Colorado Real Estate News

Northern Colorado Market Trends

2024 is here and the housing market is ready for action. Demand for housing in Colorado remains strong, which bodes well for the new year. However, after months of the market swinging towards more buyer-friendly, we are interested to see what lies ahead as housing experts suspect the pendulum is starting to come back towards sellers. December, however, followed what we tend to see in the market: a bit of a slowdown while families and friends get together and celebrate the holidays. 

In Fort Collins, residential real estate stayed right on course, with 102 detached homes sold, mirroring the previous month of 106. Attached homes also stayed on par with the previous month and nearly the same year over year at 41 versus 39 in 2022. The average sale price for detached homes in Fort Collins currently stands at $745,802, indicating a 14.84 percent increase since 2022. With the holiday season it’s really no surprise but sellers also noted another uptick in the average days on the market to round out the year, reaching 65 from 59. Attached homes, meanwhile, saw a pretty dramatic decrease year-over-year in average days on the market from 102 in 2022 to 71 in December 2023. All in all, total closed sales volume was unsurprisingly a whopping 39.45 percent higher than the previous December 2022 from $54,549,616 to $76,071,832 at the end of 2023.

Loveland followed a path of its own during the final holiday month, witnessing a slight decrease in detached home sales from 70 to 62 month-over-month, but experiencing an 23.30 percent decrease in the closed sales volume to $34,553,865 from $45,051,245 in December, 2022. However, the average sales price wasn’t much to bat an eye at, decreasing from $585,081 to $557,337, an only 4.74 percent drop year-over-year.

Boulder, recently named one of the most peaceful places to live, stands out with its jump in attached home sales of 27.03 percent year-over-year in December, from 74 to 94. Closed sales volume in the attached sector also shot up 17.84 percent last month to $50,238,370, reflecting people’s  increased interest in buying in the attached arena. Boulder’s desirability remains evident in that it almost always reflects an increase in detached closed sales volume with last month being no different, showing that the holiday season doesn’t really affect this mountain city. Closed volume sales in the detached category rose 4.16 percent to $173,116,872. Days on the market remain consistent with recent trends at 79.

Last but certainly not least, Berthoud chose to represent the typical December trend of slowing down so people can celebrate the holidays. Closed sales were down in both detached and attached sectors, at 10.34 percent in detached and 66.67 in attached, though we should note that is only the difference between 6 in 2022 to 2 in 2023, which explains the staggering number. Overall, closed sales volume in detached was down 20.81 percent and 73.42 percent in attached. 

“In the dynamic landscape of Colorado’s housing market, 2024 brings much anticipation as the pendulum shifts back towards sellers,” said Sarah Tyler, Managing Broker at Kentwood Real Estate Northern Properties. “Fort Collins maintains stability with increased sale prices, while Loveland experiences a slight dip and Boulder sees a surge in attached home sales. Buyer-favorable conditions may shift shaped by evolving dynamics and persistent low inventory levels.”

Over the past 12 months the market has tilted in favor of buyers. Seller concessions have played a key role in incentivizing buyers; while new listings have decreased year over year, and sales have slightly slowed. However, with the convergence of interest rates drops and the persistent, continued low inventory levels, and 2023 being recorded as the slowest year for US home sales in nearly 30 years, the market is reshaping real estate once again. This time, it will likely again place buyers on the back foot, making 2024 another busy year ahead.

*Updated January 19, 2024 

Colorado Real Estate News

Northern Colorado Market Trends

As the holiday season takes over December in its festive spirit, it presents an opportune moment for homeowners and buyers in North Colorado. Currently, buyers wield more influence than they did in 2022. Further reductions in interest rates combined with limited inventory could swiftly tip the scales back to favoring sellers. The signs are evident as homes start to again attract multiple offers, a trend expected to intensify in the coming year with the projected low inventory and continued lower interest rates in 2024. Sellers, in particular, can redefine their outlook as they prepare to enter the market, recognizing that a swift sale is excellent, but a more extended timeframe is also not a bad reality in the current market dynamics.

In Fort Collins, the real estate landscape reflects resilience, with 106 detached homes sold, mirroring the previous month. Attached homes, in contrast, experienced a substantial year-over-year increase, rising from 36 to 49 units sold. The average sale price for detached homes in Fort Collins currently stands at $625,921, indicating a slight dip from the previous month. Sellers are also noting another uptick in the average days on the market, reaching 59. Attached homes emerged as the market winners last month, boasting a closed sales volume of $19,922,368, a remarkable 21.91 percent increase from the previous year.

