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It is no surprise that Colorado’s Front Range has seen a significant population boom over the past several years that has impacted local and regional housing markets. As presented in Illustration A, housing markets in Boulder, Larimer, and Weld Counties have shown an upward trend in median home sale prices over the past seven years (12 month rolling values). How much of a trend you might ask? From January 2011 to December 2017, median sale prices for Boulder, Larimer, and Weld Counties increased 51%, 62%, and 86%, respectively. Just in the past year (December 2016 through December 2017), median sale prices for Boulder, Larimer, and Weld Counties increased 5%, 6%, and 12%, respectively. While new construction is helping to alleviate some demand, this upward trend in prices will likely continue through 2018 as inventory remains low and demand remains high. Illustration B presents the impact that buyer demand is having on the available inventory in Boulder, Larimer, and Weld Counties.
What does all of this mean for home sellers and home buyers? Home sellers can take advantage of the inventory shortage and generally sell their homes for a premium. Home buyers may pay more for a home in this market; however, taking advantage of lower interest rates, building equity (vs renting), and homeowner tax deductions are all advantages for buyers. Please contact me today to find out how your neighborhood compares to these county trends and to see if selling or buying a home may be right for you.
Buying or selling real estate is a monumental endeavor that can be streamlined by selecting the right real estate professional. "How do I select the right real estate professional with so many real estate agents to choose?" you might ask. Finding an agent not only with experience, but also with the drive, marketing skills, and personality to work with you every step of the way is critical. I provide my clients with the highest quality of service by being professional, responsive, trustworthy, knowledgeable, and accountable. My success resides largely on my client's satisfaction and I do my best to provide my clients with the service they expect from an agent. I look forward to assisting you with your current real estate needs as well as building a working relationship that grows in the years ahead.
- Marshall Massaro, RE/MAX Traditions, Inc.
"A Better" Broker Associate, REALTOR
Marshall Massaro, RE/MAXTraditions, Inc., 2204 18th Avenue, Longmont, CO
Cell: 303-912-9124 Office: 303-772-3800 Marshall.Massaro@remax.net
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