Where Is The Inventory?

There are 6,331 single-family homes for sale in Metro Denver.

If we look at inventory broken out by price range, there are some interesting take-aways.

Only 15% of the inventory is priced under $400,000
35% of the inventory is priced between $500,000 and $750,000. This price range represents the largest amount of homes for sale.
And would you believe, there are more single-family homes for sale priced over $1,000,000 than priced under $400,000.

If you are curious to know what the value of your home is in today’s market, we’d be happy to show that to you.


Posted on June 14, 2019 at 7:39 pm
Paul Hunter | Posted in Buyer Tips, Real Estate, Seller Tips |

Wonderfully Cared for Home in Loveland!

This wonderfully cared for home at 3100 Sweet Gum Court in Loveland has an open floor plan featuring vaulted ceilings on the main level. Upper level has master suite with 5 piece bath and 2 additional bedrooms with shared remodeled bath. Finished basement includes rec room and 2 additional bedrooms! Beautifully landscaped backyard with lots of mature trees and perennials. Large deck and patio make for great entertaining. Large over-sized 3 car garage and RV parking allowed. Home has new A/C, furnace, exterior paint, and new privacy fence. Call for your private showing at (970) 673-7285 for more information or click the link below for more details.

http://windermerenoco.com/listing/96280474


Posted on June 10, 2019 at 8:56 pm
Paul Hunter | Posted in Fort Collins Real Estate, Virtual Tours | Tagged , , , , , , , , , , , , , , , , , , , ,

The Latest

Here’s the latest from the Federal Housing Finance Authority’s report on price appreciation. They track 241 markets across the country. These are the one-year price growth numbers for the Colorado cities on their list:

Boulder = 6.14%
Colorado Springs = 9.18%
Denver = 6.97%
Fort Collins = 6.43%
Greeley = 7.06%

So, even though the pace of sales is going down, prices overall are still going up.

Even in today’s growing market, we do notice that in certain price ranges, in certain locations, sellers are having to reduce their price to attract offers on their homes.

What we know is that all markets are local and there are trends that occur on a micro level that sometimes differ than the overall macro trends.

If you are curious to know what the value of your home is in today’s market, we’d be happy to show that to you.


Posted on June 7, 2019 at 2:14 pm
Paul Hunter | Posted in Seller Tips |

New Home News

Nationally, sales of new homes are stronger than they have been in a long time. March was the best month since 2007 and April was the third-best month in that same time period.

This research comes from the National Association of Home Builders who show that we are on pace to sell 673,000 new homes this year across the Country. 5 years ago there were roughly 450,000 sales of new homes.

For the first four months of 2019, new home sales are 6.7% ahead of the sales pace of the initial four months of 2018.

What is interesting is that those gains have distinct regional clustering. Year-to-date sales are up 10.3% in the South, 6.7% in the West (concentrated in the Mountain states), and 1.3% in the Midwest, while recording a 17.6% decline in the Northeast.


Posted on May 31, 2019 at 1:44 pm
Paul Hunter | Posted in Buyer Tips, Seller Tips | Tagged , , ,

Down Again

Mortgage rates dropped again for the fourth week in a row.

The average 30-year rate is now 4.06% which is the lowest it has been all year.

Rates today are actually the lowest they have been since early 2018.

The main factor driving rates down is the trade war with China.

Investors are shifting money from stocks into bonds which causes the yield on the 10-year Treasury to drop.

Mortgage rates are closely aligned with the 10-year Treasury.

At the beginning of the year, most experts believed that 2019 would have a trend of increasing mortgage rates eventually reaching 5.5%.

Instead, the opposite has happened which is good news for real estate.


Posted on May 24, 2019 at 2:56 pm
Paul Hunter | Posted in Buyer Tips |

The Question of the Day

As we are helping people understand their new property assessments and putting together information so that they may protest their new valuation, here is the most common question we hear…

Did my property really go up that much?

Here are some stats that will help you answer that question.

First, you need to know that property assessments are done by the County every two years. So, as you look at how much your property increased in value according to the County, keep in mind that this increase is over a two-year period.

Next, it will help you to know how much our markets increased, on average, over the last two years. This data comes from our most trusted source, the Federal Housing Finance Authority.

Two Year Appreciation:

Metro Denver = 18.65%
Larimer County = 17.60%
Weld County = 22.31%
Boulder County = 16.28%

If you have questions about your new valuation or how to protest your property’s assessment, we would be happy to help. Just reach out and let us know.


Posted on May 17, 2019 at 1:57 pm
Paul Hunter | Posted in Seller Tips | Tagged ,

New Gardner Report!

 

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 44,800 new non-agricultural jobs over the past 12 months. This represents a reasonable growth rate of 1.7%. As stated in last quarter’s Gardner Report, we continue to see a modest slowdown in employment gains, but that’s to be expected at this stage of the business cycle. I predict that employment growth in Colorado will pick back up as we move through the year, adding a total of 70,000 new jobs in 2019, which represents a growth rate of 2.6%.