Loveland follows a similar trajectory on par with the holiday months, witnessing a decrease in detached home sales from 102 to 70, yet experiencing an 18.17 percent surge in the average sales price to $637,893. The average percent of the original list price for detached homes remained relatively steady at 96.3 percent compared to the previous year’s 95.4 percent.

In the scenic town of Windsor, there was a November decline in closed sales volume. The average days on the market for detached homes rose by 9.84 percent, a moderate increase. Despite a slight decrease in the average detached home price to $751,162, Windsor continues to showcase resilience with a 2.18 percent increase in number of closed sales for detached homes.

Boulder, as almost always, stands out with a 13.64 percent increase in closed detached sales despite a 2.66 percent decrease in overall closed sales, which includes attached homes. The enduring desirability of Boulder is evident in the impressive 13.64 percent rise in average closed sales volume for detached homes. Days on the market remain consistent with recent trends at 67, with a 26.42 percent increase year-over-year.

As Northern Colorado maneuvers the 2024 real estate landscape, the key for both buyers and sellers lies in adaptability and strategic decision-making. In this environment, opportunities abound for those who take the time to understand and respond to the changing rhythms of the market.

“In Northern Colorado’s dynamic real estate market, buyers have recently seen opportunity for negotiation in some communities, but a shift towards sellers is imminent with falling interest rates bringing out more buyers and continued limited inventory,” said Sarah Tyler, Managing Broker at Kentwood Real Estate Northern Properties. “As 2024 approaches, adaptability and strategic decision-making are crucial for both buyers and sellers to capitalize on the evolving market opportunities.”

*Updated December 15, 2023 

Colorado Real Estate News

Northern Colorado Market Trends

Our somewhat unpredictable real estate market of the past year is finally starting to see more predictability.  October 2023 in Northern Colorado brought a departure from the pandemic-induced frenzy that characterized recent years. Sellers, who once reveled in the luxury of multiple offers soaring prices above asking now find themselves in a more balanced market.

The days of intense competition for many NOCO homes appear to be waning, prompting sellers to adopt new strategies for success. To stay competitive, sellers in the region are advised to consider offering concessions and obtaining pre-inspection reports, while addressing any necessary fixes before listing their homes. It’s a strategic move in a market that requires a more nuanced approach.

Sarah Tyler, Managing Broker at Kentwood Real Estate Northern Properties, commented “The real estate market in Northern Colorado is showing signs of recalibration. It’s a time for sellers to be strategic in their approach to selling.”

In Fort Collins, the rhythm of home sales saw the typical seasonal slow down in October, with 109 detached homes sold. Attached homes, maintained a steady pace with a 4.4 percent increase from the previous year. The average sale price for detached homes in Fort Collins now stands at $646,562, reflecting a 6.81 percent decrease from 2022. Sellers are also witnessing an increase in the average days on the market, reaching 51—an indicator of buyers displaying newfound patience in this evolving market.

Loveland, too, echoes the trend, with a decline in detached home sales from 92 to 75. The average sales price saw a 3.80 percent decrease to $562,653, while the average percent of the original list price for detached homes remained relatively neutral compared to the previous year. The housing market in Loveland appears to be aligning with the broader seasonal shift.

Nestled near the Front Range of the Rocky Mountains, Windsor joined the chorus of Northern Colorado cities experiencing an October softening. The average days on the market for detached homes increased by 25 percent, signaling the influence of the holiday season. The average detached home price dipped slightly to $685,475, marking a year-over-year decrease of 6.53 percent. Despite a modest increase of 6.12 percent in closed sales for detached homes, Windsor reflects the general trend of a market in rebalance.

Boulder, however, came across as an outlier last month, bucking the regional trend with a 12.44 percent increase in closed detached sales. A total of 235 homes were sold in October, compared to 209 the previous year. The average closed sales volume for detached homes soared by an impressive 23.47 percent, underlining the enduring desirability of Boulder in the real estate landscape.

Amidst these shifts, the broader housing market is also influenced by external factors, such as mortgage rates. A recent drop in mortgage rates, attributed to a bond market rally following a lower-than-expected monthly inflation report, has sparked a spike in mortgage demand. Nationwide applications to refinance a home loan increased by 2 percent in one week in early November,  indicating a positive turn for recent  homebuyers seeking to refinance in today’s high-rate climate. As Northern Colorado navigates the evolving real estate landscape, adaptability and strategic decision-making will be key for both buyers and sellers. Opportunities abound for those who can read the rhythms of change.

