Higher Better

The higher-end market in Northern Colorado, in terms of number of closings, is faring better than the overall market.

When we look at the number of homes selling today and the price point of those homes, properties priced above $1,000,000 are performing better than the market as a whole.

The number of closings occurring now compared to this same time last year is down 30% overall.  But, the high-end market is only down 19%.

When we look further back in time, the data gets even more interesting.

Compared to 2021, Closings today are down 55% overall, but high-end sales are up 26%.

And compared to 2020, there are 59% fewer closings and 160% more high-end sales.

We believe there are two reasons for this dynamic.

First, because of price increases over the last few years, the stock of inventory today includes more $1,000,000- plus homes than the past.

Second, the high-end buyer is less affected by higher interest rates than the general population.  And, certainly less affected than first-time buyers.

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

Not What Many Thought

Despite higher interest rates, prices did not decrease like many people thought. They certainly have not crashed like many thought.

Average prices along the Front Range have seen only a slight decrease versus last year.

The average price in May this year has decreased versus May of last year by:


2.5% in Larimer County

3.2% in Weld County

2.8% in Metro Denver


When we take a closer look, what is apparent is that average prices have decreased based on the type of properties that are selling versus last year.

Specifically, there were more $1,000,000 – plus homes selling a year ago versus today. Those higher-end transactions in 2022 increased the average price.

In May of 2023, $1,000,000- plus transactions decreased versus May of 2022 by:


33% in Larimer County

29% in Weld County

35% in Metro Denver


So, we don’t see that prices have gone down. We see that average price has slightly decreased because they aren’t as many luxury sales pulling up the average.

The post Not What Many Thought appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Luxury Stats

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

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