A robust Mesa County housing market surged in the summer months as dollar volume increased more than 8 percent to about $480 million, an industry report showed Monday.

And with mortgage interest rates at attractive levels, a steady influx of new residents and a shrinking number of homes for sale — the area housing market seems poised for more growth.

For the three-month period ended Sept. 30, the Mesa County housing market notched total sales of $479 million, up from $442 million in the same period one year earlier, according to a data compiled by Stewart Title of Colorado.

The data reflects sales and prices of single-family residences.

“I see nothing in the marketplace that is going to slow it down,” said Bob Reece, area manager for the title company.

Those gains came as home sales slid more than 11 percent to 1,899 in July through September from 2,141 in July through September of 2005, the report showed.

While the decline in the number of homes sold was pronounced in the summer months, the data reflects continued low inventory levels in Mesa County, which have been declining for a few years.

From 2001-05, the inventory level of single-family residences has fallen from about 4.5 months to 3.75 months, according to an index compiled by Ted Jones, a senior economist with Stewart Title.

That makes Mesa County a seller’s market, the data suggests. A balanced housing market has about nine to 10 months of inventory, according to the index.

There is currently less than a four-month inventory of single-family residences in Mesa County, the title company reported.

“It’s been a seller’s market and the inventory is not there to sell,” said Buzz Moore, president of Bray and Co. in Grand Junction.

That combination has helped drive up prices.

The median price of a Mesa County home was $194,000 as of Sept. 30, 2006, the title company said. That’s nearly $20,000 above the median price of $174,375 for the year ended Dec. 31, 2005.

Looking ahead, the inventory level could continue to fall given a recent drop in building permits issued to developers of single-family residences.

A total of 347 permits were pulled in the three-month period that ended Sept. 30, down from 404 in the same period a year ago, according to the title company.

And through the first nine months of 2006, there have been a total of 1,134 permits pulled or the same number pulled during the first nine months of 2005, the title company reported.

The lack of new homes on the market should keep real estate agents and would-be buyers busy as the hunt for houses intensifies.

“I think it’s a really strong market,” said Debbie Dietmeyer, a real estate agent with RE/MAX Two Rivers Realty Inc. of Grand Junction. “I feel like it’s been very consistent in every area. The strongest (market) is between $200,000 and $300,000.”

She added, “Anything under $200,000, if it’s in good condition, it goes immediately.”

Wyatt Haupt can be reached via e-mail at whaupt@gjds.com.