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Cortez two-bedroom rental prices see dip

The cost of renting a two- or three-bedroom unit in Cortez has dropped noticeably in the past four years, according to a housing report released this month.

The drop contrasts sharply with rental rates in neighboring La Plata County , which saw a 20% rise in rent for a two-bedroom unit in the past four years. Elsewhere in Montezuma County, rental rates remained more stable in Mancos and Dolores.

Overall median home prices countywide, however, saw a rise – going up from $171,000 in 2014 to $217,500 in 2018, according to the report.

The report by the Region 9 Economic Development District of Southwest Colorado highlights 2018 prices and how much residents need to earn to afford a home.

One purpose of the report, the district said, was to look at housing stability in the area.

“Stable housing provides a platform where households can attend to the needs of children, pursue educational and career goals, take care of their sick and elderly, become members of a neighborhood and conduct other personal and social activities,” the report says.

Profits cool for home sellers in Southwest Florida

Home sellers in Southwest Florida saw softer profits in early 2019.

Sarasota-Manatee residents who sold homes during the first quarter pocketed an average gain of $54,900, the lowest total in more than three years, according to a new report by real estate researcher ATTOM Data Solutions.

That marked a 29.1% return from their purchase price, ranking the Sarasota-Manatee area 56th among the 124 largest U.S. metro areas measured.

That profit margin on sales of existing single-family homes and condominiums was down by $5,600 from the previous three-month period and by $15,100 from one year earlier, ATTOM said.

The smaller profits tracked the nation, where sellers realized an average price gain of $57,500, a 31.5% return that was down slightly from the previous quarter and flat from last year.

“We are starting to see home sales prices and profit margins softening for the nation, and the average homeownership tenure did see a slight dip from last quarter,” said Todd Teta, chief product officer at ATTOM. “However, home prices are still above pre-recession peaks in 59% of local markets, and as the buying season starts to kick into gear, the next few months may provide even more answers to the question of whether a lasso is indeed around the market or if the recent trend is a temporary bump in the ride.”

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