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Fun Facts $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 […]
Fun Facts Ups and Downs Here is a look at how the market performed in August 2023 versus August 2022   Prices: Larimer County Up 4% Weld County Up 8% Metro Denver Up 6%   Transactions: Larimer County Down 18% Weld County Down 31% Metro Denver Down 15%   Inventory: Larimer County Up 18% Weld County No Change Metro Denver […]
Fun Facts 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. […]
Fun Facts 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 […]
Fun Facts 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 […]
Fun Facts Larimer Resilience To see the resilience of the Front Range market, look no further than Larimer County. The average price for closed single-family homes in the month of July was $724,000. This is only the third time in history Larimer County has exceeded $700,000 for average price in a month. July’s average price is a whopping 12% […]
Fun Facts 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 […]
Fun Facts 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 = […]
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Fun Facts 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 […]
Fun Facts Who 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 […]
Fun Facts The Listing Solstice Last Wednesday marked the first official day of summer and the longest day of the year. Coincidentally, the research shows us that listings are taking far longer to sell than one year ago. Specifically, days on market has increased by the following amounts in our market versus exactly one year ago:   Larimer County: 210% […]
Fun Facts 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
Fun Facts 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 […]
Fun Facts 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 […]
Fun Facts 2.5 Per Household On average, up and down the Front Range, there are 2.5 people living in each household. This is an important number to know as you read the stories about census data and population growth. Obviously, as population grows, housing needs also grow. For every 100 people added to the population, there needs to be 40 […]
Fun Facts 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 […]
Fun Facts 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 […]
Fun Facts 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 […]
Fun Facts 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 […]
Fun Facts Not As Different Real Estate in the first part of 2023 along the Front Range is certainly different than the first part of 2022.  But, in terms of number of transactions, it is not as different as one might guess. Yes, higher interest rates and lower inventory has caused the number of transactions to be less than last […]
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