Longmont Real Estate Data
We are now half way through the year. For many of us, a lot has happened in 2014. For some, not enough has happened! Yes, I’m referring to the countless Longmont Real Estate Buyers out there, still looking, still competing, still waiting. Don’t worry… your time will come. 🙂
Let’s take a look at my Longmont real estate data and see what the hold up is.
Longmont real estate data : Houses (detached dwellings)
In a nutshell, median prices are still trending upward, the number of sales remains strong and the number of “for sale” houses in inventory has been declining since 2011. You can see looking at the blue bars (Active listings) that there is less on the market for Buyers to chose from than, 2013 and way less than inventory levels in 2012 and 2011. The percentage of sales compared to active listings (the absorption rate) is high.
Just yesterday I had a client observe that she thought prices in Longmont were around the same as she remembered Boulder prices being, “a few years back”. At first I wondered about that… Then decided to see (just for kicks) how prices do compare to Boulders market – back then and now.
As it turns out, “back then” was indeed quite a while ago. Not since 1998-1999 did Boulder have a median sales price close to where Longmont is today. Fifteen years ago!!!
Ok, so Longmont has been slower to appreciate. It wasn’t jammed up against the foothills and it had a turkey processing plant in Old Town (now gone, thankfully) which didn’t help. But the contrarian in me is seriously wondering if now is the time to invest in Longmont. Maybe 15 years from now my $300,000 investment would have caught some Boulder momentum and set me up for retirement? Longmont – which I have overheard being called “Wrongmont” – has pockets of charm a growing number of folks willing to invest time and money into restoring some of that historical beauty.
Its definitely worth investigating and if you are attending my fall meetings geared toward investment in this area, you might find a Longmont property featured as a case study.
Longmont Real Estate Data : Condos and Townhouses (attached dwellings)
Again we see absorption has crept up over the last couple of years. The number of ACTIVE listings are way down and prices are trending slightly upward too. Oh to be a seller now, versus back in May 2011!
You’ve heard my opinion before. The pendulum always swings back the other way. Let’s be sure to revisit this chart in 5 years. 🙂