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 properties under contract and scheduled to close versus the same time last year.
Current pending sales are way up along the Front Range when measured against 2019:
Metro Denver up 34.1%
Larimer County up 48.6%
Weld County up 50.2%
Based on these numbers, closed sales numbers over the next 60 days will be very strong.
Come see 4336 Carlyle Ln in Wellington, CO! This recently built home is on a great lot with privacy behind. Walk into the grand living room and well-appointed kitchen to experience the very open floorplan. There is an office on the main level if you work from home. Modern colors throughout, large master bedroom with a gorgeous master bathroom retreat. It even has a new roof! Call for your private showing at (970) 673-7285 for more information or click the link below for more details.
Have you been waiting for a multifamily opportunity? Well here is one close to CSU, a zero vacancy history, and numbers that make this a unique investment in west Fort Collins. 1113 – 1115 Cypress Dr, is a duplex that features a newer roof, updates in both units, and a location that can’t be beat. Gross rents of $2895 (plus chargebacks for utilities) deliver a cap rate of just above 6% based on real maintenance and upkeep costs. Remodeled bathroom in one unit, as well as some new flooring, this property has been well maintained and is ready for your investment portfolio! Call for your private showing at (970) 673-7285 for more information or click the link below for more details.
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 fueling the market to new highs.
Central Fort Collins for a great price! Well maintained home in Warren Farm, this is NOT one that backs to Horsetooth. Currently leased for $1750 per month through July of 2021, so it’s a great plug and play investment property. Call for your private showing at (970) 673-7285 for more information or click the link below for more details.
Incredibly unique rural property 528 E County Road 2 in Larimer County side of Berthoud. Water rights included in the sale, and the wells irrigate the landscaping. This home has multigenerational living with a master suite on one side and a separate living area on the other side with handicapped access and a kitchen (with no stove). Extra living area is handicap accessible. Detached garage, shop, and additional building that could be used for storage or an office space. 4 acres of currently farmed grass hay, mature and beautiful landscaping with trees, grass, and a large patio. Stainless appliances and 2 ovens for those that like to cook. Tankless water heater and new roof as well. Come see this home today! Call for your private showing at (970) 673-7285 for more information or click the link below for more details.
Beautiful custom home at 1613 Cottonwood Point Dr. in Fort Collins on Long Pond in Fort Collins. Walkout basement, two-story home with lake access and a dock. Across the street from the Fort Collins Country Club golf course, with over 6,000 square feet of living space. Attached bathrooms to bedrooms offer luxury throughout the home. Some of the most amazing lake views in Northern Colorado! Call for your private showing at (970) 673-7285 for more information or click the link below for more details.
Beautiful townhome at 4500 Seneca St #36 in west Fort Collins! Open main level with 2 story ceilings in the living room opens to your updated kitchen with plenty of space. 2 bedrooms upstairs, along with a finished basement offering even more living space. Relax by your fireplace in the living room or spend time on your private front porch. Come take a look today! Call for your private showing at (970) 673-7285 for more information or click the link below for more details.
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 required.
The population of Metro Denver is just under 3,000,000 and the population of Northern Colorado is just over 650,000.
Assuming the Front Range grows in population at 2% per year, that means 60,000 new people in Metro Denver and 13,000 new people in Northern Colorado each year.
To house those people, 24,000 new housing units need to be built per year in Metro Denver and 5,200 in Northern Colorado.
At Windermere Real Estate we are taking Safer at Home and Social Distancing very seriously. Our people are following our Safe Showings protocol, staying connected to their clients, and providing help wherever needed.