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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 […]
Blog How Would Have Guessed? Pretend it is 2013. The real estate market is clearly recovering from the Great Recession. The Broncos are having a great year and will eventually make it to the Super Bowl. Now, imagine someone makes a prediction that 10 years in the future mortgage interest rates would double over the course of 12 months. If […]
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Blog High Active The average price of all active listings is likely much higher than you think. For example, the average listing price of the nearly 5000 properties for sale in Metro Denver is nearly $1,000,000. Here is the average price of all active listings along the Front Range: Larimer County: $886,000 Weld County: $736,000 Metro Denver: $939,000
Blog A New Change There is a new type of change to be prepared for. One interesting way to track the market is to measure the year-over-year difference in inventory. Quite simply, this looks at how many homes are available today versus the same time one year ago. For the past several months in a row, the difference as […]
Blog Not What Many Thought Despite higher interest rates, prices did not decrease like many people thought. They certainly have not crashed like many thought. Average prices along the Front Range have seen only a slight decrease versus last year. The average price in May this year has decreased versus May of last year by:   2.5% in Larimer County […]
Blog Months of Supply As measured by months of supply, we have a strong Seller’s market in Northern Colorado. Both Larimer County and Weld County measure at 1.6 months of supply. That means, at the current pace of sales, it would take only about 6 weeks to sell all of the existing homes for sale. The measurement becomes even […]
Blog More New Nationally, new home inventory as a percentage of the total inventory just hit a record high. 26% of all properties currently available for sale are brand new homes. To put this in perspective, in 2018 it was 14%. From 2000 to 2008 it bounced between 10% and 15% Locally, we notice even higher numbers. In […]
Blog TAX ASSESSMENT TIME This week’s fun fact is that you just received your new valuation from your County Assessor and you have until June 8th to protest the value. By statute, properties in Colorado are re-assessed every two years and owners are given their new Assessed Valuation in early May. This year, many Colorado property owners are surprised […]
Blog In Demand For evidence that the Front Range is a desirable place to live and own real estate, look no further than the average price of our real estate. According to the National Association of Realtors, the average price of a home in the United States is $486,000. Compare that to the average price in our major […]
Blog Dropping Inventory Breaking News – months of inventory has dropped significantly signifying an uptick in real estate activity along the Front Range.‘Months of inventory’ is an important statistic and something we commonly talk about in this blog. It simply measures how long it would take to sell all of the homes currently for sale at the current pace […]
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 March Madness When things get crazy on Wall Street, it’s often good for real estate. Uncertainty in the stock market attracts investors to the stability offered by Treasury Bonds. Higher demand for bonds means lower interest rates which is obviously good for real estate buyers. “Turbulence in the financial markets is putting significant downward pressure on rates” […]
Blog Equity Cushion You may remember the term “Home ATM” from the mid 2000’s. This term stemmed from the abundance of homeowners who pulled significant amounts of equity from their homes in the form of Home Equity Loans and Lines of Credit. Home values dropping in 2008, 2009 and 2010 caused many homeowners to be ‘underwater’ meaning that, […]
Blog Rate Predication Our Chief Economist, Matthew Gardner predicts that interest rates will hit 5.4% by the end of 2023. His prediction is aligned with most expert real estate economists. While rates will continue to bounce up and down as the year goes on, the general trend will be lower rates. This prediction is mainly based on the […]
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