For the first five months the Loveland CO resale market is a little mixed. The number of homes sold (511 homes). is up 4% when compared to last year.
However the median price is down 6% ($195,000) and the average price down 11% ($249,630). On the bright side, the median and average prices have improved since last month.
It is still a great time to buy and sell in Loveland. Our office had three listings in a row that were under contract in 40 to 50 days. When the average days on market is 127 days, that was fantastic and our Seller's loved it.
Rob Proctor Broker, At Home Realtors http:\\www.at-home-realtors.com
As we here all around the country of home prices dropping, the Fort Collins resale market is bucking the trend.
With five months under our belt, the Fort Collinsre-sale market prices are in the positive territory. When compared to the same time last year, the median price for a resale home is up 2% at $229,000. The average home is up 1% at $267,247. Considering the number of home sold is down some 14%, any positive on prices is fantastic.
Rob Proctor - Broker, At Home Realtors http:\\www.at-home-realtors.com
As other parts of the country are seeing declines in the real estate market, not so for thy ReSale market here in Loveland Colorado. With four months of 2008 complete, the resale market for single family homes is in positive territory comparred to last year. From January through April, the volume of resales reached 373 homes. This is a 7% increase over the same period in 2007. This is great news.
The median price is holding up better then the rest of the country too. At $195,000 this is only a 7% decrease. However, the average price has increased 2% over last year to $253,318.
So if you are waiting to buy that home in Loveland, you might want to think again as prices may be on the rise by the end of the year.
Rob Proctor - Broker, At Home Realtors http://www.at-home-realtors.com
If you haven't seen it yet. Northern Colorado has made the Forbes Best Places For Business And Careerslist. Specifically Fort Collins metro area (looks like it includes all of Larimer County) placed #3. Also Greeley place 57th on this top 200 list.
Despite all of the gloom and doom around the country, we are fortunate here in Northern Colorado. This is a great place to live and work. Just this week Woodward Governor Co. (Fort Collins and Loveland) announced that they are adding 100 new jobs in it's wind turbine production line.
2008 is going to be a great year.
Rob Proctor - Broker, At Home Realtors www.at-home-realtors.com
Well 2007 is in the books and the Loveland Colorado resale market is close to bottoming out. 2007 saw the number of homes sold decline only 3% over 2006. This is fantastic when you look back at how 2006 ended up.
The median sales price for the year ended at $208,000 down 4%. Unfortunately last year we saw an increase in median price. Considering what some of the other areas of the country are seeing, a 3% decline is just fine. The average sales price for the resale market also saw a 4% decline to $249,385.
There is definitely a glimmer of hope for 2008 in the Re-Sale market here in Loveland.
Now for New Construction. I wish these results were better. Loveland saw the new construction volume drop 34% over 2006.
However on the bright side of things, the median and average sale price increased 18 and 11 percent respectively. we are definitely seeing upper end home driving what new construction market we have. The median price for 2007 was $385,000 and the average price was $408,900.
Happy New Year!
Rob Proctor, Broker, At Home Realtors Loveland CO http://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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