Friday Fun Facts – Appreciation

Posted on September 21, 2018 at 1:54 pm
Paul Hunter | Category: About the area, Buyer Tips, Fort Collins Real Estate, Homes for Sale, Investment, Loveland Real Estate, Real Estate, Seller Tips, Wellington Real Estate, Windsor Real Estate | Tagged , , , , , , ,

Fort Collins Real Estate: Dual Markets

You may hear how the market is still blazing fast and homes are selling in just days, and you may hear that the market is slowing down and it is becoming more normalized. Here’s the truth……both of those statements are true! We essentially have a tale of two markets in Fort Collins, the one under $500,000 and the one over $500,000. Check out the graph below to see how quickly homes are selling in the market UNDER $500,000.

Under $500k

Now check out what the average days on market over $500,000 in Fort Collins looks like, quite the difference!

Over $500k

This is NOT terrible news for the over $500,000 market by the way. Now more than ever it is important to stand out from the crowd if you have a more expensive home, and our Windermere Premier Certified Listing program can help you feel like you are still in the super hot market of this past spring.

If you ever have any questions for me, please don’t hesitate to give me a ring or shoot me an email. Have a great week!

Posted on September 10, 2018 at 2:03 pm
Paul Hunter | Category: About the area, Buyer Tips, Fort Collins Real Estate, Homes for Sale, Investment, Real Estate, Seller Tips | Tagged , , , , , , ,

Friday Fun Facts! The Cost of Waiting

Posted on September 7, 2018 at 1:44 pm
Paul Hunter | Category: About the area, Buyer Tips, Fort Collins Real Estate, Homes for Sale, Investment, Loveland Real Estate, Real Estate, Seller Tips, Wellington Real Estate, Windsor Real Estate | Tagged , , , , , ,

Friday Fun Facts!

Posted on August 31, 2018 at 12:50 pm
Paul Hunter | Category: About the area, Buyer Tips, Fort Collins Real Estate, Homes for Sale, Investment, Loveland Real Estate, Real Estate, Seller Tips, Wellington Real Estate, Windsor Real Estate | Tagged , , , , ,

New Gardner Report

Colorado Real Estate Market Update

ECONOMIC OVERVIEW

Colorado continues to see very strong job growth, adding 72,800 non-agricultural jobs over the past 12 months—an impressive increase of 2.7%. Through the first five months of 2018, the state added an average of 7,300 new jobs per month. I expect this growth to continue through the remainder of the year, resulting in about 80,000 new jobs in 2018.

In May, the state unemployment rate was 2.8%. This is slightly above the 2.6% we saw a year ago but still represents a remarkably low level. Unemployment remains either stable or is dropping in all the markets contained in this report, with the lowest reported rates in Fort Collins and Boulder, where just 2.2% of the labor force was actively looking for work. The highest unemployment rate was in Grand Junction, which came in at 3.1%.

 

HOME SALES ACTIVITY

  • In the second quarter of 2018, 17,769 homes sold—a drop of 2.4% compared to the second quarter of 2017.
  • Sales rose in 5 of the 11 counties contained in this report, with Gilpin County sales rising by an impressive 10.7% compared to second quarter of last year. There were also noticeable increases in Clear Creek and Weld Counties. Sales fell the most in Park County but, as this is a relatively small area, I see no great cause for concern at this time.
  • Slowing sales activity is to be expected given the low levels of available homes for sale in many of the counties contained in this report. That said, we did see some significant increases in listing activity in Denver and Larimer Counties. This should translate into increasing sales through the summer months.
  • The takeaway here is that sales growth is being hobbled by a general lack of homes for sale, and due to a drop in housing demand.

 

 

HOME PRICES

  • With strong economic growth and a persistent lack of inventory, prices continue to trend higher. The average home price in the region rose
    9.8% year-over-year to $479,943.
  • The smallest price gains in the region were in Park County, though the increase there was still a respectable 7%.
  • Appreciation was strongest in Clear Creek and Gilpin Counties, where prices rose by 28.9% and 26%, respectively. All other counties in this report saw gains above the long-term average.
  • Although there was some growth in listings, the ongoing imbalance between supply and demand persists, driving home prices higher.

 

 

DAYS ON MARKET

  • The average number of days it took to sell a home remained at the same level as a year ago.
  • The length of time it took to sell a home dropped in most markets contained in this report. Gilpin County saw a very significant jump in days on market, but this can be attributed to the fact that it is a very small area which makes it prone to severe swings.
  • In the second quarter of 2018, it took an average of 24 days to sell a home. Of note is Adams County, where it took an average of only 10 days to sell a home.
  • Housing demand remains very strong and all the markets in this report continue to be in dire need of additional inventory to satisfy demand.

