Grand Junction area home sales fell 32 percent in 2009
January 22, 2010
A strong increase in single-family home sales in the fourth quarter of 2009 was the silver lining in an otherwise tough year for the Grand Junction housing market.The Colorado Association of Realtors reported a total of 1,766 single-family homes were sold last year, down from 2,616 in 2008 in Grand Junction. That marked a drop of about 32 percent in the year-over-year period.The percentage decrease was the second highest among the 24 metro districts tracked by the association. Data were released this week.The Aspen and Glenwood Springs metro district recorded the highest drop in sales at 71 percent in the year-over-year period.At the same time, the median price for a single-family home in Grand Junction dropped to $209,343 from $223,486. That translated to a decrease of 6 percent in the year-over-year period.”I think 2009 was kind of a tough year across the nation,” said Erika Doyle of Doyle & Associates, and chairwoman of the Grand Junction Area Realtor Association. “We were no different.”Year-end totals were bolstered by a strong fourth quarter, in which single-family home sales surged 59 percent to 453 in the three months ending Dec. 31 in Grand Junction.The percentage gain was the second highest in the quarter among the 24 metro districts covered in the association data. The highest was Telluride, which notched a gargantuan 1,000 percent in increase in sales to 11 from 1 for the quarter-over-quarter period.All told there were 59,156 single-family home sales in the Centennial State last year, or about 12 percent less than 67,040 recorded in 2008.At the same time, the median price of a single-family residence eased to $214,584 from $225,833, or 5 percent.While most metro districts in state posted decreases in median home prices, some were able to buck that course, including Logan, up 8 percent, and Telluride, up 7 percent in 2009.Looking ahead, Doyle said she is “cautiously optimistic” about 2010.”I think 2010 holds a lot of good things for buyers,” she said. “Here we have one of the best inventories to choose from.”Sellers are really getting their properties in tip-top shape. That is good for buyers.”We also have good indications nationally with increasing sales.”She said for her real estate business, which is located in Grand Junction, that January is “already going to be better for me,” when compared to January 2009.