Glenwood Springs Market Update – November 2018
Commercial Real Estate sales volume of $17.1M with 28 transactions YTD in 2018 is up 60% compared to sales January-October 2018 with 27 transactions worth $9.2M. Residential Real Estate sales for $132M YTD in 2018 are up 33% compared to sales January-October 2017 of $94.6M. Sales Taxes are up 3.75% YTD compared to taxes collected January-October 2017. New commercial real estate projects include Oasis Creek Apartments which is just breaking ground, 85 unit lofts at Red Mountain, approvals in place for 54 unit apartment complex in Buffalo Valley, Glenwood Caverns installing a new tram and expansion of Glenwood Hot Springs.
GLENWOOD SPRINGS MARKET UPDATE
VELOCITY (Source – FlexMLS )
SALES TAX INDICATORS (Source – City of Glenwood Springs):
VACANCY RATE
VACANCY RATE
CAP RATES
CAP RATES
RESIDENTIAL REAL ESTATE
PUBLIC POLICY CHANGES
- Glenwood Springs Passes 4 Month Moratorium on Vacation Rentals
- Fire District Tax Increase Passes
- Carbondale Removes Distance Requirements Between Retail Marijuana Stores
DEVELOPMENTS
- Oasis Creek Apartments – Just Breaking Ground
- Lofts at Red Mountain – 85 Units at $1,500 Studio/$2,400 2 Bedroom
- Buffalo Valley – Approvals in Place for 54 Unit Apartment Complex/Just Sold for $1,575,000
- Glenwood Caverns Installing New Tram
- Glenwood Hot Springs Under Expansion