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Mesa County Real Estate Report
Advance Title Company
Bob Reece, President
Real estate sales for the 4th quarter of 2009 continued on a declining trend for the 14th consecutive quarter, the decline having started in the 4th quarter of 2006. There were a total of 739 real estate sales in the last quarter of 2009, down 12% from the 840 sales in the same quarter of 2008. Forthe year, Mesa County reported 2737 sales which is a 39% reduction from the 4459 sales the prior year and just slightly ahead of the total sales of 2663 back in 1984. The silver lining, if there is one, is that the amount of percentage decline, when compared to the same period a year earlier, lessened each quarter as the year progressed The median price of houses sold, as reported by the Grand Junction Realtor’s Multiple Listing Service (MLS) for all types of housing, fell to $195,000 in the 4th quarter of 2009, down from the peak of $227,000 in the third quarter of 2007. For the year, the median price for all housing sold stood at $204,000, an 8.3% drop from $222,400 for all housing sold in 2008. Lastly, we expect to see further price deterioration for housing while foreclosed properties make their way through the market and employment levels remain somewhat stagnate in the near future. Once we see improvement in employment levels and consumer spending, we can expect to see a firming of real estate prices and a platform for growth in sales and home building. This report is compiled by Bob Reece of Advanced Title Company. Read the rest of the report by going to:
http://www.advancedtitleco.com/2009
Fourth Quarter 2009 970-255-7677 • Email: atc@advancedtitleco.com
ADVANCED TITLE COMPANY 521 Rood Avenue, Suite C • Grand Junction, CO 81501