*Updated November 16, 2023 

Colorado Real Estate News

Northern Colorado Market Trends

September 2023 in the Northern Colorado housing market brought us new statistics that continue to highlight how attractive NoCo is for potential buyers. In news reported by At Home Colorado, Boulder and Fort Collins ranked in the top 5 for best housing markets for growth and stability. Meanwhile, four of the five most expensive “non-coastal” metros are now in Colorado, according to Builder.com, with Denver ranking highest (no surprise!) and Boulder, Fort Collins and Greeley all topping the charts. So, what happened this past month in our NoCo market?

The market continued to cool, rebalancing itself in ways we haven’t seen in years, which is a much-needed refresh for those looking to relocate to NoCo and have the luxury of time to do so. In Fort Collins, home sales continued to drop from 170 in 2022 to 133 detached sales last month, lower than the month prior at 159. Attached homes were in the same boat, decreasing from 55 in 2022 to 44 in September, an overall 20 percent decline. The current average sale price in Fort Collins now stands at $682,735, which is higher than last month’s $662,458, but down very slightly at .10 percent from the year prior. The same goes for the average percent of original listing, which also found itself .20 percent down from last year at 97.2 percent. Up, however, was the average days on the market which stood at 53 this month, a 26.19 percent increase from last year’s craze, indicating again that buyers are taking their time to make decisions.

Moving onward to Loveland, the situation in the housing market also pointed towards more cooling of the market, with 92 detached homes being sold last month in comparison to the 129 in 2022, a 28.68 percent decrease. However, the average sales price upticked at 2.71 percent to $612,396, and the average percent of original list price stayed nearly neutral with last year’s at only a .72 percent decline. Loveland is, by all accounts, still an attractive city to many people looking for an alternative to the more expensive locations in Northern Colorado.

Nestled near the Front Range of the Rocky Mountains, Windsor followed suit with other NoCo cities with the average days on the market increasing a whopping 30.95 percent, a signal of the changing seasons and general cooling in the market. The average detached home price rose slightly from last year to $713,479. a year-over-year increase of 1.19 percent. Closed sales in the detached market were down by only 2.33 percent in September, totaling 42. Meanwhile, the attached market again saw a relatively consistent performance with 16 sales in September 2023, compared to 10 in 2022.

Boulder unsurprisingly saw a similar trend, aligning with the broader market’s balancing act. Closed detached sales were down by 25.57 percent, which was more than last month’s 15.77 percent, with the average sales price experiencing a dip from last month as well from $1,054,899 in August 2023 to $1,021,872.

“The Northern Colorado housing market demonstrates the allure of NoCo for potential buyers,” said Sarah Tyler, Managing Broker at Kentwood Real Estate Northern Properties. “With top rankings in growth and stability, our region continues to shine. The market is always evolving and is currently offering a refreshing change for those considering moving to Northern Colorado.”

Overall, the real estate landscape continues to evolve and balance from the craze of the pandemic years. Over the past seven months, inventory has been steadily increasing in Colorado, which means more options for buyers. Yet, the data reflects that demand is softening and will likely continue to soften as we embark on the holiday season ahead of us. 

*Updated October 17, 2023 

Colorado Real Estate News

Northern Colorado Market Trends

August 2023 brought us a predictable end-of-summer-slow down last month, though the dynamics in the real estate market are shifting due to certain key factors. High interest rates haven’t necessarily resulted in a massively decreased number of buyers in the market, but those who are looking to purchase are becoming more discerning.

In Fort Collins, home sales dropped from 186 in 2022 to 159 detached sales last month. However, attached homes bucked this trend, increasing from 58 to 68 in August compared to the previous year. While Fort Collins continues to see slight appreciation in median detached home prices, it’s at a reduced rate of 3.71 percent this month, signaling a change. The current average sale price in Fort Collins now stands at $662,458, making it an attractive option for those looking to escape the bustling Denver area. The average percent of the original listing price remains just below 100 percent in the detached market, maintaining a sense of equilibrium. The average days on the market for detached homes increased slightly to 47 days, up from the previous month’s 44 and the prior month’s 43, reflecting a 23.68 percent rise—an indication that buyers are taking their time to make decisions.

