The Northern Colorado market continues to show a seasonal adjustment amidst economic factors.
The data continues to confirm that the Northern Colorado area has shifted to a much-needed and more even playing field. Compared to last August, inventory continues to go up and the northern market continues to see price reductions.
Fort Collins detached homes sale volume decreased by 13.41 percent, keeping with the trend of the last few months.
In comparison to 2021, the decrease went from $126,426,514 to $109,470,816 in September 2022. However, 161 detached homes were sold in September 2022 compared to 215 in 2021, a 25.12 percent decrease. Attached home sales were also significantly down from the previous year, from 88 in September 2021 to 54 this year, a 38.64 percent decrease overall with the sales volume decreasing 25.04 percent from $29,935,459 in 2021 to $22,439,395.
Berthoud, on the other hand, experienced a slight increase in their detached homes price total sales.
At $21,062,909 in September 2022, versus $22,366,438 in September 2021, this was a 6.19 percent decrease. The average sales home price increased significantly as well, at 28.94, from $619,497 last year to $798,801. Attached homes, however, experienced a dramatic decrease in total sales volume from $2,250,000 in 2021 to $434,000 this month due to only one attached sale for the month.
Meanwhile, Timnath saw a substantial increase year-over-year in detached homes sold.
Bucking a month-to-month trend, Timnath’s detached market went from 17 homes sold in September 2021 to 21 homes in September 2022, a 23.53 percent increase. In its attached market, Timnath also experienced a dramatic increase from 0 in 2021 to 8 in September 2022.
Boulder saw a massive increase in detached sales volume year-over-year while seeing a decrease in detached home sales.
In the detached market, the total September sales volume went from $16,590,706 in September 2021 to $111,755,188 in September 2022, an increase of 573.60 percent. However, the attached market saw a decrease in sales again from 80 in September 2021 to 56 this month.
Loveland saw another decrease in detached average home sales.
In Loveland’s detached market, residents saw 168 sales in September 2022 versus 125 in September 2021, a 25.60 percent increase, with the average sales price for a detached home increasing from $564,364 in 2021 to $596,663.