Residential Home Sales

Date posted: 07/15/2008

Information and Real Estate Services (IRES) groups types of real estate based on use and style of the unit. The two groups shown here are Residential and Attached homes. Residential homes are single-family houses and residential acreage properties that do not share a common wall with another unit. Attached homes are properties that have shared walls or other structural component between units (i.e. condominiums, townhouses, or half of a duplex). Unless indicated, all housing data includes both types of homes, residential and attached, and both types of sales, resale and new construction.

What this chart shows: Median Sale Price of Single Family Dwelling - Estes Park, Fort Collins Area, Loveland/Berthoud, 2003 - 2007

Data Source: Information and Real Estate Services, L.L.C., Local Statistics (Select Resources, then Real Estate Statistics)

See data table

What these data tell us:

The median sale price of single family homes (residential and attached, new and resale) in Larimer County rose steadily from 2003 through 2006 but declined in 2007. A 'median' sale price means that an equal number of homes were sold at a price above the median, as were sold for a price below the median.

Between 2003 and 2007, the median sale price for both Estes Park and the Loveland/Berthoud area increased by 13.7%. However, both Estes Park and the Loveland/ Berthoud area experienced declines in median sale price during 2007. The Fort Collins median sale price increased approximately 7% between 2003 and 2007 and unlike Estes Park and Loveland/ Berthoud, Fort Collins Area experienced an increase in 2007. Loveland/ Berthoud prices were consistently about $20,000 below Fort Collins area prices until 2004. The Loveland/Berthoud median price surpassed the Fort Collins area price in 2004 by $125 and continued to increase until 2007, when its median price fell below that of Fort Collins.

What this chart shows: Median Sale Price of Single Family Home by Type of Home and Type of Sale - Fort Collins/Wellington & Loveland/Berthoud, 2003-2007

Data Source: The Group, Inc.

See data table

Note: Data released by The Group, Inc. combines Fort Collins and Wellington, and Loveland and Berthoud.

What these data tell us:

There were interesting differences between the Fort Collins/Wellington and the Loveland/Berthoud areas when split by type of dwelling (residential vs. attached) and type of sale (new vs. resale). From 2003 to 2007, Loveland/Berthoud's median sale price for a new residential unit increased 27% to $295,000 compared to the Fort Collins/Wellington area 4.9% increase to $254,200 over the same period. Please note that combining communities will affect the median sale price for the entire area. For example, increased sales of lower-priced homes in Wellington may have the effect of lowering the median sale price for the Fort Collins/Wellington area.

From 2003 to 2007, the median sale price of existing (resale) residential units in the Fort Collins/Wellington area was within $24,200 (90.5% of new units) of the median price of their new residential units, but decreased by 6.1% over the period. The median sale price of existing residential units in the Loveland/Berthoud area increased by 3.09% and was approximately $95,000 less than the median sale price of new residential units (67.8% of new units). For more information see Number of Residential & Attached Dwellings Sold.

What this chart shows: Average Residential Home Sale Price - United States, Fort Collins/Wellington, & Loveland/Berthoud, 1998 - 2007

Data Source:

• The Group, Inc - Market Statistics
• United States Census - New Residential Sales

See data table

What these data tell us:

The average sale price of local homes increased every year from 1998 through 2007. The most significant increases were from 1998-2001. The United States had the highest percentage change (71.3%) during the ten year period. During the same period, Loveland/Berthoud and Fort Collins/Wellington areas increased by 69.3% and 58.8% respectively.

Additional Information:

On Compass -

• Bankruptcy and Foreclosure
• Family Size, Household Size and Household Composition
• Home Ownership
• Housing Occupancy - Ownership/Renting
• Housing Units
• Median Family Income
• Miles of Road
• New Residential Units
• Per Capita Income
• Population Size & Growth

Outside Compass -

• Coloproperty.com Local Real Estate Statistics
• IRES (Information and Real Estate Services) Northern Colorado's Multiple Listing Service
• The Group, Inc. - Market Statistics

Data Tables:

Median Sale Price (in thousands) for Single Family Dwellings

- Estes Park, Fort Collins Area, Loveland/Berthoud, 1998 - 2007

	Estes Park	Fort Collins Area	Loveland/ Berthoud
1998	*	$155.5	$142.9
1999	*	$169.9	$159.0
2000	$230.0	$187.9	$163.5
2001	$257.5	$205.0	$185.0
2002	$264.3	$214.5	$194.5
2003	$277.0	$220.0	$200.2
2004	$285.5	$220.5	$220.6
2005	$290.5	$229.9	$232.9
2006	$319.9	$230.0	$239.4
2007	$315.0	$235.0	$227.6

*Data are not available for these years.

See chart

Median Sale Price by Type of Home and Type of Sale

- Fort Collins/Wellington & Loveland/Berthoud, 2000 - 2006

	Fort Collins/Wellington					Loveland/Berthoud
	Residential		Attached Homes			Residential		Attached Homes
	NEW	RESALE	NEW	RESALE		NEW	RESALE	NEW	RESALE
2000	$260,006	$205,000	$139,900	$127,000		$176,028	$166,900	$162,790	$138,000
2001	$220,034	$215,500	$179,705	$139,000		$231,000	$182,280	$179,900	$139,900
2002	$223,853	$237,000	$161,170	$151,000		$226,594	$189,000	$164,760	$147,450
2003	$242,320	$245,000	$164,000	$149,900		$231,733	$194,000	$168,900	$158,000
2004	$251,210	$254,700	$171,010	$153,000		$266,168	$200,000	$181,693	$152,500
2005	$268,353	$261,000	$178,400	$145,000		$315,000	$205,400	$170,642	$154,000
2006	$233,754	$230,000	$192,539	$145,000		$278,900	$210,000	$160,450	$151,900
2007	$254,200	$230,000	$187,500	$142,500		$295,000	$200,000	$159,000	$152,000

See chart

Average Residential Home Sale Price,

- United States, Fort Collins/Wellington, & Loveland/Berthoud, 1994 - 2007

	United States	Fort Collins / Wellington	Loveland / Berthoud
1994	$154,500	$137,412	$125,916
1995	$158,700	$143,245	$133,938
1996	$166,400	$147,503	$144,679
1997	$176,200	$153,725	$150,177
1998	$181,900	$159,686	$159,080
1999	$195,600	$175,036	$175,533
2000	$207,000	$194,042	$193,089
2001	$213,200	$213,042	$210,327
2002	$228,700	$217,314	$218,034
2003	$246,300	$228,541	$222,088
2004	$274,500	$230,589	$237,886
2005	$297,000	$245,240	$248,251
2006	$305,900	$248,767	$255,033
2007	$311,600	$253,578	$269,318

See chart

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