As we head into the last month of the year, the market hasn't given us much guidance on the direction we can expect in the next few months, which is frustrating, yet somewhat typical. November, December and January are typically the months where there is just too little activity going on to paint a picture of a recovering or declining market. That being said, since the market has been pretty static for the last 3 years at this point, a mixed bag of a market is essentially indicative of a sideways path. Expect more of the same through the holidays. Here's hoping we can eek out price improvements in 2025.
THE CRAFT BROKER
NORTHERN COLORADO HOMES
November Real Estate Market - A Mixed
Jared Reimer - The Craft Broker
NORTHERN COLORADO MEDIAN HOME VALUES
NORTHERN COLORADO HOME SALES
FORT COLLINS (IRES AREA 9, INCLUDING FORT COLLINS, WELLINGTON, TIMNATH, & WESTERN LARIMER COUNTY)
Fort Collins had a surprising drop in sales in November as compared to 2024 figures, down nearly 12%. Median value was in the low range of "typical", posting a $557,500 figure. This is after hitting around the $650k mark in the summer. When I mention that this is in low range of typical, we've seen median values vacillate between the high 500k range to the mid 600k range for the better part of the last 3 years, so while it is low, it is not necessarily out of the norm. We shall see what December brings to the choice city.
LOVELAND/BERTHOUD (IRES AREA 8, INCLUDING LOVELAND, BERTHOUD, & SW LARIMER COUNTY)
The Loveland/Berthoud market was essentially on par with 2024 sales and median figures. The sweetheart city had 129 sales, up nearly 2% from November last year, and the median value was $530,000. This is on the lower end of normal. Loveland is the only city in the region that has posted a lower year to date median than 2024, but just down 2.65% where as Fort Collins and Greeley are up .17% and 2.17%, respectively.
GREELEY/EVANS (IRES MAIL CITIES GREELEY AND EVANS)
The Greeley/Evans market had a surge in sales in November. It seems that Greeley will have a big month and then a disappointing month, which is not always bad, just indicative of a sideways market that can't find much direction. Sales were up 21% to 93 homes sold, and median value hit that $435,000 mark for yet another month.
INVENTORY
Inventory fell sharply in Fort Collins and Loveland from October to November, and was a bit more gradual in Greeley. A LARGE portion of the drop in inventory are either homes that were withdrawn or expired. Even with the drop across the region, we are still going to be at higher inventory levels throughout December and January than we were at this point last year. Going into a new year with a bit of a glut in inventory is no way to start a New Year, and if any withdrawn/expireds come back on, we will be back at higher than normal inventory levels in the first quarter - good for buyers, rough for sellers.
PERCENT OF LIST PRICE TO SOLD PRICE
Percent of list to sold price was mostly unchanged across the region, slight uptick in Loveland, down in Fort Collins and even in Greeley, however all in the 97% range. This means the typical home is seeing a 3% reduction in closing price vs list price.
I provide the expert guidance, resources and confidence to easily make a move in Northern Colorado. Every real estate transaction is unique and I work closely with you to develop a plan, strategy and approach to get the most out of your next sale or purchase. If you, a friend or a neighbor have a real estate need, please get in touch with me | Jared@TheCraftBroker.com or 970.222.1049
About the Author: Jared Reimer is a native Coloradoan and Partner at Elevations Real Estate in Old Town Fort Collins. He’s a community advocate, business champion, blogger, leader, tireless volunteer, innovator, thinker and expert on all things real estate in Fort Collins and surrounding Northern Colorado. You’re likely to find Jared spending quality time outside with his wife, Kacie, and kids, Hudson and Isla, or visiting with friends and clients throughout Fort Collins and Northern Colorado. Call or text Jared at 970.222.1049 or email him at Jared@TheCraftBroker.com