Fun Facts

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Fun Facts A New Change There is a new type of change to be prepared for. One interesting way to track the market is to measure the year-over-year difference in inventory. Quite simply, this looks at how many homes are available today versus the same time one year ago. For the past several months in a row, the difference as […]
Fun Facts Not What Many Thought Despite higher interest rates, prices did not decrease like many people thought. They certainly have not crashed like many thought. Average prices along the Front Range have seen only a slight decrease versus last year. The average price in May this year has decreased versus May of last year by:   2.5% in Larimer County […]
Fun Facts 2.5 Per Household On average, up and down the Front Range, there are 2.5 people living in each household. This is an important number to know as you read the stories about census data and population growth. Obviously, as population grows, housing needs also grow. For every 100 people added to the population, there needs to be 40 […]
Fun Facts Months of Supply As measured by months of supply, we have a strong Seller’s market in Northern Colorado. Both Larimer County and Weld County measure at 1.6 months of supply. That means, at the current pace of sales, it would take only about 6 weeks to sell all of the existing homes for sale. The measurement becomes even […]
Fun Facts More New Nationally, new home inventory as a percentage of the total inventory just hit a record high. 26% of all properties currently available for sale are brand new homes. To put this in perspective, in 2018 it was 14%. From 2000 to 2008 it bounced between 10% and 15% Locally, we notice even higher numbers. In […]
Colorado Housing TAX ASSESSMENT TIME This week’s fun fact is that you just received your new valuation from your County Assessor and you have until June 8th to protest the value. By statute, properties in Colorado are re-assessed every two years and owners are given their new Assessed Valuation in early May. This year, many Colorado property owners are surprised […]
Fun Facts In Demand For evidence that the Front Range is a desirable place to live and own real estate, look no further than the average price of our real estate. According to the National Association of Realtors, the average price of a home in the United States is $486,000. Compare that to the average price in our major […]
Fun Facts Not As Different Real Estate in the first part of 2023 along the Front Range is certainly different than the first part of 2022.  But, in terms of number of transactions, it is not as different as one might guess. Yes, higher interest rates and lower inventory has caused the number of transactions to be less than last […]
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Fun Facts More Buyers Than Sellers The real estate market today, quite simply, has more buyers than sellers. Let’s be clear, this is not the heated market of 2021 and 2022. However, the market is undersupplied in most price ranges and most locations. The National Association of Realtors just reported that the number of new listings hitting the market each week […]
Fun Facts Dropping Inventory Breaking News – months of inventory has dropped significantly signifying an uptick in real estate activity along the Front Range.‘Months of inventory’ is an important statistic and something we commonly talk about in this blog. It simply measures how long it would take to sell all of the homes currently for sale at the current pace […]
Fun Facts Picking up Steam In a market that seems abnormal to a lot of people we notice a very normal trend right now.  As we head into Spring, activity is picking up. This happens pretty much every Spring and it is happening again. When we measure the number of properties under contract, which are set to close in the […]
Fun Facts No Middle Class “The middle class is going away” is an often-used adage when talking about society. It is also a good way to describe today’s real estate market.  When it comes to properties for sale, the middle class has gone away.There is a class of listings which are priced to the market, in great condition, with world-class marketing.Then, […]
Fun Facts March Madness When things get crazy on Wall Street, it’s often good for real estate. Uncertainty in the stock market attracts investors to the stability offered by Treasury Bonds. Higher demand for bonds means lower interest rates which is obviously good for real estate buyers. “Turbulence in the financial markets is putting significant downward pressure on rates” […]
Fun Facts Equity Cushion You may remember the term “Home ATM” from the mid 2000’s. This term stemmed from the abundance of homeowners who pulled significant amounts of equity from their homes in the form of Home Equity Loans and Lines of Credit. Home values dropping in 2008, 2009 and 2010 caused many homeowners to be ‘underwater’ meaning that, […]
Fun Facts Small is the New Big The average size of new homes is dropping.  This is after a two-year period that saw size increase significantly.  This is according to the National Association of Home Builders’ Eye on Housing.The COVID-19 pandemic changed how much time people spent in their homes and also how they used their homes. Homeowners discovered a need for […]
Fun Facts A Little Perspective… Those of us in the real estate industry agree that the years 2020 to 2022 were anomalies.  During that time there were unique factors which drove abnormally high real estate activity. The number of transactions that occurred in those three years were at levels never seen before.It has become customary to compare the market in 2023 […]
Fun Facts Rate Prediction Our Chief Economist, Matthew Gardner predicts that interest rates will hit 5.4% by the end of 2023. His prediction is aligned with most expert real estate economists. While rates will continue to bounce up and down as the year goes on, the general trend will be lower rates. This prediction is mainly based on the […]
Fun Facts Jobs Bounce As the job market goes, so goes the housing market.  This is a fact about any primary housing market. If employment is growing, the housing market will keep growing. One of the many positive indicators of the healthy Northern Colorado economy is the fact that the jobs lost during the pandemic have bounced back. Not […]
Fun Facts Equity Rich Homeowners in Northern Colorado have a bunch of equity in their homes.This fact was reported by our Chief Economist Matthew Gardner at our annual Real Estate Market Forecast event.The term ‘equity rich’ is defined as someone who has at least 50% equity in their home.For example, if someone owns a home worth $500,000 and their […]
Fun Facts Luxury Stats The numbers are in.  2022 was another strong year for luxury sales of properties over $1,000,000.Along the whole Front Range in 2022, the number of luxury properties that sold was up 6.28% over 2021.The sold price per square foot was up 5.98% compared last year.Most interestingly, the number of luxury properties that closed this past […]
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