Mountain Paradise

750 Klondike Avenue, Nederland is the perfect mountain getaway. This home sits minutes away from Eldora Ski Resort. Mountain biking, hiking and fishing right at your fingertips but close enough to the Town of Nederland for necessities. Professional pics and drone video to come. This home is being sold *AS IS*; selling agent is related to seller. Contact Lindsey Crisanti at (970) 420-4498 to schedule your private tour or click here for more information.

 

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Population Math

The brand new Census data has just been released and it is fascinating!

Colorado’s population now sits just below 6 million people at 5.773 million.  Just 20 years ago it was 4.301 million.

Northern Colorado is booming and now has 688,047 in Larimer and Weld Counties.  It grew by 135,592 people in just ten years.  If Northern Colorado grows at just 2% per year, it will have 838,725 people by 2030 and 1,022,402 by 2040.  

For several years we have been predicting that Northern Colorado would exceed by 1 million people by 2040 and it looks like that will come true.

Metro Denver is also booming.  For reference, we define ‘Metro Denver’ as Adams, Arapahoe, Denver, Douglas, and Jefferson Counties.

Population in Metro Denver is now 2.831 million and was 2.109 million in the year 2000.  It has grown by 722,000 people in 20 years.

If Metro Denver grows at 2% per year, it will hit 3.451 million in 10 years and 4.206 million in 20 years.

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$5,790 Per Month Income Property!

613 S. Sherwood St, Fort Collins offers 3 units one block from CSU! The front house has off street parking, and Old Town charm. The permitted duplex accessed from the alley has two units featuring 4 bedrooms and 2 bathrooms per unit. Spacious living rooms and kitchens with decks. Unique investment opportunity with amazing return! Contact Paul Hunter at (970) 673-7285 to schedule your private tour or click here for more information.

 

Unit 1:

 

Unit 2:

 

Unit 3:

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Dream Home at Horsetooth Reservoir

5815 Bighorn Crossing is an incredibly rare opportunity to own a one of a kind home on 35 acres at the top of Horsetooth Reservoir. This fantastically designed, extremely private, 4 bedroom 3 bath, artist’s dream home, boasts stunning 360 degree views!! Enjoy evening sunsets over looking Horsetooth Reservoir from your primary bedroom deck. Just steps above, leads to an exclusive rooftop terrace with show stopping panoramic views of Ft. Collins, Loveland, and the Reservoir. Make your way down to the outdoor seating area and enjoy a glass of wine from your very own custom wine cellar built into the mountain. Just minutes away from Inlet Bay Marina, and the endless activities of Horsetooth. You won’t want to miss this RARE opportunity for mountain living at it’s finest. Contact Dana Myers at (970) 381-2257 to schedule your private tour or click here for more information. 

 

 

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Move-In Ready Condo

3500 Rolling Green Drive #P57, Fort Collins is a fabulous 2-bedroom condo in mid-town’s popular Collindale community! This two-story unit with main level entry and living space boasts easy access and plenty of upgrades. From the kitchen with plenty of counterspace and storage — to the cozy living room with a fireplace, this home is move-in ready! Upstairs, you’ll find both bedrooms, including the large primary suite. Partially finished basement with rec area and tons of storage. Relax or entertain on the private front porch or back patio, surrounded by association maintained green space, shrubbery and large trees. Detached one car garage is just steps away, and additional on-street parking is super convenient. Close to the community pool with optional membership, shopping, golf, restaurants, bike trail and all this great community has to offer! A terrific opportunity and great value! Contact Jon Holsten at (970) 237-2752 to schedule your private tour or click here for more information. 

