Home Sales Surge in Northern Colorado Ahead of Holiday Season

The housing market in Northern Colorado is experiencing a notable uptick as the holiday season approaches. With temperatures remaining mild, the period between late October and mid-November has seen a significant increase in homes going under contract. According to data from InfoSparks, both Larimer and Weld counties reported year-over-year increases of 5.2% and 10.9%, respectively, in homes going under contract by the end of October.

This increase coincides with a rise in available homes for sale, which has provided buyers with more options. Larimer County recorded a 13.4% increase in available inventory, while Weld County saw an even more substantial rise of 20.5%. As a result, buyers are gaining leverage in negotiations, with homes now spending an average of 68 days on the market, a 12% increase from the previous year.

According to the Colorado Association of Realtors, this extended timeframe has allowed buyers to negotiate better deals, with sales closing at approximately 5.7% below original list prices on average. In Larimer and Weld counties, homes are selling at about a 3% discount from their initial listing prices.

The current market conditions are particularly favorable for buyers. Historically, December tends to have the lowest sales volume, sale prices relative to original listings, and homes under contract. As such, prospective buyers are encouraged to act swiftly.

“Now is the time to purchase if you’re in the market for a home,” said Benson Verbel, a Realtor with NextHome Foundations and President of the Greeley Area Realtor Association. “As soon as January arrives, we typically see an upward trend in sales activity, which means increased competition, higher prices, and fewer opportunities to negotiate.”

Verbel emphasizes that sellers who adapt quickly to the evolving market are more likely to succeed. Those who price their homes realistically, present them well, and offer strategic concessions are finding success in closing deals.

As the year draws to a close, buyers are urged not to delay their home search until the new year. The current market dynamics resemble a “Black Friday” event for home sales, with opportunities to secure favorable deals before the holiday rush.

For more updates on real estate trends in Northern Colorado, you can follow the latest insights provided by atHome Colorado, a publication dedicated to real estate, design, and community trends.