Slowing Down or Taking a Breather?
I wish I knew the answer. The real estate market always slows down around end of summer. Everyone is settling into a new routine whether they’re in school or not. It’s just how we think–a hard habit to break. I propose we celebrate the New Year in September. It makes more sense to me.
The Crystal Ball Saga Continues
However, I have seen a substantial amount of price reductions, especially of vacant homes. What does this portend? Once again, I dug through the yard implements in the garage to find my crystal ball. Using one of my dog’s bath towels (yes, she has more than one), I polished the ball with a little Windex and it shone just like the piece of glass it’s made from. Frida’s pretty little face hovered in the background of the crystal ball while she licked it, hoping I would take it outside and throw it to her. It’s tough to read these things while a dog stares at you, unblinking.
Alas, once again, I failed to read my crystal ball.
Unfortunately, uncertainty reigns. It shouldn’t.
As per our company’s latest assessment of the recent market, published in our 2nd Quarter 2019 NOCO Home Report, there was a 5-6% increase in appreciation for the northern Colorado real estate market. There’s also a 1.5-2 month supply of homes which makes it a strong sellers market. Yes, this might have changed recently but nothing new for the August-September slump.
Buyers Should be Looking Right Now
If you’re a seller, make sure you’ve done everything you can to make your house perfect (my next post tells you how to do that) and be flexible as to terms and pricing. If you’re a buyer, you should be out there right now.
And if you want a copy of most recent NOCO Home Report, I’d be happy to snail mail you one. Text or email me. It includes stats for Fort Collins, Loveland, and Greeley.
If you’d like to ride along on my tour of Mary’s Favorite Homes (those still on the market), contact me soon. I’m thinking of doing it this Sunday, September 22.
Mary Roberts, CRS, SRES, GRI