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Continuing our semi-annual series of reports on Northern Colorado* real estate market trends, this report takes a look at what has been happening with the listing prices of homes placed on the market. This indicator of market trends is an interesting one - sellers price their homes based on their opinion of its value, their expectations regarding how the market is doing, advice from professionals - including Realtors and appraisers, and a variety of other external factors, such as a need to sell.
As we can see from the chart, this indicator fluctuates much more widely than actual sales prices. Over the two-year period covered, the average listing price varied within a range of around 18%, from a low of $236,000 in November, 2010 to a high of $281,000 in September, 2011 - 10 months later, at which point, it dropped to $262,000. But the overall trend line has been generally upward, with strong signs of increasing confidence as we move closer to the present day.
Our analysis of this data suggests that several factors are working here - sellers are probably more optimistic that the market is stronger than in the past and will respond more favorably. And they have also correctly identified a change in market conditions that shifts favorably toward them because of the decreased inventories being experienced throughout the region, which in some areas and some price ranges has even created "seller's market" conditions. Sellers are as aware as anyone else that the region's real estate market is improving and are acting accordingly.
If you would like to follow the Northern Colorado real estate market data in more detail, please take a look at Mary & Dick's Blog, where we report regularly and in greater detail on what's happening in each city and county, as well as on specific market segments and neighborhoods. And if you would like specific information that we're not reporting, please give us a call. If the data is available, we'll get it for you.
* We're defining Northern Colorado as all of Larimer & Weld Counties, which include the cities of Fort Collins, Loveland, Estes Park, Berthoud, Wellington, Greeley, Windsor, and Johnstown.
Mary & Dick Greenberg Elevations Real Estate LLC 106 East Oak St. Fort Collins, CO 80524 970-689-4663 www.maryanddick.com
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.