Most Active

What is the most active price range in Northern Colorado?  Take a guess…

  • $300,000 to $400,000
  • $400,000 to $500,000
  • $500,000 to $750,000
  • $750,000 and above

By far, the most active price range is $300,000 to $400,000 with 60% more closed transactions than the $400,000 to $500,000 range and 400% more than homes priced $750,000 and above.

However, this lower price range does not have the most inventory.  The price range with the greatest selection of homes is $500,000 to $750,000.

Posted on October 27, 2019 at 8:00 am
Kelly Swift | Category: Economics 101, Fort Collins Real Estate | Tagged , , , , , , ,

A Closing Window

Most people know that the Spring and Summer are the most active months for real estate and that activity trails off into the Fall and Winter.

Here are the specific numbers behind this…

The number of homes sold along the Front Range in November tends to be between 15% and 29% lower than September.

That means the best window of time for current sellers to obtain a contract from a buyer and close by the end of the year will occur over the next 45 days.

For sellers who have homes on the market today, it is time to ensure that:

  • The home is priced right versus the competition
  • All of the marketing elements are in place
  • It is easy for a buyer to make an offer on the home
Posted on August 23, 2019 at 10:23 pm
Kelly Swift | Category: Buying & Selling, Sellers | Tagged , , , , , , , , , , , , ,

Where Are The Sales?

A high-level look at the Northern Colorado region shows that the number of residential sales is down 5.4% in Larimer County and up 4.7% in Weld County. This is simply comparing the number of closings from June 2018 to June 2019 versus June 2017 to June 2018.

The high-level look doesn’t tell the whole story. It get’s more interesting when we look at individual Northern Colorado cities and towns:

• Fort Collins = -8.8%
• Loveland = -5.7%
• Greeley = +11.7%
• Windsor = +16%
• Wellington = -16.9%
• Timnath = +44.1%
• Severance = +20.4%
• Johnstown = -18.7%
• Berthoud = +18.1%
• Evans = -14.7%

So, what can we learn from this? The areas with increased sales are where there is an abundance of new construction (Timnath and Severance for example).

The areas with decreased sales don’t have an abundance of new construction (Fort Collins for example).

The exceptions to this would be Wellington and Johnstown. It appears that there is price sensitivity to the new construction product now being built in these areas. Given rising costs, builders are challenged to deliver a product under $350,000 in these places.

For instance, in Wellington, between June 2017 and June 2018 there were 137 sales of new homes priced under $350,000. Today there are only 6 new homes on the market at that price point.

Posted on June 14, 2019 at 9:17 pm
Kelly Swift | Category: Northern Colorado Real Estate | Tagged , , , , , , , , , , , ,

Down Again

The average 30-year rate is now 4.06% which is the lowest it has been all year.

Rates today are actually the lowest they have been since early 2018.

The main factor driving rates down is the trade war with China.

Investors are shifting money from stocks into bonds which causes the yield on the 10-year Treasury to drop.

Mortgage rates are closely aligned with the 10-year Treasury.

At the beginning of the year, most experts believed that 2019 would have a trend of increasing mortgage rates eventually reaching 5.5%.

Instead, the opposite has happened which is good news for real estate.

Posted on May 24, 2019 at 9:37 pm
Kelly Swift | Category: Economics 101, Mortgage | Tagged , , , , , , ,

Colorado Real Estate Market Update

 

The following analysis of the Metro Denver & Northern Colorado real estate market (which now includes Clear Creek, Gilpin, and Park counties) is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact your Windermere agent.

 

ECONOMIC OVERVIEW

Colorado’s economy continues to grow with the addition of 44,800 new non-agricultural jobs over the past 12 months. This represents a reasonable growth rate of 1.7%. As stated in last quarter’s Gardner Report, we continue to see a modest slowdown in employment gains, but that’s to be expected at this stage of the business cycle. I predict that employment growth in Colorado will pick back up as we move through the year, adding a total of 70,000 new jobs in 2019, which represents a growth rate of 2.6%.

In February, the state unemployment rate was 3.7%, up from 2.9% a year ago. The increase is essentially due to labor force growth, which rose by more than 84,000 people over the past year. On a seasonally adjusted basis, unemployment rates in all the markets contained in this report haven’t moved much in the past year, but Boulder saw a modest drop (2.7%), and the balance of the state either remained at the same level as a year ago or rose very modestly.

 

HOME SALES

  • In the first quarter of 2019, 11,164 homes sold — a drop of 3% compared to the first quarter of 2018 and down 13.5% from the fourth quarter of last year. Pending sales in the quarter were a mixed bag. Five counties saw an increase, but five showed signs of slowing.
  • The only market that had sales growth was Adams, which rose 4.9%. The rest of the counties contained in this report saw sales decline, with a significant drop in the small Park County area.
  • I believe the drop in the number of home sales is partially due to the significant increase in listings (+45.6%), which has given would-be home buyers more choice and less need to act quickly.
  • As mentioned above, inventory growth in the quarter was significant, but I continue to believe that the market will see sales rise. I expect the second half of the year to perform better than the first.