 

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 second quarter of 2018, I have moved the needle very slightly towards buyers as a few counties actually saw inventories rise. However, while I expect to see listings increase in the coming months, for now, 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.

 

Posted on August 3, 2018 at 2:00 pm
Paul Hunter | Category: About the area, Buyer Tips, Fort Collins Real Estate, Homes for Sale, Investment, Loveland Real Estate, Real Estate, Seller Tips, Wellington Real Estate, Windsor Real Estate | Tagged , , , ,

At Least

At Least List

Here’s a stat you’ve heard from me before…

It’s called “At Least List”

It measures how active the market is by tracking the number of single family homes that sell for at least list price.

Because of the demand in our market, many homes sell for list price or higher.

So here’s the latest based on closings so far in the month of July…

The percentage of single family homes selling for at least list price:

  • Fort Collins = 58%
  • Loveland = 67%
  • Windsor = 55%
  • Greeley = 75%

Based on these numbers, homes that are priced right, and positioned right in the market will attain the price the seller wants (or higher).

To see the whole story about our market along with other stats and trends, watch the recording of Tuesday’s Windermere Workshop right here.

Posted on July 30, 2018 at 1:29 pm
Paul Hunter | Category: About the area, Buyer Tips, Fort Collins Real Estate, Homes for Sale, Investment, Loveland Real Estate, Real Estate, Seller Tips, Wellington Real Estate, Windsor Real Estate | Tagged , , , , , ,

Friday Fun Facts

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Is There A Bubble?

Economists say there are three reasons why we aren’t in a housing bubble today.

The first reason they mention is the amount of new home construction compared to the 2006 housing bubble.

Today, along the Front Range, new home starts are down 38% compared to 2006. This is despite a much higher population than 12 years ago.

A major factor that caused the bubble was the glut of new construction inventory which doesn’t exist today.

Metrostudy, a leading new home research firm, says that Front Range builders need to have built 30,000 more new homes over the last 5 years to keep up with demand.

To see the whole story about our market along with other stats and trends, watch the recording of Tuesday’s Windermere Workshop right here.

If you want to be totally clear on all the stats, facts and trends in Colorado real estate so that you know what the future value of your home looks like, watch this video.

This is a complimentary service for our clients and friends.

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See all the latest facts, stats and trends of the Colorado market from the comfort of your own laptop.

Watch the Windermere Workshop video for a mid-year market update.

Posted on July 20, 2018 at 3:03 pm
Paul Hunter | Category: About the area, Buyer Tips, Fort Collins Real Estate, Homes for Sale, Investment, Loveland Real Estate, Real Estate, Seller Tips, Wellington Real Estate, Windsor Real Estate | Tagged , , , ,

Friday Fun Facts – 66% Off!

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.

Posted on May 11, 2018 at 2:36 pm
Paul Hunter | Category: About the area, Buyer Tips, Fort Collins Real Estate, Homes for Sale, Real Estate, Seller Tips | Tagged , , , , , ,

The Latest Edition of THE SCOOP!

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

The Scoop 1st Quarter 2018

Posted on April 16, 2018 at 3:23 pm
Paul Hunter | Category: About the area, Buyer Tips, Fort Collins Real Estate, Homes for Sale, Investment, Loveland Real Estate, Real Estate, Seller Tips, Wellington Real Estate, Windsor Real Estate | Tagged , , , ,

Friday Fun Facts!

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Top 4/Bottom 4

At the end of this weekend College Basketball’s Final 4 will be established. It might make you wonder, what the top 4 and bottom 4 real estate markets across the country?

Here they are, ranked by the last 12 months of appreciation according to fhfa.gov:

Top 4:

  1. Tacoma, WA 14.6%
  2. Seattle, WA 14.3%
  3. Port St. Lucie, FL 13.7%
  4. Las Vegas, NV 13.6%

Bottom 4:

  1. Atlantic, NJ -3.14%
  2. Peoria, IL -3.0%
  3. Huntington, WV -2.6%
  4. Jackson, MS -1.2%

Welcome to Friday Fun Facts!

Thanks for checking out this week’s Friday Fun Facts!

These little nuggets of information are designed to inform, education and entertain you. I promise to give you some solid takeaways, based on real life with information that will keep you up-to-date. CONTACT ME FOR MORE MARKET INFO

Posted on March 23, 2018 at 1:31 pm
Paul Hunter | Category: About the area, Buyer Tips, Fort Collins Real Estate, Homes for Sale, Investment, Loveland Real Estate, Real Estate, Seller Tips, Wellington Real Estate, Windsor Real Estate | Tagged , , , , , ,