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John Stegner
In this issue: 
Market Happenings
What to do in NoCo
Comparing the 2008-2009 Market to Today’s Market
It seems that people fear a repeat of what happened to the market in 2008 and 2009.
The reality is this. There are some similarities between now and the pre-bubble market of 15 years ago. Prices are appreciating rapidly, however, there is one massive difference. The inventory of homes for sale right now is drastically different than 15 years ago.
Economists tell us that, in order for prices to crash, demand needs to diminish, supply needs to swell, or some combination of the two. Supply today is a fraction of what was 15 years ago.
Homes for sale today:
  • Larimer County = 238
  • Weld County = 226
Homes for sale 15 years ago:
  • Larimer County = 2,998
  • Weld County = 1,113
The reason why prices flattened and decreased slightly along the Front Range in 2009 is because the National economy had a melt down and there was glut of supply. We do not have anything similar to those same dynamics today. Most economists believe that the current pace of appreciation will not keep up, but inventory levels insulate from any kind of crash. There is hope as a promising increase in the inventory of homes has taken place in the last few days.
“The remainder of 2021 will see mortgage rates increase gradually due to the increase in economic spending. We anticipate mortgage rates on a 30-year fixed rate to get to 3.24% by summer,” said Jason Gelios, a top-producing realtor with Community Choice Realty in Southeast Michigan.”
New Valuable Added Service - ePropertyWatch
We are making this new monthly service available via email so you have the opportunity to review the estimated value of your home and the current sales of properties like it in your neighborhood. Please contact me - or 970-412-1657 if you would like to take advantage of ePropertyWatch.
Market Happenings
According to the Fort Collins Board of Realtors:
"New Listings were up 24.6 percent for single family homes and 38.8 percent for townhouse-condo properties. Pending Sales landed at 290 for single family homes and 97 for townhouse-condo properties.
The Median Sales Price was up 14.6 percent to $510,000 for single family homes and 12.7 percent to $348,000 for townhouse-condo properties. Days on Market decreased 35.6 percent for single family homes and 31.6 percent for townhouse-condo properties."
For more news and a complete review of the latest housing statistics and information compiled by the Fort Collins Board of Realtors click this link and download the full report.
Want to get an up to the minute market report on any town in NoCo? 
Check out this page - click on the graph and follow the past and current trends in Fort Collins.
Further, go to our homepage and select a town listed there and you will be able to see other town's stat too!  
On behalf of all the agents here at New Era, we are proud to be recognized as the number one producing team in Colorado by Real Trends. On the national stage we ranked 40th in sales volume and 43rd overall in transaction sides. Click here to find out what makes us the #1 team in Colorado.
What to do in NoCo:
Finally, for a list of more events in Northern Colorado check out this link!
Featured Listing - This great property is being listed by a fellow NoCo New Era Group Realtor. If interested in it please contact me at 970-412-1657.
2231 Wakefield Drive, Fort Collins, CO 80526
Fantastic Tri-level with add'l square footage on large lot in Village Green! Price: TBD.
New Era Group | John Stegner