Moving over to Loveland, there’s been a slight increase in activity this month with 121 detached home sales compared to 96 the previous month. However, this remains lower year-over-year by 10.37 percent from 135. The average sales price for detached homes dropped by 6.90 percent year-over-year, now standing at $562,075. Average days on the market trended downward to 49, a slight decrease from the previous month’s 52.

In Windsor, nestled near the Front Range of the Rocky Mountains, the average home price dipped slightly to $660,470, indicating that buyers are still interested but proceeding with caution. Closed sales in the detached market were down by 10.77 percent in August, totaling 58. Meanwhile, the attached market saw a relatively consistent performance with 13 sales in August 2023, compared to 16 in August 2022.

“In this shifting market landscape, discerning buyers are taking center stage,” said Sarah Tyler, Managing Broker at Kentwood Real Estate Northern Properties. “As Northern Colorado real estate is witnessing a rebalancing act, it’s encouraging to see the stability nurturing a more sustainable dynamic.”

In Boulder, which remains a highly sought-after place to live, we see a similar trend, aligning with the broader market’s balancing act. Closed detached sales were down by 15.77 percent from the previous year, with the average sales price experiencing a slight dip of 3.85 percent, down from $1,097,190 in 2022 to $1,054,899 in 2023.

Sellers are adjusting their expectations to strike a balance between supply and demand. The market isn’t witnessing the skyrocketing prices of the previous year; instead, a greater number of homes are changing hands close to list price, creating a more buoyant atmosphere in the market. The increase in median prices, while noteworthy, is largely driven by mathematical factors rather than actual home price appreciation, a positive aspect of the current market dynamics. When the statistical pool is small, the mix of homes that sell can impact the averages, with larger swings month over month.

Overall, the real estate landscape is evolving, with buyers gaining more influence due to high rates. Sellers are adapting, resulting in a more balanced market. It’s important to note that while median prices are rising, it’s not necessarily indicative of significant home price appreciation. If you’re seeking guidance on navigating Northern Colorado real estate, Kentwood Northern Properties is here to guide you through these nuanced market patterns, ensuring informed decisions.

*Updated September 15, 2023

Colorado Real Estate News

Northern Colorado Market Trends

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.

Colorado Real Estate News

Northern Colorado Market Trends

The Northern Colorado market continues to respond to economic factors in July.
The data confirms that the Denver Metro area is no longer in a shifting market; it has indeed shifted. Compared to last July, inventory has gone up which is why we are seeing more price reductions.


Fort Collins detached homes sale volume decreased by nearly 30 percent in July.
In comparison to 2021, that is a 28.41 percent decrease from $158,120,824 to $113,202,431 in July 2022. 168 detached homes were sold in July 2022 compared to 265 in 2021, a 36.60 decrease. Attached home sales were also significantly down from the previous year, from 90 in July 2021 to 55 this year, a 38.89 percent decrease overall with the sales volume decreasing 32.33 percent from $32,975,902 in 2021 to $22,314,726.


Berthoud experienced a significant increase in their detached homes price average.
At $739,843 in July 2022, versus $712,956 in June 2022, this was a 28.91 percent increase from July 2021 when it was $573,926. Attached homes, meanwhile, also experienced an increase in total sales volume from $1,792,000 in 2021 to $2,707,300 this month.


Meanwhile, Timnath saw another substantial decrease year-over-year in detached homes sold.
Following a month-to-month trend, Timnath’s detached market went from 32 homes sold in July 2021 to 14 homes in July 2022, a 56.25 percent decrease. In its attached market, however, Timnath experienced an increase at 5 versus 2 in July 2022, a 150.00 percent increase.


Boulder saw a substantial decrease in sales volume year-over-year, showing the changing market.
In the detached market, the total July sales volume went from $210,492,952 in July 2021 to $113,881,584 in July 2022, a
decrease of 45.90 percent. The condo and townhome attached market saw a decrease in sales of 33.71 percent from 89 in July 2021 to 59 this month.


Loveland saw an increase in detached average home sales.
In Loveland’s detached market, residents saw 124 sales in July 2022 versus 193 in June 2021, a 35.75 percent increase, with the average sales price for a detached home climbing from $533,186 to $659,536.

*Updated August 6, 2022.

Colorado Real Estate News

The Housing Market Is Not “Melting Down”

The media loves hyperbole. I can relate, real estate agents do too. Some of the same instinct toward flowery language when selling a home rests with headline writers and journalists.

