Northern Colorado Economic Snapshot
Units Listed – Single Family & Attached Dwelling
Area Apr/’13 Apr/’12 % Change
Fort Collins 1,032 1,371 -24.7%
Greeley 471 512 -8%
Loveland 667 765 -12.8%
Totals 2,170 2,648 -18.1%

YTD* Units Sold – Single Family & Attached Dwelling
Area 2013 2012 % Change
Fort Collins 1,008 812 24.1%
Greeley 478 384 24.5%
Loveland 623 504 23.6%
Totals 2,109 1,700 24.1%
Source: Ires, LLC | *YTD represents through the month of April
In the span of less than two years the Front Range real estate market has shifted from a buyer’s market, to a balanced market, to a seller’s market. Driven by pent-up demand and affordable mortgage interest rates, the Front Range real estate market regained its mojo. Sometimes the wheels of change move quickly. 

The question becomes can the Northern Colorado real estate market sustain itself? The available inventory of single family homes in Northern Coloradocontinues to creep-up, but at a snail’s pace. When comparing the end of April 2013 to the end of April 2012, available single family & attached homes in Northern Colorado are down 18.1 percent.

Across the Front Range the real estate market is beginning to experience the trickle-up effect where more expensive homes are selling. The average single family home through April 2013 in Northern Colorado has sold for $259,356. This compares to $248,513 through April 2012, an increase of 4.36 percent. Entry level homes continue to sell well and now the market is undergoing an upper movement in buyer confidence. That’s a positive sign for the market as a whole. 

As we enter the peak real estate selling season here are some things buyers and sellers will need to focus on. For buyers, available inventory will continue to remain at a low level with well-priced homes selling quickly. Get your financing in place before you make an offer. This bodes well in the mind of sellers to know they have a qualified buyer. It also makes sense in terms of timing. The early bird catches the worm, or in this case makes the home purchase. 

For sellers, be aware of changing market conditions. Home values are trending up in most areas and price segments. Take advantage of that shift by pricing your home competitively, but also knowing this is not a discount housing market. There will still be “bottomfeeders” out there looking for “deals”. Don’t feel like you need to buy into that scenario. 

 If you want more specific information about the market trends in your zip code, click on the link below and enter your Zip code! 

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