The Last Decade

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Did you know home values in Larimer County have more than doubled in the last ten years?

Larimer County average prices are up 125% compared to 2014.  Weld County’s are up 134%

Here’s where it gets interesting…

Many people would guess that a significant portion of those gains occurred in the last five years.

However, in Larimer County the last five years of price growth was only slightly higher than the previous five years.

Weld County actually saw more price growth, on a percentage basis, from 2014 to 2019 as compared to 2019 to today.

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The Last Decade

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Did you know home values in Larimer County have more than doubled in the last ten years?

Larimer County average prices are up 125% compared to 2014.  Weld County’s are up 134%

Here’s where it gets interesting…

Many people would guess that a significant portion of those gains occurred in the last five years.

However, in Larimer County the last five years of price growth was only slightly higher than the previous five years.

Weld County actually saw more price growth, on a percentage basis, from 2014 to 2019 as compared to 2019 to today.

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

Active Average

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While we frequently research and discuss average prices for properties that sell, it is also interesting to look at the average prices for properties that are active on the market but not sold yet.

These are the average prices, by area, for properties currently listed for sale and not sold yet:

  • Metro Denver = $954,000
  • Larimer County = $878,000
  • Weld County = $880,000

If you are surprised that Weld County is higher than Larimer County, it’s important to note that there are several large acreage properties listed for sale in Weld County which are skewing the average.

These average active prices are all roughly 30% higher compared to a year ago and further emphasize the strong activity in the Front Range market.

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Steady Stream

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Despite the extraordinarily low amount of standing inventory, it is important to understand there is still a steady stream of new inventory hitting the market.

Inventory is low. That is a reality.

New inventory is coming on the market at essentially the same pace as compared to the last few years. That is also a reality.

Because demand is so high, the inventory doesn’t stay on the market very long.  Residential listings go from ‘Active’ to ‘Pending’ very quickly (assuming they are priced correctly).

Over the course of 2021, there were 66,308 new residential listings that hit the market in Metro Denver.  That is only 5% less than 2020.

Larimer County had 8,342 which is 7% less than 2020.

Weld County had 8,499 which is 5% less than 2020.

While standing inventory is near 50% lower than last year, the stream of new inventory is fairly consistent.

It is time to register for our annual Market Forecast with Chief Economist Matthew Gardner. This year the event will be hosted online on Thursday February 3rd from 11:00 to 12:00.

You can register at www.ColoradoForecast.com

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Standing Low

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The standing inventory of residential properties currently for sale is staggeringly low.

The number of active properties for sale is almost 90% below the average for this time of year.

In Metro Denver, there are 1,144 residential properties for sale today.

In Larimer County, there are 136 and in Weld County there are 174. 

Current inventory along the Front Range is essentially half of what it was one year ago.

The low standing inventory bolsters our belief that nothing resembling a decline in housing prices is on the horizon.  The low supply will continue to put upward pressure on prices.

It is time to register for our annual Market Forecast with Chief Economist Matthew Gardner.  This year the event will be hosted online on Thursday February 3rd from 11:00 to 12:00.

You can register at www.ColoradoForecast.com

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

Housing Inventory

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Many of our clients wonder if the current pace of price growth can continue.  Some even ask if prices will decline this year. 

Based on researching the Case-Shiller Home Price index and the National Association of Realtors home inventory data, there must be at least 6 months of inventory in a market for prices to have any chance of declining. We wrapped up 2021 with about 2 weeks of inventory across Larimer County, Weld County and Metro Denver. This marks a 43%-46% decrease in inventory as compared to December 2020.

The dwindling supply and the rising prices have led to a lot of questions about the future of the housing market. Is there a market crash on the horizon? Is there a housing bubble that’s about the burst? The answer is no. Although it is unlikely that the market can continue at this pace indefinitely, all signs point to a healthy housing market in 2022.

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Why List Now

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Why does it make sense to list a home now?  Shouldn’t I wait until the Spring?

These are legitimate questions we hear occasionally from our clients.

It turns out there are several good reasons to list a home in December or January instead of waiting for April or May.

The first reason is low competition.  Today there are only:

  • 279 homes for sale in Larimer County
  • 263 homes for sale in Weld County
  • 2,151 homes for sale in Metro Denver

So, a home on the market today has high odds of standing out in the market versus the higher-inventory market in the Spring.

In addition to lower competition:

  • Buyers looking in the winter tend to be more serious and motivated by tighter timelines
  • Interest rates will likely be higher in the Spring which will impact the purchasing power of Buyers, and consequently, the selling power of Sellers.

The post Why List Now appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Average Prices

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It’s true, average prices have increased substantially over the last year.

Would you have guessed that Weld County has seen the largest increase along the Front Range?

The specific numbers are below.

As you look at the numbers, it is important to remember that average prices have increased because of appreciation and because there are more higher-end homes that are selling.

The increased volume of high-end transactions has played a big rule in increasing the average price.

Average Price of a Single-Family Home based on closings so far this month:

  • Metro Denver = $675,000
  • Larimer County = $624,000
  • Weld County = $514,000

Average Prices exactly one year ago:

  • Metro Denver = $614,000
  • Larimer County = $549,000
  • Weld County = $417,000

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

Average Prices

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It’s true, average prices have increased substantially over the last year.

Would you have guessed that Weld County has seen the largest increase along the Front Range?

The specific numbers are below.

As you look at the numbers, it is important to remember that average prices have increased because of appreciation and because there are more higher-end homes that are selling.

The increased volume of high-end transactions has played a big rule in increasing the average price.

Average Price of a Single-Family Home based on closings so far this month:

  • Metro Denver = $675,000
  • Larimer County = $624,000
  • Weld County = $514,000

Average Prices exactly one year ago:

  • Metro Denver = $614,000
  • Larimer County = $549,000
  • Weld County = $417,000

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

No Inventory?

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One misconception about today’s market is that there is ‘no inventory.’

Actually, there are numerous new listings that hit the market each month. It just so happens that they tend to sell quickly.

The numbers show the number of new listings that came on the market in September closely equate to the number of sales that occurred.

  •  In Larimer County, 693 new residential listings hit the market last month and there were 688 sales.
  •  In Weld County, there were 681 new listings and 733 sales.
  •  In Metro Denver, there were 6125 new listings and 5233 sales.

So, while homes tend to sell quickly today, there is still a significant amount of new inventory hitting the market each month for buyers to consider.

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