This week I’ve seen dozens of headlines about the housing market “meltdown,” “crash” and “implosion.” Nowhere to be seen is sensible language describing what’s really happening. A recalibration, normalization, cooling trend. The U.S. housing market during the back half of 2020 and into 2021 was unsustainable. Anyone who suggests that was normal, good, or a permanent future for the market wasn’t paying attention to the difficulties all players had navigating the heady days of the early 20’s.

Normal is the New Normal
With inventory rising, buyers can finally, sensibly, request an inspection and an appraisal. Sellers who overprice their homes are faced with adjusting to the market and calculating whether their house will appraise so their buyer can obtain financing.

Buyers can take a breather and make sure they’re making the right decision for their lifestyle, their family and their work situation. They can be reassured that they’ll have more than 10 minutes inside the property and can actually spend additional time with an inspector making sure any evident issues are ones they want to take on or ask the seller to repair.

Buyers have more homes to view! Lines of buyers and their brokers out the front door and down the sidewalk are gone. Thankfully.

Higher Rates = Fewer Wars
As in fewer bidding wars. Many buyers are telling our Kentwood brokers that while they wish rates were like January 2022, they’re happy not to bid $50,000 – $100,000 over list on their 5th offer to get into a home. They can lock a rate and know what they’ll pay; appraisal gaps are becoming so yesterday. Any cash that would have covered a low appraisal can go toward home upgrades, furnishings or repairs.

Do you remember what the interest rates were in 2018? The average that year was 4.54%, but they got up to 5%. Not altogether that far off the rates today as I write this. Again, 2020 and 2021 were not usual or customary, they were a reaction to a once in a lifetime black swan event.

Deceleration Does Not Equal Depreciation
Over the last month Metro Denver and the Front Range of Colorado have increased available inventory from 2 weeks of inventory to one month. We’re still selling through nearly every home that comes on the market in one month or less! I know to home sellers this feels interminable. Yet, it’s not enough inventory to signify a buyers’ market. We need three more months available inventory on top of the one month today to be a balanced market. I sold real estate in a buyers’ market, it’s not the end of the world. It’s just a different set of facts driving life decisions.

Home price appreciation will decelerate. To the homeowners out there, it’s not likely you’ll witness 16-18% annual appreciation again soon. It was a nice wave to ride. You will continue to benefit from lesser appreciation. Likely 6-8% this year and next.

To the buyers waiting on the sidelines for real prices to come down, it will be a wait. Possibly a long wait. Current price reductions of listed properties are those folks adjusting to the reality of the market recalibration, people who didn’t get their pricing right out of the gate. Not depreciation of market value.

Selma Hepp, Deputy Chief Economist at CoreLogic, explains that the housing market will see deceleration, but not depreciation, in prices:

“The current home price growth rate is unsustainable, and higher mortgage rates coupled with more inventory will lead to slower home price growth but unlikely declines in home prices.

Home Builders are Pulling Back
Home builders are in the projection business and if they don’t project their inventory will sell, they’ll pull back from building more until it does. They’re in the supply and demand business. As interest rates went up, buyers in long term contracts to build a new home naturally got nervous about where their rate might be in 6 – 8 months and many pulled out. The cascade effect means builders are focused on selling their current inventory before building more. They’re offering incentives and reducing prices. The reduction in new home construction, even if short-term, will mean resale inventory is still a sought after commodity.

Final Thoughts
Whether you’re looking to buy or sell a home, reading past the headlines and hyperbole is key. Having an experienced Kentwood Real Estate Broker who knows what’s happening in the housing market can help you make an informed decision. Other team members who will be valuable as you go through the process: Prosperity Home Mortgage and HomeServices Insurance. Our partners who we trust to help you dissect the news and apply it to your life decisions.

At Kentwood we believe in community. That we accomplish more together. That deep roots matter. We inspire people to imagine the next steps in their life journey.

Written By
Gretchen Rosenberg, President & CEO of Kentwood Real Estate

Colorado Real Estate News

A LOOK INSIDE A U.S. LUXURY FIRM: COLORADO’S KENTWOOD REAL ESTATE

A Look Inside a U.S. Luxury Firm: Colorado’s Kentwood Real Estate
Graphic credit: RISMedia

From Gretchen Rosenberg:

Many luxury consumers have purchased their dream home in the past 24 months and have also purchased second and third homes. They may be content to enjoy those homes for now, and step aside from trading real estate while they see how the economic transition shakes out. Luxury sellers will need to carefully present their homes as beautiful spaces and price them more aggressively than they would have in 2021. Time on market will increase. The luxury market waxes and wanes like any market, but not always in tangent with mid- and entry-level home markets. Luxury will always have a place, and luxury consumers love beautiful statement homes.

