9/2: Bike In Cinema, New Belgium
9/3: Girls Night Shopping, Old Town
9/3: FAC, Museum Courtyard
9/3: Gallery Walk, Downtown
9/4: Tour de Fat, New Belgium
9/4: Brazil Fest, Rodizio Grill
9/5: Mountain Festival, Rist Canyon
9/6: Colorado Run 5K/10K, CSU Oval
9/8: Science Cafe, Avo’s
9/9: Bike In Cinema, New Belgium
9/10-26: Homegrown Ft. Collins, Downtown
9/11: Oktoberfest, Downtown
9/11: Historic Homes Tour, more info
9/14: International Night, Library
9/16: Bike In Cinema, New Belgium
9/18: French Nest Market, CCP
9/18-19: Sustainable Living Fair, Legacy Park
9/22: Art Cafe, Avo’s
9/23: International Night, Library
9/25: Harvest Festival, GOSC
9/26: Arias@Avo’s
9/30: Growing Together, GOSC
July 2010 Fort Collins Real Estate market statistics are in. Each month we track the following leading market indicators for Fort Collins, Colorado:
U/C = Under Contract
Solds = Number of sold properties
MSI = Month’s Supply of Inventory
************************* What is the MSI? The MSI is an estimate of how long it will take for all the homes in a market area to be sold, or absorbed, based on the number of homes currently on the market and the rate that homes have sold in the past. A market is considered balanced when the MSI falls between 5-7 months. Under 5 months is considered a seller’s market and over 7 months is considered a buyer’s market.
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Good news for northern Colorado - Fort Collins, CO and Loveland, CO made Money Magazine’s ‘Best Places to Live 2010‘ list. Fort Collins came in at #6 and Loveland at #33. Fort Collins’ economic stability, biking trails and microbreweries were all featured by the magazine. It is worth noting that this isn’t the first time Fort Collins hit a high note with Money Magazine. In 2006, Fort Collins was named the #1 ‘Best Place to Live’ and in 2008 the city took the #2 spot. Click here to view Fort Collins’ Money Magazine profile.
In profiling Loveland, Money Magazine highlighted the city’s abundant recreational opportunities, public art displays, golf courses and affordable homes. Loveland received similar attention from U.S. News & World Report when named the #7 “Best Place to Live” in 2009. Click here to view Loveland’s Money Magazine profile.
What does Fort Collins have in common with the following places: Silicon Valley, CA; New York City, NY; Huntsville, AL; Fort Wayne, IN? All five cities were recently profiled by USA Today as cities on the rebound.
In exploring Fort Collins’ recovery, two key factors were highlighted: (1) the region is backed by Colorado State University (CSU) - a large, steady employer and (2) the city has embraced the new energy economy. The Rocky Mountain Innovation Initiative (RMI2) and CSU’s Green Power Project are just two examples of these important factors of success at work.
Temperature Check
Key economic indicators are used to measure the temperature of our local economy. In the past year, the area has seen increased sales tax collections, a rise in residential and commercial construction, and new restaurants are hanging “open” signs. Check out how you can Be Local Northern Colorado and continue to make our great city thrive!
June 2010 Fort Collins Real Estate market statistics are in. Each month we track the following leading market indicators for Fort Collins, Colorado:
U/C = Under Contract
Solds = Number of sold properties
MSI = Month’s Supply of Inventory
************************* What is the MSI? The MSI is an estimate of how long it will take for all the homes in a market area to be sold, or absorbed, based on the number of homes currently on the market and the rate that homes have sold in the past. A market is considered balanced when the MSI falls between 5-7 months. Under 5 months is considered a seller’s market and over 7 months is considered a buyer’s market.
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Here are the June highlights:
The two-year comparison from June 2008 to June 2010 shows a slight increase in the number of under contract single-family detached homes, a good indicator for future solds in the area. The actual number of solds was down only slightly by 5%. At the same time, the MSI dropped, indicative of a tightening and more balanced market.
The city of Fort Collins is gearing up for a fun 4th of July weekend. If you are in town, head into Old Town for live music, face painting, a pie eating contest and other fun activities. The musical line-up includes: Soul Proprietor, The Informants, and 3 Twins. The event is FREE and open to the public, so come down for some summer fun.
Looking for something a little different? Just a few blocks from Old Town Square the Avery House is hosting an Old Fashioned July 4th. The day will be filled with historic activities and games, a dress up tent, mandolin music, hot dogs, ice cream and more! Stop by between 11:00am-6:00pm to partake in the special activities.
Fireworks Show
Finish the day with a grand fireworks display at City Park. Fireworks beginning at dusk, around 9:35pm. For more information, visit the Downtown Business Association website.
