Highly Active

In addition to tracking the average price for sold properties, it is also interesting to track the average price for active properties.

Asking prices are up across all markets when compared to the same time last year.

Here are the average list prices for residential properties along the Front Range:

  • Larimer County = $893,000 (8% higher than last year)
  • Weld County = $702,000 (6% higher than last year)
  • Metro Denver = $847,000 (5% higher than last year)

These asking prices are higher than average sales prices by approximately 30%. This is because there are many high-end properties on the market which take longer to sell and which pull up the average.

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A Rate-Induced Pop

The recent drop in mortgage rates triggered a measurable uptick in sales activity.

So far through the first 10 days of November, pending activity in Northern Colorado is up versus the same 10 days last year.

This is despite interest rates being higher than they were last year.

Mortgage rates just had their biggest one-week drop in over a year and buyers clearly responded.

Pending sales through November so far are up versus last year:

48% in Larimer County

20% in Weld County

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MOI is Still LOW

Despite decreased buyer activity driven by normal seasonal patterns plus higher interest rates, the key stat of Months of Inventory continues to stay relatively low.

Months of Inventory (MOI) is the simple measurement of how long it would take to sell the current inventory of homes for sale at the current pace of sales.

Along the Front Range, this stat ranges from roughly 2 ½ months to just over 3. A market is considered ‘balanced’ when there is 4 to 6 months of inventory for sale.

Here are the specific numbers for Front Range markets:

Larimer County = 3.1 Months

Weld County = 2.7 Months

Metro Denver = 2.4 Months

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New Listings October 2023

Welcome to your new home in Alford Meadows! Nestled on a peaceful cul-de-sac, 4955 Hornbeam Ct offers the perfect blend of comfort, style, and convenience. With its inviting features and desirable location, this property is a must-see for anyone seeking their next home. This home boasts a generous floor plan with ample space for family living and entertaining. The open-concept design creates a seamless flow between the living room, dining area, and kitchen, making it the perfect setting for gatherings. The well-appointed kitchen is a chef’s dream, equipped with stainless steel appliances, granite countertops, and an island with seating. Cooking and meal prep become a joy in this space. The master bedroom is a serene retreat with its en-suite bathroom and walk-in closet. In addition to the master suite, there are three more bedrooms, providing plenty of room for family members, guests, or home office space. Step outside to a lovely backyard with a patio, perfect for summer barbecues and al fresco dining. The fenced yard offers privacy and space for gardening or outdoor play. The attached garage not only provides convenient parking but also offers extra storage space for all your tools and equipment. Call 970-703-4112 to schedule a private tour.

Karla Laferriere | MLS# 997542

Nestled in the scenic landscape of Loveland, this meticulously cared for 2-bedroom, 3-bathroom Townhome lives spaciously among its three levels. Upon entry, be greeted by a bright open layout, leading into your recently updated kitchen. The kitchen showcases Blue Pearl granite countertops, stainless steel appliances, and two pantries. Retreat to the master suite, complete with not one but two closets and a large en-suite bathroom with a soaking tub and a separate shower. The upper level is finished off with an additional bedroom, full bathroom and loft space that would make a great home office, playroom, or library – whatever caters to your unique lifestyle. An attached and OVERSIZED 2-car garage ensures your cars are protected and storage or hobby needs are well met. Ceiling fans have thoughtfully been installed in each room to provide efficient cooling and comfort. The main level received a fresh coat of paint in December 2022, while the upper level was treated to a new paint job in September 2023, ensuring a pristine and welcoming environment. The exterior of the home was freshly painted in the summer of 2023, enhancing curb appeal, and protecting your investment. Don’t miss this opportunity to reside in a community that is both serene and vibrant. The nearby park, walking trails, and frequent community events ensure there’s always something to look forward to. 3230 Springfield Dr. is more than just a house; it’s a place to craft lasting memories. Call (970) 214-9479 to schedule your personalized tour today or click here for more information.

Heather Patel | MLS# 997533

Welcome home to 2793 Vallecito Street! This is what you have been waiting for in Wild Wing. Located near the water’s edge, this home offers a spacious and open floor plan with ample room for entertaining. The main floor features a beautiful kitchen with an abundance of natural light. The primary suite has oversized vaulted ceilings and an expansive bath that opens into the laundry room. Guests can enjoy their own private quarters with a spacious bedroom and full bath, separate from the primary bedroom. The basement has an additional bedroom and bath, a rec room, and an enormous storage room perfect for additional items or could be tastefully finished out for additional living space. From the privacy offered on the patio to the elegant main floor design, this home offers peace and tranquility year-round. To schedule a private tour, call (970) 581-5358 or click here for more information. 

