Stat of the Month

Wooden Bridge Through Autumn Woods

We just completed a review of the September numbers in our market.

Here is the one number that is standing out to us – average price.

Prices are way up over last year.  Here are the specific average price increases in each of our markets compared to September 2019:

  • Metro Denver = 13.2%
  • Larimer County = 16.9%
  • Weld County = 7.4%

This change in prices has of course generated questions from our clients.

To help our clients answer questions about prices and other real estate topics, we have set up a private online event with our Chief Economist Matthew Gardner.

The event is set for Tuesday from 9:00 to 10:00.

Simply reach out to any Windermere broker to receive your registration link.

Matthew will be addressing these questions as well as many others:

  • What effect will the election have on the economy and on real estate?
  • How long can interest rates stay this low?
  • Can prices keep appreciating at their current pace?

This online event is for the clients and friends of Windermere.  If you would like to register, please connect with your Windermere broker.

Posted on October 2, 2020 at 7:40 pm
Meaghan Nicholl | Category: Colorado Housing, Economics 101, Fun Facts | Tagged , , , , , , , , , , , , , , , ,

6 Million

Based on the numbers through August, we are now on pace to sell 6 million homes.  This is the highest pace we have seen in 14 years.

The 6 million threshold is a big deal in the real estate brokerage world.

Each month, as they have for a long time, the National Association of Realtors tracks the sales and then calculates the annualized rate of residential closings.

For many, many years this number has bounced around 5.5 million.  The fact that it just jumped to 6 million speaks to many factors especially the effect of today’s interest rates.

running

At Windermere Real Estate we are taking Safer at Home and Social Distancing very seriously.  Our people are following our Safe Showings protocol, staying connected to their clients, and providing help wherever needed.

Posted on September 25, 2020 at 12:00 pm
Meaghan Nicholl | Category: Blog, Fun Facts, Windsor Real Estate | Tagged , , , , , , , , ,

6 Million

Based on the numbers through August, we are now on pace to sell 6 million homes.  This is the highest pace we have seen in 14 years.

The 6 million threshold is a big deal in the real estate brokerage world.

Each month, as they have for a long time, the National Association of Realtors tracks the sales and then calculates the annualized rate of residential closings.

For many, many years this number has bounced around 5.5 million.  The fact that it just jumped to 6 million speaks to many factors especially the effect of today’s interest rates.

running

At Windermere Real Estate we are taking Safer at Home and Social Distancing very seriously.  Our people are following our Safe Showings protocol, staying connected to their clients, and providing help wherever needed.

Posted on September 24, 2020 at 12:00 pm
Meaghan Nicholl | Category: Blog, Fun Facts, Windermere Real Estate | Tagged , , , , , , , , ,

Forbearance Falls

This is good news for the real estate market.

Less and less people are seeking payment relief on their mortgages.

The number of loans currently in forbearance stands at 7.16%.

This news coincides with the U.S. Unemployment Rate falling to it’s lowest level in 5 months as more people are getting their jobs back.

The economy has added back roughly half of the 22.2 million jobs that were lost in March and April of this year.

waterfall

At Windermere Real Estate we are taking Safer at Home and Social Distancing very seriously.  Our people are following our Safe Showings protocol, staying connected to their clients, and providing help wherever needed.

Posted on September 23, 2020 at 12:00 pm
Meaghan Nicholl | Category: Blog, Fun Facts, Windsor Real Estate | Tagged , , , , , , , , , ,

Pendings are Popping

Typically the market starts to slow down a bit in the Fall after a hot Spring and Summer.

Not this year.

The indicator we use to measure future closed sales is current pending sales.

Simply, we look at the number of properties under contract and scheduled to close versus the same time last year.

Current pending sales are way up along the Front Range when measured against 2019:

 

Metro Denver up 34.1%

Larimer County up 48.6%

Weld County up 50.2%

Based on these numbers, closed sales numbers over the next 60 days will be very strong.

bubbles

At Windermere Real Estate we are taking Safer at Home and Social Distancing very seriously.  Our people are following our Safe Showings protocol, staying connected to their clients, and providing help wherever needed.

Posted on September 19, 2020 at 12:00 pm
Meaghan Nicholl | Category: Blog, Fun Facts, Windermere Real Estate | Tagged , , , , , , , , , , , , ,

New Home Surge

The annualized rate of single-family new construction homes is now at 901,000 according to the new Census Bureau report.

This means that across the U.S., at the current pace of sales, there will be almost 1,000,000 new homes built and sold over the next 12 months.

This pace is 36% higher than one year ago and the highest it has been since the end of 2006.

