Garfield real estate prices keep rising
Low inventory in some sectors of Garfield County real estate is pushing prices higher, and buyers must act quickly for lower-priced housing, real estate agents said.Things are definitely moving, said Tonya Nieslanik, owner and broker at Vicki Lee Green Realtors.Properties countywide are selling in about three months, which is relatively fast and in some markets, they are moving even more quickly, she said. In Rifle, homes priced less than $200,000 generally sell in about a month, thanks in part to oil and gas workers moving in, Nieslanik said.Oil and gas workers are also having a particularly strong effect in Battlement Mesa and Parachute , said Jack Pretti, broker and owner of Colorado Heritage Real Estate. EnCanas move to Parachute is spurring both commercial and residential business, he said. According to Land Title Guarantee Co., 914 real estate transactions commercial, residential and land took place in Garfield County through May, an increase of 42.4 percent over the same period last year. The market is nearly on pace with the year 2000, the first and most active year for which the company has records, Land Titles Joe Carpenter said. The active and tight market especially in middle-income and rural houses with acreage, called ranchettes is good for homeowners, who should see their property value appreciate a bit more quickly, Pretti said. In addition to new arrivals in the oil and gas industry, low interest rates and the appeal of the Roaring Fork and Colorado river valleys are also helping the activity, said John Wendt, a managing broker at Mason & Morse in Glenwood Springs.
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