This move in ready home at 2168 Ballard Ln offers a main ﬂoor master, brand new carpet and exterior paint. Newer appliances, amazing vaulted ceilings, loft, hardwood ﬂoors, newer ﬁxtures, corner lot, 22’x12′ deck, open ﬂoor plan, unﬁnished basement, and a fenced lot. Easy Access to I-25, CSU, Budweiser, and Cheyenne. This home is ready to go. Enjoy the Colorado Lifestyle and entertain in this gorgeous home. Contact Christopher Guillan at 970-310-9357 for more information or click below to view the photos and details, including price.
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.
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Enjoy afternoons on the patio surrounded by a beautifully landscaped yard at 3712 Bromley Dr. Host family & friends in the formal dining room or appreciate your evenings at home by one of the two fireplaces! Upgraded kitchen w/ an island has everything you need to cook the perfect meal. Upstairs boasts large bedrooms w/ plenty of space for everyone. Walk to Front Range Village for dinner out or head to the park. Close to great schools, shopping & dining! Contact Sarah Schilz for your private showing at 970-817-0906 for more information or click the link below for more details.
Come see this 3 bedroom 1 bath home at 1612 Maplewood Rd just minutes to Old Town today! 2 car garage AND carport AND RV parking. Plus a large fenced backyard and hot tub hookups for entertaining. New carpet, updated kitchen, and newer siding make this a fantastic deal. Just outside official city limits and no HOA! Contact Paul Hunter for your private showing at 970-673-7285 for more information or click the link below for more details.
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Economists say there are three reasons why we aren’t in a housing bubble today.
The first reason they mention is the amount of new home construction compared to the 2006 housing bubble.
Today, along the Front Range, new home starts are down 38% compared to 2006. This is despite a much higher population than 12 years ago.
A major factor that caused the bubble was the glut of new construction inventory which doesn’t exist today.
Metrostudy, a leading new home research firm, says that Front Range builders need to have built 30,000 more new homes over the last 5 years to keep up with demand.
To see the whole story about our market along with other stats and trends, watch the recording of Tuesday’s Windermere Workshop right here.
If you want to be totally clear on all the stats, facts and trends in Colorado real estate so that you know what the future value of your home looks like, watch this video.
This is a complimentary service for our clients and friends.
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This condo at 3815 Steelhead St F16 in desirable southeast Fort Collins comes with an ofﬁce, and offers a kitchen with a breakfast bar, granite and stainless appliances, gas ﬁreplace, separate dining room and a private courtyard with 2 additional patios to enjoy the outside living space. Close to shopping, restaurants, new community park and easy access to the interstate. Community offers a pool and clubhouse! Contact Kelly Swift for your private showing at 970-310-4876 for more information or click the link below for more details.
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This well-maintained 3 bedroom home at 1703 Falcon Ridge Dr in the popular Linden Park neighborhood! Featuring a wide-open floor plan with high, vaulted ceilings and beautiful wood floors, your new home is super clean and move-in ready. Formal living room and family room with fireplace. Spacious kitchen with plenty of counter space. Unfinished basement for future expansion! Low maintenance back yard and landscaping for outdoor entertaining and relaxing! Contact Jon Holsten for your private showing at 970-237-2752 for more information or click the link below for more details.
This home at 4013 Capstone Ct features a gorgeous kitchen with Ikea cabinets and stainless steel appliances. Wide open ﬂoor plan with high vaulted ceilings and wood ﬂoors in the kitchen, living and dining rooms. Family room with high-end ﬁreplace insert and blower. Finished basement offers built in bookcases & wet bar w/ another bedroom and bath. Large deck and mature landscaping for outdoor entertaining and relaxing. Contact Jon Holsten for your private showing at 970-237-2752 for more information or click the link below for more details.
3826 Rock Creek Dr #D is at a great location on the Harmony Corridor with access to shopping, dining, medical, schools, biz & more. Mountain views and a summertime pool. Includes designer tile, granite, wood flooring, new paint, stainless steel appliances, vaulted ceilings, open floor plan, den/office, and a fireplace–just what you want! Large finished basement with private bedroom and bath. Fenced yard and deck. This unit is pristine but you must see for yourself! Contact Kyle Basnar for your private showing at 970-481-5689 for more information or click the link below for more details.
Developers are not building enough single-family homes to keep up with demand. The reason why? Cost. Windermere’s Chief Economist, Matthew Gardner explains why new construction is so cost prohibitive and how to shift the trend.
The post How to Get Back to a Balanced Housing Market appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.
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- Colorado Real Estate Market Update July 31, 2018The 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 […]
- Colorado Real Estate Market Update November 3, 2017ECONOMIC OVERVIEW Colorado added 45,800 non-agricultural jobs over the past 12 months, a growth rate of 1.8%. Within the metropolitan market areas included in this report, annual employment growth was seen in all areas other than Grand Junction (where employment was stable) with substantial growth seen in Fort Collins (4.6%) and Greeley (3.5%). In August, […]
- #YourStoryIsOurStory: Taking the Time to Make the Right Move September 30, 2017When Gordy was offered a promotion, he and his wife Linda would need to relocate and give up their custom home. It wouldn’t be easy, but lucky for them, they found Windermere Real Estate agent, Dawn Hardman. Over the course of a year, Dawn and Linda spent a lot of time together. Dawn took on the role of host to her new […]