Real estate sales in Longmont are continuing to be fast-paced and increasing in price, making this seller’s market even more interesting. The number of homes for sale in March were 208, up from 166 in 2016 and 184 in 2015. Yet, the median home price in Longmont reached $369,950, shy of the high set in March 2016 of $377,050.
Meanwhile the average price per square foot for Longmont home sales reached $184. If the trend from previous years continues, that value could reach $200 per square foot by mid-summer.
So, what does all this mean to you, the homeowner or home buyer? For the homeowner seeking to increase their nest egg, it may be a good time to refinance, sell your current home and move to the area you’ve always wanted to live in, or consider becoming a landlord.
For the home buyer, the time is now to find your home. With prices increasing and with the potential for interest rates to rise it becomes more difficult to qualify for a home purchase through time. Beginning in April through October, the majority of home sales occur with June and July as the peak months for home sales. There are also more potential buyers looking, so getting prepared is important.