April real estate is off to a strong start in Northern Colorado.
Larimer County sales are up 20% compared to last April. Pending sales are 7% higher.
Weld County sales are up 16% and pendings are up 30%.
This is despite the fact that rates are slightly higher than one year ago.
It looks like a strong spring is in store for NoCo.
The post Strong Start appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.
Here are some interesting facts from Attom Data’s report on House Flipping.
The post Flipping Out appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.
Because mortgage rates have not decreased yet this year, many are wondering what that means for Northern Colorado home sales.
Transaction count is staying relatively steady compared to 2023.
Total sales year to date are down slightly (6%) versus last year.
At this point in 2023, there were a total of 1434 closings in Northern Colorado. This year there have been 1350 – 84 fewer.
The post Staying Steady appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.
Because mortgage rates have not decreased yet this year, many are wondering what that means for Northern Colorado home sales.
Transaction count is staying relatively steady compared to 2023.
Total sales year to date are down slightly (6%) versus last year.
At this point in 2023, there were a total of 1434 closings in Northern Colorado. This year there have been 1350 – 84 fewer.
The post Staying Steady appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.
Here’s a fun fact about the current inventory along the Front Range.
The number of properties for sale is five times as many versus the all-time low in 2022.
And, it is one-fifth as many compared to the all-time high in 2006.
Also, it is half of the long-term average.
So, selection is much higher than the frenzied 2021/2022 market.
However, inventory is still very low relatively speaking.
The post Five by Five appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.
Shakespeare famously wrote, “beware the Ides of March” in reference to March 15th.
However, when it comes to luxury real estate, there doesn’t seem to be any bad news on the horizon.
Instead, properties priced over $1 million are certainly on the upswing.
So far this year, there have been 26% more sales of luxury properties in Larimer County compared to early 2023.
And in Weld County, luxury property sales are up 36%.
Strength in the luxury market is certainly an indicator of the overall confidence in Northern Colorado real estate.
The post No Omens appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.
Shakespeare famously wrote, “beware the Ides of March” in reference to March 15th.
However, when it comes to luxury real estate, there doesn’t seem to be any bad news on the horizon.
Instead, properties priced over $1 million are certainly on the upswing.
So far this year, there have been 26% more sales of luxury properties in Larimer County compared to early 2023.
And in Weld County, luxury property sales are up 36%.
Strength in the luxury market is certainly an indicator of the overall confidence in Northern Colorado real estate.
The post No Omens appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.
As interest rates have gone up, buyers’ tolerance has gone down.
Generally speaking, the mindset of buyers now is dramatically different from two to three years ago.
Buyers used to be more open-minded and flexible and now that has changed.
Higher rates have caused them to be far less tolerant of:
Essentially, buyers are saying “If I am going to pay a higher interest rate, the property needs to be fairly priced and in very good condition.”
Sellers who are not aware of this dynamic, are the ones who have properties sitting on the market for excessive time.
The post Seller Beware appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.
As interest rates have gone up, buyers’ tolerance has gone down.
Generally speaking, the mindset of buyers now is dramatically different from two to three years ago.
Buyers used to be more open-minded and flexible and now that has changed.
Higher rates have caused them to be far less tolerant of:
Essentially, buyers are saying “If I am going to pay a higher interest rate, the property needs to be fairly priced and in very good condition.”
Sellers who are not aware of this dynamic, are the ones who have properties sitting on the market for excessive time.
The post Seller Beware appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.
The statistic that is leaping so far in 2024 is inventory.
Northern Colorado is seeing a big uptick in number of homes for sale.
However, it is not an alarming amount and is still a ‘Seller’s Market’ by definition.
Larimer County inventory is up 39% and Weld County is up 48%.
Months of inventory is up to 2.3 in Larimer County from 1.7 months a year ago.
Weld County is also at 2.3 months today and was only 1.2 months a year ago.
With higher inventory comes more selection for buyers and more importance for sellers to price right.
The post Leap Year appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.
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