GRAND JUNCTION, Colo. — Home buyers in Mesa County finally caught a break to start 2024. Active listings jumped to 593 homes in January, an 8% increase from January 2023 and the highest January inventory in three years, according to Bray Real Estate’s latest monthly report.
The extra choices are already changing how people shop for homes, agents say, giving buyers more leverage than they’ve had since the pandemic frenzy peaked.
More Homes, More Options for Buyers
Amanda Hill, broker associate at Bray Real Estate, told KJCT the jump from roughly 548 listings last January to 593 this year feels significant on the ground.
“Buyers actually have selection again,” Hill said. “They’re not forced to waive inspections or bid $50,000 over asking just to get their offer looked at.”
The slight dip from 600 active listings at the end of December shows normal seasonal slowing, but the year-over-year gain marks the third straight month of rising inventory in Mesa County.
That’s welcome news for frustrated buyers who sat out 2022 and 2023 when some months saw fewer than 400 homes available county-wide.
Still a Seller’s Market, But Less Extreme
Even with the increase, Mesa County remains firmly in seller’s territory with just three months of supply across all price ranges.
A balanced market needs five to six months of inventory. At the current sales pace, every home on the market today would sell out in 90 days if no new listings appeared.
The median sales price held steady at $392,500 in January, virtually unchanged from December and only 2% higher than January 2023.
Price growth has cooled dramatically from the double-digit jumps seen in 2021 and 2022, giving buyers breathing room they haven’t had in years.
North Grand Junction Dominates Sales Volume
The north side continues to lead the pack. Zip codes 81505 and 81506 combined for 388 closed sales in 2023, more than any other area in the county.
Grand Junction’s core 81501 zip code came in second with 375 transactions.
These numbers reflect contracts written mostly in November and December, when many buyers pause their search for the holidays.
January closings always feel slower, Hill explained, but the contracts signed during the typically quiet period show buyers stayed active through the end of 2023.
Spring Market Could Heat Up Fast
Real estate professionals report lenders are busier than usual for this time of year and multiple agents say their phones started ringing again the first week of January.
The traditional spring rush from May through September still exists, but the pandemic permanently changed seasonal patterns.
“After COVID, we’re busy pretty much year-round now,” Hill said. “The sharp drop-off we used to see when school started just isn’t as dramatic anymore.”
Lower mortgage rates in late 2023 brought some buyers off the sidelines, and many who waited for even better rates are now moving forward as they realize waiting longer might mean facing more competition.
Local agents expect inventory to keep climbing through spring as sellers who delayed listing in 2023 decide to make their move while demand remains strong.
The combination of rising supply and steady demand could create the most balanced market Mesa County has seen since 2020, potentially giving both buyers and sellers reason to feel optimistic about the year ahead.
What do you think this means for the Grand Valley housing market in 2024? Are you planning to buy or sell this year? Drop your thoughts in the comments below.
