After a decade of steady growth and appreciation, Northern Colorado's real estate market began to slow down in 2003, due to some job losses in the region's high tech sector. However, the extremely well-diversified nature of the regional economy has kept real estate values in single family homes reasonably steady. The condo/townhome market did experience some value depreciation, in the range of 10%, primarily due to overbuilding in anticipation of unrealized demand. While a return to steady growth won't be rapid, lost jobs are beginning to be replaced as new employers have opened or expanded operations in the area. The area's basic economic strength, along with consistently high ratings in numerous "best places to live" surveys, a highly educated labor force, and excellent infrastructure, all ensure that a return to economic vitality is in the immediate future. Single family homes are selling for around 98% of list price, and represent good buys for value. An even better opportunity exists for the long-term investor, as condo/townhome prices are down, and vacancy rates are declining and rents beginning to rise. Northern Colorado is currently at the bottom of the real estate cycle and is worth watching closely.
ZIP Codes: 80537, 80538 Location Characteristics: 35 minutes north of Denver, approx. 60,000 population, well-diversified local economy, strong arts and civic sectors, low crime, 330 days of sunshine.
About Mary & Dick Greenberg:
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