Mid-Month Check-In

/in , , , , , /by

Here is a look at the Northern Colorado market halfway through June compared to the same time last year.

Inventory is climbing at a healthy rate in both Larimer and Weld County giving more options for buyers.

Larimer County inventory is up 18% and Weld’s is up 13%.

Meanwhile, sales are down slightly which is not surprising because interest rates have been slightly elevated until very recently.

These two factors have caused months of inventory to increase. But, this very important statistic is still measuring below 3 months in both Larimer and Weld Counties, demonstrating there is sufficient demand for the current supply.

The post Mid-Month Check-In appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

More Powerful

/in , , , , , , /by

As the saying goes, Superman is more powerful than a steaming locomotive (and able to leap tall buildings in a single bound)!

In real estate, supply and demand is more powerful than interest rates (and able to push price appreciation year after year)!

The fact that prices keep rising in Northern Colorado, even though interest rates are over 7%, is because of one factor- supply and demand.

Supply and demand is most easily measured by months of inventory which considers how long it would take to sell the current inventory at the current pace of sales.

Larimer County has just over two months of supply. Weld County has just under two months.

Fundamentally, while months of inventory stays below four months, prices are pretty much guaranteed to keep going up.

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

MOI is Still LOW

/in , , , , /by

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

The post MOI is Still LOW appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Jump to Three

/in , , , , /by

The most notable change in the market, in terms of a specific statistic, is months of inventory.

This statistic measures how long it would take to sell all of the current inventory at the current pace of sales.

Months of inventory has jumped to three along the Front Range.

One year ago, it was two months. Two years ago, it was three weeks.

The jump is a result of decreased demand driven by higher interest rates combined with slightly increasing inventory.

We expect months of inventory to continue to increase and imagine it could be at four months by this winter.

The post Jump to Three appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Jump to Three

/in , , , , /by

The most notable change in the market, in terms of a specific statistic, is months of inventory.

This statistic measures how long it would take to sell all of the current inventory at the current pace of sales.

Months of inventory has jumped to three along the Front Range.

One year ago, it was two months. Two years ago, it was three weeks.

The jump is a result of decreased demand driven by higher interest rates combined with slightly increasing inventory.

We expect months of inventory to continue to increase and imagine it could be at four months by this winter.

The post Jump to Three appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.