About Mesa County, CO

Market Statistics for September 14, 2008 - September 20, 2008

According to our local MLS, there are currently 1,708 active residential listings in Grand Junction, 311 homes are under contract, and 68 homes sold last week. There were a strong number of closings this week, especially for it not being the last week of the month. By special request, I have started including statistics on New Construction. They are broken into areas below-

• City Area - 167 active/8 sold
• North Area - 273 active/ 8 sold
• Northeast Area - 175 active/ 12 sold
• Southeast Area - 162 active/ 9 sold
• Clifton Area - 80 active / 11 sold
• Orchard Mesa Area - 164 active / 8 sold
• Redlands Area - 224 active / 8 sold
• Fruita Area - 248 active / 5 sold
• Palisade/East Orchard Mesa Area - 70 active / 1 sold
• Northwest Area - 21 active / 0 sold
• West Area - 39 active / 1 sold
• Whitewater - 44 active / 1 sold
• Collbran/Molina/ Mesa/Vega Area - 52 active / 1 sold
• New Construction (Homes built in 2008)- 214 active / 12 sold (09/01/08 - 09/20/08)

The Different Neighborhoods in Mesa County - This is a general guide to the different areas

The following is an article from the local paper and it states that here in Western Colorado we are living in a buffer zone, compared to other areas of Colorado and the United States. Thanks to the Oil and Gas Industry for helping us through this. Unfortunatetly, the article only has statistics and figures from the first four months of this year. I would say that not much has changed, but it would be nice to see the statistics and figures through August. Also, we are supposed to hear very soon the results of the Oil and Gas Commission and the new rules to be proposed. They are still trying to decide on some key issues for the Western Slope.

Daily Sentinel Article - Western Slope economic vital signs stable, report says

Oil and Gas Commissions Website - COGCC

This is a summary of August's Real Estate Market Statistics, for more detailed statistics check out the graphs.

The Summary for August 2008 looks like this -

• 233 homes sold, and the average days on the market(DOM) was 125. There were no sales above $750,000 and that lowered the average days on the market this month.
• In August, inventory was slightly down and so were the sales.
• The average price of homes sold this month went down to $244,599.

Disclaimer, I get the montly statistics from my broker and his numbers take into account the expired listings and therefore slightly differ from my weekly statistics

You can see the graphs at http://www.grandjunctionrealestateblog.com/ .

I'm sure some of you have heard by now that the government has bought out Freddie Mac and Fannie Mae. This was big news that became even bigger as the overseas markets and Dow Jones opened higher than expected. I think this can be seen as a positive. Also, one of my lenders was saying that rates were looking to go down to 5 7/8% today, that is down from 6 1/2% on Friday. That is quite a reduction. This reduction is the difference between renting and buying a home for some people. I have included links to a couple of articles on this subject below:

Fannie, Freddie deal helps some borrowers, not all

Stocks mostly advance on plan for mortgage giants

Mortgage rates drop after Fannie, Freddie takeover