Many buyers are out looking for homes in the new year, whether they are searching for their next dream home or were relocated due to company relocations in the new year; demand is increasing! THE ADVANTAGE OF LISTING IN EARLY 2023 WORRIED ABOUT MISSING THE SPRING MARKET? No one can predict the future, though if you wait until everyone else lists their home in the spring, your home may not see the exposure you are expecting, especially if there is lower demand! SHOULD YOU LIST AT THE START OF 2023 OR HOLD OFF UNTIL SPRING? GET AHEAD OF THE CURVE AND LIST YOUR HOME TODAY WITH OWN THIS HOME TEAM! Visit www.OwnThisHomeTeam.com for more community info, current listings, and recent sales. RE/MAX Alliance Greenly 1275 58th Avenue, Suite A Greeley, CO 80634 (970) 669-1234 January 2023 Real Estate Market Report GOVERNOR’S RANCH Published by REAL Marketing (RM) | www.REALMarketing4You.com 858.952.4280 | ©2023 PRESORTED STANDARD US POSTAGE PAID REAL MARKETING Each Office Independently Owned and Operated. WE HAVE HELPED A TOTAL OF 33 BUYERS AND SELLERS IN GOVERNOR’S RANCH! www.OwnThisHomeTeam.com www.OwnThisHomeTeam.com Billie Jo Downing REALTOR® ABR, CDPE, CNE, CNHS, CRS, ePRO, GRI, RCC, SFR, SRES 2007 Realtor of the Year 970.481.4150 BillieJo@OwnThisHomeTeam.com Kathy Scribner REALTOR® ABR, CDPE, CNE, CNHS, ePRO, GRI, RCC, SFR 970.669.4175 Kathy@OwnThisHomeTeam.com PREPARED ESPECIALLY FOR Your Governor’s Ranch Real Estate Specialists Presented by BILLIE JO DOWNING & KATHY SCRIBNER Leonardo and Angelica Washington
Living, Loving,
DON’T EXPECT A PRICE DROP IN HOME PRICES IN 2023
Expect an Increase of 1% in The National Median Next Year Instead
The Current Market
While elevated rates, sluggish sales, and high inflation have taken a toll, it’s unlikely home prices will drop next year. In fact, we may see a further uptick; home prices are holding steady for most parts of the country since inventory is extremely low.
Leonardo and Angelica,
Mortgage Rates
Housing inventory is about a quarter of what it was in 2008, with distressed property sales at just 2% and nowhere near the 30% mark seen during the crash. There are signs that mortgage rates have topped out at 7%. One example is the October consumer price index, which shows inflation is rising less than expected.
Homes Currently Under Contract or Pending in Governor’s Ranch
There are currently no homes Under Contract or Pending in Governor's Ranch. Call us if you would like to know what your Governor's Ranch home would sell for at 970.481.4150 or 970.669.4175
Homes Sold Recently in Governor’s Ranch
Predictions
Home sales are expected to decline by 7% in 2023. However, 2024 is expected to result in a strong rebound, with a projected increase of 10% in home sales and a 5% increase in the national median home price. Prices should hold firm or marginally grow.
Plenty of potential buyers are still patiently waiting to enter the market. Talking with your neighborhood experts to develop a plan to stay ahead of the curve will result in the best sale possible. Call us today at 970.481.4150 or 970.669.4175 to get the conversation started.
INVENTORY IS LOW, AND WE HAVE MOTIVATED, WELL-QUALIFIED BUYERS LOOKING FOR THEIR NEXT DREAM HOME IN GOVERNOR’S RANCH! Call
Status Address Beds Baths Est. Square Feet Year Built List Price Sold Price Sold Date Sold 1346 Plains Court 3 3 3,686 2003 $609,900 $582,800 11/30/22 Sold 155 Ridge Road 5 3 3,212 2001 $519,000 $510,000 11/04/22 Sold 134 Ridge Road 4 3 3,260 2002 $549,900 $549,900 10/07/22 Sold 301 Surrey Ridge 5 3 3,675 2017 $595,000 $595,000 09/30/22 Sold 26 S Mountain View Drive 4 4 3,910 2016 $610,000 $610,000 09/30/22 Sold 1356 Plains Court 5 4 3,783 2005 $575,000 $575,000 09/07/22 Sold 1345 Settlers Drive 6 3 3,391 2013 $550,000 $565,000 09/01/22 Sold 1566 Plains Drive 5 3 3,964 2015 $630,000 $700,000 05/20/22 Sold 262 Settlers Drive 5 3 3,424 2001 $535,000 $545,000 04/18/22 Sold 1570 Colorado Parkway 6 4 4,008 2017 $625,000 $620,000 12/30/21 Sold 242 Settlers Drive 3 2 3,294 2001 $449,000 $450,000 11/19/21 Sold 1633 Carriage Drive 4 4 4,126 2015 $600,000 $600,000 10/12/21
and Promoting Our Community's Value for Over 25 Years! No One in the World Sells More Real Estate than RE/MAX! Billie Jo Downing, Kathy Scribner, Own This Home Team, and RE/MAX Alliance are not in any way affiliated with Governor’s Ranch Owners Association, nor is this in any way an official advertisement or publication of Governor’s Ranch. © 2023 All rights reserved. This representation is based on sales and data reported by multiple brokers/agents to the IRES MLS between October 12th, 2021 and December 12th, 2022. Listings and sales may not be
IRES
real estate activity
E&OE
This market report
solicit properties already listed for sale nor intended to cause a breach of an existing agency relationship.
those of RE/MAX Alliance. The
MLS does not guarantee the accuracy of this data, which may not reflect all the
in the area.
covered.
is not intended to
REPORT Homes Currently Listed in Governor’s Ranch Status Street Name Beds Baths Est. Square Feet Year Built List Price List Date Active Ridge Road 4 3 3,339 2002 $550,450 10/21/22 www.OwnThisHomeTeam.com Billie Jo Downing REALTOR ® ABR, CDPE, CNE, CNHS, CRS, ePRO, GRI, RCC, SFR, SRES 2007 Realtor of the Year 970.481.4150 BillieJo@OwnThisHomeTeam.com Kathy Scribner 970.669.4175
REALTOR ® ABR, CDPE, CNE, CNHS, ePRO, GRI, RCC, SFR
RANCH MARKET
Kathy@OwnThisHomeTeam.com
us today to discuss how we can help you achieve your real estate goals. Source: NAR’s Lawrence Yun
