Come see 2664 Bluestem Willow Dr with hand troweled walls throughout, upgraded cabinets with soft close features in the entire home, gourmet kitchen with double oven and gas range. Huge kitchen island for prep and entertaining. Upgraded stone counters in addition to granite. Walkout basement finished with another suite with attached bath, and large family room with fireplace and wet bar. High ceilings, deck off of living room. Next to pool and trails. Recent appraisal for $750k! Call for your private showing at (970) 673-7285 for more information or click the link below for more details.
There has been A LOT of development in the Loveland and Fort Collins areas in the way of accommodations in the last few years. The Elizabeth Hotel in Fort Collins being one of the most notable. But Loveland is keeping up with its Foundry development that is a public/private partnership to bring even more life to the Downtown Loveland area.
A new hotel is being added to the mix, and it will be a 102 room Towne Place Suites by Marriott, and it will be right downtown. There will be an indoor swimming pool, meeting space, and will be pet friendly. Now people will be able to look at Downtown Loveland as a destination, with shopping, restaurants and hotels all within walking distance of each other.
If you have any questions about this hotel or the Foundry development in Loveland, give me a call!
I want to thank everyone that was able to make it to our Market Forecast last week, we all really appreciate it! If you would like to get the powerpoint presentation or would like a rundown from the event, please give me a call or shoot me an email. Or if you would like to know more about the market activity in your neighborhood or the value of your home specifically, let me buy you lunch and we can talk more about it!
Loveland homes take only 46 days on average to sell. That’s really fast, just 5 years ago it took almost twice as long.
The 207 homes for sale equal a 5-week supply. Of all those homes for sale, only 7 are priced under $300,000.
The average price of a home in Loveland is $371,479. It was just two years ago that prices broke through the $300,000 barrier. It looks like Loveland average prices will hit the $400,000 mark in a year.
Loveland is a lovely place to own real estate!
Speaking of home values, we just released a video that answers the question “What is my home worth?” To watch the 4-minute video CLICK HERE
The following analysis of the Metro Denver and 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.
Annual employment in Colorado grew by a respectable 2.3% in February, which equated to about 64,000 new jobs over the past 12 months. Within the metropolitan market areas included in this report, employment has been mixed, with Denver, Fort Collins, and Colorado Springs reporting above-average growth. However, Greeley and Grand Junction saw a modest decline in employment.
In February, the unemployment rate in Colorado was 2.9%, down from 3.3% a year ago. The lowest reported unemployment rates were in Fort Collins and Boulder, at just 2.6%. The highest rate was in Grand Junction, but it was still a respectable 4.7%.
There were 11,640 home sales during the first quarter of 2017, an annual increase of 2.2%.
Arapahoe County saw sales grow at the fastest rate over the past 12 months, with a 7.9% increase. There were also impressive increases in Douglas County. There were very modest sales declines in the relatively small Larimer and Weld Counties.
Listing activity remains well below historic averages, with the total number of homes for sale in the first quarter 10.7% below that seen a year ago.
Home sales are generally higher than seen a year ago, but inventory levels are well below where they need to be to satisfy would-be buyers.
With demand remaining strong, home prices continue to escalate. In the first quarter of this year, average prices rose by 8% when compared to a year ago. Average home prices across the region broke the $400,000 barrier at $402,273.
Home prices remain well above historic highs and continue to trend upward. While there are very modest slowdowns in price growth—possibly a function of rising interest rates—they should continue to appreciate at above-average rates throughout 2017.
Appreciation was strongest in Arapahoe and Weld Counties, where prices rose by 12.2% and 10.1% respectively.
The housing market remains strong and this will continue until we see a substantial increase in the number of homes for sale, which is unlikely in the near-term.
DAYS ON MARKET
The average number of days it took to sell a home dropped by one day when compared to the first quarter of 2016.
Homes in a majority of the counties took less than a month to sell.
During the first quarter, it took an average of 30 days to sell a home. This is down by one day compared to the same time last year.
Demand remains very strong across the region, which is evident by the remarkably short amount of time that it takes to sell a home.
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 2017, the needle remains well into seller’s territory. The recent increases in mortgage rates have not had any dampening effect on either demand or home prices, and I expect this will remain unchanged through the end of the year.
ABOUT MATTHEW GARDNER
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 over 25 years of professional experience both in the U.S. and U.K.