My family and I had the opportunity to visit Ouray this last week for 4 days for a Father’s Day vacation. It was a fantastic time! Ouray is set in the southwestern mountains of Colorado, and is one of the most beautiful spots not only in our state but in the country. There are outdoor activities like you wouldn’t believe, and the views are amazing. We got to enjoy it with our RV, and we stayed in Ridgeway State Park about 10 minutes from the town of Ouray. Our campground overlooked a huge reservoir, and was just about perfect. If you make it down there (a 6 hour drive from Loveland, although with a year and a half old kid let’s call it 8 hours!), you have to check out the hot springs and Box Canyon Falls. So much fun!

Campground View

Jackson enjoying the campground

Box Canyon Falls

Updated 3 bedroom, 3 bathroom at 2502 Timberwood Dr #82 in southeast Fort Collins town-home! Close to sought after schools, easy access to I-25, restaurants and shopping. Vaulted 2 story ceilings in the living room and an open floor plan. Relax on the back patio that opens to the greenbelt. New flooring, new paint, and stainless appliances. Finished basement creates a second en-suite area! Call for your private showing at 970-673-7285 for more information or click the link below for more details.

http://paulhunterrealestate.com/listing/80205519

We talk about it all the time, as Buyers we worry about it and as Sellers (who need to buy) we worry about it. But what do the numbers really look like?

Well, over the last 3 years in Fort Collins we have ranged between 1.11 months and 2.17 months of inventory over all of the price ranges. The National Association of REALTORS data suggests that a balanced market is when there is 6 months of inventory, so we have been in a “buyer’s market” for a while. Right now, we have the lowest level of inventory available in that 3 year span at 1.07 months of inventory in Fort Collins.

While that can sound daunting to a buyer, remember that the interest rates have already started to increase, so with that will come higher payments for the same loan amount. Combine that with the appreciation that is sure to continue to come due to the low inventory, you will ABSOLUTELY be paying more on a monthly basis for the same home 6 months or a year from now. It puts the search in perspective, and makes the competitive market worth while for you to buy now based on the numbers.

If you have any questions about where our data shows the Northern Colorado Real Estate market going, feel free to get in touch with me. Have a great week!

This just in…

For the month of April, the average price of a home in the city of Boulder was $1,247,000. This is according to the latest from our IRES MLS system.

If you want to own a home about an hour down the road in another really nice college town and get a 66% discount, you may want to check out Fort Collins 🙂

Yes, despite the recent uptick in prices here locally, we are still a bargain compared to Boulder. Here are median single-family prices for our markets and their relative price to Boulder:

• Fort Collins = $414,237 (66.8% off)
• Loveland = $360,150 (71.1% off)
• Greeley = $290,000 (76.7% off)
• Windsor = $306,450 (75.4% off)

Grab a copy of my Investment Kit so you can see the simple steps to get started without stress or complication. Email me at phunter@windermere.com and I will send you a video which clarifies the process and my Investment Checklist so you can see what to do first.

The following analysis of the Metro Denver & Northern Colorado real estate market 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 me.

ECONOMIC OVERVIEW

It’s good news for the state of Colorado, which saw annual employment grow in all of the metropolitan markets included in this report. The state added 63,400 non-agricultural jobs over the past 12 months, an impressive growth rate of 2.4%. Colorado has been adding an average of 5,300 new jobs per month for the past year, and I anticipate that this growth rate will continue through the balance of 2018.

In February, the unemployment rate in Colorado was 3.0%—a level that has held steady for the past six months. Unemployment has dropped in all the markets contained in this report, with the lowest reported rates in Fort Collins and Denver, where 3.1% of the labor force was actively looking for work. The highest unemployment rate was in Grand Junction, which came in at 4.6%.

HOME SALES ACTIVITY

• In the first quarter of 2018, there were 11,173 home sales—a drop of 5.6% when compared to the first quarter of 2017.
• With an increase of 5.3%, home sales rose the fastest in Boulder County, as compared to first quarter of last year. There was also a modest sales increase of 1.2% in Larimer County. Sales fell in all the other counties contained within this report.
• Home sales continue to slow due to low inventory levels, which were down 5.7% compared to a year ago.
• The takeaway here is that sales growth continues to stagnate due to the lack of homes for sale.

HOME PRICES

• Strong economic growth, combined with limited inventory, continued to push prices higher. The average home price in the markets covered by this report was up by 11.7% year-over-year to $448,687.
• Arapahoe County saw slower appreciation in home values, but the trend is still positiveand above its long-term average.
• Appreciation was strongest in Boulder County, which saw prices rise 14.8%. Almost all other counties in this report experienced solid gains.
• The ongoing imbalance between supply and demand persists and home prices continue to appreciate at above-average rates.

DAYS ON MARKET

• The average number of days it took to sell a home dropped by three days when compared to the first quarter of 2017.
• Homes in all but two counties contained in this report took less than a month to sell. Adams County continues to stand out where it took an average of just 17 days to sell a home.
• During the first quarter, it took an average of 27 days to sell a home. That rate is down 2 days from the fourth quarter of 2017.
• Housing demand remains strong and would-be buyers should expect to see stiff competition for well-positioned, well-priced homes.

CONCLUSIONS

This speedometer reflects the state of the region’s housing market using housing inventory, price gains, home sales, interest rates, and larger economic factors. In the first quarter of 2018, I have left the needle where it was in the fourth quarter of last year. Even as interest rates trend higher, it appears as if demand will continue to outweigh supply. As we head into the spring months, I had hoped to see an increase in the number of homes for sale, but so far that has not happened. As a result, the housing market continues to heavily favor sellers.

Matthew Gardner is the Chief Economist for Windermere Real Estate, specializing in residential market analysis, commercial/industrial market analysis, financial analysis, and land use and regional economics. He is the former Principal of Gardner Economics, and has more than 30 years of professional experience both in the U.S. and U.K.

334 E Mulberry St a prime Old Town Fort Collins location. Close to restaurants, bars, galleries, festivals, and more. Private parking lot with 21 spaces. Building built by a pioneer in the brick and plaster businesses. The Arthur House was a single family home for Colorado pioneer (and others), fraternity house, full-time assisted senior living. Has a CO for 5 apartments. Zoned NCB, this property could remain apartments or adaptable to numerous businesses or a residence. Contact me for your private showing at 970-673-7285 or click the link below for more details.

http://paulhunterrealestate.com/listing/78573933

Check out the link below for interesting and helpful info on the Northern Colorado Real Estate Market!

The Scoop 1st Quarter 2018