Small is the New Big

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The average size of new homes is dropping.  This is after a two-year period that saw size increase significantly.  This is according to the National Association of Home Builders’ Eye on Housing.The COVID-19 pandemic changed how much time people spent in their homes and also how they used their homes. Homeowners discovered a need for more residential space as work-from-home became more prevalent.  This caused a demand for larger space.Now, as housing affordability has become more important, that trend is reversing.  Median single-family square floor area fell to 2,203 square feet during the fourth quarter of 2022, and is now the lowest it has been since 2011.

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New Listings February 2023

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Welcome to stress-free, move-in ready living! Seller has owned 3143 20th Avenue Court less than a year and had NEW Plantation Shutters and Ceiling Fans installed planning to make this their family home for years to come. A work transfer put that dream to sleep and now you can benefit from all this home has to offer! Featuring 4 bedrooms, 2 full bathrooms and 2 separate living spaces this home’s interior touches include beautiful quartz countertops in the kitchen, plantation shutters throughout the home, ceiling fans in every bedroom and living space, Nest Thermostat, Nest Google Doorbell, plus a microwave and dishwasher that were installed in 2021. Head outdoors to the large deck and patio area to enjoy your fully fenced, sizable yard with easy access to the two-car garage. Breathe easy knowing the roof was replaced in 2022, gutters in 2021 and the cul-de-sac offers much less traffic in front of your new home. Conveniently located close to shopping and restaurants. Call (970) 214-9479 to schedule a private tour or click here for more information. 

Heather Patel | MLS# 981360

136 Beluga Drive is a beautiful 2 Story home in Water Valley South. This 3-bedroom home boasts an open floor plan with vaulted ceilings, granite countertops, and stainless steel appliances in the kitchen perfect for entertaining so everyone in the party is included. The main floor office has double doors for privacy or turn this room into a relaxing reading space. On a cold winter day, cozy up next to the fireplace in the living room or in the loft with a movie of choice. In the summer, enjoy the backyard with the large stamped concrete patio and wood privacy fence or on the covered front porch. The 3-car tandem garage allows for plenty of room for the golf cart and toys along with your cars. The unfinished basement leaves additional space for the buyers to customize to their liking. Take advantage of being only one block from Eagle Lake and Park. Bring paddle boards, kayaks, and fishing rods to enjoy everything the lake has to offer without paying waterfront prices! Call (970) 401-0123 to schedule a private tour or click here for more information. 

Rondi duPont | MLS# 981422

Welcome to 900 Bruce Drive, an amazing opportunity to be located in the desirable Berthoud, CO! This cozy home offers 3 bedrooms, 2 bathrooms, and a spacious living space. This recently remodeled home offers a kitchen with granite countertops, stainless steel appliances, and plenty of natural light. Not a stitch of carpet…so clean-up is a snap! There is also a large back deck/patio, perfect for entertaining family and friends. Enjoy small town living with plenty of restaurants, bars, shops, and grocery store within a short distance. This is an incredible opportunity to own an affordable home in an amazing town. Take a look and make 900 Bruce Drive yours today! Call (970) 690-5707 to schedule a private tour or click here for more information.

Jared Foster | MLS# 981933

Welcome to 3625 29th Street #2 in Greeley, CO 80634! This wonderful home is located just minutes from all your favorite attractions. Condo features 3 bedrooms, 2 1/2 bathrooms, cozy gas fireplace, open floor plan, new luxury vinyl flooring on the main level, stainless steel appliances included, beautiful cabinetry, large master bedroom, A/C, ceiling fans and a spacious 2 car attached garage! CASH, Conventional Financing, or Owner Occupied Only due to occupancy ratios. Call (970) 590-4841 to schedule a private showing or click here for more information.

Suzanne Ekeler | MLS# 982134

Welcome home to this beautiful move-ready-ranch in the desirable Prairie Star Neighborhood. Located just across from Heron Lakes and TCP Golf Course in Berthoud, 561 Ranchhand Drive is perfectly situated between reservoirs and mountains with easy access to Loveland, Fort Collins, and Berthoud. You will fall in love with this 3-bedroom, 2-bathroom home with an upgraded kitchen has granite countertops, stainless steel appliances, an oversized island, and gorgeous cabinets. Hard surface flooring throughout. The bedrooms are bright and spacious. The primary bedroom has an en suite bathroom and ample room in the walk-in closet. Enjoy all of the community amenities with several parks, playgrounds, trails, community gardening, sports courts, dog park, gardens & (and pool/gym available for a fee). Enjoy Summertime community events such as Weekly Volleyball games, Movies @ the park, and a free book exchange program (Free little library). Call (970) 310-6999 to schedule a private tour or click here for more information.

