Let’s go back in time to the year 1985. The first Top Ten list by David Letterman premiered. Back to the Future was the top grossing film. New Coke was launched and failed. The Titanic wreckage was found. The first version of Windows came to market. “You Look Mah Va Lous” was a popular catch phrase. Your truly graduated from high school and the average price of a new home was $89,330 and mortgage rates were about 13%.
How things have changed. In terms of housing inventory we are seeing levels lower than they were in 1985, even with a population that has increased by one million. In February 1985, in Metro Denver, there were 17,308 unsold homes on the market. As of February of this year, only 6,786 homes were available in the Denver market.
Here’s to looking “Mah Va Lous” in April!
February – 2013 Longmont Real Estate Market Update
If you need a copy of the most recent information on the Longmont market, please click here to go to this story on my web site: Longmont Stats Report