Here’s some good news for buyers who have been waiting for more selection…
No need to wait any more because the numbers show that more new listings are hitting the market compared to the recent past.
In Metro Denver, the number of homes for sale is up 14.42% compared to last year.
That equates to 800 more homes to choose from.
Start spreading the news!
Pretend that customer walks into our office and tells us they are looking for a single family home in Fort Collins. We would tell them that there are 314 to choose from. But if they told us their price range is up to $300,000, their choices would be limited to just 10 homes.
Single family homes priced under $300,000 only represent 3.18% of the total inventory in Fort Collins. This is a big reason why buyers are opening up their search to communities that surround Fort Collins.
Here’s a snapshot of the major Northern Colorado markets:
- Loveland: 176 Homes For Sale/15 Priced Under $300,000
- Windsor: 151 Homes For Sale/6 Priced Under $300,000
- Greeley: 98 Homes For Sale/33 Priced Under $300,000
- Fort Collins: 314 Homes For Sale/10 Priced Under $300,000
Last week Windermere’s Chief Economist Matthew Gardner joined us for our annual Market Forecast events in Colorado. We were pleased to host over 500 customers at two events in Denver and Fort Collins.
Here are some of the big takeaways that we shared:
- Interest rates will increase to 4.6% by the end of the year
- First-time buyers are back and will make up 47% of all buyers in 2017
- Inventory will remain at record lows and will continue to drive up prices
- Appreciation is expected to be between 9% and 7% across our Front Range markets
- Home builders will get creative in order to hit lower price points – we will see more “tiny homes” and more homes without basements