Real Estate Market Changes
There are a number of factors that affect the real estate market in a particular area. Among these are interest rates, employment rates, and the general economy.
Longmont Real Estate Market
Longmont and the Front Range have shown continued recovery in the real estate market as well as the general economy. While market conditions fluctuate seasonally, from interest rate changes, and from other factors that are added in, the general direction has been positive. This has resulted in higher sales volume, higher home prices and lower inventory. For instance, since 2010, the median price of homes in Longmont has increased about 14%, sales volume has increased about 83%, and inventory has dropped by more than half.
For sellers the current trends mean you have less competition, may obtain a higher price, and hopefully have a quicker sale.
For buyers, the current market provides an opportunity for lower interest rates and rising values for your real estate purchase.
In either case, The Wall Team is here to help you interpret the current market and what it means to you.
Contact Us for more information.