Montrose County Market Update – January 2019
Commercial Real Estate sales volume of $16M with 30 transactions in 2018 is up 46% compared to sales in 2017 with 30 transactions worth $8.7M. Residential Real Estate sales for $263M YTD in 2018 is up 24.3% compared to sales in 2017 of $211.6M. Sales Taxes are up 7.3% YTD compared to taxes collected in 2017. Commercial real estate development projects include Colorado Outdoors Ross and Abel headquarters 165 acre river development to be completed in January 2019, Dunkin Donuts remodel in process, Freddie Hamburger to start construction next to Taco Bell, Montrose Hospital Cardiology Department move to 630 Star Ct.
MONTROSE MARKET UPDATE
VELOCITY (Source – MLS)
MONTROSE SALES TAX INDICATORS (Source – City of Montrose):
MONTROSE VACANCY RATE
MONTROSE VACANCY RATE
MONTROSE CAP RATES
MONTROSE CAP RATES
RESIDENTIAL REAL ESTATE
PUBLIC POLICY CHANGES
- Colorado Outdoor – Final plat to be completed December 2018
- GoCo – $2,000,000 for River Trail System
- DORA, ADA, DMEA grant $80,000,000 Fiber Community Grant – Fiber to the home
DEVELOPMENTS
- Colorado Outdoors Project – Mayfly (Ross and Abel) headquarters to be completed in January 2019
- Dunkin Doughnuts (1805 South Townsend) remodel in process
- Freddie Hamburger closed and construction has started next to Taco Bell
- Montrose Hospital Cardiology Department move to 630 Start Ct. closed