Montrose County Market Update – March 2021
Commercial Real Estate sales volume of $9.6M with 25 transactions in 2020 is down 25.4% compared to sales in 2019 with 31 transactions worth $12.9M. Residential Real Estate sales of $266.1M in 2020 is up 18.8% compared to sales in 2019 of $224M. Sales Taxes are up 6.8% compared to taxes collected in 2019. Commercial real estate development projects include Telluride Ski Resort purchase of 2 large development properties on South Townsend. Several out of area commercial real estate buyers are moving cash from metro markets to rural areas of Western Colorado. Construction has been completed for Culver Restaurant and is now open.
MONTROSE MARKET UPDATE
VELOCITY (Source – MLS)
MONTROSE SALES TAX INDICATORS (Source – City of Montrose):
MONTROSE CAP RATES
MONTROSE CAP RATES
RESIDENTIAL REAL ESTATE
DEVELOPMENTS
- Telluride Ski Resort purchased 2 large development properties on South Townsend.
- Several out of area commercial real estate buyers are moving cash from metro markets to rural areas of Western Colorado.
- Construction has been completed for Culver Restaurant and is now open.