MESA COUNTY, Colo. (KKCO)-- Not only are houses being sold faster than last year, they're also being bought at higher prices and more frequently. Local real estate companies have more sales than this time last year, a sign the economy in Mesa County could be starting to turn around.
Some things haven't changed-- like the hot price range for houses that is still hovering right around $200,000-- but there is change in the real estate market, and many would argue it couldn't have come soon enough.
"We’ve been seeing a trend increase from the buyers for about the last eight months straight," Keller Williams Realty managing broker Kevin Borman said.
Real estate companies around the Grand Valley like Keller Williams are on track to sell more houses this year than last.
"Prices have come down over the last four years to where they're pretty low right now, and the interest rates are [at a] 40-50 year low,” Borman said. "The availability of properties is starting to drop, and the demand is growing."
That’s created a wave of positive changes, with brokers saying the median and average sold price are continuing to grow, investors are returning as buyers and fewer bank owned homes are on the market.
"We do not have as much inventory as we once did, so we do see a lot of multiple offers on bank owned homes," Keller Williams broker associate Andrea Haitz said.
Buyers appear to be more confident, too, with jobs in the county building buyer boldness.
"That translates to people wanting to stay here and buy homes," Haitz said.
Low interest rates have some even looking to build new custom homes from scratch, with Porter Homes on track to build 12 to 14 new homes this year.
"It’s just the best time to buy. The interest rate that people are getting on their homes is anywhere from three to five percent,” Porter Homes owner Nathan Porter said of new and for-sale houses. "This has been our busiest year since we started in March 2007."
So whether new or already standing, houses in Mesa County have proven they’re much more than just homes.
"The trends are showing good signs of stabilizing and possibly some good recovery," Haitz said.
Keller Williams says in most markets, December and January tend to be the weakest months in terms of home sales, but here in Mesa County things tend to be a bit more stable. It also says the buyer has also become more varied this year, including anyone from families to first time home buyers to those looking to downsize.