About the area

About the area 14 Times For the 14th time this year, 30-year mortgage rates set a record and hit an all-time low. Based on data just released by Freddie Mac, rates are now at 2.71%.  Their weekly survey of the 30-year mortgage rate dates back to 1971. Just one year ago rates were at 3.68%. So, what does this mean […]
About the area A Little Perspective A Little Perspective Here’s a little perspective on the inventory of homes for sale in today’s market… First we’ll look at Metro Denver: • The average number of residential listings for sale at this time of year is 15,577 • The highest-ever for this time of year is 29,722 which occurred in 2006 • The […]
About the area The Votes are In Real estate buyers made their voices heard last month and made a clear choice for… higher-end properties! One of the interesting dynamics of our current market is the significantly- increased activity in higher price ranges. The combination of high equity and low interest rates is clearly causing people to move up. They are able to […]
About the area Brand New Market Report The latest quarterly report from our Chief Economist Matthew Gardner is now available. Here is a quote from the report with his take on the Front Range economy: What a difference a quarter makes! Following the massive job losses Colorado experienced starting in February—the state shed over 342,000 positions between February and April—the turnaround has […]
About the area Re Bubble The activity in the Front Range market is causing us to hear the bubble question again. People are curious to know, based on recent growth in price appreciation, if we are in a housing bubble. This questions seems to crop up when prices go up. While we do not believe that the current double-digit price […]
About the area Stat of the Month 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 = […]
About the area Pendings are Popping Temperatures may be cooling off but the Front Range real estate market is not. Typically the market starts to slow down a bit in the Fall after a hot Spring and Summer. Not this year. The indicator we use to measure future closed sales is current pending sales. Simply, we look at the number of […]
About the area New Home Surge Sales of new homes have jumped to their highest levels in 14 years. The annualized rate of single-family new construction homes is now at 901,000 according to the new Census Bureau report. This means that across the U.S., at the current pace of sales, there will be almost 1,000,000 new homes built and sold over […]
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About the area Start it UP! Start it Up As further evidence that the housing market is more than alive and well, new home starts have recently jumped across the U.S. Building of residential properties is up 23.4% compared to last year and up 22.6% from last month. Pre-pandemic demand for new homes was very high. Now, record-low interest rates are […]
About the area Rebound The Case-Shiller Home Price Index tracks appreciation in the 20 largest real estate markets across the U.S. Their most recent quarterly report was just released this week. Metro Denver prices are up over last year by 3.89% which is just slightly higher than the average of the 20 markets. It is interesting to see how […]
About the area Spring in Summer This year the Spring market is occurring in the Summer. Typically the busiest months for real estate along the Front Range are April, May and June. This year, because showing activity was restricted in the Spring months, we are seeing robust activity this Summer. Here’s an indicator.  Sales through July 2020 versus July 2019 are […]
About the area Housing Math It’s interesting to look at what population growth means for housing. On average, along the Front Range, 2.5 people live in each housing unit. What that means is 4 housing units are needed for every 10 people who live here. So, for every 1000 new people moving to our area, 400 new housing units are […]
About the area Not Taxing Pop quiz… Which state has the lowest effective property tax rates? It’s not Colorado. But, if you guessed Colorado you’re close! Hawaii has the lowest effective rate at .27%. Colorado is ranked 3rd at .53%. New Jersey is the highest at 2.47% So, Colorado’s property tax rate is one fifth of New Jersey. It’s also […]
About the area Caught Up We’ve been waiting for June to catch up. It finally happened (almost). Back in April, real estate activity was significantly limited and the showing of property was restricted which caused the number of closed properties in May and early June to be much lower than last year. Bottom line, fewer properties going under contract in […]
About the area Rate Meaning Mortgage interest rates have hit another record low this week. Mortgage applications for purchases just hit an 11-year high. Rates are at a level that many people could never have imagined. Here’s something that is surprising to many people… Rates are 1.5% lower than they were just two years ago. Here’s what that means for […]
About the area Special Event On Wednesday April 22nd you are invited to a special online event with Windermere’s Chief Economist Matthew Gardner. He will be giving his insights into the U.S. economy and what that means for real estate along the Front Range of Colorado. You will hear the answers to the biggest questions we are hearing from clients […]
About the area Vital Signs Here are the vital signs for the Northern Colorado market. First, Larimer County: Average prices are up 2.4% Number of transactions is down 2.5% Inventory is up 11.9% Days on market is up 4.1% Now, Weld County: Average prices are up 4.3% Number of transactions is up 3.6% Inventory is up 12.9% Days on market […]
About the area County by County Metrostudy, who in our opinion is the leader in new home research, recently did a study on the average price of a new home in each of the Front Range Counties. Here are some interesting takeaways… If you want to find the least expensive new home on the Front Range, the places to look are […]
About the area Compound Effect If you have driven on I-25 lately you may have noticed that the Front Range is a popular place. The projections show that it will only get more popular in the future. Today, 4.8 million people live along the Front Range from Fort Collins down to Pueblo. In 2030, just 11 short years from now, […]
About the area 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 […]