Friday Fun Facts – A Tale of Two Counties

 

 

Two Tales

This is a tale of two Counties.

When it comes to new home activity, there is a big difference between Larimer and Weld Counties.

Larimer County new home starts are down 10% and new home closings are down 15% compared to last year.

Weld County new home starts are up 18% and new home closings are up 8% compared to last year.

This is all according to the new home research experts and Metrostudy.

So why the difference?  It comes down to price and availability.

There is more land available for new home development in Weld County.

Plus, the land tends to be less-expensive than Larimer which means that builders can deliver a lower-priced product and reach a larger pool of buyers.

The average price of a new home in Larimer County is $507,105 while the average new home price in Weld is $411,269.

If you want to see even more insights about the Colorado market so that you can make really good decisions about your real estate, you are welcome to watch this complimentary webinar, just click HERE.


Welcome to Friday Fun Facts

Thanks for checking out this week’s Friday Fun Facts!

These little nuggets of information are designed to inform, education and entertain you. I promise to give you some solid takeaways, based on real life with information that will keep you up-to-date.

You can expect an entertaining short video or article once a week.. If you really like it, share it with your friends!

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Posted on November 15, 2019 at 2:09 pm
John Taylor | Category: For BuyersFor Sellersfun factsHousing TrendsNorthern Colorado Real Estate | Tagged 
Posted on November 15, 2019 at 2:30 pm
Stephanie Woodard | Category: For Buyers, For Sellers, Housing Trends, Northern Colorado Real Estate | Tagged , , ,

Friday Fun Facts – All Time High

Home Builder’s confidence in Baby Boomer buyers is at an all time high!

The National Association of Home Builders (NAHB) surveys their members each quarter to discover what they expect of future sales.

The builders base a large part of their answer on how many people are visiting their sales centers and model homes versus the same time last year.

The results in their most recent survey show that builders have never been more confident about buyers who are 55 and older.

The confidence index for this age group is actually double of what it was in 2012.  The NAHB sites low interest rates and strong job growth as the reasons for the high confidence.


 

Posted on November 8, 2019 at 6:57 pm
Stephanie Woodard | Category: For Buyers, Housing Trends | Tagged , , , , ,

Friday Fun Facts – The Holidays are the Best Time to Purchase!

Time for New

Here is a fact…

If you have ever thought about owning a new home, the last two months of the year are usually the best time to make that happen.

Here’s why…

Many builders have year-end goals and sales quotas to hit.  If they have a “standing inventory” of homes that are completed but not sold, they are typically motivated to sell these homes by the end of the year.

This dynamic can be especially true for publicly-traded builders who are even more motivated to hit year-end sales numbers.

Up and down the Front Range there are beautiful new homes in fantastic neighborhoods.  The builders of these homes may be happy to make concessions and provide incentives as long as you close by year-end.

We just recently helped a buyer with a very compelling incentive package from a builder which included a lower price, additional landscaping and window coverings.

If you would like more details about these kinds of opportunities, reach out and we can help.


If you want to see even more insights about the Colorado market so that you can make really good decisions about your real estate, you are welcome to watch this complimentary webinar, just click HERE.


Posted on November 1, 2019 at 1:29 pm
Stephanie Woodard | Category: For Buyers, Housing Trends, Northern Colorado Real Estate | Tagged , , ,

Current Price Range in Northern Colorado

What is the most active price range in Northern Colorado? 

Take a guess…

  • $300,000 to $400,000
  • $400,000 to $500,000
  • $500,000 to $750,000
  • $750,000 and above

By far, the most active price range is $300,000 to $400,000 with 60% more closed transactions than the $400,000 to $500,000 range and 400% more than homes priced $750,000 and above.

However, this lower price range does not have the most inventory.  The price range with the greatest selection of homes is $500,000 to $750,000.

Posted on October 25, 2019 at 5:36 pm
Stephanie Woodard | Category: For Buyers, Housing Trends, Northern Colorado Real Estate | Tagged , , , ,

Two Story Home in Waterglen in Fort Collins!

Must see this quality built home by Richmond at 1126 Lochmore Place in Fort Collins with tile roof, featuring an open kitchen with stainless steel appliances. Hardwood floor through out the home, washer and dryer hook ups on the second floor, along with the bedrooms. Home backs to common green space. This home comes with a 1 year First American Home Warranty. Call for your private showing at (970) 215-2676 for more information or click the link below for more details.

http://windermerewindsor.com/listing/100724057

Posted on September 30, 2019 at 5:09 pm
Stephanie Woodard | Category: Fort Collins Real Estate, Virtual Tours | Tagged , , , , , ,

Colorado Real Estate Market Update – Q2 2019

The following analysis of the Metro Denver & Northern Colorado real estate market (which now includes Clear Creek, Gilpin, and Park counties) is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact your Windermere agent. 

ECONOMIC OVERVIEW

Colorado’s economy continues to grow with the addition of 45,900 new non-agricultural jobs over the past 12 months, which represents a growth rate of 1.7%. As I have stated in the last two Gardner Reports, we continue to see a modest slowdown in employment gains, but that is to be expected at this stage of the business cycle.

In May, the state unemployment rate was 3.2%, up from 3.1% a year ago. The increase in the rate is essentially due to labor force growth, which rose by over 55,700 people over the past year. On a seasonally adjusted basis, unemployment rates in all the markets contained in this report were lower than a year ago and are at full employment.

