Are you looking for a home that’s a little bit country? Well you’ve found it! This ranch style home located at 301 SW 49th St in SW Loveland is on .28 acres with a large fenced yard, 2 storage sheds, a horse pasture behind property, and no HOA! Easy access to Loveland, Berthoud, and HWY 287. Contact Tammy Fisher for your private showing at (970) 218-3383 for more information or click the link below for more details.
We’ve seen some headlines recently that suggest home prices along the Front Range have peaked and are starting to decline.
When we dig in and do the research, this is what we find…
Home prices are still going up, just not as fast as they have been.
We’ve known that the double-digit appreciation that we’ve seen for the last several years could not be sustained and we expected the pace of appreciation to slow down.
So far in 2019, this is the case. Prices still going up, just not as fast.
It’s like running up stairs. Eventually you will get tired and you will need to start walking (but you’re still going up).
Headlines that suggest that prices have peaked and are falling create unrealistic expectations for buyers and give sellers a skewed perspective on the market.
Here are the numbers…
- Up 1.53% in Metro Denver
- Up 6.1% in Larimer County
- Up 5.1% in Weld County
Months of Inventory:
- 5 Months in Metro Denver
- 5 Months in Larimer County
- 4 Months in Weld County
- (Remember that 4-6 months of inventory represents a balanced market)
There has been an increase in Days on Market which means that homes are taking longer to sell. But the increase is measured in days, not months.
Here are those numbers…
Days on Market:
- Up 4 Days in Metro Denver
- Up 11 Days in Larimer County
- Up 3 Days in Weld County
So, be mindful of headlines that can be sensationalized and might suggest that the market is falling.
Bottom line, the market is going up, just not as fast as it was.
Come see 2664 Bluestem Willow Dr with hand troweled walls throughout, upgraded cabinets with soft close features in the entire home, gourmet kitchen with double oven and gas range. Huge kitchen island for prep and entertaining. Upgraded stone counters in addition to granite. Walkout basement finished with another suite with attached bath, and large family room with fireplace and wet bar. High ceilings, deck off of living room. Next to pool and trails. Recent appraisal for $750k! Contact Paul Hunter for your private showing at (970) 673-7285 for more information or click the link below for more details.
Enjoy the view of Lake Loveland from this immaculate duplex at 2411 Taft Ave B in the Cherry Hills neighborhood! Fully updated with custom finishes, this home features a large kitchen with heated tile, custom shelving and breakfast bar. Spacious living room with granite fireplace and dining room with wood floors. Large bedrooms and fantastic master suite with a private deck, walk-in closet and bath featuring artisan tile. Double wall between neighboring unit and a private fenced backyard! Contact Jon Holsten for your private showing at (970) 237-2752 for more information or click the link below for more details.
This ranch style home at 2318 Firstview Dr is on a quiet street with large trees and has no HOA. Inside has 2 separate living areas, office, and an open kitchen. The large backyard features a covered patio, raised flower beds, and privacy – a little outdoor oasis, perfect to drink your morning coffee or to have friends over to BBQ. Large insulated and heated 2-car garage. Brand new roof. Home has been pre-inspected. Contact Meagan Griesel for your private showing at 970-691-0056 for more information or click the link below for more details.
This home at 2707 Greenland Dr boasts 5 bedrooms, 3 bathrooms, finished basement and a 2 car garage. Enjoy your morning coffee in the relaxing sun-room just off of the kitchen. In the winter, retreat to the basement to unwind in front of the wood burning fireplace. The backyard is fully fenced with an additional shed to store all of the lawn maintenance equipment. Located close to Lake Loveland and the Benson Sculpture Park. Contact Rondi duPont for your private showing at 970-401-0123 for more information or click the link below for more details.
The following analysis of the Metro Denver & Northern Colorado real estate market (which now includes Clear Creek, Gilpin, and Park Counties) is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact your Windermere agent.
