2012 Results for Northern Colorado Real Estate
Again for the second year in a row, 2012 was the year of under $200,000 demand. The high demand has started to deplete the under $200k inventory giving some increase in prices.
I have put together a table that will help you see how 2012 ended up for residential single family homes (resale/existing and new construction) in the four market areas where I sell homes.
2012 Compaired to 2011 Residential Real Estate in Northern Colorado
|
|
Resale Volume |
New Volume |
Resale Median $ |
New Median $ |
Resale Average $ |
New Average $ |
|
Loveland-Berthoud |
+15.2 % |
+65 % |
+9.2 % |
+6.9 % |
+18.0 % |
-5.5 % |
|
Fort Collins-Wellington |
+15.8 % |
+71 % |
+ 6.1 % |
-15.0 % |
+4.2% |
-8.7 % |
|
Greeley-Evans |
+0.0 % |
+4.2 % |
+15.7 % |
+30.3 % |
+14.0 % |
+21.9% |
|
Windsor |
+27.0% |
+ 59.0% |
+4.9 % |
+6.8 % |
-1.5 % |
+5.9% |
ial Single Family Home Sales
Data Source: Information Real Estate Services (IRES), Information deemed reliable but not guaranteed. All numbers are for residential single family sales only and do not include attached home
On the existing home front in 2012, growth was the name of the game. All but one area saw substantial volume growth in 2012. Greeley-Evans was the only area that had slower improvement.
All resale market areas saw improvement in median and average pricing. Greeley saw the highest growth in median price where Loveland/Berthoud saw the highest growth in Average prices.
The good news for 2012 the volume of foreclosures continues to reduced. The bad news is there is still a lot of inventory of foreclosed homes not on the market. This “Shadow Inventory” as it is called is controlled by mortgage companies and could have an effect on prices should it get forced on the market at a faster rate.
New construction volume in all market areas saw upward growth with most seeing double digit improvements. Greeley-Evans was the only area with single digit growth.
New construction pricing in most areas were up. Fort Collins was the only area that saw negative price changes. This is mostly due to a change in demand for lower end homes.
Rob Proctor -- Broker w/ At Home Real Estate Company in Loveland Colorado
http://www.AtHomeRealEstateCo.com
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