November Real Estate Market Update for Larimer County: What Buyers and Sellers Need to Know 🏡📊

Happy November!

The real estate market in Larimer County is shifting, and whether you’re buying, selling, or just curious, these trends can offer valuable insights! By understanding what’s happening in the market, you can make smart, informed decisions. Let’s break down the latest data and see what it all means for you.

Current Market Snapshot for Larimer County

Here are the key metrics shaping the Larimer County market:

• Total Closed Sales: 424 (monthly average) ✅
• Pending Sales: 625 (monthly average) 📝
• Active Listings: 1,521 (monthly average) 🏘️
• Months of Inventory: 3 months 📆
• Days on Market: 34 days ⏳
• Sale Price to List Price Ratio: 97% 💵

Each of these metrics offers unique insights into the current real estate landscape. Let’s dive into what they mean.

1. Total Closed Sales and Pending Sales: Buyer Activity is Strong

With an average of 424 closed sales each month, we’re seeing steady activity in completed transactions. Pending sales, or homes under contract but not yet closed, are even higher, averaging about 625 per month. This higher pending sales count points to continued buyer interest and a competitive environment.

• Buyers: The market is still competitive, so if you find a home you love, act quickly!
• Sellers: This shows buyers are looking and willing to go under contract. Stay prepared for motivated buyers.

2. Active Listings and Inventory Levels: A Balanced Market

With an average of 1,521 active listings each month, buyers currently have a wider selection of homes in Larimer County. This greater inventory creates options for buyers and potentially gives them leverage in negotiations.

Our months of inventory metric stands at 3 months, which means that if no new listings were added, it would take three months to sell all current listings at the current pace. A balanced market typically has around 4 to 6 months of inventory, so we’re slightly leaning toward a seller’s market, but buyers have gained more negotiating power than in past years.

3. Days on Market: Homes Taking a Little Longer to Sell

Homes in Larimer County are staying on the market for an average of 34 days, which suggests a bit more patience may be needed by sellers. Buyers, however, might appreciate the extra time to make thoughtful decisions.

• Sellers: With longer time on market, consider competitive pricing and appealing home staging to attract the right buyers.
• Buyers: The slightly slower pace gives you more time to compare options and negotiate terms.

4. Sale Price to List Price Ratio: Room for Negotiation

The sale price to list price ratio is currently at 97%, meaning most homes are selling slightly below their asking price. This suggests that sellers are willing to be flexible on pricing, and buyers may have some room to negotiate.

• Sellers: Setting a competitive list price from the start can help attract serious buyers.
• Buyers: Use this ratio to your advantage and explore potential discounts or price negotiations with your agent.

What This Means for Buyers 🏡

If you’re buying in Larimer County, here’s how the current conditions work in your favor:

• More Options: With active listings on the rise, you have more homes to choose from.
• Time to Decide: A slightly longer days-on-market average means you can evaluate your options without immediate pressure.
• Negotiating Power: The 97% sale-to-list price ratio suggests sellers may be open to discussions on price.

But with strong buyer interest, act quickly when you find the right home.

What This Means for Sellers 🏠

Sellers, here’s how you can make the most of the market:

• Price it Right: Work with a real estate agent to competitively price your home based on local data.
• Market and Stage Well: With homes taking a bit longer to sell, staging and professional photos can help your home stand out.
• Stay Flexible: The 97% sale-to-list price ratio means buyers might be looking for a deal, so stay open to negotiation to close the deal efficiently.

Final Thoughts

Larimer County’s market presents unique opportunities for buyers and sellers alike. With a balanced inventory, slight advantages for buyers, and flexibility in pricing, this market encourages smart, strategic moves.

If you have questions or want to know how these trends impact your specific real estate goals, let’s connect and create a strategy tailored to your needs! 🤝

Thanks for reading!

Scott Lowe
Broker Associate
Grey Rock Realty
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