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 = 16.9%

Weld County = 7.4%

This change in prices has of course generated questions from our clients.

To help our clients answer questions about prices and other real estate topics, we have set up a private online event with our Chief Economist Matthew Gardner.

The event is set for Tuesday from 9:00 to 10:00.

Simply reach out to any Windermere broker to receive your registration link.

Matthew will be addressing these questions as well as many others:

What effect will the election have on the economy and on real estate?

How long can interest rates stay this low?

Can prices keep appreciating at their current pace?

This online event is for the clients and friends of Windermere.  If you would like to register, please connect with your Windermere broker.

Posted on October 2, 2020 at 12:59 pm
Paul Hunter | Category: About the area, Buyer Tips, Friday Fun Facts, Homes for Sale, Real Estate | Tagged , , , , ,

A History Lesson

With the stock market on a wild ride and the Dow Jones dropping nearly 1,000 points yesterday, it makes some people wonder if the local real estate market might also crash or at least “correct.”

A little history lesson is in order.

Over the last 40 years, the real estate market along the Front Range has averaged 5.5% appreciation per year.

The highest appreciation in one year was 15.9% in 1994.

The lowest ever was -4.0% in 1982.

The last time Wall Street was in turmoil and the stock market was plummeting was 2008.  This was, for many reasons, the worst economy of our lifetime.

That year real estate along the Front Range dropped 2.2%.

Meanwhile that year the Dow Jones fell 33.8%.

Bottom line, our market has no history of crashing or even experiencing a major correction.

Why is that?

The answer is fundamentals.

Our local economy has inherent fundamentals that insulate it from big downturns.

We have an incredibly diverse economy which is not reliant upon a single industry.  We have all the way from health care, to technology, agriculture, oil and gas, major universities, and financial services (just to name a few).

We are a global destination with a major international airport.

Oh, and the quality of life here isn’t too shabby.

Prices of real estate, just like prices of anything, come down to basic economic principles of supply and demand.

Because of our diverse economy and desirable quality of life, there has been strong, consistent demand for housing along the Front Range.

While there may be little bumps along the way, over the long term our market has proven that it performs.

 

Posted on March 6, 2020 at 1:49 pm
Paul Hunter | Category: Buyer Tips, Friday Fun Facts, Homes for Sale, Investment, Real Estate, Seller Tips | Tagged , , ,

Friday Fun Facts

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Luxury Spotlight

So how’s the luxury market? Let’s look…

Today there are 88 single family homes for sale in Larimer and Weld County priced at $1 Million and above.

Over the last year, 63 of these properties have sold.

This means it would take 17 months to sell all of these luxury properties at the current pace of sales.

Where do most of these sales occur? The most active city is Fort Collins with 18 luxury sales followed by Loveland with 13.

The most active neighborhood in all of Northern Colorado for luxury properties is the Harmony Club in Timnath with 8 sales.

Windermere Real Estate is proud to have represented the most expensive home to sell in Northern Colorado in the last two years – a $2,800,000 property in the Harmony Club which featured a gourmet French Kitchen, reclaimed barnwood floors and handmade peg wood beams.

Contact me to learn more about our Premier Properties program which is custom designed to sell luxury homes.

Posted on March 3, 2017 at 10:17 pm
Paul Hunter | Category: About the area, Real Estate, Seller Tips | Tagged , , , , , ,

Friday Fun Facts!

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Stadium Impact?

Today we are looking at one of the hot topics in Northern Colorado. Is the new CSU football stadium impacting real estate values in the surrounding neighborhoods?

The answer, based on the research we’ve done so far, is… yes!

Here are the details…

We looked at the residential properties in the 1-mile radius surrounding the new stadium. We pulled the sales over the last three years in that area. Then we compared that area to the market as a whole.

Let’s talk about prices first. Residential prices inside the City Limits of Fort Collins went up 11% last year and 12% the year before that. Within the stadium’s 1-mile radius, prices only went up 1% last year, but 14% the year before that. It seems that recent construction has impacted prices.

Now what about number of sales? Residential transactions have gone down 5% per year each of the last two years. Near the stadium, the decrease has been even larger at 7 to 8% per year.

It does seem that the stadium has had an impact. We will continue to keep our eye on this trend!

One footnote is that last year had more condominium sales than the year before which has an impact on average price.

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To receive a copy of our entire Market Forecast presentation full of interesting facts and incredible takeaways about our market, email me at phunter@windermere.com and I will send you copy right away.

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.