HOME SALES

  • In the second quarter of 2019, 17,853 homes sold. This is a drop of 1% compared to the second quarter of 2018 but a substantial 59.9% higher than the first quarter of this year. Pending sales — a sign of future closings — rose 5.8%, suggesting that closings in the third quarter are likely to show further improvement.
  • Half of the counties contained in this report saw sales growth, while the other half had fewer closings. Sales in the small Clear Creek County fell precipitously. However, it was only a drop of 20 sales.
  • The marginal drop in the number of sales compared to a year ago can be attributed to the ongoing increase in listing activity (+34.8%), which continues to give would-be home buyers more choice and less urgency.
  • Inventory levels continue to rise, but demand for housing appears to be ongoing. I am not concerned by the marginal year-over-year slowdown and anticipate that sales will rise again in the third quarter.

HOME PRICES

  • Home prices continue to trend higher, but the rate of growth has taken a pause, with the average home price in the region rising by just 2.3% year-over-year to $490,575.
  • The drop in interest rates this year has nudged more buyers off the fence and this can allow further price growth as we move through the year.
  • Appreciation was again strongest in Park County, where prices rose 6.1%. We also saw strong growth in Weld County, which rose by 6.1%. Home prices dropped in Clear Creek, Boulder, and Gilpin counties, but I do not see this as being indicative of a trend in these markets.
  • Affordability continues to be an issue in many Colorado markets and this may act as a modest headwind to ongoing price growth. However, some of the slowing may be offset by very favorable mortgage rates.

DAYS ON MARKET

  • The average number of days it took to sell a home in the markets contained in this report rose four days over the second quarter of 2018.
  • The amount of time it took to sell a home rose in all counties except Gilpin when compared to the second quarter of 2018.
  • It took an average of 29 days to sell a home in the region — a drop of 13 days compared to the first quarter of this year.
  • It is likely that the drop in time-on-market was a function of the emerging spring selling season as well as falling mortgage rates.

 

CONCLUSIONS

This speedometer reflects the state of the region’s real estate market using housing inventory, price gains, home sales, interest rates, and larger economic factors.

For the second quarter of 2019, I continue the trend I started last summer and have moved the needle a little more in favor of buyers. I continue to closely monitor listing activity to see if we get any major bumps above the traditional increase because that may further slow home price growth. However, the trend for 2019 will continue to be a move toward a more balanced market.

 

ABOUT MATTHEW GARDNER

As Chief Economist for Windermere Real Estate, Matthew Gardner is responsible for analyzing and interpreting economic data and its impact on the real estate market on both a local and national level. Matthew has over 30 years of professional experience both in the U.S. and U.K.

In addition to his day-to-day responsibilities, Matthew sits on the Washington State Governors Council of Economic Advisors; chairs the Board of Trustees at the Washington Center for Real Estate Research at the University of Washington; and is an Advisory Board Member at the Runstad Center for Real Estate Studies at the University of Washington where he also lectures in real estate economics.

Posted on August 8, 2019 at 4:27 pm
Stephanie Woodard | Category: For Buyers, Fort Collins Real Estate, Housing Trends, Northern Colorado Real Estate | Tagged ,

Wonderfully Maintained Attached Home in Fort Collins!

Great end unit at 6615 Desert Willow Way unit A3 with trees surrounding it, a lot of natural light inside. This unit has been well maintained and updated, new flooring on main floor and updated kitchen. Tankless hybrid hot water heater. Close to a City Park, Water Way Park. With 2 bedrooms upstairs and a bedroom and family/play area lower level, you have room to spread out. Call for your private showing at (970) 215-2676 for more information or click the link below for more details.

http://windermerewindsor.com/listing/96242676

Posted on June 10, 2019 at 7:44 pm
Stephanie Woodard | Category: Fort Collins Real Estate, Virtual Tours | Tagged , , , , , , , , , ,

Beautiful Home in Greeley on Half an Acre!

This must see home at 5506 West 27th Street in Greeley sits on half an acre with mature trees and shrubs and a view of Josephine Park. The large patio and finished basement complete with a bar/lounge area is the perfect place to entertain guests! No HOA, New exterior paint, roof, and gutters. Walk out basement, and two bedrooms in basement. Two brand new hot water heaters. One year old Furnace with a humidifier. All appliances stay with home. Call for your private showing at (970) 215-2676 for more information or click the link below for more details.

http://windermerewindsor.com/listing/95391743

Posted on May 15, 2019 at 7:26 pm
Stephanie Woodard | Category: Greeley Real Estate, Virtual Tours | Tagged , , , , , , , , , , , , , , ,

Wonderful Townhome in Fort Collins!

This 3 bedroom, 3 bath townhome at 1925 Waters Edge Street Unit B in Fort Collins backs to Spring Canyon, located near CSU and Rolland Moore Park. This unit has new carpet, new paint, updated windows. Enjoy the private patio and the open green space around this unit. This one won’t last long! Call for your private showing at (970) 215-2676 for more information or click the link below for more details.

http://windermerewindsor.com/listing/92773632

Posted on March 19, 2019 at 8:13 pm
Stephanie Woodard | Category: Fort Collins Real Estate, Virtual Tours | Tagged , , , , , , , , , ,

Beautifully Updated Home in Johnstown!

This home beats brand new! 3312 Tupelo Lane has so much to offer with 5 bedrooms, 3.5 bathrooms, and over 2000 sq. ft.! The main floor has been updated with wood-like tile and fresh paint and is great for hosting guests with the open and inviting spacious kitchen, dining, and living area. The upper level offers 4 bedrooms with a large laundry area, master suite with 5 piece bathroom to relax and unwind in. The best part is the garage! It offers enough space for 3 vehicles with room for storage. Call for your private showing at (970) 215-2676 for more information or click the link below for more details.

http://windermerewindsor.com/listing/91597560

Posted on February 20, 2019 at 7:35 pm
Stephanie Woodard | Category: Johnstown Homes For Sale, Virtual Tour | Tagged , , , , , , , , , , , ,