First quarter of 2011 is complete, and the results are a little surprising. However, it is too early to judge how the year will turn out. We need a couple more months before I will step out on that limb.
In Loveland, the existing home sales year to date is down 6.7% over last year. Fort Collins market is down 14.8% and Greeley/Evan's market has also decrease by15.1%. Windsor sales are flat.
Home prices are the brighter point of the first quarter. The median and average existing home price in Loveland is 0% and +5.0% respectively. Fort Collins saw -2.2% in the median however the average price rose +3.5%. For Greeley/Evans the prices declined 1% for the median and rose +1.6 % for the average price. Finally Windsor, the median and average prices declined 2.6% and average 2.2% respectively.
Single Family Homes (Existing Home market) Year to Date Numbers
|
Market Area |
Homes Sold |
Total $ Volume |
High $ |
Low $ |
Median $ |
Average $ |
|
Loveland-Berthoud |
222 |
$57,735,580 |
$1,100,000 |
$33,850 |
$205,512 |
$260,070 |
|
Fort Collins-Wellington |
350 |
$90,219,869 |
$1,450,000 |
$70,000 |
$219,950 |
$257,770 |
|
Greeley-Evans |
230 |
$32,035,668 |
$750,000 |
$20,000 |
$127,500 |
$139,285 |
|
Windsor |
57 |
$19,285,812 |
$803,262 |
$115,500 |
$311,000 |
$338,348 |
Rob Proctor, Broker w/ At Home Real Estate Company in Loveland Colorado
It is way too early to make a prediction on the Northern Colorado real estate market, however it is great when you see most of the market areas either up or flat to the first month of last year. Last year was somewhat biased do to the tax stimulus. This year the economic recovery will be in control.
Our market has the potential to swing up and to the right this year if the NASA aerospace and clean energy park locates in the old HP/Agilent buildings in Loveland. I heard somewhere that for every high paying job created, there will be a need for 2.5 service jobs. What a boost that will bring to the area.
January 2011 Existing Home Sales Stats for Northern Colorado
|
Market Area |
Homes Sold |
Total $ Volume |
High $ |
Low $ |
Median $ |
Average $ |
|
Loveland-Berthoud |
66 |
$18,308,038 |
$930,000 |
$85,000 |
$240,000 |
$277,390 |
|
Fort Collins-Wellington |
95 |
$24,276,114 |
$640,000 |
$71,500 |
$245,000 |
$255,540 |
|
Greeley-Evans |
58 |
$8,345,604 |
$570,000 |
$20,000 |
$129,900 |
$143,890 |
|
Windsor |
11 |
$4,707,762 |
$803,262 |
$140,000 |
$445,000 |
$427,980 |
Rob Proctor, Broker/Employing Broker w/ At Home Real Estate Co Loveland Colorado
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Rob Proctor - Broker, At Home Real Estate Company, Loveland Colorado
What a year! 2010 was the year of the tax break and record low mortgage interest rates.
I have put together a table that will help you see how 2010 ended up for residential single family homes (resale/existing and new construction) in the four market areas where I sell homes.
|
Market area |
Volume Resale |
Volume New |
Median $Resale |
Median $ New |
Avg $ Resale |
Avg $ New |
|
Loveland-Berthoud |
+ 2.4 % |
+11.7 % |
+ 7.1 % |
- 9.8 % |
+ 9.9 % |
-15.7 % |
|
Fort Collins-Wellington |
+1.8 % |
- 0.9 % |
+ 2.5 % |
- 9.8 % |
+1.8 % |
-10.9 % |
|
Greeley-Evans |
- 4.0 % |
- 46.3 % |
+0.0% |
+5.4 % |
+3.5 % |
- 8.2% |
|
Windsor |
+1.7 % |
+ 11.0% |
+18.4 % |
+ 5.7 % |
+ 8.7 % |
- 5.6% |
On the existing home front in 2010, Loveland/Berthoud was the winner with sales volume up 2.4%. Runner up is Ft Collins/Wellington +1.8% and Windsor right on the heels at +1.7%. The Median price winner for 2010 is Windsor with +18.4% and Loveland/Berthoud second place at +7.1%. For a second year in a row, low end inventory was reduced due to the government tax credits.
Foreclosures in 2010 still control the market. The biggest concern for 2011 is that there is a large inventory of foreclosed homes not on the market. This "Shadow Inventory" as it is called is controlled by mortgage companies and could have an effect on prices should it get forced on the market at a fast rate.
New construction is starting to see a little rebound in the Loveland/Berthoud and Windsor market. However, it is still a long way from being healthy. Back in 2009, Greeley/Evans led the way on new construction. But in 2010 that market fell by 46%. New construction pricing saw a pull back to a more affordable level in most markets in 2010.
Looking forward to a fantastic 2011!
Rob Proctor - Broker/Owner, At Home Real Estate Company, Loveland Colorado
http://www.AtHomeRealEstateCo.com
$164,900 MLS 645010
3010 N Colorado Ave., Loveland CO
Great location in Sunset Acres. With 2246 sq ft, this home has plenty of potential. Full basement (partially finished), wood floors under main floor carpeting, and a large back yard. Close to Loveland High and Lincoln Elementary. Newer forced air furnace, tile in the entry, and Central Air Conditioning.
Rob Proctor - Broker w/At Home Real Estate Company Loveland CO
http://www.AtHomeRealEstateCO.com/3010ColoradoAve
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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