Metropolitan Statistical Area (MSA):
Grand Junction, CO is a Metropolitan Statistical Area (MSA) comprising counties including Mesa County.
There is no doubt that the real estate market in Grand Junction, Colorado is booming. The combination of a strong economy and a growing population has led to increased demand for housing, which has driven up prices and created a sellers’ market.
The median home price in Grand Junction has increased by nearly 8% over the past year, and is now just over $270,000. This is well above the national average of just under $225,000, and is indicative of the strong demand for housing in the area.
Inventory levels have also been tight, with only about 2 months’ worth of homes available for sale. This means that buyers are competing against each other for available properties, driving up prices even further.
Looking forward, it seems likely that the real estate market in Grand Junction will continue to be strong. The area’s economy is expected to grow at a healthy clip in the coming years, while population growth should also remain robust. This will keep demand for housing high, which should support continued price increases.