Uncategorized December 30, 2019

Save Your Spot

A quick, simple Fun Fact for you this week…

It’s time to sign up and register for our annual Market Forecast event.

We will be live in Denver on January 15th at the Wellshire Events Center.

And In Fort Collins on January 16th at the Marriott.

Both events start at 5:30.  Choose which location works best for you.

Matthew Garder, our Chief Economist, is the Keynote speaker.

Click the links above to RSVP.

 

It’s time to register for our annual Market Forecast event.  We will be live at 5:30 on January 16th at the Marriott in Fort Collins.  Back by popular demand is our Chief Economist Matthew Gardner.  Save your seat HERE.

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Posted on December 27,

 

BuyingHomes for SaleHousing TrendsNorthern Colorado Real EstateSellingWindermere Real Estate December 27, 2019

Vital Signs

Here are the vital signs for the Northern Colorado market.

First, Larimer County:

  • Average prices are up 2.4%
  • Number of transactions is down 2.5%
  • Inventory is up 11.9%
  • Days on market is up 4.1%

Now, Weld County:

  • Average prices are up 4.3%
  • Number of transactions is up 3.6%
  • Inventory is up 12.9%
  • Days on market is flat (same as last year)

What this means is prices are still going up, just not as fast as they were a couple of years ago.  More inventory is coming on the market which is great news for buyers.

 

Northern Colorado Real EstateWindermere Real Estate December 25, 2019

The 12 Facts of Real Estate

  • 1 is the ranking Colorado owns for long-term home price appreciation versus all other states
  • 2.6% unemployment rate in Colorado right now
  • 3.73% mortgage rate for a 30-year mortgage which is about half of the long term average
  • 4.7% apartment vacancy rate in Metro Denver, the lowest since 2015
  • 5.5% is the long-term average for yearly home price appreciation along the Front Range
  • 6,000,000 live in Colorado
  • 7,000 residential properties are for sale in Metro Denver right now and the average for this time of year is 14,700
  • 80,000 is the number of people that is added to our state’s population each year
  • 9 homes are for sale in Larimer and Weld County priced over $2,500,000
  • -10% is the decrease in new home construction in Larimer County compared to last year while Weld County grew by 17%
  • 11 times in the last 40 years home prices have gone up at least 8% along the Front Range
  • $1,202,488 is the average price for a single-family home in the City of Boulder

BuyingHomes for SaleHousing TrendsNorthern Colorado Real EstateSellingWindermere Real Estate December 23, 2019

County by County

Metrostudy, who in our opinion is the leader in new home research, recently did a study on the average price of a new home in each of the Front Range Counties.

Here are some interesting takeaways…

 

If you want to find the least expensive new home on the Front Range, the places to look are Weld County and El Paso County.

 

·         Weld County Average New Home Price  = $411,269

·         El Paso County Average New Home Price = $427,361

 

The most expensive place for a new home is in Boulder County (no surprise) at $698,208.

 

Jefferson County has the largest difference between the average price of a new home and the average price of a resale home:  $664,600 vs. $510,003.

 

Here’s the County by County breakdown of the average price of a new single-family home:

·         Boulder = $698,208

·         Jefferson = $664,600

·         Douglas = $624,315

·         Broomfield = $612,779

·         Denver = $581,480

·         Arapahoe = $545,943

·         Larimer = $507,105

·         Adams = $480,464

·         El Paso = $427,361

·         Weld = $411,269

BuyingFort Collins Real EstateGreeley Real EstateHousing TrendsJohnstown Real EstateLivingLoveland Real EstateNorthern Colorado Real EstateTimnath Real EstateWellington Real EstateWindermere Real EstateWindsor Real Estate December 9, 2019

Job News

There is an abundance of great news when it comes to employment in Colorado.

The unemployment rate is incredibly low at 2.7% which is almost a full percentage point lower than the U.S. average.

According to the Bureau of Labor Statistics, Metro Denver added 28,300 jobs over the last year which ranks 15th out of all metropolitan areas nation-wide, many of which have much larger populations than Denver.