As a company we wish you a fun and safe 4th of July weekend!
The multi-housing unit market is showing signs of stabilization in Fort Collins, Loveland and Greeley. Fort Collins’ 2010 first quarter vacancy rate came in at 5.1% and Loveland had the lowest in the state, coming in at 3.8%. Apartment vacancy rates in Greeley fell to 6.9% during the first quarter of 2010, compared to 8.4% during the same time period last year. Greeley’s 6.9% rate represents the lowest first-quarter rate for the city since 2002.
Why do we care about apartment vacancy rates?
Apartment vacancy rates are one of the ways we measure supply and demand balance in market. Lower vacancy rates and higher rents tend to indicate the regional economy is doing well, attracting more residents and increasing the demand for housing. Ideally, lower vacancy rates are complimented by strong home-ownership rates.
Data source: State Department of Local Affair’s Division of Housing.
May 2010 Fort Collins Real Estate market statistics are in. Each month we track the following leading market indicators for Fort Collins, Colorado:
U/C = Under Contract
Solds = Number of sold properties
MSI = Month’s Supply of Inventory
************************* MSI Defined: The MSI is an estimate of how long it will take for all the homes in a market area to be sold, or absorbed, based on the number of homes currently on the market and the rate that homes have sold in the past. A market is considered balanced when the MSI falls between 5-7 months. Under 5 months is considered a seller’s market and over 7 months is considered a buyer’s market.
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To properly examine the market, we explore the three indicators separately for single-family detached homes and single-family attached homes. Here is what we found in May:
Single-Family Detached Homes
The two-year comparison from May 2008 to May 2010 shows a slight increase in the number of sold single-family detached homes. The number of under contracts was down, however, this could be due to the spike in April under contracts caused by the Home Buyer Tax Credit April deadline. The MSI continues to hold at a stable 5.2 months, indicative of a balanced market.
Single-Family Attached Homes
The MSI for single-family attached homes increased in May, however, it is still within the balanced range of 5-7 months. Keep an eye out for June statistics to see if the bump in March and April under contracts leads to an increased number of sold single-family attached dwellings in June.
Fort Collins residents welcomed good news recently. The unemployment rate for Fort Collins-Loveland dropped from 7.1% in March to 6.4% in April. During the same time period in Greeley, the unemployment rate reduced from 9.9% to 9%. This news was matched by the recent announcement that BP Wind Energy is planning construction of a wind farm in nearby Weld County. BP estimates employing 250 workers for the construction and generating 12-14 job openings for the monitoring and maintenance of the wind farm. The major employers for the area currently include:
For even more information about the northern Colorado economy check out the Northern Colorado Economic Development Corporation website at: http://www.ncedc.com!
Data source: State Colorado Department of Labor and Employment; Coloradoan, “BP to build wind farm in Weld” by Sarah Jane Kyle, 5/20/2010.
April 2010 was a good month for Fort Collins Real Estate! Each month we track the following leading market indicators for Fort Collins, Colorado:
U/C = Under Contract
Solds = Number of sold properties
MSI = Month’s Supply of Inventory
To properly examine the market, we explore these indicators separately for single-family detached homes and single-family attached homes. Here is what we found in April:
Single-Family Detached Homes
In comparing April 2008 to April 2010, the market for single-family detached homes improved across the board. The number of under contract properties was up 33% and the number of sold properties was up 4%. Perhaps the most promising figure is the MSI (Month’s Supply of Inventory). In the two year comparison, MSI dropped by 32%. This means the market inventory is tightening, which is critical for price stabilization.
Why do we care so much about MSI? The MSI is an estimate of how long it will take for all the homes in a market area to be sold, or absorbed, based on the number of homes currently on the market and the rate that homes have sold in the past. A market is considered balanced when the MSI falls between 5-7 months. Under 5 months is considered a sellers market and over 7 months is considered a buyers market. The MSI for Fort Collins single-family detached homes has been dropping over the past two years and as of April 2010 is at 3.6 months overall.
Single-Family Attached Homes
The single-family attached housing market for Fort Collins is also showing signs of improvement. While the number of sold properties was 25% less in April 2010 compared to April 2008, the number of under contract properties rose sharply by 38% - a good sign for future closed sales. The MSI also improved for single-family attached homes, evidence of tightening inventory.
9/2: Bike In Cinema, New Belgium
The city of Fort Collins is gearing up for a fun 4th of July weekend. If you are in town, head into Old Town for live music, face painting, a pie eating contest and other fun activities. The musical line-up includes: Soul Proprietor, The Informants, and 3 Twins. The event is FREE and open to the public, so come down for some summer fun.