 

 

HOME PRICES

  • Home prices continue to trend higher, but the rate of growth is tapering. The average home price in the region rose just 2.1% year-over-year to $456,243. Home prices were .3% higher than in the fourth quarter of 2018.
  • I anticipate that the drop in interest rates early in the year will likely get more buyers off the fence and this will allow prices to rise.
  • Appreciation was again strongest in Park County, where prices rose 21.9%. We still attribute this rapid increase to it being a small market. Only Clear Creek County experienced a drop in average home price. Similar to Park County, this is due to it being a very small market, making it more prone to significant swings.
  • Affordability remains an issue in many Colorado markets but that may be offset by the drop in interest rates

 

 

DAYS ON MARKET

  • The average number of days it took to sell a home in Colorado rose five days compared to the first quarter of 2018.
  • The amount of time it took to sell a home dropped in two counties — Gilpin and Park — compared to the first quarter of 2018. The rest of the counties in this report saw days-on-market rise modestly with the exception of the small Clear Creek market, which rose by 26 days.
  • In the first quarter of 2019, it took an average of 42 days to sell a home in the region, an increase of four days compared to the final quarter of 2018.
  • Job growth drives housing demand, but buyers are faced with more choice and are far less frantic than they were over the past few years. That said, I anticipate the late spring will bring more activity and sales.

CONCLUSIONS

This speedometer reflects the state of the region’s real estate market using housing inventory, price gains, home sales, interest rates, and larger economic factors.

For the first quarter of 2019, I have moved the needle a little more in favor of buyers. I am watching listing activity closely to see if we get any major bumps above the traditional increase because that may further slow home price growth; however, the trend for 2019 will continue towards a more balanced market.

 

 

As Chief Economist for Windermere Real Estate, Matthew Gardner is responsible for analyzing and interpreting economic data and its impact on the real estate market on both a local and national level. Matthew has over 30 years of professional experience both in the U.S. and U.K.

In addition to his day-to-day responsibilities, Matthew sits on the Washington State Governors Council of Economic Advisors; chairs the Board of Trustees at the Washington Center for Real Estate Research at the University of Washington; and is an Advisory Board Member at the Runstad Center for Real Estate Studies at the University of Washington where he also lectures in real estate economics.

Posted on May 22, 2019 at 4:05 pm
Kelly Swift | Category: Economics 101, Fort Collins Real Estate | Tagged , , , , , ,

Charming 1940’s Ranch Bungalow in Fort Collins

This charming 1940’s ranch bungalow at  2806 Laporte Ave has quaint old town character and has loads of natural light, original hardwood floors throughout, built-in cabinets, large laundry room/mud room. Newer water heater, interior paint, roof and updated electrical. Convenient location with easy access to downtown, City Park, golf course, foothills and the CSU campus. Outside City limits, no HOA. First American Home Warranty included. Call for your private showing at (970) 310-4876 for more information or click the link below for more details.

http://kellyswifthomes.com/listing/95272866

Posted on May 13, 2019 at 4:34 pm
Kelly Swift | Category: Fort Collins Real Estate, Virtual Tour | Tagged , , , , , , , , , , , , , , , , , , ,

Inventory vs. Sales

Specifically what we look at are price ranges.

Neighborhood

We are curious to know if the inventory that is for sale lines up with what the buyers want.

Here’s what we notice…

In Larimer County, 23% of all the single family homes for sale are priced under $400,000. No surprise, this is a popular price range among buyers and it represents 45% of all sales.

So, the ratio is 23% of the inventory versus 45% of the sales.

In Weld County, the difference is more pronounced.

Homes under $400,000 represent 44% of the inventory and 69% of the sales.

Because the percentage of sales is higher than the percentage of inventory, properties under $400,000 will sell much quicker and are more likely to have multiple offers.


To see the latest on the market, be sure to check out a copy of the new Gardner Report, our Chief Economist’s quarterly look at Front Range real estate.

Posted on May 10, 2019 at 8:27 pm
Kelly Swift | Category: Buying & Selling, Sellers | Tagged , , , , , , , , , , , , ,

Fantastic Cottage Home in Fort Collins!

This fantastic cottage home located at 5162 Cinquefoil Ln  in the popular Observatory Village is just steps from the pool and neighborhood park. Open floor plan includes main floor office, vaulted ceilings, wood floors, finished basement, and a rec room. The master bedroom is spacious with a remodeled custom shower and walk in closet. Enjoy the private fenced patio w/trek decking and stamped concrete. Low maintenance-HOA maintains yard, trash, and snow removal. Close to schools, shopping, entertainment and the freeway. Call for your private showing at 970-310-4876 for more information or click the link below for more details.

http://kellyswifthomes.com/listing/86149162

http://kellyswifthomes.com/listing/86149162

Posted on September 25, 2018 at 9:58 pm
Kelly Swift | Category: Fort Collins Real Estate, Virtual Tour | Tagged , , , , , , , , , , , , , , , , , , ,

Updated Ranch Style Home in Loveland!

This move in ready home at 2821 W Redbud Dr is a must see! Updated in all the right areas! The large family room opens to a bright dining room and kitchen. Laminate hardwood floors throughout living areas. Additional formal living area and large heated sun-room. Beautiful professionally landscaped fully fenced backyard features a covered patio, pond, large shade trees, sprinkler system, storage shed and large RV parking area. Call for your private showing at 970-310-4876 for more information or click the link below for more details.

http://kellyswifthomes.com/listing/82041686

Posted on July 25, 2018 at 6:18 pm
Kelly Swift | Category: Real Estate Loveland, Virtual Tour | Tagged , , , , , , , , , , , , ,

Wonderful First Floor Condo in Fort Collins!

This condo at 3815 Steelhead St F16 in desirable southeast Fort Collins comes with an office, and offers a kitchen with a breakfast bar, granite and stainless appliances, gas fireplace, separate dining room and a private courtyard with 2 additional patios to enjoy the outside living space. Close to shopping, restaurants, new community park and easy access to the interstate. Community offers a pool and clubhouse! Call for your private showing at 970-310-4876 for more information or click the link below for more details.

http://kellyswifthomes.com/listing/81563544

Posted on July 16, 2018 at 10:32 pm
Kelly Swift | Category: Real Estate Fort Collins, Virtual Tour | Tagged , , , , , , , , , , , , , , , ,