Obviously, we won't be publishing the 2013 Market Update until early next year, but it never hurts to start the holiday season with some good news. The following is a look at historical home sales and price trends for the years 2004-2013, and if you just want the good news in short form, you don't have to spend much time with the graphs below - the data shows that the Northern Colorado real estate market is well on the road to a healthy recovery.
It has been an interesting 10 years, going from boom to not-really-a-bust-but-not-so good to getting back on track. The graphs just give us the shape of things - our end of the year summaries in January will have a much more detailed analysis - but they do show the overall picture well.
One point of interest is that while 2008 is widely credited as the point where things came apart, it is obvious that the housing market turned down well before that. It isn't really surprising when you remember that it was the housing market that precipitated the overall downturn to begin with.
And please take note that the 2013 data is only partial - we still have two months left in 2013, and while those may be relatively slow months, there will certainly be enough sales activity in Fort Collins, Loveland and Greeley to surpass 2012's results, so the final part of all three sales trend lines will continue to point upward.
If you have any questions, or would like to discuss the area's real estate market in greater detail, please don't hesitate to give Mary or me a call - we would be delighted to talk about real estate with you.
Mary & Dick Greenberg
Data Source: IRES MLS