Glenwood Springs Market Update – September 2021
Commercial Real Estate sales volume of $12.2M with 14 transactions in Q2 2021 is up 144.6% compared to sales in Q2 2020 of 5 transactions worth $5M. Residential Real Estate sales of $108M in Q2 2021 are up 70.9%% compared to sales in Q2 2020 of $63.2M. Sales Taxes for the City of Glenwood Springs in Q2 2021 were up 37.1% compared to taxes collected in Q2 2020. New commercial real estate projects include 15.8 acre vacant lot in West Glenwood for development of 360 unit residential units along with some commmercial by R2 Partners from Ohio. R2 Partners has also just announced they are under contract for the West Glenwood Mall which is adjacent to the residential project. The Lofts Apartment Complex as well as Six Canyon Complex are stabilized and have no vacancy. The 62 2 bedroom and 38 1 bedroom apartment Bell-Rippy project next to Walmart has been approved.
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
DEVELOPMENTS
- 15.8 acre vacant lot in West Glenwood for development of 360 unit residential units along with some commmercial by R2 Partners from Ohio.
- R2 Partners has also just announced they are under contract for the West Glenwood Mall which is adjacent to the residential project.
- The Lofts Apartment Complex as well as Six Canyon Complex are stabilized and have no vacancy.
- The 62 2 bedroom and 38 1 bedroom apartment Bell-Rippy project next to Walmart has been approved.
