Blog 15-Year Mortgages Interest rates have leveled off at around 7% over the last couple of months. Interestingly, the 15-year mortgage is a more reasonable 6.375% right now. If you are looking for a lower rate and are willing to pay a higher monthly payment, this may be a good option. The other benefit of a 15-year mortgage […]
Blog Fourth of July Slowdown Showings during the week of the 4th is one of the slowest periods of the year. This data comes from home builders that track the number of potential Buyers that visit the model homes. This same trend is shown in showing data for resale homes. This trend usually only lasts for the week, though, and […]
Blog Ninety Eight Percent Properties in Northern Colorado sell for 98% of their list price on average. This single statistic communicates two interesting facts about the market. First, this is not a market full of desperate sellers who are willing to accept low ball offers. Second, properties that are priced right are the ones that are selling. So, if […]
Blog Mid-Month Check In Here is a look at the Northern Colorado market halfway through June compared to the same time last year. Inventory is climbing at a healthy rate in both Larimer and Weld County giving more options for buyers. Larimer County inventory is up 18% and Weld’s is up 13%. Meanwhile, sales are down slightly which is […]
Blog Not Deliquent As a sign of the overall health of the U.S. real estate market, single-family mortgages that are ‘seriously delinquent’ only represent 0.51% of all single-family mortgages. This percentage is lower than last month and lower than last year. A mortgage is considered ‘seriously delinquent’ if it is more than 90 days past due. To put […]
Blog Been a Long Time Highlighting that inventory has been very low for a very long time is the fact that the number of homes available in Northern Colorado today most closely resembles 2015. It has been almost 10 years since buyers have had the selection that they have now. Even though inventory is up over last year, and way […]
Blog Midway Check We are halfway through May. This is how the numbers stack up versus the exact time last year. Larimer County: Inventory up 26% Closings down 4% Average Prices up 13% Weld County: Inventory up 18% Closings up 6% Average Prices down 5%
Blog Staying Steady Because mortgage rates have not decreased yet this year, many are wondering what that means for Northern Colorado home sales. Transaction count is staying relatively steady compared to 2023. Total sales year to date are down slightly (6%) versus last year. At this point in 2023, there were a total of 1434 closings in Northern […]
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Blog Five by Five Here’s a fun fact about the current inventory along the Front Range. The number of properties for sale is five times as many versus the all-time low in 2022. And, it is one-fifth as many compared to the all-time high in 2006. Also, it is half of the long-term average. So, selection is much higher […]
Blog No Omens Shakespeare famously wrote, “beware the Ides of March” in reference to March 15th. However, when it comes to luxury real estate, there doesn’t seem to be any bad news on the horizon. Instead, properties priced over $1 million are certainly on the upswing. So far this year, there have been 26% more sales of luxury […]
Blog Leap Year The statistic that is leaping so far in 2024 is inventory. Northern Colorado is seeing a big uptick in number of homes for sale. However, it is not an alarming amount and is still a ‘Seller’s Market’ by definition. Larimer County inventory is up 39% and Weld County is up 48%. Months of inventory is […]
Blog Normal Timing After three years of abnormally low Days on Market, properties today are settling into a more normal and more reasonable length of time on the market. Days on Market today stands at: 53 Days in Larimer County 66 Days in Weld County Back in 2021, for example, Days on Market was roughly half of today’s […]
Blog Inventory Jump The most significant trend we notice 45 days into the new year is the jump in inventory. There are many more properties for sale along the Front Range compared to one year ago. Larimer County is up 40% Weld County is up 39% Metro Denver is up 35% This comes as welcome news for buyers […]
Blog Forecast Takeaways Here are some of the big takeaways from our annual Market Forecast with Economist Matthew Gardner: Interest rates will continue to trend down during the year and reach 6.08% by the end of 2024. Home prices will have another year of modest gains increasing 2.0% to 2.5% in Northern Colorado 53% of homeowners in Larimer […]
Blog More Normal Range The length of time that it takes for a property to sell is settling into a more normal range. “Days on Market” is an insightful statistic that counts how long it takes for a property to go from live on the market to sold. Today measurement stands at 72 days in Larimer County and 74 […]
Blog Out of the Gates How is the year starting? All of us in the real estate industry are especially curious to see how 2024 is starting off after the first slow real estate year in a long time. Rates have settled down and are trending down. Prices have shown resilience and continue to go up. But, how about transactions? […]
Blog Price Plummet For anyone waiting for home prices to drop before making a buying decision, there is good news. The recent plummet in mortgage rates means that home prices, effectively, just took a big dip. Rates have gone down by 1% in the last 45 days which means that a prospective home buyer’s payment is 10% less […]
Blog Inventory in Perspective A significant dynamic in the Front Range market is the relatively low inventory. This is the main reason why prices are stable despite higher rates. Here is some perspective on the inventory of homes for sale to help give some context. Today’s inventory is: Half of the long-term average going back 30 years ¼ of […]
Blog Most Surprising News The most surprising piece of news for our friends and clients is that prices are essentially flat compared to last year.  People find that surprising given what interest rates have done over the last 18 months.  They wonder, how could prices not fall significantly after interest rates jumped considerably? The answer is the fundamental economic […]
Blog A Rate-Induced Pop The recent drop in mortgage rates triggered a measurable uptick in sales activity. So far through the first 10 days of November, pending activity in Northern Colorado is up versus the same 10 days last year. This is despite interest rates being higher than they were last year. Mortgage rates just had their biggest one-week […]