I have a thing for Old Town Longmont
Where once it was a run-down, tired down town area featuring a Butterball turkey processing factory and a clumping of vacant commercial properties, now it’s turning. Turning into a hip spot with an exciting nightlife featuring pubs, restaurants and galleries.
Longmont’s revival is not limited to its downtown area either. Real estate in Longmont, in the past dragging it’s heels on the appreciation front, is booming! Not only has new construction picked back up where it left off years ago, but all those 50’s through 90’s houses that make up the residential neighborhoods just outside of old town are being snapped up. Multiple offers, lower days on market and limited inventory levels. Remember the days in 2008 – 2010 when foreclosures filled showing sheets? Those days are gone too.
The Longmont of 2015 is thriving
Check this out:
Yep… Right when the market changed from a Buyers Market to a Sellers Market in mid 2012, Longmont’s Old Town took a turn for the positive. Those cute bungalows, circa 1910 and adorable Victorians that make up the Old Town area (Martin St to Bowen Street, 1st St to 9th) began to capture attention. Vintage charm trumps large and new. Buyers and renters alike are discovering for themselves that the walk-ability, amenities and convenience of Old Town Longmont are valuable. Since 2014, appreciation (as seen from median sold price) has rocketed and Longmont is out-performing many of it’s neighboring communities.
The chart above also demonstrates the urgency that buyers are feeling – Days on market has remained low since 2013.