Northern Colorado Real Estate Market Predictions for 2021

Wondering what 2021 has in store for Northern Colorado real estate, and if 2021 is the year to buy and/or sell? Here are some predictions and insights that may inform a few of those big decisions.  

Increase in dollar +12.8% volume of home sales in Northern Colorado from 2019 to 2020.  Average sales +5.64% price increase in Northern Colorado from 2019 to 2020. 2021 trends Good news for would be buyers. After a year of rates at all time lows an average of 2.67% on a 30-year fixed mortgage as of December 31 don’t expect much to change early in 2021. National experts are predicting that rates will be around 3% over the first half of the year, before possibly ticking up slightly in the latter half of the year. Many are trying to capitalize on the ability to lock-in a long-term mortgage at a record low rate. This is increasing demand for inventory, with first time home buyers (amazing news this year to come with first time homebuyers) seeing an opportunity to enter the market, and current homeowners capitalizing on the strong rental market and snapping up investment properties.

What this means for buyers: Work with an agent who will be as aggressive as the market. Search for homes early and often and be prepared and prequalified to put an offer on a house of your dreams

What this means for sellers: You’re likely to sell quickly at good price for your home, selling with an agent who has YOU in their best interest and wants to help get YOU the client get the best price for your home 

2021 looks to be another incredible year for Northern Colorado real estate and homeowners. The area will see a lot of housing developments across the Front Range take shape. The market will continue to be impacted by historically low inventory which, in turn, will lead to increasing appreciation. Mortgage rates will remain low for the foreseeable future which will continue to keep demand strong as more people choose to call Northern Colorado home.