YOUR COMMUNITY CONNECTION September Newsletter 2020 Issue 26
Homes in Fort Collins, Loveland and Greeley sold at record pace in June as buyers flooded the local market, reversing a months long slump in real estate activity brought on by coronavirus restrictions earlier this year. In the Fort Collins area, more than half of homes for sale went under contract last month. That left just 342 properties on the market by early July—a number nearly 60% lower than it was this time last year, according to new data from IRES, the region’s listing service. Other communities saw a similar rush of buyers after slower months in March and April, said Chris Hardy, a Fort Collins-based realtor. “The buyers didn’t go away (earlier this year),” Hardy said. “They were on intermission.” On the flip side, sellers have been slow to put their homes on the market, Hardy said. “People who were thinking about selling this year may be thinking ‘Let’s just stay put for a while,’” he said.
After A Slow Spring, Northern Colorado Sees Surge In Home Sales
With increased competition for available homes, the region’s already-high housing costs inched even higher in June. Greeley’s median sales price hit $321,000. Loveland’s reached around $400,000. Fort Collins saw median home prices hit close to (continued on the next page)
By MATT BLOOM, KUNC • JUL 10, 2020
L O C A L R E A L E S TAT E S TAT I S T I C S H O M E P R I C E I N D E X - R E C E N T Q UA R T E R A P P R E C I AT I O N
F O RT C OLLINS - LOVEL A N D
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$450,000—a “crazy number,” Hardy said. Buyers have also been clamoring to take advantage of record low interest rates , he added. Katie Mansouri, another Fort Collins realtor, said last month was the busiest she’s been all year. “June was like drinking from a fire hose,” she said. After Gov. Jared Polis lifted restrictions on in-person showings in May, buyers who were waiting out coronavirus closures started contacting Mansouri again. She purchased gloves, masks and Clorox wipes and began showing homes, wiping down door knobs and light switches throughout tours. “We can proceed with caution,” she said. Amid the rush in activity, Mansouri said she’s seen some homes go for
much higher than asking price. But others haven’t.
Historical Pending/Under Contract by Month 12,000
“I wouldn’t say prices are skyrocketing,” she said. “But it’s a more comfortable, expected increase for a great market like Northern Colorado.” Chris Hardy said even though sales jumped in June, overall real estate activity is down for the year. That’s mainly due to a dip during the spring, immediately after the pandemic began. He expects it could slow again should the state reverse its reopening plans, but he’s hopeful it won’t. “There’s still a substantial number of people who are gainfully employed, have good credit, can qualify for a loan and want a place of their own,” Hardy said.
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Our Northern Colorado Featured Listings
3200 Azalea Dr Y2, Fort Collins
12870 Spruce St, Thornton
5450 Tirranna Ct, Fort Collins
39526 Sunset Ridge Ct, Severance
2037 Vancorum Cir, Loveland
2 Beds/2 Baths/1086 SF $250k, MLS # 917995,
3 Beds/3 Baths/1724 SF $395k, MLS # 918096
4 Beds/8 Baths/9170 SF $1,900,000, MLS # 900020
5 Beds/5 Baths/6128 SF $1,295,000, MLS # 916667
5 Beds/4 Baths/3638 SF $550,000, MLS # 916883
1802 8th Ave, Greeley
1942 Blanca Ct, Loveland
1009 Lochland Ct, Fort Collins
10818 Cimarron St 1206, Firestone
2747 Saltbrush Dr, Loveland
Income Property $695k, MLS # 910957
3 Beds/3 Baths/3589 SF $870k, MLS # 915721
4 Beds/7 Baths, 10710 SF $2,750,000, MLS # 915014
2 Beds/2 Baths/1463 SF $300k, MLS # 912417
3 Beds/4 Baths/3510 SF $489k MLS # 917352
“Sleep is for people without access to the MLS” L I G HT E R S I D E O F R E A L E S TAT E
NAR Reaffirms Its Stand on Fair Housing in National Ad Colorado Association of Realtors
We believe that fairness is worth fighting for, and we won’t stop until the fight is won,” reads a new full-page ad from the National Association of REALTORS® that will appear in The New York Times on Sunday and The Wall Street Journal on Monday. The ads, which focus on REALTORS®’ commitment to fair housing amid social unrest around race, are an extension of NAR’s “That’s Who We R” campaign.
The association also is providing print and social media assets for members and state and local REALTOR® organizations to help spread the message in their markets. The assets, which also include a billboard option or a poster for your office, are available at ThatsWhoWeR.realtor and on the Photofy app. “If recent events have taught us anything, it’s this: We have more work to do,” NAR’s ad states. The ad—highlighting that NAR’s strict Code of Ethics goes beyond federal
anti-discrimination laws and stresses honesty and fairness in housing— marks the first phase of NAR’s fair housing initiative. In addition, a sponsorship package in Politico’s “Playbook” newsletter will run next week. “In these unprecedented times, fairness and efforts to eliminate discrimination have never been more top of mind with consumers,” NAR President Vince Malta said in a statement. “For decades, NAR has been committed to, and fought for, making housing fair for all. And yet, many don’t realize the broad scope of NAR’s commitment against all forms of discrimination in housing, giving us a key moment of opportunity to own this commitment to fair housing in a public way. “An initiative like this is made even more powerful with you—to stand behind it and bring it to life,” Malta noted. “We encourage members, brokerages, associations, and everyone in the REALTOR® family to join us as a champion of fair housing by leveraging these materials, sharing this message, and amplifying this important effort.” NAR plans to build on the momentum of this first phase by launching a second phase of the fair housing initiative in September, extending into additional channels to make consumers aware of what discrimination looks like in housing. NAR also plans to collect real estate stories to help raise awareness around cases of housing disparity and discrimination.
TERMINOLOGY TIP:
LIVES LARGE May appear small in size on paper, square-footage wise, but once you physically walk through the property, it feels much more spacious.
Local Spot of the Month
POUDRE RIVER WHITEWATER PARK Located just north of Old Town, in Fort Collins, kayakers, tubers and kids of all ages can enjoy the Poudre River and all it has to offer. This park brought the river back to a more natural state, helps connect the river to downtown, provides safe access to the river, and improved the river floodplain. Learn more at www.fcgov.com/ parks/poudre-river-park
Photo Credit: NoCo Lifestyle
R E S I D E N T I A L
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C O M M E R C I A L
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P R O P E R T Y
M A N A G E M E N T
Four convenient locations and over 700 years combined experience.
Lindsay Chacon FORT COLLINS Front Range Village
FORT COLLINS Old Town
2720 Council Tree Ave, #178, Fort Collins, CO 80525 Phone: (970)225-5152 Fax: (970) 225-5170
200 S. College Ave. Suite 160, Fort Collins, CO 80524 Phone: (970) 689-3521 Fax: (970) 568-8079
JOHNSTOWN
LOVELAND
4864 Thompson Parkway, Johnstown, CO 80534 Phone: (970) 667-2509 Fax: (970) 667-2802
209 E. 4th Street Loveland, CO 80537 Phone: (970) 800-3181 Fax: (970) 800-3934
2720 Council Tree Ave, #178, Fort Collins, CO 80525
970-631-3458 lchacon@c3-re.com
Information is deemed reliable, but not guaranteed. © 2020 C3 Real Estate Solutions, LLC.
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