You can expect an entertaining short video or article once a week.. If you really like it, share it with your friends!

Posted on February 17, 2017 at 7:42 pm
Paul Hunter | Category: About the area, Buyer Tips, Investment, Real Estate, Seller Tips | Tagged , , , , , , ,

2017 Windermere Forecast

Give me a call or shoot me an email if you can make it, would love to have you there!

 

Email Signature Invite-Fort Collins

Posted on January 9, 2017 at 6:14 pm
Paul Hunter | Category: About the area, Buyer Tips, Investment, Real Estate, Seller Tips, Things to Do | Tagged , , , , , , , , ,

Even In November-The Market Is Still Moving!

Now that we have finished with the election turmoil, we’ll start to see what the results will mean for the housing market. If you’d like to see Windermere’s Economists point of view on the matter, check out this link.

We are still seeing signs of low inventory and a quick moving market, and even some antidotal evidence that the $500,000 to $750,000 segment of the market is starting to see more showings and activity than we saw in August through October. The average price in Fort Collins year to date is up 10.4% to $395,913, almost $400,000 average price. We are also at 1.8 months of supply (remember the National Association of REALTORS says a balanced market is 6 months), and that is a 28% drop since last year at this same time. This means we have even LESS homes to satisfy the market.

Single Family Data

While interest rates have started to climb a little since the election, we are still historically low for interest rates so if you need or want to buy then now is a great time! And as a seller, as we’ve seen with the data I’ve presented above, if you want to sell your home give me a call and we can talk about how the Windermere Certified Listing program can help get your home sold quickly!

If you have any questions about this data, please feel free to give me a call or shoot me an email. I hope you all have a great Thanksgiving week!

Posted on November 21, 2016 at 4:21 am
Paul Hunter | Category: About the area, Buyer Tips, Investment, Real Estate, Seller Tips | Tagged , , , , , ,

Real Estate-Stay On Your Toes

Buyers and Sellers, there are opportunities for both parties in this northern Colorado real estate market. The only caveat to that statement is that we need to be ready for whatever comes our way and be able to move quickly. On the Buyer side, that means being proactive about seeing homes that come on the market and having me use tactics to try and find homes that have not hit the MLS yet. For Sellers that means being ready to knowledgably review multiple offers on your listing, and choose the one that gets you not only the most money, but has the best chance of closing (not always the same thing). 

I would love to talk with you in more detail about the real estate market opportunities in northern Colorado, so feel free to give me a call, I'll take you to coffee! 

 

Posted on February 2, 2015 at 4:50 am
Paul Hunter | Category: Real Estate | Tagged , , , ,

Neighborhood News Now Available!

Are you interested in finding out what is going on in real estate in your neighborhood area? Sign up for my Neighborhood News report, and get the inside track to the housing activity that can affect your home's value! 

If you or anyone you know needs a Market Analysis to find out exactly what your home is worth in this competitive market, please contact me and let me know. 

I hope that you have a fantastic Monday and week ahead!

Posted on January 12, 2015 at 2:22 pm
Paul Hunter | Category: Real Estate | Tagged , , ,

September KEVCO Newsletter

Newsletter – September 2014

Posted on September 3, 2014 at 7:57 pm
Paul Hunter | Category: About the area, Buyer Tips, Seller Tips | Tagged , , ,

Absorption Rate and Inventory

sold_signWell here we go again, homes are being absorbed into the market even faster than they were back in April! Absorption rate is the time it would take to sell all of the homes on the market today, kind of a balance sheet snapshot of inventory vs speed of sale. The interesting thing is that new listings are about the same, so the homes that are hitting the market are selling even more quickly. Instead of an absorption rate of 3.12 months in April, we are down to 1.46 months, a HUGE change. A lot of this can be attributed to the under $300,000 market moving so quickly as buyers clamor to get the remaining affordable homes in Fort Collins, but homes are still moving much more quickly even in the upper price ranges than a balanced market would usually allow for.

What to do with this information? Basically, as a buyer you need me to be proactive in searching for homes for you, and need to be ready to make very fast decisions on making an offer. This means being pre qualified and ready to go at a moment’s notice. As a seller, if you own a home in the under $300,000 price range and have considered selling, now is the time.

I hope you all have a great week, and as always please give me a call if you or anyone you know is in need of real estate help!

Posted on July 28, 2014 at 8:44 pm
Paul Hunter | Category: About the area, Buyer Tips, Investment, Seller Tips | Tagged , , , , ,