Montrose, CO

So the end of the year and the start of a new one. Below are the numbers for Montrose Colorado These nu,bers are from the Montrose Area MLS System. They do not reflect any properties sold For Sale By Owner.

The Home Sales numbers are for the last 3 years.

Year # Homes Sold $ Volume Avg Price Median Price Days on Mkt

2008 472 105,224,014 222,932 195,750 164

2007 681 149,985,007 220,242 191,690 139

2006 800 174,435,489 218,044 185,955 143

Lot Sales For the last 3 years are as follows:

2008 58

2007 134

2006 186

My opinion for 2009 sales for the Montrose area are to be slightly better than the numbers you see for 2008. I believe that 2008 was the bottom of the market as far as numbers of sales. As you can see over the last 3 years the average price of a home has increased. With mortgage rtaes at 37 year lows right now this is the time to buy. If you have any questions please contact me brownbrit@aol.com

If you would like the latest list of Bank Owned Homes in Montrose Colorado Please e-mail with your e-mail address or call me 970-209-8436 I will e-mail you the latest list.

New properties are added to this list every week. This is one way to keep ahead of the best deals in town. brownbrit@aol.com www.ColdwellBankerMontrose.com

Mortgage rates are at 37 year lows. The average 30 year fixed rate Loan declined to 5.1% for the week ending December 31 2008. The 15 yeaqr rate dropped to 4.83% which is its lowest level since March 2004 when it was at 4.7%.

Since the end of October rates have dropped by 1 1/3% which for a $200,000 loan means a savings every month on your payment of $173. Money you could use elswhere should you seek to re-finance your exsisting mortgage.

With low rates and falling home prices this is a good time to buy. In Montrose Colorado home prices have about reached the bottom if you are waiting thinking that home prices are going to continue to drop that might be a mistake. There are some great deals out there.

If you would like more information please contact me brownbrit@aol.com visit our web site www.ColdwellBankerMontrose.com

Here are the home sales numbers for the month of October 2008 as compared to October 2007.

Units Sold Avg Days on Market. Average Sales Price

OCT 2008 35 211 $216,355

OCT 2007 59 137 $216,684

If you would like a more detailed breakdown of the market please feel free in contacting me.

www.MontroseHomeConnection.com

Here is a quick run down of the home sales numbers for last month August 2008 in Montrose Colorado compared to Aug 2007.

1. Aug 2007 units sold 76 Avg Sales Price $203,506 Avg Days on Mrkt 149

2. Aug 2008 units sold 44 Avg Sales Price $192,848 Avg Days on Mrkt 128

As you can see the numbers are down. I feel that all year the numbers have been down about the same on a month to month basis. My opinion is that we are in a pattern now that is going to stay about the same month over month which means the market is at about the bottom, I don't see much change either up or down for the forseeable future. www.MontroseHomeConnection.com