 

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Lovely Former Model Home

5700 Edgevale Street is a fabulous 5-bedroom home on a corner lot in the highly coveted Summerfields at Timnath Ranch neighborhood! This former builder model home is meticulously cared for, and boasts too many upgrades to list. The sprawling kitchen w/ large island is a chef’s dream w/ high-end lighting, stainless appliances, wood flooring, granite and awesome pantry. The kitchen flows to the huge family room w/ a gas fireplace. Separate dining and living rooms feature vaulted and coffered ceilings, columns and wainscoting. Also on the main level, you’ll find a guest suite or office w/ a bath. Upstairs, you’ll quickly find yourself in the massive loft, surrounded by four bedrooms, including the primary suite w/ 5-piece bath and walk-in closet. Relax or entertain on the patio overlooking the back yard. Huge unfinished basement and an oversized 3 car garage! Outstanding amenities, to include one of Northern Colorado’s largest neighborhood pools and exercise facilities. Two nearby parks and several fishing ponds! Contact Jon Holsten at (970) 237-2752 or Dana Myers at (970) 381-2257 to schedule your private tour or click here for more information.

 

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Lovely Former Model Home

5700 Edgevale Street is a fabulous 5-bedroom home on a corner lot in the highly coveted Summerfields at Timnath Ranch neighborhood! This former builder model home is meticulously cared for, and boasts too many upgrades to list. The sprawling kitchen w/ large island is a chef’s dream w/ high-end lighting, stainless appliances, wood flooring, granite and awesome pantry. The kitchen flows to the huge family room w/ a gas fireplace. Separate dining and living rooms feature vaulted and coffered ceilings, columns and wainscoting. Also on the main level, you’ll find a guest suite or office w/ a bath. Upstairs, you’ll quickly find yourself in the massive loft, surrounded by four bedrooms, including the primary suite w/ 5-piece bath and walk-in closet. Relax or entertain on the patio overlooking the back yard. Huge unfinished basement and an oversized 3 car garage! Outstanding amenities, to include one of Northern Colorado’s largest neighborhood pools and exercise facilities. Two nearby parks and several fishing ponds! Contact Jon Holsten at (970) 237-2752 or Dana Myers at (970) 381-2257 to schedule your private tour or click here for more information.

 

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Q2 2021 Colorado Real Estate Market Update

The following analysis of the Metro Denver & Northern Colorado real estate market 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 Real Estate agent.

REGIONAL ECONOMIC OVERVIEW

Although the post COVID-19 job recovery took a step backward last winter, it has since picked up again, which is very pleasing to see. At the end of the second quarter, the state had recovered more than 276,000 of the 376,000+ jobs that were shed due to COVID-19. Even though employment levels are still almost 100,000 lower than the pre-pandemic peak, they are heading in the right direction. Looking at the markets contained in this report, current employment levels in Colorado Springs are only 2.2% below the pre-pandemic peak, followed by Denver and Fort Collins, which are both down 3.6% from the 2020 peak. I would add that all markets showed jobs continuing to return. With total employment levels rising, the unemployment rate stands at 6.2%, down from the pandemic peak of 12.1%. Regionally, unemployment levels range from a low of 4.8% in Boulder to a high of 6.3% in Grand Junction. COVID-19 infection rates dropped during the quarter, which is certain to lead to employment levels continuing to rise unless we see another significant increase in infection rates due to the rise of new variants across the country.

 

COLORADO HOME SALES

❱ The late spring/early summer market was a good one for home sales, which were up 33.9% from a year ago. Comparing the current quarter to a period when COVID-19 was widespread is not that informative, but, with sales up more than 55% from the first quarter of this year, the market appears to be very buoyant.

❱ Sales were higher in all counties other than the very small Clear Creek County. Where sales rose, they did so at double-digit rates in all markets other than Weld.

❱ During the second quarter, 13,428 homes sold. This is very impressive but not overly surprising, given that the average number of homes for sale was up 45% from the first quarter.

❱ Another positive was that pending sales, which are an indicator of future closings, were 42.8% higher than in the first quarter. This suggests that closings next quarter should be positive as well.

 

A bar graph showing the annual change in home sales for various counties in Colorado.

 

COLORADO HOME PRICES

A map showing the real estate market percentage changes in various counties in Colorado.