Alexis Foster | MLS# 982162

Don’t miss out on the potential of 3450 S Clay Street. This property already has water, sewer, and electric on site. Meters need to be installed. This is a great opportunity for an Accessory Dwelling Unit situation. The alley access creates good parking for such. For more info, please call (970) 420-4498.

Lindsey Crisanti | MLS# 982242

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A Little Perspective…

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Those of us in the real estate industry agree that the years 2020 to 2022 were anomalies.  During that time there were unique factors which drove abnormally high real estate activity. The number of transactions that occurred in those three years were at levels never seen before.It has become customary to compare the market in 2023 to the years 2016 to 2019 when looking at the number of closed transactions.Here’s what is interesting, while the number of closings so far this year is much less than last year, it is very close to what we saw in the more normal market of 2016 to 2019.Last month, 295 properties closed in Larimer County and 296 closed in Weld.The average January during 2016 to 2019 was 334 in Larimer and 303 in Weld.So, this year is only 12% lower than the average in Larimer County and 2% lower in Weld.

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A Little Perspective…

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Those of us in the real estate industry agree that the years 2020 to 2022 were anomalies.  During that time there were unique factors which drove abnormally high real estate activity. The number of transactions that occurred in those three years were at levels never seen before.It has become customary to compare the market in 2023 to the years 2016 to 2019 when looking at the number of closed transactions.Here’s what is interesting, while the number of closings so far this year is much less than last year, it is very close to what we saw in the more normal market of 2016 to 2019.Last month, 295 properties closed in Larimer County and 296 closed in Weld.The average January during 2016 to 2019 was 334 in Larimer and 303 in Weld.So, this year is only 12% lower than the average in Larimer County and 2% lower in Weld.

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Rate Prediction

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Our Chief Economist, Matthew Gardner predicts that interest rates will hit 5.4% by the end of 2023.

His prediction is aligned with most expert real estate economists.

While rates will continue to bounce up and down as the year goes on, the general trend will be lower rates.

This prediction is mainly based on the Fed tempering their increases as inflation starts to ease in the second half of the year.

Because of this prediction, we see housing demand increasing as rates decrease throughout the year.

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Jobs Bounce

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As the job market goes, so goes the housing market.  This is a fact about any primary housing market.

If employment is growing, the housing market will keep growing.

One of the many positive indicators of the healthy Northern Colorado economy is the fact that the jobs lost during the pandemic have bounced back.

Not only has employment recovered, it now exceeds pre-pandemic levels.

Northern Colorado unemployment is now down to 4.1%.

These facts were reported by our Chief Economist Matthew Gardner during our annual Market Forecast event.

If you would like to see any of the slides from the presentation, please let us know.

The post Jobs Bounce appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Jobs Bounce

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As the job market goes, so goes the housing market.  This is a fact about any primary housing market.

If employment is growing, the housing market will keep growing.

One of the many positive indicators of the healthy Northern Colorado economy is the fact that the jobs lost during the pandemic have bounced back.

Not only has employment recovered, it now exceeds pre-pandemic levels.

Northern Colorado unemployment is now down to 4.1%.

These facts were reported by our Chief Economist Matthew Gardner during our annual Market Forecast event.

If you would like to see any of the slides from the presentation, please let us know.

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Equity Rich

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Homeowners in Northern Colorado have a bunch of equity in their homes.This fact was reported by our Chief Economist Matthew Gardner at our annual Real Estate Market Forecast event.The term ‘equity rich’ is defined as someone who has at least 50% equity in their home.For example, if someone owns a home worth $500,000 and their mortgage balance is less than $250,000, they are ‘equity rich.’A whopping 57% of Larimer County homeowners and 46% of Weld County homeowners are equity rich.To put that in perspective, in 2015 there were roughly 20% of Northern Colorado homeowners who had this much equity in their homes.This level of equity is one of many reasons Northern Colorado is protected from any sort of severe market downturn resulting from an excessive amount of distressed properties hitting the market.

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New Listings January 2023

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Welcome to Settlers Village! 794 S Pioneer Drive is an immaculate 3 bedroom, 2 bathroom ranch style home situated on a corner lot and is perfect for entertaining. The home boasts an open floor plan with vaulted ceilings in the living room and dining nook. LVP flooring has been installed on the main level and granite countertops are throughout the home. On a gorgeous summer afternoon and evening, picture relaxing under the beautifully built gazebo with electric and lighting in the backyard. The yard is also fully enclosed with a wood privacy fence. This home has so much to offer! Schedule your showing today! Call (970) 401-0123 to schedule a private tour or click here for more information!

