We keep hearing on the evening news and from all the so called experts that our real estate market is very bad and is in a free fall with no end in sight. Well since I strongly disagree with those comments I thought I would share some facts which should clear up the negative perception of our real estate market.
The following table is for the Fort Collins and Wellington real estate market.
Year Homes Sold % Change Average Price % Change
2000 3,681 $196,007
2001 4,059 10% $213,042 10%
2002 4,175 3% $217,314 2%
2003 3,821 -8% $228,541 5%
2004 4,087 7% $230,589 1%
2005 4,008 -2% $245,494 6%
2006 3,701 -8% $248,767 1%
So even though the number of homes sold fluctuated, the average price increased every year. Is that such a bad real estate market? I don’t think so…as a matter of fact, I would say we are in a very stable market.
The following table is for the Loveland and Berthoud real estate market.
Year Homes Sold % Change Average Price % Change
2001 1,866 $210,327
2002 2,045 10% $218,034 4%
2003 1,976 -3% $222,088 2%
2004 2,621 9% $237,886 7%
2005 2,142 -1% $248,251 4%
2006 1,820 15% $255,033 3%
So just like the Fort Collins and Wellington market the number of homes sold fluctuated but the average price increased every year.
The bottom line is don’t believe everything you hear or read about our real estate market…we are doing pretty well!
The source for this data comes directly from IRESis which is our mulitple listing service (MLS).
Do you have any comments? Please share your thoughts.
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