What do you see on the report below that you don’t like? Is the average sales price of single family homes in Longmont not high enough for you? Not enough attached dwellings sold in Longmont last month to give you confidence? Is the number sold year-to-date in Area 5 not to your liking? Sure, all of those things could be a little better, but February was another outstanding month in the Longmont area and it points clearly that we are all moving in the right direction. Deep down inside we are all just a touch greedy and would like to see the volumes and prices skyrocket to make us happy. But if each of us didn’t get a piece of that pie, the bank account ends up being the driving factor in being satisfied with this recovery that I called back in July. So, whether you have cashed in or not in the last few months, know this, recovery is under way.
Now take a look at the Firestone, Frederick and Dacono chart…I have never seen a chart that has all six rows of data that have moved in a positive direction in the same month. It’s remarkable really. There will some who will grumble that it’s “just” Firestone, Frederick and Dacono, but I will argue that this is a viable market that has it’s own unique characteristics. I would further argue that there is probably better value in the hottest price points out there compared to Longmont ($180,000-$225,000). The people buying those houses in that area don’t have an issue with where it is, they have an issue with paying more for less in Longmont. It’s the same as we (or many of us at least) see the Boulder market compared to the Longmont market. The price difference isn’t the same, but the perceived value difference is great enough to influence a buying decision.
What does this mean for the future? Over the next three month, the graph in the middle of this report will not make a nice little “U” shape like in January and February. That stupid first time home buyer’s tax credit messed that up, but if we continue to see small victories on a regular basis, it will be “game-on” come June.
Click here for the .pdf version: February 2012 Longmont-final-Kyle