While your true love may be getting you a partridge in a pear tree in the near future, we decided to give you the 12 facts of Colorado 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
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.
This just in…
For the month of April, the average price of a home in the city of Boulder was $1,247,000. This is according to the latest from our IRES MLS system.
If you want to own a home about an hour down the road in another really nice college town and get a 66% discount, you may want to check out Fort Collins 🙂
Yes, despite the recent uptick in prices here locally, we are still a bargain compared to Boulder. Here are median single-family prices for our markets and their relative price to Boulder:
- Fort Collins = $414,237 (66.8% off)
- Loveland = $360,150 (71.1% off)
- Greeley = $290,000 (76.7% off)
- Windsor = $306,450 (75.4% off)
Grab a copy of our Investment Kit so you can see the simple steps to get started without stress or complication. Email us at firstname.lastname@example.org and we will send you a video which clarifies the process and our Investment Checklist so you can see what to do first.
We now measure inventory levels in terms of days.
Typically we measure in months. For instance, a “balanced market” is when there is 4 to 6 months of inventory currently for sale. Meaning that, in a balanced market, it would take 4 to 6 months to sell every home that is currently on the market.
Anything less than 4 months is a seller’s market. Certainly, when we measure in days, we are in an extreme seller’s market.
Today the Greeley market has 18 days of inventory, Fort Collins has 27 days, Loveland has 30, and Windsor has 51.
These are all lower than a year ago. For example, Greeley at this time last year had 27 days of inventory.
But this statistic can be misleading. Sometimes people assume that the extreme seller’s market applies to all price ranges and all locations.
Not true. When we drill down we find sub-patterns that are revealing. For example, homes in Loveland priced over $500,000 have 3 months of inventory and homes in Fort Collins over $750,000 have 5 months.
Because inventory levels tend to increase as prices increase, there becomes a distinct advantage for the move-up buyer. Today, many people can sell in an extreme seller’s market and move up to a price range with less competition and more selection.
This impeccably cared for home 7407 Rosecroft Dr situated on .3 acres with a fenced yard in Belmont Ridge awaits. The gorgeous 4 bedroom, 3 bathroom ranch home features a Great room with a vaulted ceiling, a formal dining room, breakfast nook and 3 car garage. The master retreat showcases a double sided fireplace, adjoining a 5 piece master bathroom, with a beautifully finished river rock shower. Entertain friends and family in the finished basement which is plumbed for a wet bar. This home is better than NEW! Call Rondi duPont for a private showing or click the link below for more details.
Immaculate 5 bdrm home on 3209 Ambush Dr in Wellington’s popular Buffalo Creek neighborhood! This fabulous property features numerous custom upgrades, to include the expanded kitchen with alder-wood cabinets, tile back-splash and large pantry. The open floor plan boasts vaulted ceilings and plenty of bright sunlight! Professionally finished basement. Large front porch, back yard patio and mature landscaping makes relaxing and entertaining a blast! 3 car garage with epoxy finished floor. Simply stunning! Call Jon Holsten for a private showing or click the link below for more details.
Adorable home at 941 Columbine on large lot comes with new Champion siding & windows, heated/insulated garage with new garage door, new furnace/air conditioning, new gas range and dishwasher, fresh paint, 2 sheds – one is a workshop! Off-street RV parking, established landscaping, no HOA. Enjoy an easy walk to the library, Tozer Elementary School, and neighborhood park. Outdoor deck is wired for a hot tub! The backyard has a large deck, fire pit, and a fenced in garden! Call Meagan Griesel for your private showing at 970-310-9357 or click the link below for more details.
BEAUTIFULLY maintained home at 2509 Tulane Dr, just a block from O’Dea Elementary. Permitted addition makes this home almost 2,400 square feet. Wood floors on the main floor in fantastic condition, open kitchen to the living room. Newer style vinyl windows throughout, new roof in 2015, new carpet in most rooms, and a brand new furnace! Landscaping is as close to perfect as it can get. Large office, study and recreation room with its own access to the backyard. An amazing opportunity under $400,000 in South College Heights! Call Paul Hunter for a private showing or click the link below for more details.
Here are some fun facts about 2017…
- $4.6 billion of residential real estate was sold in Larimer and Weld Counties. ($2.8 in Larimer and $1.8 in Weld). This volume is double what is was in 2012.
- There were 7,091 residential sales in Larimer County and 5,442, in Weld County.
- On average, it took 53 days to sell a home in Larimer County and 49 days in Weld County. In 2012 it took about 25 days longer to sell a home.