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.
So how much real estate is sold in Northern Colorado?
As it turns out, a lot!
Last month alone there were 1,099 single family homes that sold in Larimer and Weld Counties
The average price was $429,144 which means the total sales volume for one month was $471,629,129 (almost a half a billion)!
Over the last 12 months, just over $4.5 billion worth of single-family homes have sold.
That’s a lot of real estate!
Posted in Buying, Selling, Community, and Living by Tara Sharp
“Of course, thanks to the house, a great many of our memories are housed, and if the house is a bit elaborate, if it has a cellar and a garret, nooks and corridors, our memories have refuges that are all the more clearly delineated. All our lives we come back to them in our daydreams.”
Gaston Bachelard, the Poetics of Space
I have been following the news about the housing market pretty closely and am pretty disappointed with some of the articles declaring a case against homeownership. I couldn’t disagree more. If anything, I see the value of homeownership: responsible financial investment, social stability and community connection as more important than ever.
I was particularly moved by the story in the Seattle Times yesterday about the Lutz family in Ballard, a family with seven adopted siblings that are helping their parents move from their family home to a smaller condo now that their children have left the nest. Though their story is far from typical, it really resonates how home is the center of family life, a place where memories are created and how houses tell the stories of the lives we build while in their shelter.
Homes do that for people. They are the places where some of our most intimate stories unfold.
Finding and creating a home is an emotional, psychological, social and financial investment. There is a lot of energy involved in finding the place to envision the future, raise a family, and perhaps retire. There is no other investment as enjoyable as your own home. Investments in gold or stocks cannot compare to the feelings about a place where you collect memories, create spaces that reflect your ideals and develop to fit your needs over time.
Beyond the emotional ties to home, a number of studies have shown that home ownership has a great impact on feelings of personal autonomy, life satisfaction and increased investment in the community. The sense of satisfaction goes beyond the ability to paint walls whatever color we want, or make improvements to our homes on our own terms. It goes deeper by improving our sense of well being. Furthermore, when we have a stake in the community we live in, we participate more, making our neighborhoods safer and healthier for all members.
Not all the news about the housing market is negative, actually there are many great articles: “in defense of home ownership”, “ten reasons to buy a home “and “a dream house after all” to name a few. But regardless of where you stand on the housing market right now, we can all likely agree that there is no place like a home.
All of our experiences of home are unique. Please share your best memories of home.
Metro Denver has 2.1 months of inventory on the market. This means that, at the current pace of sales, it would take just over 2 months to sell every single-family home currently listed for sale.
But that’s not the whole story because inventory levels vary drastically depending upon the price of the home.
When we take a closer look at months of inventory broken down by price range this is what we see:
• Under $400,000 = 0.9 months
• $400,000 to $500,000 = 1.8 months
• $500,000 to $750,000 = 3.1 months
• $750,000 to $1,000,000 = 4.2 months
• Over $1,000,000 = 7.7 months
These numbers represent great news for move-up buyers because they can sell in a strong market and potentially move up to a market that is market that is not as strong.
Below is a short video with a recap of our annual Market Forecast presentation!
This gorgeous two story home at 5960 Jasper St in Timnath Ranch awaits. With 3 bedrooms and 3 bathrooms, this home has an open floor plan and has been updated throughout with granite counters, stainless steel appliances, lighting, plantation style shutters and much more. The beautifully landscaped back yard backs up to a greenbelt giving you more space and privacy between your neighbors. Enjoy the community pool, clubhouse and fitness center as an added bonus. Contact Rondi duPont for your private showing at 970-691-0056 for more information or click the link below for more details.
This 2 bedroom, 2 bathroom home at 3434 Rosewood Ln is the perfect combination with easy highway access and a secluded location across the street from a wonderful neighborhood park! Spacious upper level loft can be easily converted into third bedroom/suite. Unfinished basement offers tons of potential. Contact Suzi Espinoza for your private showing at 970-652-1394 for more information or click the link below for more details.
This 3 bedroom 3 bathroom at 1030 Akin Ave is a completely updated home that offers an open floor plan, gourmet kitchen, newer appliances, gas range, granite counter tops, and cabinets. Main floor master suite and private bath. Basement family room, 3/4 bath and a study. 2 car garage with alley access, fully fenced yard, mature irrigated landscaping,1 year old furnace and AC. Close to CSU, 2 blocks from City Park, 2 blocks to the trolley and walking distance to downtown. Call Chris Guillan for your private showing at 970-310-9357 or click the link below for more details.
Welcome Home to 401 Flicker Dr located in Central Fort Collins. This 5 bedroom, 3 bathroom home is close to CSU, The CSU Vet Hospital, The Max Station and offers a large lot with easy access to Mid Town, trails and shopping. Newer roof, kitchen, updated windows and paint. This home is a great investment and is move in ready. Taking Back Up Offers. Call Chris Guillan for your private showing at 970-310-9357 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.