Old Town Longmont 2015 Real Estate Analysis
Anyone who is anyone and following the Longmont real estate market knows that 2015 was a very exciting year! Appreciation ran rampant and nothing that was priced appropriately stayed on the market long. Bidding wars were common place and the closer to Old Town the property was, the more coveted it seemed to be.
Let’s take a look at Old Town… One of my favorite areas of Longmont. An area rich in character, representing the history and architectural diversity of the city and lending itself to the walkability factor that most buyers are putting near the top of their priority list.
As you might remember from other posts, our Boulder County real estate market did an about face in 2012 – March 2012 to be exact. March 2012 was the month that I saw the buyers market of the previous 2-3 years, come to a screaming halt. Sellers, sick of low bids and long days on market stopped listing their homes for sale, decided to wait a bit for prices to increase and reveled in the discomfort buyers began to experience when they discovered there were not enough homes for sale to meet the number of buyers shopping. Old Town Longmont was no exception. Check out the above chart. Since 2012 the median sales price has risen consistently and the average days on market data has fallen.
- 15% increase in the Median House price between 2014 and 2015
- Average House Price in Old Town Longmont in 2015: $315,000
- 12% decrease in Average Days on Market between 2014 and 2015
- Listings are selling at an Average of 101% of List Price
If you or someone you care about is thinking that the community of Longmont is the place for them, I’d love to help. It would be my pleasure to help any Longmont buyer or seller make informed decisions about their real estate transaction…
2016 is going to be another great year for Longmont!