Statistic

Rate Perspective

by Rondi duPont

Given the recent increase in mortgage interest rates, we think a little perspective is in order.

The average 30-year rate for the last 40+ years is 7.5%
Rates are now back within the range where they were between April 2018 and February 2019
Between January 2000 and December 2009, the high was 8.15% and the low was 5.05%
Between January 1990 and December 1999, rates never went below 6.25%

Bottom line, while the increase in rates is challenging for active buyers, rates are still incredibly low historically speaking.

Over List

by Rondi duPont

A statistic we keep our eye on is the percentage of homes which sell for at least list price.

In a robust, healthy, market with lower inventory, we will frequently see homes selling for their asking price or even higher.

Here are the number of sales that occur for list price or higher in each of our major markets:

• Fort Collins = 60%
• Loveland = 60%
• Greeley = 71%
• Windsor = 56%

There are a couple of things we notice about these numbers. First, well over half of all sales are for at least list price. This means that a buyer needs to be prepared to make a full price offer (or higher) in most cases. This also means that if a seller is priced right and marketed effectively, they should achieve their asking price.

We also notice that these percentages are lower than one year ago. In 2018 these numbers were 5% to 10% higher in each market. This is good news for buyers of course because the bidding wars are not as intense as last year.