Archive for June, 2018

Our Office is Moving!

We are moving!

We’ve outgrown our starter space (as expected) and now we get our big-boy office. The integrity of the people at First American Title is simply amazing. They made promises to us when we opened a year ago and this is the fulfillment of that promise. We will be open July 3rd in the new space.

If you don’t recognize the address, it’s the Roosevelt Building at the corner of Longs Peak and Coffman. The parking is great. There is even free, covered parking on the north side of the Roosevelt Place Apartments…or Bin 46, however you choose to look at it. Hot closing tip – Bin 46 opens at 3pm, so set your closing time at 2 so you can walk across the street to celebrate. I’m not sure when the new signage will be up, so in the short term it’ll look like the photos below and we will be in the old Bank of Colorado space.

Our phones and email won’t change, just our location…oh, and those black awnings will be blue one day soon…with a big eagle above the door. Let me know if you have any questions.

Regards,

Kyle Snyder
720-534-8355
ksnyder@firstam.com

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Colorado Front Range Listing Statistics

Colorado Statistics

Please click on the desired city below in the map or scroll down and click on the name of the city in the list to obtain Colorado Single Family and Condo Statistics.

Map of Colorado

Arvada
Condo
Single Family

Aurora
Condo
Single Family

Berthoud
Single Family

Boulder
Condo
Single Family

Brighton
Single Family

Broomfield
Condo
Single Family

Castle Pines
Single Family

Castle Rock
Condo
Single Family

Centennial
Condo
Single Family

Colorado Springs
Condo
Single Family

Commerce City
Single Family

Denver
Condo
Single Family

Elizabeth
Single Family

Erie
Condo
Single Family

Estes Park
Condo
Single Family

Evergreen
Condo
Single Family

Englewood
Condo
Single Family

Fort Collins
Condo
Single Family

Franktown
Single Family

Golden
Condo
Single Family

Greeley
Condo
Single Family

Greenwood Village
Condo
Single Family

Highlands Ranch
Condo
Single Family

Johnstown
Single Family

Lafayette
Condo
Single Family

Lakewood
Condo
Single Family

Larkspur
Condo
Single Family

Littleton
Condo
Single Family

Lone Tree
Condo
Single Family

Longmont
Condo
Single Family

Louisville
Condo
Single Family

Loveland
Condo
Single Family

Monument
Condo
Single Family

Nederland
Single Family

Parker
Condo
Single Family

Pueblo
Condo
Single Family

Sedalia
Single Family

Superior
Single Family

Thornton
Single Family

Wellington
Single Family

Westminster
Condo
Single Family

Wheat Ridge
Condo
Single Family

Windsor
Condo
Single Family

Woodland Park
Condo
Single Family

If you have any questions, please feel free to call, text or email.

Regards,

Kyle Snyder
ksnyder@firstam.com
720-534-8355

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Longmont Home Prices Surge to $201 per Square Foot

We meet here, month after month, year after year. We watch and talk about the increasing prices in Longmont. We are now solidly into the $450,000+ average price range, so I thought it would be a good idea to graph the year-to-date sales by price point. I’ve done this in the past, but this one is just a bit different. For the first time ever I included both single family and attached homes, plus this version has several more price categories. I think it tells a bit of a story.

As prices march north and buyers gasp at the averages and call Longmont an expensive place to live, I think we should consider the information presented in this month’s graph. To have only 14 homes sell below $250,000 isn’t a surprise…because we know lower priced homes disappeared over the past few years. The one thing that did surprise me was that only 21 homes sold for over $700,000, with the top sale at $1,180,000. It seems every time I look at listings and sales there should be more transactions in this upper end. After I did a little math on these numbers two specific items of note became clear. The first is that 66.2% of all sales (342 of 517) are below the average of $450,000. This is a good example of how large sale prices can influence the average upward. The other item is good news because 32.7% (169 of 517), or darn near one third of all sales, are in the affordable range of under $350,000.

Welcome to June! June is the new, new-listing month. Five years ago May was the top month of the year for new listings, but over the last two years the month of June has taken top honors. More good news, I hope, is that May of 2018 was higher than the past two Junes for new listings, so if June continues its dominance we should see a bunch coming on the market soon. This could be great for buyers struggling to find the home of their dreams.

LAR’s YPN Commitee. They put on a very fun kickball event last week. (l to r) Sean Browning, Seth Brink, Joslyn Rojas, Ali Harper, Bruce Karle & Andrew Reed


May 2018 Longmont Area Real Estate Statistics (.pdf)

May 2018 Longmont Area Real Estate Statistics (.jpg)


Take a look at the crazy numbers for Longmont attached dwellings. If you watch these stats regularly the results here don’t make much sense. We talked before that rising prices and low inventory are affecting the sales totals, but those prices and days on market seem off. It turns out there were 3 new construction attached homes on the market for 126-219 days and priced from $483k – $676k. If you take those outliers out of the equation, days on market goes back to mirror the rest of the pack at 33 and average price drops to $311,000.

Speaking of looking odd, what’s the deal with the average days on market in area 5? We know higher priced homes usually take longer to sell and there are typically a bunch of them in that area, but 73 days seems excessive when compared to Boulder with its $1.238M average price and 44 days on market.  There were 9 homes sold in area 5 last month that were on the market for over 200 days and of those 9, 5 were under $1 million priced from $396k and $763k. If you take all 9 out of the equation, days on market in area 5 drops to a reasonable 46 days. Interestingly, that $396k sale was a mobile home on two acres and active for 304 days. Hmmm.

A string of final thoughts. Firestone, Frederick and Dacono had a total of 2 homes sell below $300,000. Longmont had 6. **In May, the average price per square foot of a home sold in Longmont came in at $201/sf (first time ever over $200/sf), but it’s clear that buying a smaller and less expensive home is not much of a bargain on a price/sf basis. The buyers of those 6 homes sold for an average price/sf of $307! **The least expensive home to sell in Area 5 was a 1,200 sf, no basement home for $375,000.

I hope your summer is off to a great start.

Kyle Snyder
720-534-8355
ksnyder@firstam.com

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