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The Market Insider - Everything that I would share over a beer, without the extra calories
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Larimer Country Statistics

Year-over-year residential real estate stats:

  • Average sales prices are up nearly 27%
  • Inventory is down nearly 47%
  • Days on market has decreased by nearly 46%

Top stories this month:

1) Fort Collins is #1 in the USA for bidding wars.

Northern Colorado in general is experiencing record low listing inventory creating a large surplus of demand over supply. 6-7 months inventory is normal / balanced. We currently have 1/2 month of inventory.

Homeowners who might normally be sellers and "move-up buyers" purchasing a larger / more expensive home are staying put to avoid purchasing a home in this competitive market.
2) Out-of-state buyers.

According to Realtor.com, nearly 40% of the online searches for homes in our area are coming from outside of the state, compared with a national market average of 13.2%.

My last three listings were at price points 1.3M, 1.2M, and 780K. The first two sold to out-of-state buyers who outbid the local competition by a substantial margin and were all cash deals. The third was a Denver buyer.

Will the Montava Project Happen?

This 4,000-home, 1,000-acre project is located in north Fort Collins, west of the Budweiser plant.
Plans submitted to the city include a working farm and town center. These amenities would be available to the entire Fort Collins community.
Water remains the biggest challenge to this project's approval. The developer has secured non-potable water to the site, however there is still no confirmed source for drinking water. The developer is working to find a solution, exploring purchasing water and use of an underground aquifer.

Big Deals in NOCO

Gallery Flats Sells for $18M

Gallery Flats, a nearly full apartment complex that helped drive redevelopment in downtown Loveland several years ago, has sold to Arizona investors for $18.05M.
The property was developed by Brinkman Partners in 2013-2014. Brinkman sold the building to to a partnership of two brothers, Scott and Kevin Hearne, in 2017 for $11.2M. This represents a sale price increase of $6.85M in only 4 years!

Coming Soon
227 West Street

$1,225,000
4 Bedrooms | 4 Bathrooms
3,101 Square Feet of Living Area
2 Car Detached Garage

Contact me at 970-213-2095 for a private showing

Fun Travel Recommendation

My family and I have enjoyed trips to River Run Resort in Granby this summer, and I highly recommend it for fall season travel. It is located near Grand Lake and Rocky Mountain National Park. The on-site amenities and programs have created many incredible memories!
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ADD YOUR LUXURY TEAM HERE
Greg Roeder
Owner
Waypoint Real Estate, LLC
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Madalyn Winner
Broker
Waypoint Real Estate, LLC
Direct: 970-219-9248
Office: 970-632-5050
mwinner@waypointre.com
125 South Howes St, Suite 500, Fort Collins, CO 80521
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