Mesa County Third Quarter Real Estate Report for 2013

Real estate sales have continued to increase this quarter when compared to the same quarter a year ago. There were 1045 real estate sales reported in the third quarter for 2013 and has increased 11% from the 938 sales in 2012. Year to date there has been a total of 2770 real estate sales in Mesa County and represents a 7.6% increase from the 2573 sales reported in the first 9 months of 2012. The dollar volume also rose in the third quarter transactions in Mesa County totaling $232.4 million. This is a  25.6% increase when you compare the $185.1 million in volume for third quarter 2012. Year to date volume is totaling $580 million and represents a 15.3% increase from the $502.9 million reported for the first three quarters of 2012.
The median residential property price for the third quarter is at $184,900 for July, $169,500 for August, and $167,500 for September.  The average price of a residential home in the Grand Junction Area Realtor Association's  Multiple Listing Service for the third quarter was $203,631 for July, $187,037 for August, and $202,125 for September. In the first three quarters of 2013 there were 591 foreclosures filed and represented a 41% decrease from the 1000 foreclosure filings reported from the same period in 2012. Completed foreclosures (as indicated by the recording of Confirmation deeds) through the first three quarters of 2013 stands at 470 and represents a 24% decrease from the 2012 period's 616 completed foreclosures. The remaining filed foreclosures are either in process, or have been cured and withdrawn. 19% of sales in the first 9 months of 2013 were bank owned re-sales totaling 521 properties. This represents a 24% decrease from the same period 2012 that reported 613 bank owned re-sales. In the third quarter there were 143 single family permits pulled, a 43% increase from the 100 permits pulled last year.  Year to date there have been 353 permits issued for single family homes and that represents a 15% increase from the 307 permits from the same period in 2012. Things are looking up for real estate in Mesa County. Sales, volume, and building permits are up, foreclosure filings and bank owned resales are down. If you have any questions about our real estate market, or are thinking about buying, selling, or investing please contact The Harris Group at Keller Williams Realty and we would love to help. Special thanks to Heritage Title and the Grand Junction Area Realtor Association for the information used in this report.