Given the low inventory levels of previously-owned homes that most of the Country is experiencing, this uptick in new home activity is welcome news.

new home

At Windermere Real Estate we are taking Safer at Home and Social Distancing very seriously.  Our people are following our Safe Showings protocol, staying connected to their clients, and providing help wherever needed.

POSTED ON SEPTEMBER 4, 2020 AT 6:37 PM
WINDERMERE WINDSOR | CATEGORY: BLOGFUN FACTSWINDERMERE REAL ESTATE 
Posted on September 18, 2020 at 12:00 pm
Meaghan Nicholl | Category: Blog, Fun Facts, Windermere Real Estate | Tagged , , , , , , ,

New Home Surge

The annualized rate of single-family new construction homes is now at 901,000 according to the new Census Bureau report.

This means that across the U.S., at the current pace of sales, there will be almost 1,000,000 new homes built and sold over the next 12 months.

This pace is 36% higher than one year ago and the highest it has been since the end of 2006.

Given the low inventory levels of previously-owned homes that most of the Country is experiencing, this uptick in new home activity is welcome news.

new home

At Windermere Real Estate we are taking Safer at Home and Social Distancing very seriously.  Our people are following our Safe Showings protocol, staying connected to their clients, and providing help wherever needed.

Posted on September 8, 2020 at 4:38 pm
Meaghan Nicholl | Category: Blog, Fun Facts, Windermere Real Estate | Tagged , , , , , , ,

At Least List

 

It answers this question – how many properties are selling for at least list price (asking price or higher)?

 

This stat tells us how active the market is and helps our buyers to realize that, in some cases, they will be in a competitive situation.

 

When we look at single-family home sales so far this month, this is what we find:

  • 57% of properties in Larimer County sell for at least list price
  • 62% of properties in Weld County sell for at least list price

So, in well over half of the transactions, buyers need to offer list price or higher to acquire the property.

 

The data gets even more interesting when this information is broken out by price range.

 

To no one’s surprise, the percentage increases for properties priced under $400,000:

  • 81% in Larimer County
  • 70% in Weld County

We find that for properties over $400,000 the percentages still tell a story of a very active market:

  • 47% in Larimer County
  • 56% in Weld County

Bottom line, in most locations and price ranges we see a strong sellers’ market where buyers need to be prepared to make a strong offer and to also compete.

tug of war

At Windermere Real Estate we are taking Safer at Home and Social Distancing very seriously.  Our people are following our Safe Showings protocol, staying connected to their clients, and providing help wherever needed.

Posted on September 7, 2020 at 12:00 pm
Meaghan Nicholl | Category: Blog, Fun Facts, Windsor Real Estate | Tagged , , , , , , , , , , , , , ,

Rebound

The Case-Shiller Home Price Index tracks appreciation in the 20 largest real estate markets across the U.S.

Their most recent quarterly report was just released this week.

Metro Denver prices are up over last year by 3.89% which is just slightly higher than the average of the 20 markets.

It is interesting to see how the 20 locations have performed since the pre-Great Recession housing peak.

Turns out that Denver has done the best out of all the markets.

Since 2008, Denver home prices have appreciated 64.9%.  Second-best is Dallas at 55.5% and Seattle is third at 41.2%.

Believe it or not, there are markets where average home prices have still not returned to their 2008 levels.

Las Vegas is 14.5% below 2008 and Chicago is 12.8% below.

These numbers are another indicator of the long-term health and performance of the Front Range market.

Basketball

At Windermere Real Estate we are taking Safer at Home and Social Distancing very seriously.  Our people are following our Safe Showings protocol, staying connected to their clients, and providing help wherever needed.

Posted on September 3, 2020 at 7:47 pm
Meaghan Nicholl | Category: Blog, Fun Facts, Windsor Real Estate | Tagged , , , , , , , ,

Spring in Summer

This year the Spring market is occurring in the Summer.

Typically the busiest months for real estate along the Front Range are April, May and June.

This year, because showing activity was restricted in the Spring months, we are seeing robust activity this Summer.

Here’s an indicator.  Sales through July 2020 versus July 2019 are up:

  • 12.6% in Metro Denver
  • 17% in Northern Colorado

To see double-digit increases in sales despite was is occurring in the National economy, is nothing short of remarkable.

At Windermere Real Estate we are taking Safer at Home and Social Distancing very seriously.  Our people are following our Safe Showings protocol, staying connected to their clients, and providing help wherever needed.

Posted on July 31, 2020 at 8:33 pm
Meaghan Nicholl | Category: Blog, Fun Facts, Windermere Real Estate | Tagged , , , , , , ,