Last Chance to Register

The 10th Annual Windermere Real Estate Market Forecast is coming up next week. Go ahead and register now to save your seat.

Back by popular demand as our Keynote Speaker is Economist Matthew Gardner. He will answer the big questions on your mind about interest rates and price appreciation. He will also talk about the impacts of the upcoming election on real estate. The presentation is sure to be interesting and entertaining like it always is.

We will be live on Tuesday, January 30th at the Marriott in Fort Collins from 5:30 pm to 7:00 pm. Register at www.ColoradoForecast.com.

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More Normal Range

The length of time that it takes for a property to sell is settling into a more normal range.

“Days on Market” is an insightful statistic that counts how long it takes for a property to go from live on the market to sold.

Today measurement stands at 72 days in Larimer County and 74 days in Weld County.

From January 2021 to November 2022, Days on Market never went above 60. This time period was defined by incredibly high demand and drastically low supply.

The time frame of January 2018 to December 2020, which was more ‘normal,’ had Days on Market between 60 and 90 days.

The post More Normal Range appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Out of the Gates

How is the year starting? All of us in the real estate industry are especially curious to see how 2024 is starting off after the first slow real estate year in a long time.

Rates have settled down and are trending down.

Prices have shown resilience and continue to go up.

But, how about transactions? Are they picking up after a year that saw an 18% decline in the number of closed residential properties?

It turns out the year is starting off strong but not unusually strong.

Pending transactions are up in Larimer County 7% year over year and up 3% in Weld County.

So, we are already seeing signs that 2024 will be a year of growth compared to last year.

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No Drop

The numbers are in and it turns out that not even 8% rates could make prices drop in 2023.

When mortgage rates jumped this last year, many people believed that home values would fall as a result.

The fact that prices stayed flat in 2023 even though interest rates doubled between March 2022 and October 2023, shows that values along the Front Range are incredibly resilient.

Here are the 2023 average prices along the Front Range and their change compared to 2022:

Larimer County:  $621,538 / 1%

Weld County:  $527,600 / 1%

Metro Denver:  $679,710 / 0%

The post No Drop appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

No Drop

The numbers are in and it turns out that not even 8% rates could make prices drop in 2023.

When mortgage rates jumped this last year, many people believed that home values would fall as a result.

The fact that prices stayed flat in 2023 even though interest rates doubled between March 2022 and October 2023, shows that values along the Front Range are incredibly resilient.

Here are the 2023 average prices along the Front Range and their change compared to 2022:

Larimer County:  $621,538 / 1%

Weld County:  $527,600 / 1%

Metro Denver:  $679,710 / 0%

The post No Drop appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

New Listings December 2023

Welcome to 3348 Green Lake Dr #2! This 2-story townhome is situated on the north east side of Fort Collins, conveniently located near I-25 and less than 15 minutes to Old Town, grocery shopping, and entertainment. Built in 2019, this home still feels new! Large south facing windows in the living room allow the Colorado sunshine to brighten your home all day. On the main floor you’ll find an open concept with a living room, dining area, and kitchen that features stainless steel appliances, grey granite counters, grey tile backsplash, and white cabinets. A powder bath and closet for storage finish out the space. Upstairs are the 3 bedrooms, 2 spare and one primary. One of the spare bedrooms features luxury vinyl plank flooring and the other two are carpeted. There is a 3/4 bathroom in the primary bedroom which features a large walk-in shower and dual vanity with lots of cabinet space for storage. A walk-in closet in the primary bedroom offers lots of space for storage and clothes. The community includes a playground and small bike track and isn’t far from the Poudre Trail or the Poudre Whitewater Park. The seller is offering $7,500 for a buyer to use for a rate buy-down or help with closing costs. Call (719) 310-9336 to schedule a private tour or click here for more information.

Anali Roath | MLS# 1000205

Welcome home for the holidays! Nestled in the heart of festive cheer, 7072 Sumner Street is an enchanting residence ready to make your Christmas dreams come true. Step into a winter wonderland where chestnuts roasting on an open fire evoke warmth & comfort in the cozy living room, complete with custom built-ins surrounding the gas fireplace. As you explore the home, you’ll discover a kitchen that’s decked with boughs of holly with it’s elegant alder cabinetry, gas range, granite countertops throughout & spacious corner pantry; perfect for creating holiday feasts & sweet memories. The dining area beckons with a promise of visions of sugarplums dancing as you enjoy meals with loved ones. The bedrooms are adorned with silver bells of sophistication & comfort, providing a serene retreat for a good night’s rest. A primary suite that whispers let it snow awaits, featuring a luxurious bath, walk-in closet & ample space to unwind after a day of holiday merriment. Baby it’s cold outside, but your guests can stay over & enjoy the magic of the season with a private ensuite bathroom; a sanctuary that ensures comfort & privacy. Santa’s welcome here too, with a HUGE 758 sq ft garage, long enough (29.8 ft) to accommodate his sleigh & the reindeer! Or, he could take advantage of the enclosed pet run on the south side of the spacious 0.26 acre lot! Up on the rooftop you’ll find high impact Cat 4 shingles & energy efficient solar panels allowing you to harness the power of the sun to illuminate your holiday festivities & enjoy the spirit of sustainable living throughout the year. This home is not just a dwelling; it’s a haven where joy to the world echoes through every room. Don’t miss the chance to make this holiday retreat your very own. Schedule a visit and experience the magic of Christmas every day in your new home! Call (970) 215-6768 to schedule a private tour or click here for more information.

Reba Tipton | MLS# 1000795

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Price Plummet

For anyone waiting for home prices to drop before making a buying decision, there is good news.

The recent plummet in mortgage rates means that home prices, effectively, just took a big dip.

Rates have gone down by 1% in the last 45 days which means that a prospective home buyer’s payment is 10% less today than what it would have been at the end of October.

For example, the Principal and Interest payment for a $500,000 loan is $341 less today than what it was 45 days ago.

So, from a buyer’s perspective, prices have gone down by 10% in a very short time.

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

Price Plummet

For anyone waiting for home prices to drop before making a buying decision, there is good news.

The recent plummet in mortgage rates means that home prices, effectively, just took a big dip.

Rates have gone down by 1% in the last 45 days which means that a prospective home buyer’s payment is 10% less today than what it would have been at the end of October.

For example, the Principal and Interest payment for a $500,000 loan is $341 less today than what it was 45 days ago.

So, from a buyer’s perspective, prices have gone down by 10% in a very short time.

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

Inventory in Perspective

A significant dynamic in the Front Range market is the relatively low inventory. This is the main reason why prices are stable despite higher rates.

Here is some perspective on the inventory of homes for sale to help give some context.

Today’s inventory is:

  • Half of the long-term average going back 30 years
  • ¼ of the all-time high in 2006
  • 3 times the all-time low of 2021

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Most Surprising News

The most surprising piece of news for our friends and clients is that prices are essentially flat compared to last year.  People find that surprising given what interest rates have done over the last 18 months.  They wonder, how could prices not fall significantly after interest rates jumped considerably? 

The answer is the fundamental economic lesson of supply and demand.

There is enough demand in the market for the current supply to keep prices stable even in an environment of higher rates.

Now that rates are (finally) trending down, it gives us even more confidence about the continued growth of real estate prices along the Front Range.

Here is a look at how home prices compare to one year ago:

Larimer County = Down 0.8%

Weld County = Up 3.4%

Metro Denver = Up 0.8%

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