I thought it would be interesting to track the inventory consumption/Absorption Rate of existing homes for Northern Colorado. The best market area has been the Greeley/Evans area at less than 6.0 months of inventory. However they still have a lot of foreclosures and short sales diluting their inventory.
Loveland and Ft Collins are starting to see an up tick in invetory in September. I feel this is due to the seasonal effects starting to take hold.
Bottom line...it's still a great time to buyer property in Northern Colorado.
|
Existing Home Absorption (months of inventory) |
||||
|
Market Area |
July 09 3-mo Avg |
Aug 09 3-mo Avg |
Sept 09 3-mo Avg |
|
|
Loveland /Berthoud |
6.79 |
6.26 |
7.17 |
|
|
Ft Collins/Wellington |
6.38 |
5.98 |
6.58 |
|
|
Greeley/Evans |
5.23 |
5.33 |
5.46 |
|
|
Windsor |
8.84 |
8.91 |
9.17 |
|
Rob Proctor, Broker - At Home Realtors, Loveland Colorado http://www.at-home-realtors.com
I thought it would be interesting to track the inventory consumption/Absorption Rate of existing homes for Northern Colorado. The best market area has been the Greeley/Evans area at less than 6.0 months of inventory. However they still have a lot of foreclosures and short sales diluting their inventory.
Loveland and Ft Collins are starting to see an up tick in inventory in September. I feel this is due to the seasonal effects starting to take hold.
Bottom line...it's still a great time to buyer property in Northern Colorado.
|
Existing Home Absorption (months of inventory) |
||||
|
Market Area |
July 09 3-mo Avg |
Aug 09 3-mo Avg |
Sept 09 3-mo Avg |
|
|
Loveland /Berthoud |
6.79 |
6.26 |
7.17 |
|
|
Ft Collins/Wellington |
6.38 |
5.98 |
6.58 |
|
|
Greeley/Evans |
5.23 |
5.33 |
5.46 |
|
|
Windsor |
8.84 |
8.91 |
9.17 |
|
Rob Proctor, Broker - At Home Realtors, Loveland Colorado http://www.at-home-realtors.com
The third quarter is behind us and most of the market areas are still down in volume. Loveland resale market volume is down 4.5% compared to last year. Fort Collins is down 11.9%. Windsor has improved over year by 7.2%. Greeley's volume is down by 3.9% over last year.
Home prices although down in most areas, isn't as big a concern as it is elsewhere in the nation. We are seeing median home prices anywhere from being down 2.7% in Loveland, down 8.8% in Greeley, up 1.7% in Windsor, and down 3.1% in Ft Collins. The average home price is down across the board due to the purchasing activity of the first time home buyers. Most of the first timers are buying homes under $200,000 in Loveland, Ft Collins and Windsor. In Greeley the first time home buyers are buying below $180,000.
While new construction is still down, Greeley's new home sales are still rebounding, up 156%.
I glad I live here. The market is much more forgiving.
Rob Proctor - Broker, At Home Realtors http://www.at-home-realtors.com
Colorado does it again! I just read a couple of articles and found that Colorado registered high in two areas.
The first, Colorado is the 10th most popular place to move to. The US Census Bureau said that a 2008 American Community Survey showed that 4 percent of the population in Colorado lived in another state.
The other area is Forbes.com has given Colorado as the 4th best state for business up from no. 6 last year. The article goes on to say we are 1st for in the nation for labor supply (based on education, migration, population growth) and our economic climate is rated s number 5 in the nation. This has really help us weather through the recession.
We are ready to move forward and are putting this recession behind us!
Rob Proctor - Broker, At Home Realtors, http://www.at-home-realtors.com
For the year so far (January through August) we have seen 1386 existing homes sell in Fort Collins. Total sales dollar volume is $348,734,906 and the highest price home is $1,1325,000. The median sales price is $222,000 and the average price is $251,612
So what does all of this mean? Year to date, Fort Collins existing home market saw a 15 % decline in volume over same period last year. However the median home price only fell 3%. Dispite the decline in volume, prices are holding. Not bad considering.
Rob Proctor - Broker with At Home Realtors, http://www.At-Home-Realtors.com
I'm your home town real estate professional. Local independant realtor/broker serving Northern Colorado (Loveland, Fort Collins, Windsor, Wellington, Greeley, Berthoud, and Johnstown/Milliken).
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