At Kentwood over the past two years we’ve seen an average of 20-25% of our sales be cash, month in and month out. These are buyers who have big jobs and saved, inherited wealth or traded equities for a real estate investment. We don’t anticipate this to dramatically change for two reasons: if price increases flatten or decline, buyers will want to “buy the dip” knowing that long term, real estate will remain a good investment; and as the equities markets correct, more people are cashing out and will want a place to invest that cash.

Luxury consumers’ demands have increased since the pandemic. They expect the highest service and immediate attention. Service providers in the luxury space who anticipate customers’ needs and address them proactively will create long-term relationships and loyalty.

Luxury is a large amount of sales volume, but it’s a smaller percentage of annual sales. While we anticipate the real estate markets to cease being such an insane buyer’s market, we don’t anticipate a pendulum swing over the next few months to be an extreme buyers’ market. We anticipate a shift to more balance, more time on market (one weekend was uncomfortably fast for buyers to make a decision) and more negotiating from both sides.

From Dierk Herbermann:

While there may be a shift in the luxury market in most other major metros, we are not seeing that impact in the Denver Metro region yet. Through May we have closed 33% more luxury listings (over $1 million) with an increase of price per square foot of 8.7% and sales prices at an average of 5.2% over the list price.

While it is too early to tell what true impact the increased mortgage rates will have on the luxury market looking at the first half of June where 104 new listings over $1.8 million have hit the market, over half of those listings are already under contract (66). We are starting to see some price reductions, but of the 75 luxury listings (over $1.8 million) that have closed since June 1, only 10 of those were at a price below the list price.

Colorado, and the Denver Metro market in particular, continue to experience an influx of companies from California, New York, and Europe looking for our educated and talented workforce, relatively affordability and lifestyle. As was the case during the 2007-8 recession, this will help to insulate the Denver Metro Area from the downward housing pressures that were experienced in most of the U.S. While there will be some decrease in demand and potential price corrections in certain areas, we feel that Colorado will continue to be a strong luxury market.

*Originally published by RISMedia July 12, 2022

Colorado Real Estate News

Northern Colorado Market Trends

The Northern Colorado market continues to react to economic factors in June.
Fort Collins saw the most inventory on the market since September 2020, suggesting buyer demand has decreased a bit in the current climate.

Fort Collins detached homes sold for a record-high median price of $720,960.
In comparison to 2021, that is a 24.30 percent increase, up from $580,015. Fort Collins detached homes on average sell after 32 days, which is not much from this time last year when it was 26 days on the market but is a lagging indicator that suggests days on the market will grow. 226 detached homes sold in June, down from 266 last year, however, the sales volume was up 5.61 percent. Attached homes in Fort Collins saw a similar story, with 81 condo and townhome sales in June versus 123 in June 2021, down 34.15 percent.

Berthoud saw a significant increase in their detached homes price average.
At $712,956 in June 2022, this was a 24.59 percent increase from 2021 when it was $572,224. Likely impacting this
number some is that 52 detached homes were sold in June 2022 versus 45 in June 2021.

Meanwhile, Timnath saw another substantial decrease year-over-year in detached homes sold.
Timnath’s detached market went from 42 homes sold in June 2021 to 21 homes in June 2022, a 50 percent
decrease. In its attached market, however, Timnath experienced a substantial increase at 11 versus 1 in June 2022, a 1000 percent increase. All together, Timnath had 32 total sales for the month.

Boulder saw a substantial decrease in sales volume year-over-year, signifying the changing market.
In the detached market, the total June sales volume went from $218,473,943 in June 2021 to $161,868,300 in June
2022, a decrease of 25.91 percent. The condo and townhome attached market saw a decrease in sales of 23.16 percent from 95 in June 2021 to 73 this month.

Loveland saw a decrease as well in detached average home sales.
In Loveland’s detached market, residents saw 160 sales in June 2022 versus 205 in June 2021 with the average sales price for a detached home climbing from $515,779 to $585,152.

*Updated July 8, 2022.