6375 Tongass Ave Loveland, CO 80538
4 Bed / 3 Bath | $480,000
We’ve seen some headlines recently that suggest home prices along the Front Range have peaked and are starting to decline.
When we dig in and do the research, this is what we find…
Home prices are still going up, just not as fast as they have been.
We’ve known that the double-digit appreciation that we’ve seen for the last several years could not be sustained and we expected the pace of appreciation to slow down.
So far in 2019, this is the case. Prices still going up, just not as fast.
It’s like running up stairs. Eventually you will get tired and you will need to start walking (but you’re still going up).
Headlines that suggest that prices have peaked and are falling create unrealistic expectations for buyers and give sellers a skewed perspective on the market.
Here are the numbers…
- Up 1.53% in Metro Denver
- Up 6.1% in Larimer County
- Up 5.1% in Weld County
Months of Inventory:
- 5 Months in Metro Denver
- 5 Months in Larimer County
- 4 Months in Weld County
- (Remember that 4-6 months of inventory represents a balanced market)
There has been an increase in Days on Market which means that homes are taking longer to sell. But the increase is measured in days, not months.
Here are those numbers…
Days on Market:
- Up 4 Days in Metro Denver
- Up 11 Days in Larimer County
- Up 3 Days in Weld County
So, be mindful of headlines that can be sensationalized and might suggest that the market is falling.
Bottom line, the market is going up, just not as fast as it was.
It’s called “At Least List”
It measures how active the market is by tracking the number of single family homes that sell for at leastlist price.
Because of the demand in our market, many homes sell for list price or higher.
So here’s the latest based on closings so far in the month of July…
The percentage of single family homes selling for at least list price:
- Fort Collins = 58%
- Loveland = 67%
- Windsor = 55%
- Greeley = 75%
Based on these numbers, homes that are priced right, and positioned right in the market will attain the price the seller wants (or higher).
To see the whole story about our market along with other stats and trends, watch the recording of Tuesday’s Windermere Workshop right here.
If a real estate buyer walks into one of our offices in Northern Colorado and tells us they are looking for a single-family home under $300,000, unfortunately there will not be many properties to choose from. Depending on where they are looking the choices may be very limited.
Here is a list of the number of single-family homes currently for sale (excluding manufactured homes) in Northern Colorado:
- Fort Collins = 0
- Loveland = 7
- Windsor = 0
- Wellington = 0
- Timnath = 0
- Greeley = 27
- Evans = 8
- Milliken = 2
If our active market has you thinking about investing in real estate in Northern Colorado. Check this out…
Grab a copy of our Investment Kit so you can see the simple steps to get started without stress or complication. Email us at email@example.com and we will send you a video which clarifies the process and our Investment Checklist so you can see what to do first.