Northern Colorado Real Estate Market Report September 2018

The market has cooled slightly with the rise in interest rates and the time of year.  But we’re still seeing fairly strong appreciation rates of 3-10% depending on the area. Considering that interest rates have increased almost a full point over the last year, we expected a more significant market cool off and perhaps a slight decline in prices, but the cool off has been minimal. It’s a testament to the fundamental strength of our market.

As you can see below, markets with a lower median price like Greeley and Loveland are appreciating much faster than more expensive parts of Northern Colorado.  With median price points nearing $400k in much of our area, lower-priced communities are getting a lot of attention!

September and October are especially slow months for real estate. It’s the back to school slump that we see each year. The number of homes listed and sold drops significantly but it can be a great time for buyers to find deals. More than any other time of year, early fall will have some sellers scratching their heads, wondering why their home is sitting unsold. They may be open to knocking a significant chunk off the list price. On the other hand, properly priced homes, especially under $500k are still commonly selling in a few days and receiving multiple offers over list price.