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PO Box 858 Firestone, CO 80520

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by Kyle Snyder

Hello again‭, ‬Carbon Valley‭. ‬I hope y’all had a great summer‭. ‬The real estate market had an amazing summer‭, ‬and I’m going to try to tell you all about it in a few short paragraphs and one almost readable graph‭.‬

Our measuring stick for the information in this report is all sold data from January 1‭ ‬through July 31‭. ‬This represents a full seven months of the year‭. ‬My experience is that results from the first seven months are indicative of what the year-end or 12-month data will show when we arrive at the end of the year‭.‬

The average price in the Carbon Valley through the end of July in 2020‭ ‬was‭ $‬411,472‭. ‬That was up compared to 2019‭ ‬despite lockdowns‭. ‬And this year‮…‬‭ ‬well‭, ‬we talked about low inventory a couple of months ago in my previous article‭. ‬Extremely low inventory will give fewer buying opportunities and lower sales totals‭. ‬That’s what we’ve seen in the entire region‭. ‬This year‭, ‬in the Carbon Valley‭, ‬we saw a 13%‭ ‬decline in the number of homes sold through the end‭ ‬of July from 650‭ ‬in 2020‭ ‬to 565‭ ‬in 2021‭.‬

If you bought a home in the first half of 2020‭, ‬you have been rewarded with a healthy 17%‭ ‬increase in value‭. ‬All those pro’s who kept calling for a bubble were wrong‭. ‬If you listened to them and didn’t buy‭, ‬you missed out on about‭ $‬70,000‭ ‬gain in equity‭. ‬Through July of this year‭, ‬the average price of a closed‭, ‬single-family home is‭ $‬481,248‭! ‬Thankfully‭, ‬the Carbon Valley also has several affordable home options‭, ‬evidenced by 48‭ ‬properties that sold for‭ $‬300k or less so far this year‭.‬

How affordable is the Carbon Valley‭? ‬I’m glad you asked‭. ‬It’s the 3rd most affordable town north of the metro area‭. ‬As far as the number of closings in each town‭, ‬the Carbon Valley sits squarely in the middle with 565‭ ‬this year‭. ‬Mead had just 169‭ ‬sales‭, ‬while Ft Collins led the pack with 1,348‭. ‬Additionally‭, ‬the Carbon Valley is located the furthest south‭. ‬These factors will not go unnoticed due to high prices in the metro area‭. ‬Eventually‭,‬‭ ‬we will see more vigorous buyer activity from people wanting to flee the traffic and congestion of the big city‭.‬

Due to the normal seasonality of prices‭, ‬we will see moderate price increases for the remainder of the year‭, ‬so now could be a great time to buy‭. ‬If you are looking to make that move to Florida finally‭, ‬now is an excellent time to sell and make that dream‭ ‬come true‭. ‬Either way‭, ‬you should call my friend Tracy Graham‭. ‬She is a pro‭, ‬and she can help‭. ‬

Kyle Snyder is the local sales and marketing expert for First American Title who grew up in the Longmont area‭. ‬His 21‭ ‬years in the real estate business make him an indispensable asset to many new and experienced Realtors‭. ‬His passion for and expertise with‭ ‬local real estate statistics is unparalleled and unmatched over the past 15‭ ‬years‭.‬