No two alike

by Rondi duPont

Anyone who has more than one child is frequently amazed by the difference between the children. How is it that two kids from the same parents are so different from each other?

Same goes in our Northern Colorado market. We see a major difference between certain price ranges and certain locations right here in our little neck of the woods.

Clients are constantly reading about and hearing about the “hot” market. They make assumptions that every price range and every location in Larimer and Weld Counties are on fire. Not true!

Just like two kids from the same parents are different, two price ranges in the same place are very different.

To make this point, let’s look at months of inventory. This statistic simply measures how long it would take to sell the current inventory of homes at the current pace of sales.

Across all price ranges, months of inventory in Larimer County = 2.0. Meaning it would take two months to sell all the homes currently for sale. But this is misleading, because months of inventory…

Under $500,000 is 1.2
Between $500,000 and $1,000,000 is 4.2
Over $1,000,000 is 11.7

So, the $1,000,000 seller who hears that the market is “hot” is actually faced with a year’s inventory currently on the market!

This is a very high-level look at the differences in our market. I am happy to give you a detailed look at your exact neighborhood in your exact price range. Let us know if we can help!

Blog • Fort Collins Real Estate • Fort Collins Realtor • Fun Facts • July 7, 2017

The Wellington Explosion

by Rondi duPont

What if we told you there is a real estate market that has seen a 300% increase in sales volume in only 5 years?

What if we told you that market was right in our back yard?

The market is Wellington and what is happening there is extraordinary.

Because price increases in Fort Collins have eliminated virtually all options for the sub $300,000 buyer, Wellington has become a very popular place to buy a home.

In June of 2012, the average price there was $185,000. Today it is $300,500!

In 2012 there were 222 residential sales in Wellington. This year is on pace to ecliplse 500.

Yes, Wellington has exploded and we don’t see it slowing down any time soon!

Fun facts about Wellington:

The Town of Wellington was an oil, coal and agricultural hub throughout the 1800s and became a stopping location for wagon trains, travelers, and military movement between Cheyenne, Wyoming and Fort Collins, Colorado. The town was founded in 1902, incorporated in 1905 and named after C.L. Wellington, an employee of the Colorado and Southern Railroad.

Around the same time the population began to grow in Wellington, woolly mammoth remains were discovered by a construction crew while digging foundations for new homes. The remains were carefully excavated by a University of Colorado team while residents watched with excitement. Unfortunately, after being taken back to the University for further examination, the tusks were dropped and shattered on a floor. In recognition and remembrance of this event, the subdivision where they were found named a street Mammoth Circle.

Wellington maintained a population around 500 throughout the 20th century and grew to about 1,000 until the early 2000s. Today, Wellington is home to a population of nearly 8,300 residents.

Fun Facts & Image Source: www.townofwellington.com