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Fun Facts Luxury is Stronger The market above $1,000,000 is stronger than the market overall.This is true in both Northern Colorado and Metro Denver.The luxury market is not slowing to the same degree as the overall market.In Northern Colorado: Closed transactions are down 41% in the overall market and 26% in the luxury market over $1,000,000 Pending transactions are down […]
Fun Facts Big Jump We are seeing a big jump in properties for sale as measured by months of inventory.​​​​​​​ As a reminder, a market is considered balanced when there is between 4 and 6 months of inventory on the market.  Meaning, at the current pace of sales, it would take 4 to 6 months to sell all of […]
Blog Halfway Check This is a market which is changing quickly.  We are studying the numbers every day so we can be clear about where the market is heading. Here is a check on the market halfway through October. Compared to last October… Available inventory is up 73% in Northern Colorado and up 112% in Metro Denver.  This […]
Fun Facts Toward Balance Our market is moving toward a balanced market, but it is still unbalanced. By definition, a balanced market has between 4 and 6 months of inventory for sale. Today there is essentially two months.  One year ago, there was only 3 weeks of inventory. It has actually been 16 years since the market has been […]
Fun Facts The Big News The big news this week is obviously the rise in interest rates. Average 30-year fixed mortgage rates are now at 6.7% which is the highest they have been since July 2007. So, how is this affecting the market?  Here is what we notice… There are fewer buyers in the market.  Sales activity, measured by closed […]
Blog Most Multi There are more multi-family residential properties under construction than at any time since 1974.   890,000 properties with 2+ units are currently being built across the United States.  This includes both for-sale product, and for-rent product.   Additional supply is clearly beneficial for both buyers and renters and will hopefully relieve some of the housing […]
Fun Facts Price Peek Here is a peek at average residential prices along the Front Range through the first half of September and how they have changed versus one year ago: Larimer County = $663,000 up 11.6% Weld County = $511,000 up 4.5% Boulder County = $1,165,000 up 17% Metro Denver = $668,000 up 9%
Fun Facts Best Places U.S. News & World Report just released their ‘Best Places to Live’ rankings and two Colorado cities made the top five list. They rank the 150 most populated metropolitan areas on criteria such as employment, quality of life, and strength of the housing market. Here are the top 5: 1.  Huntsville, AL 2.  Colorado Springs, […]
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Fun Facts New Rankings The latest Home Price Index report has just been released by the Federal Housing Finance Authority. They track home price appreciation for the largest metropolitan areas in the U.S. plus state by state appreciation. Here is the ranking of the top three states for price growth over the last twelve months: 1.  Florida = 29% […]
Fun Facts Like 1993 Here’s a trivia question… The number of new, single-family homes completed in 2022 will most closely resemble which prior year? If you guessed 1993, you are correct. Yes, the number of homes built and completed this year is no more than the number from 30 years ago. In 2022, there will be just over 1 […]
Fun Facts Under 100 For the first time in a long time, the sale to list price ratio is below 100%. This statistic measures the final sales price versus the listing price. During the super-active market of the last 24 months, this number averaged over 100%. This was a result of multiple offers and bidding wars which caused buyers […]
Fun Facts What Gives? “I thought the market was cooling off, so why are prices still going up?” This is a frequent question we hear from our clients. They are understandably confused by the fact that average prices have continued to rise at a rapid pace even though sales activity is slower than what it was 6 months ago. […]
Fun Facts The “R” Word Our clients wonder what a recession would mean for the real estate market. Many assume it would translate into a downturn in prices. Some even worry that it would cause values to come crashing down. We looked back in history, at past recessions, to gain an understanding of what recessions mean for the Front Range market. […]
Fun Facts Asking Price Drop Data just released by Altos Research shows that 35% of all homes on the market have had to reduce their asking price. This is the highest this number has been since December of 2019. This is also an indicator of sellers adjusting to the reality of the new market where overly aggressive pricing is not […]
Fun Facts More Days A stat that we have expected to change is finally changing. “Days on Market” measures how long it takes for new listings to sell. Over the last two years this stat plummeted to levels we have never seen before. In the height of the market frenzy a year ago, properties were taking 7 days or […]
Fun Facts Two Week Snapshot Here is a quick snapshot of our markets two weeks into July versus the same time last year… Larimer & Weld Counties: Inventory up 61% Transaction count down 44% Prices up 17% Metro Denver: Inventory up 62% Transaction count down 31% Prices up 12%
Fun Facts Top Three Here are the top three reasons why prices are unlikely to crash even though the market has cooled off: Inventory – Ultimately, prices are driven by supply and demand.  Although supply has increased, it still remains relatively low with less than two months’ supply in most areas. New Homes – New home construction still lags […]
Fun Facts Weeks to Months For the first time in almost two years, there is more than a month’s worth of inventory on the market. This means that at the current pace of sales, it would take more than a month to sell all of the homes currently for sale. This is certainly welcome news for buyers who have been […]
Fun Facts Still Behind Single family new housing starts in 2022 will show an increase versus last year, will be the most since 2007, and will still be well behind the peak of 2006. This year, experts predict that a total of 1.1 million single family homes will be started. In 2021 there were 970 thousand new home starts. The […]
Fun Facts What the Numbers Say During a time of varying opinions and heavy speculation about the Front Range real estate market, let’s see what the actual numbers are telling us: Inventory is up significantly year over year: Larimer County = +48% Weld County = +52% Metro Denver = +74% However, supply is still low as measured by months of inventory: […]
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