Today’s inventory of residential properties along the Front Range is…
Double what it was in 2021 (the all-time low)
Half of the long-term average (going back to 1985)
One-fifth of what it was in 2006 (the all-time high)
The post Double, Half, Fifth appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.
Here is a look at how the market performed in August versus August 2022
Prices:
Larimer County Up 4%
Weld County Up 8%
Metro Denver Up 6%
Transactions:
Larimer County Down 18%
Weld County Down 31%
Metro Denver Down 15%
Inventory:
Larimer County Up 18%
Weld County No Change
Metro Denver Down 4%
The post Ups and Downs appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.
New Homes are where it’s at.
By ‘it,’ we mean inventory.
Given low supply of existing homes, home buyers have figured out that new homes offer an effective place to find homes for sale.
Here are the stats…
Inventory of existing homes is down 7.7% year over year. And, last year’s inventory was historically low.
Meanwhile, sales of new homes rose 4.4%. This increase was much more than most analysts expected.
New Homes are where it is at.
The post Where It’s At appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.
New Homes are where it’s at.
By ‘it,’ we mean inventory.
Given low supply of existing homes, home buyers have figured out that new homes offer an effective place to find homes for sale.
Here are the stats…
Inventory of existing homes is down 7.7% year over year. And, last year’s inventory was historically low.
Meanwhile, sales of new homes rose 4.4%. This increase was much more than most analysts expected.
New Homes are where it is at.
The post Where It’s At appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.
Here is an interesting look at the market year to date versus the same time period in 2022.
Bottom line, the number of transactions is down considerably, and prices are flat to slightly down.
Larimer County = Sales down 17.5%, prices up 0.7%
Weld County = Sales down 29.6%, prices down 2.2%
Metro Denver = Sales down 22.4%, prices down 2.9%
The post Year to Date appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.
Here is an interesting look at the market year to date versus the same time period in 2022.
Bottom line, the number of transactions is down considerably, and prices are flat to slightly down.
Larimer County = Sales down 17.5%, prices up 0.7%
Weld County = Sales down 29.6%, prices down 2.2%
Metro Denver = Sales down 22.4%, prices down 2.9%
The post Year to Date appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.
One of the many opportunities for buyers today is new construction.
In Northern Colorado, just under 25% of all available homes for sale are brand new homes.
That percentage is roughly 50% more than normal.
Buyers who are looking for a greater selection can consider new homes.
New homes offer obvious advantages like trendy finishes and new appliances.
They also often offer attractive incentives like lower mortgage rates.
So, in a time when it feels like there is less to choose from, new homes are a great option.
The post New Opportunity appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.
One of the many opportunities for buyers today is new construction.
In Northern Colorado, just under 25% of all available homes for sale are brand new homes.
That percentage is roughly 50% more than normal.
Buyers who are looking for a greater selection can consider new homes.
New homes offer obvious advantages like trendy finishes and new appliances.
They also often offer attractive incentives like lower mortgage rates.
So, in a time when it feels like there is less to choose from, new homes are a great option.
The post New Opportunity appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.
There is a new type of change to be prepared for.
One interesting way to track the market is to measure the year-over-year difference in inventory.
Quite simply, this looks at how many homes are available today versus the same time one year ago.
For the past several months in a row, the difference as measured by percentage change, has been significant.
That is because inventory levels between May of 2020 and May of 2022 were rock-bottom low.
For example, inventory in March of this year was up over 120% compared to March 2022.
When measured against historical numbers, inventory in the first half of this year is incredibly low. But, when measured against the first half of 2022, inventory is significantly higher.
Well, that is about to change because inventory increased in June and July of 2022.
So, now when we look at inventory levels versus a year ago, the percentage change will be more modest.
For example, Northern Colorado inventory today is up only 8% compared to one year ago.
The post A New Change appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.
As measured by months of supply, we have a strong Seller’s market in Northern Colorado.
Both Larimer County and Weld County measure at 1.6 months of supply.
That means, at the current pace of sales, it would take only about 6 weeks to sell all of the existing homes for sale.
The measurement becomes even more interesting when we look at specific price ranges.
Under $500,000 is 1.0 months in Larimer and 0.9 in Weld.
$500,000 to $700,000 is 1.6 months in Larimer and 2.0 in Weld.
$700,000 to $1,000,000 is 2.0 months in Larimer and 3.0 in Weld.
And, over $1,000,000 is 3.6 months in Larimer and 5.3 in Weld.
We are not surprised to see higher months of inventory in higher price ranges.
It is interesting that even $1,000,000 properties have less than 6 months.
The post Months of Supply appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.
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