Rondi duPont | MLS# 980004

Situated on a corner lot, 1422 88th Avenue has plenty of elbow room. Between the spacious kitchen/dining area, large covered front porch, and covered back deck there is more than enough space for entertaining. This property also features an open floor plan, vaulted ceilings, upgraded finishes, newer stainless appliances, tile backsplash, and wood flooring. Additionally, the 5-piece primary suite includes a newly tiled shower. This home also has an oversized 3-car tandem garage. Seller is a licensed broker. Call (970) 590-9860 to schedule a private tour or click here for more information.

Angie Clauser | MLS# 980269

Welcome home to 3026 54th Avenue! If you need extra space for toys, tools, and hobbies, look no further. Featuring an attached 3 car garage AND a detached heated and cooled shop, this is a rare find. 4 bedrooms plus an office or dining room.This home backs to open space with beautiful mature landscaping. Owned Solar Panels (installed in 2019) provide you with a minimal electric bill (no lease payment!) This home has been pre-inspected for your peace of mind and necessary repairs have been completed. Many updates have been done over the last few years including a new roof in 2019 (class IV shingles), newer kitchen appliances, refaced cabinets, new countertops, updated furnace/AC, two water heaters, and fresh interior paint/carpet cleaning last month. Easy access to shopping, restaurants, and Highway 34 make this the perfect place to call home. Call (970) 573-2620 to schedule a private tour or click here for more information.

Kelsey Vandemark | MLS# 980174

352 Zeppelin Way is a meticulously cared-for Paired Home in Mosaic! This 2 bedroom, 3 bathroom with a loft is perfect for someone looking for a move-in ready home in Fort Collins! The open floor plan lends itself beautifully to entertaining. Chefs will swoon over the kitchen which boasts a farmhouse sink, quartz countertops, upgraded cabinets, soft-close drawers, and pullouts in the lower cabinets. The main level has LVP flooring throughout and the second level has newly installed carpet. As you enter from the garage the built-in hooks, cubbies, and landing zone desk are extremely convenient to keep the home tidy. The home is located on a corner to give you a little more elbow room with a completely fenced backyard for privacy. The basement is unfinished to customize to your liking. This home is so bright, airy, and full of charm you won’t be disappointed! Don’t forget the neighborhood has 2 pools and a park to enjoy! Call (970) 401-0123 to schedule a private tour or click here for more information.

Rondi duPont | MLS# 980735

Welcome home to 2565 Trio Falls Drive, a beautiful townhome with amazing views of the mountains and Boyd Lake! The home features an open floor plan with a great flow. The kitchen highlights granite countertops, stainless steel appliances, gas stove, and a large island. Engineered hardwood flooring throughout, 3-car garage, large primary suite with views, and plenty of storage. Enjoy multiple outdoor entertainment areas and watch the gorgeous mountain sunsets. All kitchen appliances, clothes washer, and clothes dryer included. The desirable Lakes at Centerra neighborhood has a great clubhouse with a pool, community garden plots, and walking trails not to be missed. Close to shopping & restaurants! The house has been pre-inspected and is ready to make a great home! Call Caleb at 970-889-3796 to set up a private showing or click here for more information.

Caleb Cheshier | MLS# 981140

Welcome home! 564 Mariana Pointe Drive is a beautiful, Charter built, 3 bedroom, 3 bathroom patio home is located in the coveted Mariana Butte neighborhood. You will feel right at home with everything you need on the main level. The spacious Primary bedroom and luxury Primary bathroom with a large walk-in closet, laundry room and home office are all on the main level. Enjoy beautiful Colorado evenings on the expansive back deck. You will enjoy walking right up the street to golf at the Mariana Butte golf course or hike the Butte itself. In the beautifully finished basement you will find 2 additional bedrooms and a lovely updated bathroom, as well as a large family room with a fireplace, and a very sizeable storage room with ample space for all of your storage needs. Call (970) 703-4112 to schedule a private tour or click here for more information.

Karla Laferriere | MLS# 981108

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Luxury Stats

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The numbers are in.  2022 was another strong year for luxury sales of properties over $1,000,000.Along the whole Front Range in 2022, the number of luxury properties that sold was up 6.28% over 2021.The sold price per square foot was up 5.98% compared last year.Most interestingly, the number of luxury properties that closed this past year compared to 2019 was up by a whopping 133%.Sales of luxury properties is usually a good indicator of the overall health of the market.
The annual Market Forecast featuring Chief Economist Matthew Gardner is February 1st at 5:30pm.  To see the details and to RSVP, visit www.ColoradoForecast.com

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