While this is positive news, what is even more remarkable is what is happening in the other, smaller cities along the Front Range.

Anytime job growth exceeds 2.0% per year, it is a sign of a very healthy economy.

Here is what the other Cities have seen in terms of job growth over the last 12 months.

• Fort Collins 2.6%

• Greeley 2.5

• Colorado Springs 1.9%

BuyingFort Collins Real EstateHousing TrendsNorthern Colorado Real EstateWindermere Real Estate November 29, 2019

Time for New

 

Here is a fact…

If you have ever thought about owning a new home, the last two months of the year are usually the best time to make that happen.

Here’s why…

Many builders have year-end goals and sales quotas to hit.  If they have a “standing inventory” of homes that are completed but not sold, they are typically motivated to sell these homes by the end of the year.

This dynamic can be especially true for publicly-traded builders who are even more motivated to hit year-end sales numbers.

Up and down the Front Range there are beautiful new homes in fantastic neighborhoods.  The builders of these homes may be happy to make concessions and provide incentives as long as you close by year-end.

We just recently helped a buyer with a very compelling incentive package from a builder which included a lower price, additional landscaping and window coverings.

If you would like more details about these kinds of opportunities, reach out and we can help.

BuyingHomes for SaleHousing TrendsLoveland Real EstateNorthern Colorado Real EstateSellingTimnath Real EstateWellington Real EstateWindermere Real EstateWindsor Real Estate November 27, 2019

Two Tales

 

This is a Tale of Two Counties.

When it comes to new home activity, there is a big difference between Larimer and Weld Counties.

Larimer County’s new home starts are down 10% and new home closings are down 15% compared to last year.

Weld County’s new home starts are up 18% and new home closings are up 8% compared to last year.

This is all according to the new home research experts and Metrostudy.

So why the difference?  It comes down to price and availability.

There is more land available for new home development in Weld County.

Plus, the land tends to be less-expensive than Larimer which means that builders can deliver a lower-priced product and reach a larger pool of buyers.

The average price of a new home in Larimer County is $507,105 while the average new home price in Weld is $411,269.

 

Continue reading

BuyingHomes for SaleNorthern Colorado Real EstateWindermere Real Estate November 25, 2019

All Time High

 

Home Builder’s confidence in Baby Boomer buyers is at an all time high.

The National Association of Home Builders (NAHB) surveys their members each quarter to discover what they expect of future sales.

 

The builders base a large part of their answer on how many people are visiting their sales centers and model homes versus the same time last year.

 

The results in their most recent survey show that builders have never been more confident about buyers who are 55 and older.

 

The confidence index for this age group is actually double of what it was in 2012.  The NAHB sites low interest rates and strong job growth as the reasons for the high confidence.

BuyingHousing TrendsNorthern Colorado Real EstateSellingWindermere Real Estate October 25, 2019

Most Active

 

What is the most active price range in Northern Colorado?  Take a guess…

  • $300,000 to $400,000
  • $400,000 to $500,000
  • $500,000 to $750,000
  • $750,000 and above

By far, the most active price range is $300,000 to $400,000 with 60% more closed transactions than the $400,000 to $500,000 range and 400% more than homes priced $750,000 and above.

However, this lower price range does not have the most inventory.  The price range with the greatest selection of homes is $500,000 to $750,000.

BuyingFort Collins Real EstateHomes for SaleHousing TrendsLoveland Real EstateNorthern Colorado Real EstateSellingTimnath Real EstateWellington Real EstateWindermere Real EstateWindsor Real Estate October 11, 2019

Reduced

Some fascinating research from the Denver Metro Association of Realtors…

37% of properties that sold last month along the Front Range had a price reduction at some point during the listing period.

Property owners who have to reduce their price take an average of 58 days to receive an offer.

Those who don’t have to reduce their price only take 13 days.

This stat obviously speaks to the importance of pricing your property right on day one.