Colorado Real Estate News

Northern Colorado Market Trends

The Frenzy for Attached Homes Slows in October

It’s becoming more and more clear that Northern Coloradans are growing weary of the hectic homebuying scramble, especially for attached properties.

Average Days on Market in October Increased Year-over-Year for All of Northern Colorado’s Attached Housing Markets Except Fort Collins and Timnath
Timnath didn’t have any closed sales while Berthoud’s attached market experienced a 604.65% increase from 43 days in 2020 to 303 days in 2021, and its detached housing market experienced a 3.37% increase from 89 to 92 days. During September 2021, only Boulder’s attached market experienced a year-over-year increase in average days on market.

Home Sales Decline in Northern Colorado

Closed sales were down year-over-year across all of northern Colorado, with Timanth’s attached market taking the lead down 100% from 7 sales to 0, and its detached market was in second place with a decrease of 80.85% from 47 days to 9.

Average Home Sale Price Increases Across Northern Colorado

Despite fewer homes selling, average sales prices have increased year-over-year across all of northern Colorado (with the exception of Timnath’s attached market). Berthoud’s attached market saw the largest year-over-year increase in average sales price of 92.39% from $309,800 to $596,017. Berthoud’s detached housing market experienced the second-largest increase in average sales price of 29.43%, from $544,798 to $705,141. Berthoud’s homes are taking longer to sell, and fewer of them are selling, but they are not going cheaply.

Timnath’s detached market saw the smallest year-over-year increase in average sale price of 7.15% from $695,271 to $744,959. Buyers need to act fast if they want to enjoy the lowest price increase in Timnath, as average days on market for detached homes dropped 48.25% from 91 days in 2020 to 47 in 2021.