The existing home market for Greeley and Windsor markets are mixed. With 10-months down, Greeley/Evans was leading the pack in prior months however is now down 4.8%. However th Windsor resale sales is now above last years sales by 110.4%.
Existing prices are, no surprise to anyone, down in most areas. The median price for Loveland/Berthoud is down 3.9%, Fort Collins/Wellington is down 3.5%, Greeley/Evans is down 5.9%, and Windsor is up at 1.9%. Here are the existing home year to date home sales.
|
Market Area |
Homes Sold |
Total $ Volume |
High $ |
Low $ |
Median $ |
Average $ |
|
Greeley/Evans |
1161 |
$160,302,663 |
$625,000 |
$8,500 |
$128,000 |
$138,073 |
|
Windsor |
254 |
$74,099,902 |
$1,075,000 |
$64,000 |
$242,500 |
$287,116 |
New construction continues to grow in Greeley (up 145% over last year) while other areas remain down. One thing to remember about new construction, it takes 90 to 120 days before we see a closing and it shows up in my numbers. Here are the new construction year to date numbers.
|
Market Area |
Homes Sold |
Total $ Volume |
High $ |
Low $ |
Median $ |
Average $ |
|
Greeley/Evans |
100 |
$20,065,882 |
$625,000 |
$114,000 |
$169,875 |
$200,659 |
|
Windsor |
70 |
$25,414,055 |
$1,050,000 |
$165,000 |
$300,000 |
$363,058 |
Rob Proctor - Broker, At Home Realtors, Loveland Colorado, http://www.At-Home-Realtors.com
I may sound like a broken record, however it is true. Homes are selling. The first-time homebuyers have gobbled up a lot of the under $200,000 homes. So much there has been a shortage and multiple offers have become the norm.
Re-sale homes for the Loveland/Berthoud market area is down 5.5 % over last year. The Fort Collins/Wellington market is down 9.4%.
Resale prices are, no surprise to anyone, down in most areas. The median price for Loveland/Berthoud is down 3.9% and Fort Collins/Wellington is down 3.5%, Here are the year to date totals.
|
Market Area |
Homes Sold |
Total $ Volume |
High $ |
Low $ |
Median $ |
Average $ |
|
Loveland/Berthoud |
1028 |
$239,475,418 |
$1,128,000 |
$21,100 |
$197,000 |
$232,953 |
|
Fort Collins |
1773 |
$446,967,757 |
$1,450,000 |
$30,000 |
$221,000 |
$252,097 |
New construction continues to lag last year. Here are the year to date new construction numbers.
|
Market Area |
Homes Sold |
Total $ Volume |
High $ |
Low $ |
Median $ |
Average $ |
|
Loveland/Berthoud |
106 |
$39,853,878 |
$999,999 |
$169,000 |
$354,000 |
$375,980 |
|
Fort Collins |
181 |
$67,077,692 |
$2,085,000 |
$50,000 |
$310,000 |
$370,595 |
Rob Proctor - Broker, At Home Realtors, Loveland CO 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 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
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).
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