Tiffany Burns | MLS# 997887

Downtown Fort Collins Living on the most desirable street in Old Town. Welcome to Historic Mountain Ave! Just a short walk away from City Park, Beaver’s Market, Little on Mountain, and Old Town Square you won’t find a better location than this! 1013 W Mountain Avenue is a well maintained single story home is ready for you to move in. New exterior and interior paint, carpet, roof and sewer line. Other features include hickory hardwood flooring in living room & kitchen, plenty of natural light and a primary bedroom with french doors leading to your private backyard and detached 2 car garage. There is extra space for storage with the unfinished basement and shed as well. Call (970) 215-1573 to schedule a private tour or click here for more information.

Brandon Bidwell | MLS# 997907

Welcome home to 4364 Prairie Trail Drive, your quiet oasis offering the perfect combination of charm, comfort, and sophistication with updates galore. Backing up to a tranquil open pasture and nestled between reservoirs, this rare 3 bed, 2.5 bath home is move-in ready with high ceilings, endless natural light, and stunning views. Lovingly maintained, you’ll enjoy the cozy feeling you get from the gas fireplace and all the thoughtful updates; kitchen counters with deep workstation sink, 5-panel solid doors, smart lighting features, smart thermostat, fresh paint inside and out, custom window treatments, updates to primary bathroom, powder room and creative touches throughout. In the fully fenced-in backyard, enjoy the patio, gazebo or garden while relaxing or grilling out. Tranquility awaits. Call (970) 430-9630 to schedule a private tour or click here for more information. 

Katie Robinson | MLS# 998051

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Welcome to your dream home in the prestigious Steeplechase neighborhood! 5341 Peak View Drive is situated on a sprawling 2.4-acre lot, this magnificent property boasts breathtaking unobstructed panoramic mountain views from every window! With 6 bedrooms, 5 bathrooms, and an office, this home offers ample space for your growing family. As you step inside, you’ll be greeted by hard surface flooring throughout the main level. The grand entryway and cathedral ceilings add an extra touch of elegance, making a statement from the moment you walk through the front door. The heart of this home is the chef’s kitchen, complete with 42 cherry cabinets, a huge granite island, and top-of-the-line stainless steel appliances, a 5-burner gas and double ovens. The finished basement is an entertainers dream, featuring a second fireplace and a home theater that will provide endless hours of fun and relaxation for you and your loved ones. And let’s not forget the 3-car garage, and for those in need of extra space, you’ll be thrilled with the 30X45′ outbuilding, complete with 12′ ceilings and 10′ garage doors. Whether you need a workshop, a place to store your recreational vehicles, or just more room to spread out. Step outside into your own private oasis where you can entertain guests or simply unwind after a long day on the back deck, complete with an enormous pergola and a hot tub that’s yours to relax in – a feature that truly sets this home apart. The manicured landscaping further adds to the beauty and curb appeal of this remarkable property. And here’s the best part – no metro district! Say goodbye to extra fees and enjoy the perks of living in this incredible community. Don’t miss your chance to own this exceptional home. Come and see for yourself the lifestyle and endless possibilities that await you! Call (970) 310-6999 to schedule a private tour or click here for more information.

Alexis Foster | MLS# 998362

Come see 312 A Street, a rustic farmhouse on almost an acre of land. It’s on the edge of Ault, CO! Only a 20-minute commute to Fort Collins! This property has a hay barn/stable, corral for horses, chicken coop, and plenty of room to build your new shop! This farmhouse has 3 bedrooms, and 2 bathrooms, with flooring that has been replaced recently throughout. This house is on city water and city sewer. Call (970) 775-8483 to schedule a private tour or click here for more information. 

Kyle Doerfler | MLS# 998733

5524 Chantry Drive is what you have been waiting for. From the second you arrive, you will notice the expansive corner lot, with stunning curb appeal and beautiful interior finishes. This home has everything you have been looking for. From the open concept kitchen and great room to the upgraded extended patio, this floor plan is sure to impress. The kitchen offers a massive island for entertaining, with double ovens, and tons of additional counter space. The basement bar offers additional room for entertainment and fun! This home offers three distinct sleeping areas for homeowners or guests. The main floor primary offers abundant space with a massive walk-in closet and full bath. There are two additional bedrooms on the main floor perfect for dual offices or guest quarters with another full bath. The basement offers two more bedrooms, both generous in size with a full bath. The abundant sunlight with beautiful mountain views from the patio displays the Colorado dream in all seasons. Call (970) 581-5358 to schedule a private tour or click here for more information.

Tiffany Burns | MLS# 998697

315 Alpert Avenue is a charming 2-bed, 2-bath home with classic appeal, recently renovated for modern comfort. This gem is located in a prime location just minutes from Old Town, offering the best of both worlds – old-world charm and contemporary living. The main floor features an open concept with great character. The fabulous kitchen showcases the brand-new SS appliances and butcher block countertops. The bonus room offers additional living space and great natural light. The spacious backyard with alley access is great for your four-legged friend and outdoor living. *Seller is willing to offer concessions to help with interest rate buydown.* You will not want to miss this Fort Collins charmer. Call (970) 889-3796 to schedule a private tour or click here for more information. 

