December 2023 Market Update

The market has been fairly stable overall with small changes but nothing like the escalated market we had in recent years.  With higher interest rates and the resultant decrease in demand, there has been downward pressure on home prices.  However, just in the last two days things have changed, at least in regard to interest rates.  They dropped to the low 7s and as of 12/14, they are at 6.82% and trending lower. How will the market respond?  Are these rates low enough to significantly increase buyer demand?  Time will tell…  In this episode I’ll take the usual look at how the market is trending in Northern Colorado and highlight the average sales prices in the major communities along the Front Range. Don’t hesitate to get in touch with any questions or to discuss if now is the right time for you to move.