Colorado continues to see very strong job growth, adding 72,800 non-agricultural jobs over the past 12 months—an impressive increase of 2.7%. Through the first five months of 2018, the state added an average of 7,300 new jobs per month. I expect this growth to continue through the remainder of the year, resulting in about 80,000 new jobs in 2018.
In May, the state unemployment rate was 2.8%. This is slightly above the 2.6% we saw a year ago but still represents a remarkably low level. Unemployment remains either stable or is dropping in all the markets contained in this report, with the lowest reported rates in Fort Collins and Boulder, where just 2.2% of the labor force was actively looking for work. The highest unemployment rate was in Grand Junction, which came in at 3.1%.
HOME SALES ACTIVITY
- In the second quarter of 2018, 17,769 homes sold—a drop of 2.4% compared to the second quarter of 2017.
- Sales rose in 5 of the 11 counties contained in this report, with Gilpin County sales rising by an impressive 10.7% compared to second quarter of last year. There were also noticeable increases in Clear Creek and Weld Counties. Sales fell the most in Park County but, as this is a relatively small area, I see no great cause for concern at this time.
- Slowing sales activity is to be expected given the low levels of available homes for sale in many of the counties contained in this report. That said, we did see some significant increases in listing activity in Denver and Larimer Counties. This should translate into increasing sales through the summer months.
- The takeaway here is that sales growth is being hobbled by a general lack of homes for sale, and due to a drop in housing demand.
- With strong economic growth and a persistent lack of inventory, prices continue to trend higher. The average home price in the region rose
9.8% year-over-year to $479,943.
- The smallest price gains in the region were in Park County, though the increase there was still a respectable 7%.
- Appreciation was strongest in Clear Creek and Gilpin Counties, where prices rose by 28.9% and 26%, respectively. All other counties in this report saw gains above the long-term average.
- Although there was some growth in listings, the ongoing imbalance between supply and demand persists, driving home prices higher.
DAYS ON MARKET
- The average number of days it took to sell a home remained at the same level as a year ago.
- The length of time it took to sell a home dropped in most markets contained in this report. Gilpin County saw a very significant jump in days on market, but this can be attributed to the fact that it is a very small area which makes it prone to severe swings.
- In the second quarter of 2018, it took an average of 24 days to sell a home. Of note is Adams County, where it took an average of only 10 days to sell a home.
- Housing demand remains very strong and all the markets in this report continue to be in dire need of additional inventory to satisfy demand.
This speedometer reflects the state of the region’s real estate market using housing inventory, price gains, home sales, interest rates, and larger economic factors.
For the second quarter of 2018, I have moved the needle very slightly towards buyers as a few counties actually saw inventories rise. However, while I expect to see listings increase in the coming months, for now, the housing market continues to heavily favor sellers.
Matthew Gardner is the Chief Economist for Windermere Real Estate, specializing in residential market analysis, commercial/industrial market analysis, financial analysis, and land use and regional economics. He is the former Principal of Gardner Economics, and has more than 30 years of professional experience both in the U.S. and U.K.
It’s called “At Least List”
It measures how active the market is by tracking the number of single family homes that sell for at least list price.
Because of the demand in our market, many homes sell for list price or higher.
So here’s the latest based on closings so far in the month of July…
The percentage of single family homes selling for at least list price:
- Fort Collins = 58%
- Loveland = 67%
- Windsor = 55%
- Greeley = 75%
Based on these numbers, homes that are priced right, and positioned right in the market will attain the price the seller wants (or higher).
To see the whole story about our market along with other stats and trends, watch the recording of Tuesday’s Windermere Workshop right here.
This bright and open ﬂoor plan at 362 E 40th St just feels good from the moment you walk in. Well maintained, convenient location, and ready to move into! Big ticket items are all newer – roof, AC, furnace, and kitchen appliances. Features include vaulted ceilings, gas ﬁreplace, wood ﬂoors, spacious master w/large walk-in closet, fenced back yard w/raised garden beds and sprinkler system, and a nice pergola covering a large back patio. Basement is ready for future expansion. Contact Meagan Griesel for your private showing at 970-691-0056 for more information or click the link below for more details.