Grand Junction, CO

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

Grand Junction, Colorado is a place of scenic beauty, full of outdoor adventure and unparalleled attractions. The town is known as the gateway to western Colorado, thanks to its location on the edge of the Rockies and desert mesas. It is here that you will find the Colorado National Monument's behemoth sandstone structure, Glenwood Canyon, and Rifle Gap Falls. The variety of activities are astounding, from hiking and biking to dinosaur digging! There are plenty of options for shopping, dining, and relaxing, and Grand Junction proves to be a perfect location for a number of day trips or weekend getaways.

The town supports a population of approximately 51,623 residents, whose median age is 39 years old. The average household income in Grand Junction is around $35,000 per year. While home values have continued to appreciate in this region, potential home buyers will enjoy a wealth of diversity for housing options. The median value of a home in the area is $274,000. There is truly something for nearly everyone in Grand Junction, should you choose a suburban cottage or sprawling executive digs. The majority of folks here are employed in the retail sector. Manufacturing follows second, in terms of number of individuals employed, followed by professional services, the sciences and technology.

Click on the website below for free relocation information for Grand Junction, Colorado Relocation:

http://grand-junction-colorado-living.com

Market Statistics for August 17, 2008 - August 23, 2008

According to our local MLS, there are currently 1,666 active residential listings in Grand Junction, 335 homes are under contract, and 37 homes sold last week. Over the last few weeks the amount of active listings has been declining. This is good news! They are broken into areas below-

• City Area - 172 active/3 sold
• North Area - 269 active/ 4 sold
• Northeast Area - 175 active/ 6 sold
• Southeast Area - 175 active/ 5 sold
• Clifton Area - 77 active / 9 sold
• Orchard Mesa Area - 171 active / 1 sold
• Redlands Area - 224 active / 3 sold
• Fruita Area - 270 active / 4 sold
• Palisade/East Orchard Mesa Area - 72 active / 1 sold
• Northwest Area - 23 active / 0 sold
• West Area - 38 active / 1 sold
• Whitewater - 43 active / 0 sold

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