Longmont Housing Market Update

Longmont Housing Market Update

As many might know the real estate market has been doing well in the past year and the Longmont housing market is no different. Single Family houses and attached dwellings are selling over the listed sales prices.  The prices of homes have also been increasing exponentially in the past two years.

Sellers market highlights sudden surge in home values longmont colorado

How does this affect you?  Well it is a great time to sell your home and frankly buying now could help you in the long run.  With an exponential curve as below, it is likely to continue in the next two years.  Also, news in just recently, September 17, 2015, that the Federal Reserve has decided to hold off on increasing interest rates.  The initial plan was they were discussing whether or not to raise the interest rates in October, that has been pushed back.

Meaning it is a good time to buy now, before the housing prices and interest rates go up.

Longmont Home Values Up, Longmont Housing Inventory Down

Now, to focus specifically on to the Longmont housing market, we see that from 2014 to 2015 for single-family homes the inventory of homes for sale has decreased by around 28%.  Yet, the average sales price of a single-family home has increased by 19% in the past year.  This may be showing an inadequate supply and demand distribution.

august Longmont Housing Market statiistics

According to Movoto.com’s , another local real estate blog, top ten places in Colorado to live Superior and Boulder topped the list. It also can be shown in the past ten years the number of people moving in the Front Range area of Colorado has grown exponentially. The Longmont housing market used to be a less expensive option for family homes then that of Superior or Boulder’s.  Yet, we are seeing with last year’s statistics that could be changing very soon.  The prices are increasing more and more in Longmont. So if you are looking to buy in the Front Range area I suggest you do so now before the prices in Longmont housing market continue to increase.

Guest Blog written by: CU Boulder Intern Jordan Hizel

Jordan Hizel is currently a senior at the Leeds School of Business at the University of Colorado Boulder. Jordan is an intern this semester with Berkshire Hathaway Boulder.  In her internship role, Jordan will be primarily working with experienced Realtor Bob Gordon.  Jordan as a senior is looking into opportunities, come graduation in May 2016, in Colorado’s marketing and real estate fields.

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