Home Price Appreciation

Stat of the Month

by Rondi duPont

We just completed a review of the September numbers in our market.

Here is the one number that is standing out to us – average price.

Prices are way up over last year. Here are the specific average price increases in each of our markets compared to September 2019:

Metro Denver = 13.2%
Larimer County = 16.9%
Weld County = 7.4%

This change in prices has of course generated questions from our clients.

To help our clients answer questions about prices and other real estate topics, we have set up a private online event with our Chief Economist Matthew Gardner.

The event is set for Tuesday from 9:00 to 10:00.

Simply reach out to me to receive your registration link.

Matthew will be addressing these questions as well as many others:

What effect will the election have on the economy and on real estate?
How long can interest rates stay this low?
Can prices keep appreciating at their current pace?

This online event is for the clients and friends of Windermere. If you would like to register, please contact me.

The 12 Facts of Real Estate

by Rondi duPont

While your true love may be getting you a partridge in a pear tree in the near future, we decided to give you the 12 facts of Colorado real estate:

1 is the ranking Colorado owns for long-term home price appreciation versus all other states
2.6% unemployment rate in Colorado right now
3.73% mortgage rate for a 30-year mortgage which is about half of the long term average
4.7% apartment vacancy rate in Metro Denver, the lowest since 2015
5.5% is the long-term average for yearly home price appreciation along the Front Range
6,000,000 live in Colorado
7,000 residential properties are for sale in Metro Denver right now and the average for this time of year is 14,700
80,000 is the number of people that is added to our state’s population each year
9 homes are for sale in Larimer and Weld County priced over $2,500,000
-10% is the decrease in new home construction in Larimer County compared to last year while Weld County grew by 17%
11 times in the last 40 years home prices have gone up at least 8% along the Front Range
$1,202,488 is the average price for a single-family home in the City of Boulder

It’s time to register for our annual Market Forecast event. We will be live at 5:30 on January 16th at the Marriott in Fort Collins. Back by popular demand is our Chief Economist Matthew Gardner. Save your seat HERE.

Ranked!

by Rondi duPont

The latest report from the Federal Housing Finance Authority is hot off the press. They rank 241 major metropolitan areas across the U.S. for yearly home price appreciation.

They show that, nationally, home prices have gone up 4.99% over the last 12 months.

Here’s how the major cities rank in Colorado among the 241:

#22 Greeley = 7.94%

#27 Colorado Springs = 7.64%

#63 Fort Collins = 6.34%

#133 Denver = 4.83%

#188 Boulder = 3.41%

** Interesting fun fact: In the WORST economy of our lifetime (2008 recession), home appreciation in Fort Collins only went down 2.2%. Compare that to places like Las Vegas that went down by over 35%! Now that’s a stable economy.**