Local Market Statistics

NoCo Market Statistics
National Numbers that Drive Real Estate

NoCo Market Statistics
The latest available northern colorado real estate market statistics are in! In the chart below, we examine the following leading market indicators for Greeley, Loveland/Berthoud and Fort Collins:
  • U/C = Under Contract
  • Number of sold properties
  • MSI = Month’s Supply of Inventory

^ return to top

National Numbers that Drive Real Estate
Numbers Released January 2012

Home Sales

Sales among existing homes rose in November by a seasonally adjusted 4%, to 4.42 million units up from 4.25 million in October, and are 12.2 percent above last year at this time. Lawrence Yun, chief economist for NAR said, “Sales reached the highest mark in 10 months and are 34 percent above the cyclical low point in mid-2010 – a genuine sustained sales recovery appears to be developing.”

Median Home Price

While median home prices in November rose to $164,200 from $162,500 in October, they are down 3.5% from a year ago. David Stiff, chief economist at Fiserv, stated, “Housing affordability has improved dramatically because of declines in both prices and mortgage interest rates. The monthly mortgage payment for a median-priced single-family home is now $700, compared to $1,140 in 2006—a decline of nearly 40%.” (Based on 2011 Q2 figures)

Inventory—Month’s Supply

With increased levels of sales, the inventory of homes on the market continued to decrease, falling by 5.8% in November to 2.58 million homes available for sale, or an equivalent of a seven month supply at the current sales pace. This positive sign of increasing sales and lower inventories are keeping the housing market on track for stabilizing home prices and a stronger housing sector.

Mortgage Rates (30-year fixed)

Mortgage rates continued to push historic lows in November, dropping another .08 points, to 3.99% for a 30-year fixed mortgage. "Rates on 30-year fixed mortgages have been at or below 4 percent for the last eight weeks and now are almost 0.9 percentage points below where they were at the beginning of the year, which means that today's homebuyers are paying over $1,200 less per year on a $200,000 loan,” said Frank Nothaft, Vice President of Freddie Mac.


Source: Keller Williams Realty, “This Month in Real Estate,” released January 2012.

^ return to top