MONTROSE, DELTA & OURAY COUNTIES - COLORADO - REAL ESTATE
Strong 3rd Quarter and Underlying Challenges
The Montrose, Delta and Ouray County markets continue to demonstrate resiliency despite headwinds from stubbornly high interest rates, limited inventory, and other macro-factors challenging norms and predictable market cycles. The 3rd quarter of 2023, compared to the 3rd quarter of 2022, saw a decrease in dollar volume of 10% and a decrease in unit sales (down 14%). Sales totaled 981 in the 3rd quarter of 2022 versus 856 in 2023.
Price appreciation has certainly elevated values but combined with interest rates still in the 7% range has resulted in a pause for the more affordable market segment.
The challenge now for buyers is "when to buy". Experts agree it is a double-edged sword. On one hand, if you find the right property and can afford the current payments, buy now. Waiting until rates come down may yield a lower mortgage payment, but there is ample evidence that there is high demand ready to come into the market when the rates go down (and inventory rises) - which will create increased competition for homes, keeping prices elevated and potentially building a more challenging purchasing environment.
Our market is in a unique cycle few have experienced. Overall, the good news is that inventory levels are seasonally appropriate (though the market needs much more) and buyers are facing less competition for homes. Let's talk - the best way to assist you with your real estate goals is to have a conversation, discuss your specific property or needs, and create a proactive plan to help you in today's market.
LOCAL EVENTS
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| October 14th - 15th |
October 18th |
| Kids activities and Fall crafts, Saturday & Sunday 11:00 am to 2:00 pm. Bookmobile Saturday only, noon to 2:00. Kids in costume get an early "treat". Come check out our Silent Auction featuring a creative array of scarecrows and other fall decor OR help support the Montrose Botanic Gardens even more by creating a scarecrow to donate to the auction! |
Black Opry is a home for Black artists and Black fans of country, blues, folk, and Americana music. Country music has been made by and loved by Black people since it's conception. For just as long, we have been overlooked and disregarded in the genre by fans and executives. Black Opry wants to change that. We invite you to discover, support and enjoy the Black artists that make magic in this space. |
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| October 27th - 29th |
November 2nd |
Big B's presents Cider Fest '23 at Delicious Orchards in Hotchkiss, CO on October 27-29, 2023.
Featuring live music by The Itals, Peach Street Revival, Banshee Tree, Honey Don't, Russ Chapman, VEAZEY-HIGHWATER, Mama Lingua, Mark Nanni & more!
Activities include cider tastings, live music, orchard bbq, arts bazaar, kids games, hay rides, camping, and a free shuttle from Downtown Paonia. |
Weaving together modern and traditional styles of American music, Never Come Down is a Portland, Oregon based 5-piece band. Formed in 2018, the band released their self-titled debut that year and their second album "Better Late Than Never" followed in 2021. |
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