The real estate market continues to trend upward along the Front Range and Longmont is no exception. Inventory is still low and there is no shortage of buyers. This is due to a continued influx of people to Colorado due to job opportunities in the technology sector and other industries as well as lower taxes than in other parts of the country. Further, Colorado is a beautiful place to live with over 300 days of sunshine on average!
Property values continue to rise due to these factors. In the last 12 months, median property value estimates have increased by 16.3% (NARRPR.com). In the last 12 weeks we’ve seen a 5% increase in the number of houses sold.
What does this mean for you? You could capitalize on the equity you have in your home if you sell now. You could then invest that money into that home you’ve been wanting, and with interest rates still hovering around 4% you’ll get more for your money!
Some are concerned that if they buy now their home won’t appreciate in value. However, all of the financial indicators point to a growing economy in Colorado, thus continuing to bring increased value to your property.
If you’re interested in taking advantage of the investment you have in your home, let’s talk about what it’s worth and take the next steps to putting it on the market!