According to new data released by Corelogic, a national consumer information company, homes in Grand Junction are increasing in both price and value.
New data shows home prices in Grand Junction rose by 3.5 percent this past April, when compared to the same time last year. News Channel 5 spoke with Kris McChesney, a realtor at Bray Real Estate, who said this increase is only partly true. McChesney said like any market, housing is driven by supply and demand, and right now, the area is going through a period where inventory is low which would normally drive the price up, but there is no increase in demand.
“In cases where you’re looking at homes and properties under $300,000 they are selling a little bit higher,” McChesney said. “But, if you’re getting above that $300,000 level, the buyers out there aren’t there, even though the inventory is still low, we just don’t have the purchasers, so it’s not driving the price up.”
The average home selling price in Mesa County is around $205,000, those homes, McChesney said are moving the quickest.