Inventory Solstice

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There is a significant transition that is taking place in the Northern Colorado market.

There is now more inventory on the market at this time of year than at any time since 2020.

2020 marked a turning point in the market where both interest rates and inventory plummeted.

For many years, the market has been working to get back to pre-COVID levels of inventory. 

It finally happened.

However, inventory is still well below 2017, 2018, and 2019 levels.

This means there is nothing resembling a ‘glut’ of inventory.

But, this milestone is significant.

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Mid-Month Check-In

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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.

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Midway Check-In

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We are halfway through May. This is how the numbers stack up versus the exact time last year.

Larimer County:

  • Inventory up 26%
  • Closings down 4%
  • Average Prices up 13%

Weld County:

  • Inventory up 18%
  • Closings up 6%
  • Average Prices down 5%

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Strong Start

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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.

Strong Start

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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.

Staying Steady

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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.

Staying Steady

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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.

Five by Five

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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.

No Omens

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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.

No Omens

/in , , , , /by

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.