While the “Bomb Cyclone” closed roads and schools over the last two days, the “Condo Cyclone” is opening new opportunities for first-time buyers.
What’s the “Condo Cyclone” you ask. It’s the proliferation of multi-family inventory that has come on the market up and down the Front Range.
Compared to last year, multi-family inventory which includes town-homes and condominiums, has increased…
• 79% in Metro Denver
• 34% in Larimer County
• 45% in Weld County
This is terrific news for the market overall, as inventory has been unusually low for several months. It’s especially terrific news for first-time buyers who need this type of product as a stepping stone to home ownership.
What we notice is a $170,000 to $130,000 difference in average price between a single-family home and a multi-family home in Front Range markets.
Specifically, here’s the spread between multi-family and single-family average price:
• $349,801 vs. $512,312 in Metro Denver
• $312,493 vs. $469,294 in Larimer County
• $237,645 vs. $370,027 in Weld County
So as we dig out from the “Bomb Cyclone” we can be happy for the “Condo Cyclone” which brings more affordability and opportunity to our markets!
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This beautiful Craftsman home at 2138 Yearling Dr near Jessup Farm in Bucking Horse comes with 4 bedrooms, 3 bathrooms, an office, 3 car tandem garage + 220 service, and a full unfinished walk-out basement. The kitchen includes 42 inch cabinets, SS appliances, walk-in pantry and pot filler. Upgraded hardwoods and gas fireplace in great room. Sitting area in master bedroom in addition to a spacious loft, Jack and Jill bath between 2nd and 3rd upstairs bedrooms. Plantation shutters, upscale lighting and hardware throughout. Enjoy the pool and ideal access to trails! Call for your private showing at (970) 217-6345 for more information or click the link below for more details.