Real Estate Summary:

The first week of the new year is in the books! If you are hating the cold weather, there are only 69 days until spring. Continuing the recent trend of low inventory, our supply of active homes dropped again this week.  

Let’s dive in,

Last Weeks New Listings

Last Weeks Sold Listings

• There are 220 active listings in Mesa County. Down 3% from last week.

• The current market absorption rate is .63/months. That means if nothing new was listed, we would run out of active inventory in just over 2 weeks.

• The areas in Mesa County that had the highest price increases YOY were Whitewater 23%, Glade Park 22% , East Orchard Mesa 20%, and SE GJ 16%.

• Look below at the area summary for 2021. Is there anything you're surprised about?

It is extremely difficult and competitive for buyers right now. Of the 220 homes active in Mesa county, there are only 56 site built homes for sale under $400,000. The continued housing price increases are outpacing the Mesa County median income.

State and National News

• 30-year fixed rate mortgage went up 17 basis points from last week to an average of 3.44%. Link

• Experts for 2022: As mortgage rates rise, prices should moderate, but low inventory will continue to be a problem. Link

Mesa County News

• CDOT evaluates Glenwood Canyon as most dangerous section of I-70 Link

• Mesa County Libraries strategic roadmap: Link

• The Safeway shopping center in the Redlands sold for $1,702,500! Link 

Central High School unveiled their new logo. What do you think? Personally, I think it's great!

"A cheap home inspection is more expensive than a good home inspection."