Northern Colorado - Local Market Statistics

Local Market Statistics
National Numbers that Drive Real Estate County Housing Market Snapshots: 2nd Quarter 2009 Trends County Housing Market Snapshots: 1st Quarter 2009 Trends County Housing Market Snapshots: 4th Quarter 2008 Trends 3rd Quarter Comparisons: Fewer Homes for Sale County Housing Market Snapshots: 3rd Quarter 2008 Trends 2009 Northern Colorado Economic Outlook Real Estate Economic Indicators
National Numbers that Drive Real Estate Numbers Released 10/9/09 Home Sales Existing home sales eased after four consecutive monthly gains, recording 5.1 million transactions. While at 2.7% lower than July, sales remain 3.4% above the level seen last August. According to Lawrence Yun, NAR chief economist, “Some of the giveback in closed sales appears to result from rising numbers of contracts entering the system, with some fallouts and a backlog contributing to a longer closing process.” Median Home Price Existing-home price was $177,700 in August, an 8% bounce back from its low in January but still 12.5% below the level seen last August. Distressed properties, which accounted for 31% of all transactions in August, continue to downwardly skew the median price as they typically sell for 15%-20% less than traditional homes. Inventory—Month’s Supply Total housing inventory at the end of August fell 10.8% to 3.62 million existing homes available for sale, representing an 8.5-month supply at the current sales pace, down 8.6% from July’s 9.3-month supply. Compared to a year ago, there are now 16.4% fewer homes on the market. Source: Keller Williams Realty, “This Month in Real Estate,” released 10/9/09.
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County Housing Market Snapshots Please note: The third quarter 2009 column (Q3 ‘09) shows forecasted movement. Actual third quarter 2009 numbers will be available in follow-up issues. Source: IRES “Economic and Market Watch Report, 2nd Quarter 2009”
Larimer County, 2nd Quarter 2009
Weld County, 2nd Quarter 2009
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County Housing Market Snapshots Please note: The second quarter 2009 column (Q2 ‘09) shows forecasted movement. Actual second quarter 2009 numbers will be available in follow-up issues. Source: IRES “Economic and Market Watch Report, 1st Quarter 2009”
Larimer County, 1st Quarter 2009
Weld County, 1st Quarter 2009
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County Housing Market Snapshots 2008 4th Quarter Trends Source: IRES “Economic and Market Watch Report, 4th Quarter 2008"
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3rd Quarter Comparisons: Fewer Homes for Sale Third quarter 2008 figures are in for Northern Colorado. The number of homes for sale dropped consistently over the last three years. This is good news for sellers, as a tightening market is key to stabilizing prices and shortening the average days on market. The Numbers Source: IRES Market Watch Report—2006/2007/2008 - Larimer and Weld County
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County Housing Market Snapshots Please note: The fourth quarter 2008 column (Q4 ‘08) shows forecasted movement. Actual fourth quarter 2008 numbers will be available in follow-up issues. Source: IRES “Economic and Market Watch Report, 3rd Quarter 2008”
Larimer County, 3rd Quarter 2008
Weld County, 3rd Quarter 2008
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2009 Northern Colorado Economic Outlook The Northern Colorado Economic Development Corporation (NCEDC) recently released their 2009 Northern Colorado Economic Outlook. You can download a complete copy of the report from the NCEDC website at www.NCEDC.com. Below are highlights from the report: 2008 population 528,500 Projected 2013 population 612,700 4,994 new jobs created between July 2007 and 2008 (2.3 percent) 4,000 projected new jobs added to the region in 2009 Unemployment rate (July ‘08) 4.9 percent, 1.1 percentage points lower than U.S. $38,465 earnings per worker in 2007, up 7.6 percent (inflation adjusted) since 2001 and 2.1 percent since 2006 1,500 projected new Single Family building permits issued in 2008 Source: Northern Colorado Economic Development Corporation, “2009 Northern Colorado Economic Outlook,” pulled 11/10/2008
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Real Estate Economic Indicators The Northern Colorado Business Report releases Economic Indicators FC = Fort Collins; LVLD = Loveland; GRLY = Greeley Note: Unless otherwise indicated, all statistics are for Larimer and Weld counties combined. * Projected population numbers from the Colorado Division of Local Government; U.S. Census Bureau Source: Northern Colorado Business Report, “Economic Indicators—August 1, 2008” http://www.ncbr.com/section.asp?secID=27
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