❱ Prices continue to appreciate at an impressive pace, recording an increase of 28.1% year over year to an average of $615,409. Home prices were also 10.7% higher than the first quarter of this year.

❱ Buyer demand remains very strong, likely exacerbated by the drop in mortgage rates in the second quarter and improving levels of inventory.

❱ Year-over-year, prices rose across all markets covered by this report, with the exception of Clear Creek County. Of the markets that saw prices rise, all did so by double digits, with very notable gains in Boulder, Gilpin, and Park counties.

❱ Affordability levels continue to trouble me, and the pace of price appreciation has to slow at some point. The market is clearly still out of balance, but as long as the credit quality of buyers remains high, I do not see any cause for concern.

 

A bar graph showing the annual change in home sale prices for various counties is Colorado.

 

DAYS ON MARKET

❱ The average number of days it took to sell a home in the markets contained in this report dropped 14 days compared to the second quarter of 2020.

❱ The amount of time it took to sell a home dropped in every county contained in this report compared to the second quarter of 2020. The exception was Gilpin County, where it rose by only two days.

❱ It took an average of only 14 days to sell a home in the region, which is down 11 days compared to the first quarter of this year.

❱ The Colorado housing market remains very tight, as demonstrated by the fact that it took less than a month for homes to sell in every county other than one.

 

A bar graph showing the average days on market for homes in various counties in Colorado.

CONCLUSIONS

A speedometer graph indicating a seller's market in Colorado.

 

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.

Sales rose on the back of lower mortgage rates and higher levels of homes available to buy. Although this should signify a move back to a more balanced market, we are not there yet as price growth remains well above the long-term average.

With solid demand and favorable financing rates, the market is expected to remain active as we move through the balance of the year. That said, housing affordability is becoming an increasingly large concern. According to the Colorado Association of REALTORS®, statewide affordability for single-family homes has dropped almost 20% year-over-year and is down 17.8% for multi-family homes.

At some point, an affordability ceiling will be reached, which will slow home-price appreciation—but not yet. As such, I am moving the needle a little more in favor of home sellers, as they remain in the driver’s seat, for now.

 

ABOUT MATTHEW GARDNER

Matthew Gardner - Chief Economist for Windermere Real Estate

As Chief Economist for Windermere Real Estate, Matthew Gardner is responsible for analyzing and interpreting economic data and its impact on the real estate market on both a local and national level. Matthew has over 30 years of professional experience both in the U.S. and U.K.

In addition to his day-to-day responsibilities, Matthew sits on the Washington State Governors Council of Economic Advisors; chairs the Board of Trustees at the Washington Center for Real Estate Research at the University of Washington; and is an Advisory Board Member at the Runstad Center for Real Estate Studies at the University of Washington where he also lectures in real estate economics.

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Charm + Acreage!

439 42nd St SW, Loveland is a beautiful brick farmhouse built in 1920 has all of it’s original charm and has been updated and maintained thoroughly for you to enjoy for years to come. Sprawl out on nearly an acre of land ready for your animals, including a tac room with heat and electric. This property also has a full RV hookup with 50 amp electrical and water connection. Rent out the RV space or enjoy it for yourself! New Roof in 2021. Contact Jared Foster at (970) 690-5707 or Alexis Foster at (970) 310-6999 to schedule your private tour or click here for more information. 

 

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Darling Loveland Home

You won’t want to miss this adorable 2 bed 1 bath home, close to lake Loveland. 7 Marmac Drive, Loveland is oozing with charm and is priced under $300,000. Enjoy your evenings on the back sun porch with views of the Lake. Or relax in your living with a roaring fire and gorgeous hardwood flooring throughout most of the main level. Come see this one before it’s gone! All information is deemed reliable but is subject to errors, schools & measurements/SF are approximate and should be verified by the buyer. Showings Saturday and Sunday only. Contact Jared Foster (970) 690-5707 or Alexis Foster at (970) 310-6999 to schedule your private tour or click here for more information. 

 

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