Real estate is very regional in Northern Colorado. Things could be booming in Greeley, flat in Loveland and creeping upwards in Fort Collins, all within the same month. If you follow the news, it could be hard to tell what’s happening in your neck of the woods. Even in Fort Collins, for example, different neighborhoods and areas are becoming more attractive or more in demand for one reason or another – be it schools, new amenities, crime or employment. To give you a specific and in depth look at what is specifically happening across the region, here are Northern Colorado’s hottest zip codes.
Northern Colorado’s Hottest Zip Codes
*Data acquired from IRES MLS – YTD from 1/1/17 – 8/31/17 vs. 1/1/16 – 8/31/16
|Zip||Homes Sold||Median Value||Value % Diff. (YTD)|
|Ft Collins (Northwest/Old Town)||80521||185||$394,000||16.50%|
|Fort Collins (Southeast)||80528||180||$511,250||9.95%|
|Fort Collins (Northeast)||80524||407||$381,900||9.11%|
|Fort Collins (Southwest)||80526||340||$375,000||8.71%|
|Ft Collins (Central/Southern)||80525||516||$409,450||3.19%|
Let’s be honest, even the low man on the totem pole, Wellington, with just a 3.15% increase in median value over the past year is still pretty good. We should never discount a 3% median value increase. The fact that every Northern Colorado zip code had substantial increases over last year is very promising, including several double digit increases.
The big winner of the Northern Colorado’s hottest zip codes contest is 80521 – Old Town and Northwest Fort Collins. The area, in general, covers from College Avenue west to Overland Trail, between Prospect and the Poudre River. With a YTD median value of $394,000, 80521 grew 16.5% over YTD 2016 figures. On average, that’s about $55,800 in additional value/equity per home!
Something very unique about the 80521 zip code is the eclectic nature of the housing stock. The lowest priced home that sold in 2017 was a 1/2 duplex on Overland Trail for $215,000 and the highest priced home that sold in the same time period was a stately 4000 sf Mountain Avenue craftsmen home just north of City Park. There were homes within the 80521 zip code that were built in the 1890’s and homes that were built in 2016.
Some of the neighborhoods within 80521 that had a big impact on the increase in median value were: Fairway/Fairway West, Loomis, Miller/Miller Brothers, The Ponds and Valley Hi. So if you’re a buyer looking to get into these neighborhoods, or a seller looking to capitalize on the strong demand – shoot me a text to get started.
Runner up was Greeley East, which reported a 16.23%, narrowly taking second place. The majority of the double digit increasing neighborhoods tended to have more affordable options, which Greeley East certainly has, with a median value of just $219,900. As for the most expensive zip code in Northern Colorado – it was a neck and neck finish between 80528 – Fort Collins South East and 80547 – Timnath, reporting median values of $511,250 and $509,000 respectively.
As you can see from the chart above, things can be much different from zip to zip, or neighborhood to neighborhood. If you want to see where you stand, contact me for a no obligation, free neighborhood analysis and valuation assessment. Even if you don’t plan to make a move, knowing where you stand could help you better manage your equity, debt and savings. Let me be of service!
About the Author: Jared Reimer is a native Coloradoan and an Associate Broker 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 young son, Hudson, or sharing a beer or two with a friend throughout Fort Collins. Call or text Jared at 970.222.1049 or email him at Jared@TheCraftBroker.com