The average purchase price of the homes sold (single family detached only) was:
Windsor: $359,902, low sale at $149,350, high sale at $940,000 Fort Collins: $345,764, low sale at $140,000 to high sale $,1,395,000 Loveland: $303,384, low sale at $90,000, high sale at $1,290,000 Greeley/Evans: $199,101, low sale at $54,401, high sale at $780,000
The number of properties that are currently on the market is as follows:
Fort Collins: 672 homes, 342 of those are not under contract Greeley/ Evans: 467 homes, 218 of which are not under contract Loveland: 424 homes, 245 of which are not under contract Windsor: 249 homes, or which 163 are not under contract
So what does this mean? Well one thing that you can gain from this report is something called "market velocity". Market velocity measures whether the market is speeding up...or slowing down. We get this figure by looking at available inventory and past sales.
Fort Collins: So in Fort Collins, in May, there were 268 home sales. There are 672 homes currently "Active" or available and of those 342 are not under contract. Given that the "demand" based on May's "consumption" was 268 homes in a month, we currently have 1.28 months of inventory if "consumption" stays the same.
Loveland: There were 121 sales in Loveland in May and 245 homes on the market...we have 2.02 months of inventory.
Greeley/ Evans: There were 167 sales in Greeley/ Evans in May and there are 218 homes on the market...we have 1.31 months of inventory.
Windsor: There were 60 sales in Windsor in May and there are 163 active properties...we have 2.72 months of inventory.
So what does that mean? That means that the most competitive marketplace right now is Fort Collins, followed by Greeley/ Evans and then Loveland and Windsor. It's a great time in all the cities to sell since inventory is low. It's a good time to purchase because pricing is trending up and we may also see interest rates start to rise as well. This evaluation was done using every price point....but some price points are more competitive than others. If you're considering purchasing you should have a market overview of your specific area that you're interested in, with the price range you're looking in so you can make the best informed decision about selling or buying.
I would be happy to do a market overview for you, just shoot me an email with your area and price point.
*Numbers taken from IRES, single family detached, off market date May 1st, 2014 through May 31st, 2014. These numbers do not include For Sale By Owner properties that did not have the listing in our Multiple Listing Service.
Author:Sarah Rowan Phone: 970-397-5774 Dated: June 2nd 2014 Views: 295 About Sarah: Sarah was a licensed real estate agent for 10 years before transitioning into the mortgage industry ...
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