Caleb Cheshier | MLS# 998664

Experience all the joy of owning a home without all the maintenance! Come see 2226 Copper Creek Drive Unit B, a beautifully remodeled duplex-style ranch townhome! This home greets you with an open floorplan, lots of natural light, 9′ ceilings, gas fireplace, and warm maple hardwood floors throughout! The kitchen has been completely remodeled with new cabinets, backsplash, and granite countertops! Don’t forget about the convivence of main floor laundry! Retreat to your spacious master bedroom with walk-in closet and recently remodeled bath with a large soaking tub! Enjoy relaxing on your private patio! The HOA covers exterior maintenance including roof, water, trash, lawn care, snow removal, insurance, and neighborhood pool! Radon has been mitigated. Call (970) 775-8483 to schedule a private tour or click here for more information. 

Kyle Doerfler | MLS# 998690

Amazing opportunity to purchase 4726 Westbury Drive, a 5 bed 4 bed ranch home conveniently located in Westbury under market value! Main floor primary suite, open concept kitchen/living area with gas fireplace leads to an ample eat in kitchen and formal dining room. Between the kitchen and garage entry, find a main floor laundry room with half bath and oversized pantry. Finished garden level basement with all brand new carpet includes a large living space with a second gas fireplace and lots of natural light. The living area opens to a dining area, kitchenette with full sized refrigerator, sink, countertop, built in cabinetry, and oversized storage/utility room with built in shelving. Around the corner you’ll find a full bath and two more bedrooms. This property does need some work, and is ideal for an investor or someone looking to make it their own. Call (970) 829-1914 to schedule a private tour or click here for more information.

Jared Sickels | MLS# 998829

Don’t miss the opportunity to settle in the desirable Timnath Ranch neighborhood at 7161 Silver Court! This stunning custom home sits on a quarter of an acre at the back of a cul-de-sac backing to open space. The two-story great room opens to a custom kitchen with dura-pro cabinets, soft close hardware, gas range, double ovens, and a large eat in kitchen. The oversized main floor master features a 5 piece master en-suite and extensive closet for all the storage you could want. A mudroom and separate laundry room are an organizers dream! With 3 bedrooms upstairs and one more in the basement there is room for everyone in this 5 bed 4 bathroom home. The community has walking trails, a pool, and a park. Bethke elementary in the PSD school district is located just 3 blocks away. Call (970) 402-7509 for a private tour or click here for more information.

Jacqueline Feil | MLS# 998867

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Holding Steady

Despite a significant increase in the supply of apartments, rental rates are holding steady.

New research from Realtor.com shows that lease rates in the largest U.S. cities are down just 0.7% even though completions of apartment buildings are up 15% since 2022.

Denver’s average apartment lease rate decreased only 1.0% year over year and now stands at $1957 per month.

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Holding Steady

Despite a significant increase in the supply of apartments, rental rates are holding steady.

New research from Realtor.com shows that lease rates in the largest U.S. cities are down just 0.7% even though completions of apartment buildings are up 15% since 2022.

Denver’s average apartment lease rate decreased only 1.0% year over year and now stands at $1957 per month.

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Net Worth Surge

Net worth surged for American families during the pandemic era, largely because of increased home values based on the Federal Reserve’s Survey of Consumer Finances.

Net worth is a measure of household assets after accounting for liabilities. After accounting for inflation, median net worth jumped to $192,900, a 37% increase from 2019-22, the Fed found.

That percentage growth was the largest since the Fed started its modern survey in 1989. It was also more than double the next-largest increase on record. Between 2004 and 2007 real median net worth rose 18%. 

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The Price is Right

This is an interesting and important time of year for current home sellers.

Thanksgiving is approximately 45 days away which is an important deadline for home buyers.

Many buyers who are considering a move this time of year would like to close on a home before Thanksgiving.

Current home sellers have a one to two week window to have their property under contract so a buyer can close by the Thanksgiving deadline.

Activity always slows in the winter and typically doesn’t show a noticeable increase until March.

So, proper pricing is paramount today so that sellers can take advantage of the seasonal window which is closing soon.

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

The Price is Right

This is an interesting and important time of year for current home sellers.

Thanksgiving is approximately 45 days away which is an important deadline for home buyers.

Many buyers who are considering a move this time of year would like to close on a home before Thanksgiving.

Current home sellers have a one to two week window to have their property under contract so a buyer can close by the Thanksgiving deadline.

Activity always slows in the winter and typically doesn’t show a noticeable increase until March.

So, proper pricing is paramount today so that sellers can take advantage of the seasonal window which is closing soon.

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Increasing Reductions

More and more sellers are having to reduce their listing price.

Nationally, 37% of all home sellers have recently had a listing price reduction. This is according to a recent report from Altos Research.

This is up from 30% in May and is now at the second-highest level since 2018. The highest it has been in the last five years is November 2022 when it stood at 41%.

A “normal” range is between 25% and 30%. Today’s number is a result of softening demand based on higher interest rates.

Proper pricing is always important for a seller and is especially so now as we enter a typically slower time of the year with added challenges related to interest rates.

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