In February, the state unemployment rate was 3.7%, up from 2.9% a year ago. The increase is essentially due to labor force growth, which rose by more than 84,000 people over the past year. On a seasonally adjusted basis, unemployment rates in all the markets contained in this report haven’t moved much in the past year, but Boulder saw a modest drop (2.7%), and the balance of the state either remained at the same level as a year ago or rose very modestly.

 

HOME SALES

  • In the first quarter of 2019, 11,164 homes sold — a drop of 3% compared to the first quarter of 2018 and down 13.5% from the fourth quarter of last year. Pending sales in the quarter were a mixed bag. Five counties saw an increase, but five showed signs of slowing.
  • The only market that had sales growth was Adams, which rose 4.9%. The rest of the counties contained in this report saw sales decline, with a significant drop in the small Park County area.
  • I believe the drop in the number of home sales is partially due to the significant increase in listings (+45.6%), which has given would-be home buyers more choice and less need to act quickly.
  • As mentioned above, inventory growth in the quarter was significant, but I continue to believe that the market will see sales rise. I expect the second half of the year to perform better than the first.

 

 

HOME PRICES

  • Home prices continue to trend higher, but the rate of growth is tapering. The average home price in the region rose just 2.1% year-over-year to $456,243. Home prices were .3% higher than in the fourth quarter of 2018.
  • I anticipate that the drop in interest rates early in the year will likely get more buyers off the fence and this will allow prices to rise.
  • Appreciation was again strongest in Park County, where prices rose 21.9%. We still attribute this rapid increase to it being a small market. Only Clear Creek County experienced a drop in average home price. Similar to Park County, this is due to it being a very small market, making it more prone to significant swings.
  • Affordability remains an issue in many Colorado markets but that may be offset by the drop in interest rates.

 

 

DAYS ON MARKET

  • The average number of days it took to sell a home in Colorado rose five days compared to the first quarter of 2018.
  • The amount of time it took to sell a home dropped in two counties — Gilpin and Park — compared to the first quarter of 2018. The rest of the counties in this report saw days-on-market rise modestly with the exception of the small Clear Creek market, which rose by 26 days.
  • In the first quarter of 2019, it took an average of 42 days to sell a home in the region, an increase of four days compared to the final quarter of 2018.
  • Job growth drives housing demand, but buyers are faced with more choice and are far less frantic than they were over the past few years. That said, I anticipate the late spring will bring more activity and sales.

 

 

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 first quarter of 2019, I have moved the needle a little more in favor of buyers. I am watching listing activity closely 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 towards a more balanced market.

 

 

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 May 2, 2019 at 3:13 pm
Paul Hunter | Posted in About the area, Buyer Tips, Evans Real Estate, Fort Collins Real Estate, Homes for Sale, Investment, Johnstown Real Estae, Longmont Real Estate, Loveland Real Estate, Real Estate, Seller Tips, Wellington Real Estate, Windsor Real Estate | Tagged , , , , ,

What’s New: All About New Homes

All about new homes…

 

Nationally, sales of new homes are up 3% over last year and are running at an annualized pace of 697,000 homes.

 

To put that in perspective, in April 2011 the annual pace was 310,000 homes and in April 2005 it was 1,260,000.

 

So, nationally, new home starts are roughly double what they were at their lowest point in recent history and roughly half of what there were at their highest point.

 

How about locally?

 

According to our friends at Metrostudy, sales of new homes along the Front Range are up 20% over last year.

 

Front Range builders have had 28 consecutive quarters of new home start increases and are now building a similar amount of new homes as compared to 2007.

 

So, the new home market is strong but there is no indication of builders over-supplying the market.


Posted on April 26, 2019 at 1:53 pm
Paul Hunter | Posted in Real Estate |

Beautiful Two-Story Home in Longmont!

Amazing two story home at 1742 Sunlight Dr with a fully finished walkout basement! Basement features a full kitchen and it’s own washer and dryer. Vaulted ceilings in the master bedroom along with an open feel make this a grand feeling home. Updated kitchen with new appliances which opens in to a living room with a beautiful deck on which to enjoy the outdoors. Beautifully landscaped backyard that backs to a path leading directly to Alpine Elementary! Call for your private showing at (970) 673-7285 for more information or click the link below for more details.

http://paulhunterrealestate.com/listing/94622657


Posted on April 25, 2019 at 4:32 pm
Paul Hunter | Posted in Longmont Real Estate, Virtual Tours | Tagged , , , , , , , , , , , ,

Modern Luxury Living Near Old Town!

Would you like to live near the Spring Creek Trail, in a modern home, with 2 decks, minutes to Old Town, with beautiful finishes? You have found it! 1663 Sprocket Drive in Fort Collins offers an open kitchen and living area, a fully finished basement, and a gorgeous master suite make this a wonderful place to call home. Lower maintenance living with great access to all of Fort Collins, see this today! Call for your private showing at (970) 673-7283 for more information or click the link below for more details.

http://windermerenoco.com/listing/93630468


Posted on April 8, 2019 at 4:35 pm
Paul Hunter | Posted in Fort Collins Real Estate, Virtual Tours | Tagged , , , , , , , , , ,