Vaughn Clark Group - Coldwell Banker Distinctive Properties

Grand Junction Real Estate News

The reality of real estate in the Grand Valley throughout 2017

Year in review

    • Penny Stine

Trail Edge Townhomes is the first residential development built to take advantage of the recreational opportunities available at Las Colonias Park, including access to the Colorado Riverfront Trail, the disc golf course, and the amphitheater. There will be 14 units total. Ray Rickard with RE/MAX 4000 is the listing agent for the development.

PENNY STINE/ Real Estate Weekly

A decade ago, Mesa County's economy and housing market were on the rise, thanks to a natural gas boom that brought jobs, workers and a housing shortage. Builders were frantically building in 2007, with 669 new single family building permits issued, and 2,866 total home sales in 2008. When natural gas prices plummeted at the end of 2008, jobs disappeared, workers began to leave, and plans for new subdivisions were put on hold.

The real estate market began a steady dive, bottoming out in 2010, when there were 179 new home starts and only 1,696 homes sold. Sales of existing homes started to pick back up in 2011, along with the number of new housing starts. The growth was slow, however, with small increases in property values, the total number of homes sold and the number of new housing starts. The Front Range boomed, while the Mesa County housing market seemed to crawl.

Fast forward to 2017. The market found its legs and began to run, with more than 3,500 sales through November and 664 new housing permits through Dec. 27.

"It feels a lot like 2006," said Darrell Bay with Mesa County Building Department. "The difference is in the staffing level."

While real estate and building activity is approaching the levels it was back in 2006 or 2007, both the city and the county have had to cut staffing levels, so there are fewer planners and engineers to review plans, which slows the process.
Click here to read more about the 2017 Real Estate Market in Grand Junction, Colorado