Homeowners in Northern Colorado have a bunch of equity in their homes.This fact was reported by our Chief Economist Matthew Gardner at our annual Real Estate Market Forecast event. The term ‘equity rich’ is defined as someone who has at least 50% equity in their home. For example, if someone owns a home worth $500,000 and their mortgage balance is less than $250,000, they are ‘equity rich.’ A whopping 57% of Larimer County homeowners and 46% of Weld County homeowners are equity rich. To put that in perspective, in 2015 there were roughly 20% of Northern Colorado homeowners who had this much equity in their homes. This level of equity is one of many reasons Northern Colorado is protected from any sort of severe market downturn resulting from an excessive amount of distressed properties hitting the market.
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by Rondi duPont
Blog No Middle Class “The middle class is going away” is an often-used adage when talking about society. It is also a good way to describe today’s real estate market. When it comes to properties for sale, the middle class has gone away.There is a class of listings which are priced to the market, in great condition, with world-class marketing.Then, […]
Blog Luxury Stats The numbers are in. 2022 was another strong year for luxury sales of properties over $1,000,000.Along the whole Front Range in 2022, the number of luxury properties that sold was up 6.28% over 2021.The sold price per square foot was up 5.98% compared last year.Most interestingly, the number of luxury properties that closed this past […]
Uncategorized Versus 2019 Because 2021 and 2020 were such unique years in real estate because of the considerably low interest rates, many people in our industry believe it makes sense to compare 2022 to 2019 when looking at the key statistics. Here’s how 2022 looked along the Front Range compared to 2019: Prices Number of Transactions […]