As 2023 starts to kick off, we are seeing that the Northern Colorado Real Estate Market, which has been crazy hot since the beggining of 2021, finally saw some normal seasonality this winter and is poised for more change. In the below video, I discuss the most recent Real Estate Market data and review what this means for Northern Colorado Home Buyers and Home Sellers. Let’s review what the data tells us what is really going on with NOCO Real Estate.
Ignore the national headlines and focus on the local real estate data. The Market data discussed in the above video is from actual sales data in January 2023. By looking at this data, we can see that some of the tends we are seeing actually match normal real estate market seasonality and we are seeing that even in January 2023, we are seeing early signs of a market ready to get hot.
If you are thinking of selling a house in Northern Colorado, I’ve got some really great news. As housing inventory remains very low, and demand to live in Northern Colorado remains high, home prices are going to remain strong. Therefore those selling homes in 2023 are going to get a good price for their homes.
If you are a home buyer, interest rates are dropping. They’ve actually come down a lot since the peak we saw in November/December 2022. With that, housing affordability improves as your monthly mortgage rate will be lower. While that is great news, it also means even more people will get back into the market which will lead to higher home prices and the possibility of multiple offers from the increased demand.
If you want to talk to me about your personal situation and what this Northern Colorado Real Estate Market really means to you, reach out to me through this website or call/text me at 970-203-5066.
*Andy Hawbaker is a Licensed Realtor with Coldwell Banker in Windsor, CO.