Facebook
Twitter
Pinterest
Copy Link
In Demand
For evidence that the Front Range is a desirable place to live and own real estate, look no further than the average price of our real estate.
According to the National Association of Realtors, the average price of a home in the United States is $486,000.
Compare that to the average price in our major markets:
- Larimer County = $662,000
- Weld County = $535,000
- Metro Denver = $670,000
This means prices along the Front Range are 10% to 38% higher than the National Average.
While interesting, this is not surprising given our employment growth, economic health, and quality of life in our markets versus the Nation as a whole.
New Rankings
The latest Home Price Index report has just been released by the Federal Housing Finance Authority.
They track home price appreciation for the largest metropolitan areas in the U.S. plus state by state appreciation.
Here is the ranking of the top three states for price growth over the last twelve months:
1. Florida = 29%
2. Arizona = 26%
3. North Carolina = 25%
The bottom three states are:
50. North Dakota = 10%
49. Louisiana = 11%
48. Minnesota = 11%
Colorado came in at #19 with 18% price growth over the last 12 months.
Stat of the Month
We just completed a review of the September numbers in our market.
Here is the one number that is standing out to us – average price.
Prices are way up over last year. Here are the specific average price increases in each of our markets compared to September 2019:
- Metro Denver = 13.2%
- Larimer County = 16.9%
- Weld County = 7.4%
This change in prices has of course generated questions from our clients.
To help our clients answer questions about prices and other real estate topics, we have set up a private online event with our Chief Economist Matthew Gardner.
The event is set for Tuesday from 9:00 to 10:00.
Simply reach out to me to receive your registration link.
Matthew will be addressing these questions as well as many others:
- What effect will the election have on the economy and on real estate?
- How long can interest rates stay this low?
- Can prices keep appreciating at their current pace?
This online event is for the clients and friends of Windermere. If you would like to register, please contact me.
