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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 […]
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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 […]
Blog Net Worth Surge Net worth surged for American families during the pandemic era, largely because of increased home values based on the Federal Reserve’s Survey of Consumer Finances. Net worth is a measure of household assets after accounting for liabilities. After accounting for inflation, median net worth jumped to $192,900, a 37% increase from 2019-22, the Fed found. […]
Blog Increasing Reductions More and more sellers are having to reduce their listing price. Nationally, 37% of all home sellers have recently had a listing price reduction. This is according to a recent report from Altos Research. This is up from 30% in May and is now at the second-highest level since 2018. The highest it has been […]
Blog $44 Trillion Have you ever wondered how much all of the residential real estate in the U.S. is worth? It’s $44.5 trillion. That’s 44 with 12 zeroes after it. This data comes from the Federal Reserve’s Quarterly “Z.1” report. The total valuation increased by $2.4 Trillion over the last quarter and is essentially flat compared to one […]
Blog Where It’s At New Homes are where it’s at. By ‘it,’ we mean inventory. Given low supply of existing homes, home buyers have figured out that new homes offer an effective place to find homes for sale. Here are the stats… Inventory of existing homes is down 7.7% year over year. And, last year’s inventory was historically low. […]
Blog PROTESTING! The number of protests filed with Colorado’s 64 county assessors increased 300% in 2023 compared to the average number of protests from the previous three assessment cycles. Property owners filed at least 308,298 protests with Colorado’s 64 county assessors this year, which compares to an average of 103,000 annual protests in the last three assessment […]
Blog Showings to Sell How many showings will a property have before it sells? In Northern Colorado, the answer is eight. This is according to our local MLS system called IRES which tracks the median number of showings a property has before going under contract. This information is valuable to sellers so they can have realistic expectations while starting […]
Blog Higher Better The higher-end market in Northern Colorado, in terms of number of closings, is faring better than the overall market. When we look at the number of homes selling today and the price point of those homes, properties priced above $1,000,000 are performing better than the market as a whole. The number of closings occurring now […]
Blog Year to Date Here is an interesting look at the market year to date versus the same time period in 2022. Bottom line, the number of transactions is down considerably, and prices are flat to slightly down. Larimer County = Sales down 17.5%, prices up 0.7% Weld County = Sales down 29.6%, prices down 2.2% Metro Denver = […]
Blog New Opportunity One of the many opportunities for buyers today is new construction. In Northern Colorado, just under 25% of all available homes for sale are brand new homes. That percentage is roughly 50% more than normal. Buyers who are looking for a greater selection can consider new homes. New homes offer obvious advantages like trendy finishes […]
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