q2 2020:
Q2 2021:
% +/- :
Residential Listed for Sale
392
429
9.4%
NEW DEVELOPMENTS
  • The first apartment complex to be built in the last 10 years has broken ground with the first phase scheduled for October move in. The apartment project includes construction of 72 apartment units in 9-8 Plex buildings with pool with rents around $1,350 per month.
  • The City of Delta has received state tax credits approval for planned affordable housing project next to the Villas at the Bluff that includes 60+ 1 bedroom units.

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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.